Mortgages Quizzes-A mortgage on which payments are

Answer to Quiz

A mortgage on which payments are made every half month is called:

Answer: (c), bi-weekly mortgage
A bi-weekly mortgage is a mortgage loan on which interest and principal payments are made every half-month (total of 26 payments per year). This results in earlier loan payments.

Next Quiz:

In most instances, when can a borrower get the obligation to pay private mortgage insurance be removed?

(a) 5 years after the loan has been taken out
(b) When the equity in the home reaches 75% of the home's fair market value
(c) When the equity in the home reaches 80% of the home's fair market value
(d) When the borrower has made 24 consecutive payments on a timely basis

Word of the Day

Total Enterprise Value

"Total Enterprise Value" or "TEV" is a way to measure the complete value of...

Total Enterprise Value

Newsletter