Mortgages Quizzes-Why would a borrower make an extra - E-PersonalFinance
    • Answer to Quiz
    College Saving
    Why would a borrower make an extra payment on his mortgage loan?
    Answer: (c)
    By making an extra payment periodically, a borrower can shorten the length of a mortgage and the total interest paid. An early payment of principal reduces the amount of interest that accrues (since the amount of the loan is effectively decreased).


    Next Quiz:
    College Saving
    A mortgage broker can assist homeowners in obtaining mortgage loans:


  • Word of the Day
    Word of the Day

    Current Yield

    "Current yield" is the rate of return on an investment, expressed as a percentage. ...

    Read more
    • Copyright © By unibs.co.uk All rights Reserved