As a fixed-rate mortgage nears maturity, the portion of the monthly mortgage payment that is applied to principal _________ while the amount that is applied to interest ___________.

Related MCQs

• . _________ paid at closing can reduce the interest rate used to determine the monthly payments on a mortgage.
• When a financial institution sells a mortgage with recourse, the financial institution retains a credit risk liability in the event the buyer returns the mortgage.
• Mortgage borrowers must pay 20 percent of the home’s purchase price at closing as a down payment.
• The payment should be made when the cheques are presented for payment within a reasonable time after being drawn and during banking hours.
• Which of the following is/are false about Dishonour of Cheque? A) Section 138 defines Dishonour of cheque for insufficiency, etc., of funds in the account. B) Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier C) Imprisonment for such offence may be extended for period of five year D) Section 138 apply unless – the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.
• An equitable mortgage can be created in respect of _______?
• A mortgage can neither sue for foreclosure nor for sale of the property in...............
• Mortgage is defined under
• As part of a mortgage agreement, a financial institution places a lien on the property until the loan is paid in full.
• Which one of the following is the ratio of the loan principal to the appraised value?