Section 5 A

The type of interest usually charged on a home loans is

• Annuity interest

• Accrued interest

• Compound interest

• Simple interest

Interest on real estate loans is normally paid

• In arrears

• In advance

• An estimated principle

• Annually

If a mortgage loan payment is said PITI, which portion goes into an escrow account

• Interest and taxes

• taxes and insurance

• Insurance in principal

• Pr

A loan is amortized over 30 years, but calls for the balance to become due at the end of the seventh year is called a

• Balloon loan

• Blanket loan

• Purchase money loan

• Reverse annuity loan

A type of loan in which each payment applies to principal and interest is

• AmortizeD

• Package

• Balloon

• Open ended

The difference between the value in the mortgage balance is called

• Profit

• Equity

• Loan-to-value ratio

• Net value

A developer need to learn to cover the purchase up for lots to build homes. The lender would use a.

• Package

• Blanket loan

• wraparound loan

• Super loan

A loan that includes real and personal property as collateral is

• Package

• Purchase money loan

• Blanket loan

• Budget loan

The interest rate in monthly payment are subject to periodic changes in a

• adjustable rate mortgage

• Construction loan

• Package mortgage wraparound mortgage

And construction loan, the funds are released to the borrower

• I’ll before construction

• All after construction is completed

• And installments as construction proceeds

• Interest only with principal paid at the end