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Use the following table to determine which type of mortgage loan each definition / example best represents. table [ [ Definition / Example ,
Use the following table to determine which type of mortgage loan each definitionexample best represents.
tableDefinitionExampleMortgage Loan TypeSecondtableGrowingEquitytableBalloonPaymenttableSharedAppreciationtableFixedRatetableAdjustableRatetableGraduatedPayment
The type of mortgage that modifies the borrower's interest rate over the life of the mortgage.
The type of mortgage that allows borrowers to make small payments at the beginning of the mortgage's life and larger payments that eventually level off over the life of the loan.
The type of mortgage that is given out when there is already a mortgage on a home and that typically has a higher interest rate than the initial mortgage.
The type of mortgage a company might want if they need financing to build a manufacturing facility, want a low interest rate, and plan to use the profits from manufacturing at the new facility to pay the loan off with one large payment in just a few years.
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