A Mortgage Loan with a Fixed Rate of Interest and a Fixed

question 30

Multiple Choice

A mortgage loan with a fixed rate of interest and a fixed payment for principal and interest that is available from a financial institution is called

• A)an assumable mortgage.
• B)a conventional mortgage.
• C)seller financing.
• D)a lender buy-down mortgage.

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Definitions:

Respected

Earning esteem or admiration from others due to qualities such as integrity, achievements, or fairness.

Zone of Indifference

A conceptual range within which individuals are indifferent to authority's decisions or directives, either accepting or obeying them without resistance.

Perceived

Understood or interpreted in a certain way by an individual, based on their personal judgment, feelings, or opinions.

Legitimate

Something that is authorized, legal, and recognized as valid or rightful, based on established rules or standards.