7.4-7.5 quiz.docx - 7.4-7.5 quiz With a fixed-rate mortgage...

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7.4-7.5 quiz . With a fixed-rate mortgage, the interest rate will remain constant throughout the term, and the initial principal balance, together with the interest due on the loan, is repaid to the lender through regular periodic payments. This is called ______amortizing ______ the loan. The time until final payoff of a mortgage is called the These are all examples of quantities governing Adjustable-rate Mortgages (ARMS) Adjustment Period Index Margin Negative Amortization Prepayment Penalty True "Loan origination fees" are commonly referred to as By imposing points, lenders can effectively raise the interest rate without raising monthly payments. Payments for property taxes and homeowner's insurance on a mortgaged property are commonly made for a special account.
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Which of the following are terms used to refer to this type of account? (more than one answer is possible)
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