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Real Estate Financing Programs

Horizontales
Discount points on a mortgage loan will __ the yield to the lender.
Because most adjustable rate mortgages do not have a prepayment __, it is easier for the borrower to refinance to a fixed rate.
The term ad valorem refers to the form of __ based on fair market value.
To avoid being required to purchase private mortgage insurance, a borrower will have to make a down payment of __%.
__ loans is the designation for the types of loans sold to Fannie Mae and Freddie Mac on the secondary market.
Mortgage insurance on a conventional loan is issued to protect the __.
A borrower pays the interest only on the mortgage loan for seven years; at that time, the principal balance is due in full. This is a __ loan.
A __ loan has a higher interest rate and fees.
Verticales
Fannie Mae and Freddie Mac guidelines state that private mortgage insurance (PMI) is required on conventional loans when the loan to value ratio is in excess of __%.
One of the MOST reprehensible forms of __ lending is when a lender entices a homeowner to take out a home equity loan.
__ amortization will occur when the payments do not cover the amount of interest due.
The initial rate on an adjustable-rate mortgage is sometimes called the __ rate.
The hazard insurance premium would be highest on a __ frame house in a rural area.
The __ index is often used on an adjustable rate mortgage to establish an index.
The note __ is subject to change over the life of an adjustable rate mortgage loan.
The strategy of using a split loan when financing a property to avoid private mortgage insurance is also called a __ back loan.
The component of an ARM that can never be changed is the __.