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24 February, 09:21

Match the terms to their correct meaning

1. APR

interest rate that does not change

2. Interest

charge for borrowing money

3. Closing costs

Loan To Value

a loan based on the value of the

4. Down payment

real estate it is used to purchase

fees required if loan is paid off

before the end of its original term

5. Fixed rate

6. LTV

initial cash payment

7. Mortgage

8. Prepayment penalties

interest rate tied to an index that

may change

fees associated with taking out a

mortgage

annual percentage rate

9. Variable rate

+5
Answers (2)
  1. 24 February, 09:28
    0
    balloon payment: large payment due at the end of the loan period

    closing costs: fees associated with taking out a mortgage

    down payment: initial cash payment

    fixed rate: interest rate that does not change

    LTV: Loan To Value

    mortgage: a loan based on the value of the real estate it is used to purchase

    prepayment penalties: fees required if loan is paid off before the end of its original term

    variable rate: interest rate tied to an index that may change
  2. 24 February, 09:34
    0
    Answer:?
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