The Advantages of a Fixed-Rate Mortgage Over an ARM Include

question 200

Multiple Choice

The advantages of a fixed-rate mortgage over an ARM include

• A)no private mortgage insurance required.
• B)fixed payments that are easier to budget for.
• C)less worry about the loan reaching the rate and payment caps.
• D)none of the above.
• E)both B and C.

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Definitions:

Central Government

The national government of a federated state, possessing ultimate governmental authority over the entire country.

Government Program

An initiative funded and operated by a government body aimed at achieving a specific social, economic, or political purpose.

National Government

The government that oversees the entire nation, as opposed to local or regional governments.

Dual Federalism

A political system where the responsibilities and powers are clearly divided between the national and state governments.