What is needed if a borrower only has 15% down payment and the lender will only finance 80% of the purchase price?

A land contract

A gap loan

A collateralized loan

An all-inclusive trust deed

Interest income is taxed at the

capital gains rate.

corporate income rate.

ordinary income rate.

interest income rate.

Which rate would be considered an acceptable interest rate for certain seller-financed transactions?

The applicable federal rate

The lowest rate

The tax-deferred rate

The nominal rate