Drop down. 1 real property, or personal property

Drop down 2 Property insurance companies and mutual funds, or Life insurance companies and pension funds.

Thanks

13. Vocabulary - Mortgage-related concepts and terminology Aa Aa E Are All Mortgage Loans Alike? In short, the answer is no! Mortgage loans vary with the preferences of the individual lender and the borrower. In general, mortgage loans can be differentiated according to their terms of payment, their down payment requirements, and whether they are insured or guaranteed. Mortgage loans, or loans that use as collateral, are made by commercial banks, thrift institutions, and mortgage bankers. In addition to these traditional sources, mortgage brokers also solicit borrowers and originate a large volume of these loans. Brokers often place their loans with these traditional mortgage lenders as well as with Which of the following statements accurately describe the similarities and differences between mortgage bankers and mortgage brokers? Check all that apply. Mortgage brokers earn their income from the interest on the mortgage loans, while bankers earn their income in the form of commissions and loan-origination fees. Although mortgage brokers often appear to work on behalf of their borrowing customers, they are ultimately paid by the mortgage lender. Many mortgage bankers ultimately sell the mortgages that they create. To review the differences in the characteristics of different types of mortgage loans, match the types of mortgages and related programs listed on the left with their descriptions on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term. Term Answer Description Fixed-rate mortgage D A . Interest-only mortgage D B. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property. This mortgage allows a borrower to convert from an adjustable-rate loan to a fixed-rate loan during a prespecified time period. VA loan guarantee o This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time; after this date, all payments require the payment of both interest and principal. Term Description Fixed-rate mortgage A. TOO O Interest-only mortgage B. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property. This mortgage allows a borrower to convert from an adjustable-rate loan to a fixed-rate loan during a prespecified time period. VA loan guarantee This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time, after this date, all payments require the payment of both interest and principal. This mortgage provides for two interest rates: one that is charged for the first five to seven years and a higher rate that is charged during the remaining term of the loan. Biweekly mortgage D D. Two-step ARM E. Over the life of this mortgage, the interest rate and the monthly payment are fixed. O O F. Adjustable-rate mortgage This mortgage uses 26, rather than 12, payments per year to reduce the total amount of interest paid over the life of the loan and accelerate the repayment of the mortgage loan's principal- compared to an otherwise identical fixed-rate mortgage. This mortgage is characterized by an interest rate and monthly payments that can be adjusted over the life of the loan based on movements in market interest rates. Convertible ARM D G. Graduated-payment ARM O H. This mortgage allows borrowers to make smaller-but gradually and constantly increasing-payments for the first three to five years. At the end of this period, the payments then stabilize at the higher level and are repaid over the remaining life of the loan. FHA mortgage insurance O This loan guarantee is offered by a department of the federal government to lenders who make qualified loans to eligible veterans of the U.S. Armed Forces and their surviving spouses. This loan program, offered through a department of the federal government, provides mortgage insurance to lenders offering mortgage loans with loan-to-value ratios greater than 80%. Conventional mortgage D O J . 13. Vocabulary - Mortgage-related concepts and terminology Aa Aa E Are All Mortgage Loans Alike? In short, the answer is no! Mortgage loans vary with the preferences of the individual lender and the borrower. In general, mortgage loans can be differentiated according to their terms of payment, their down payment requirements, and whether they are insured or guaranteed. Mortgage loans, or loans that use as collateral, are made by commercial banks, thrift institutions, and mortgage bankers. In addition to these traditional sources, mortgage brokers also solicit borrowers and originate a large volume of these loans. Brokers often place their loans with these traditional mortgage lenders as well as with Which of the following statements accurately describe the similarities and differences between mortgage bankers and mortgage brokers? Check all that apply. Mortgage brokers earn their income from the interest on the mortgage loans, while bankers earn their income in the form of commissions and loan-origination fees. Although mortgage brokers often appear to work on behalf of their borrowing customers, they are ultimately paid by the mortgage lender. Many mortgage bankers ultimately sell the mortgages that they create. To review the differences in the characteristics of different types of mortgage loans, match the types of mortgages and related programs listed on the left with their descriptions on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term. Term Answer Description Fixed-rate mortgage D A . Interest-only mortgage D B. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property. This mortgage allows a borrower to convert from an adjustable-rate loan to a fixed-rate loan during a prespecified time period. VA loan guarantee o This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time; after this date, all payments require the payment of both interest and principal. Term Description Fixed-rate mortgage A. TOO O Interest-only mortgage B. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property. This mortgage allows a borrower to convert from an adjustable-rate loan to a fixed-rate loan during a prespecified time period. VA loan guarantee This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time, after this date, all payments require the payment of both interest and principal. This mortgage provides for two interest rates: one that is charged for the first five to seven years and a higher rate that is charged during the remaining term of the loan. Biweekly mortgage D D. Two-step ARM E. Over the life of this mortgage, the interest rate and the monthly payment are fixed. O O F. Adjustable-rate mortgage This mortgage uses 26, rather than 12, payments per year to reduce the total amount of interest paid over the life of the loan and accelerate the repayment of the mortgage loan's principal- compared to an otherwise identical fixed-rate mortgage. This mortgage is characterized by an interest rate and monthly payments that can be adjusted over the life of the loan based on movements in market interest rates. Convertible ARM D G. Graduated-payment ARM O H. This mortgage allows borrowers to make smaller-but gradually and constantly increasing-payments for the first three to five years. At the end of this period, the payments then stabilize at the higher level and are repaid over the remaining life of the loan. FHA mortgage insurance O This loan guarantee is offered by a department of the federal government to lenders who make qualified loans to eligible veterans of the U.S. Armed Forces and their surviving spouses. This loan program, offered through a department of the federal government, provides mortgage insurance to lenders offering mortgage loans with loan-to-value ratios greater than 80%. Conventional mortgage D O J