A Type of Financing Made Available by a Builder or Seller

question 18

Multiple Choice

A type of financing made available by a builder or seller to a potential new-home buyer at well below market interest rates, often only for a short period, is termed a:

• A) conventional mortgage.
• B) convertible adjustable-rate mortgage (ARM).
• C) buydown.
• D) two-step adjustable-rate mortgage (ARM).
• E) growing-equity mortgage.

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Definitions:

Routing Reports

Documents or systems that provide detailed information about the paths or processes taken by goods during distribution.

Overnight Travel

Travel that requires staying away from home for at least one night, often for business or work-related purposes.

Sales Manager

An individual who directs an organization's sales team, oversees sales operations, and is responsible for achieving sales targets.

Territorial Evaluation

The process of assessing and analyzing the geographical areas or regions in which a business operates to determine market potential, competition, and customer demographics.