Commercial loans differ from residential loans in that

a. Commercial loans typically have a fixed rate of interest as compared to residential loans.

b. Commercial loans typically require a lower down payment that residential loans.

c. Commercial loans typically focus on the propertys ability of generating income before the borrowers ability of repaying the loan.

d. Commercial and residential loans do not have different underwriting / loan decision requirements.

6. If you borrowed $500,000 and you owed $400,000 when the loan came due after 5 years, you would have obtained a(n) _________________.

a. fully amortized loan.

b. interest only loan.

c. partially amortized loan.

d. negative amortization loan.