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Unformatted text preview: selecting a home is a. price. b. style. c. location. d. desired features. ____ _8. The major factor that affects a persons qualification for a mortgage is a. current interest rates. b. the applicants credit rating. c. the value of the property being purchased. d. the source of the down payment funds. ____ _9. Most lending institutions believe that a person can afford a monthly payment of about __________ percent of gross income less any long-term debts. a. 25 b. 35 c. 45 d. 55 ____ _10. A __________ mortgage allows a person to borrow on the paid-up value of a home. a. conventional b. growing equity c. second d. share appreciation...
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This note was uploaded on 03/05/2011 for the course FIN 4401 taught by Professor Ramos during the Fall '08 term at FIU.
- Fall '08