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Real Estate Financing Principles

Chapter 15
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Across
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__ amortization results in the loan balance actually going up after a payment is made.
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Texas Veterans Land Board
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__ banks make loans to its borrowers using the deposits from other customers.
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A mortgage __ is a company, individual, or institution that originates mortgages.
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A/An __ loan essentially lowers the interest rate for the buyer, thereby reducing the amount of the monthly payment.
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The __ mortgage market consists of lenders who originate mortgage loans directly to borrowers.
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__ Rate is also called a teaser rate.
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Real Estate Settlement Procedures Act
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A/An __ plan is a retirement plan that requires an employer to make contributions to a pool of funds set aside for a worker's future benefit.
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Federal Housing Administration
Down
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A/An __ lender is someone who uses their capital to finance investments, such as real estate, and profits from interest paid on the loan.
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A __ contract is also called a contract for deed.
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A/An __ loan is one that is not backed by a government agency.
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Equal Credit Opportunity Act
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A mortgage __ is a middleman who brings mortgage borrowers and mortgage lenders together but does not use its own funds to originate mortgages.
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Credit __ is a number that indicates a borrower’s ability to repay a loan.
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__ unions are very similar to banks with one big difference...they are non-profit organizations.
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In a fully __ loan, the principal balance is zero at the end of the term.
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Adjustable Rate Mortgage
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The __ mortgage market is a marketplace where home loans and servicing rights are bought and sold between lenders and investors.
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The borrower's monthly payment to the lender for principal and __ is called the P&I payment.
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To ensure that the borrower has enough cash for any required down payment, proof of __ will be required.
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__ is the illegal action or practice of lending money at unreasonably high rates of interest.
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__ Cap is the maximum amount that the rate can change either up or down.