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Chapter 8 - Government Loans

Horizontales
The __ rate is the advertised rate used for calculating the interest expense on the loan.
__ Rate is also called teaser rate.
__-End Ratio represents the percentage of a borrower’s income that will be applied to all outstanding debt.
__ of a loan requires that systematic payments be made to reduce the balance of the loan as well as provide for the payment of interest on the loan.
The Veterans __ assists veterans, members of the military service, and surviving spouses in the purchase of a home.
__ loan will provide short-term financing between another short-term loan and a permanent loan.
Bi- __ Payment splits monthly payment into two half payments with a payment being made every two weeks.
__ amortization results in the loan balance actually going up after a payment is made.
__ interest - Interest calculated on the loan balance plus accrued interest.
__ - only loan. The loan payment is applied only to interest and none to the principal balance.
Verticales
Bi- __ Payment splits monthly payment into two half payments.
__ Cap is the maximum amount that the rate can change either up or down.
__ -End Ratio represents the percentage of a borrower’s income that will be applied to housing expense.
__ is the process of reviewing the creditworthiness of a borrower and the value of the property being financed in order to determine the level of risk that the lender will be taking on in the event that the lender provides financing.
__ Score is a number that indicates a borrower’s ability to repay a loan.
__ rate mortgages have a rate that can move up or down depending on the index that the rate is tied to.
A __ loan is one that will finance both real estate and personal property together.
A __ loan is for the purpose of financing construction projects as they progress through development.
A __ mortgage is a single mortgage that is secured by multiple properties.
Insures loans by providing mortgage insurance to its approved lenders.
The illegal action or practice of lending money at unreasonably high rates of interest.