B) A down payment C) Private mortgage insurance D) Borrower qualification E) Amortization 40) During the last years of an amortizing mortgage loan, the lender applies A) most of the monthly payment to the outstanding principal balance. B) all of the monthly payment to the outstanding principal balance. C) most of the monthly payment to interest on the loan. D) all of the monthly payment to interest on the loan. E) the monthly payment equally to interest on the loan and the outstanding principal balance. 41) A borrower who qualifies for an FHA or VA loan enjoys the advantage that