Assume that houses in an area appreciate at the rate of 5 percent a year. A borrower expects to have a loan-to-value ratio of 80 percent. What is the approximate expected appreciation rate on home equity?

Truth-in-lending requires the borrower to tell the truth on the loan application.

A borrower takes a 30-year fully amortizing 5/1 ARM for $225,000 with an initial interest rate of 4.375 percent. Assuming the index on which the loan rate is based rises by 3 percent in the fourth year of the loan and remains at that level, what will the payment be in the sixth year of loan?

A house is for sale for $500,000. You have a choice of two 30-year mortgage loans with monthly payments: (1) if you make a down payment of $50,000, you can obtain a loan with a 8 percent rate of interest or (2) if you make a down payment of $100,000, you can obtain a loan with a 7 percent rate of interest. What is the effective annual rate of interest on the additional $50,000 borrowed on the first loan?

An appraisal usually contains three approaches to valuation. Which of the following is NOT one of those approaches?

A loan was made 2 years ago for $500,000 at 10.5 percent for a 30-year term. Rates are currently 7 percent. What is closest to the market value of the loan as of today for the remaining payments?

What is the annual interest rate of a fully amortizing 20-year fixed rate $175,000 mortgage, with a monthly payment of $1,409.79?

A transaction in which a borrower sells a property for less than the current balance of the loan and then provides all of the proceeds to the sale to the lender, typically in full satisfaction of the loan is:

The following program generates an error. Why? const int NUM_ELEMENTS = 5;int userVals[NUM_ELEMENTS];int i;userVals[0] = 1;userVals[1] = 7;userVals[2] = 4; for (i = 0; i

What is the ending value of the element at index 0? int numbers[10];numbers[0] = 35;numbers[1] = 37;numbers[1] = numbers[0] + 4;