Compare types of mortgage loans offered by different

Question

Mortgage loan comparisons can be very confusing. There are numerous mortgage categories and then within each category one can create an endless number of products by altering the rate, the points and even the closing fees. Hence, the same lender can offer 10, 20, or 30 year FRM (fixed rate mortgages) each requiring different up-front fees and points and different monthly payments. The following web site exercises will help you to:

Compare types of mortgage loans offered by different lenders.

Compare various 30-year FRM offered by the same lender.

Answer 1

Perform the following tasks as per the requisites of the problem. Mortgage loan comparisons can be extremely puzzling. There are many mortgage classes and then in each category one can make an endless number of products by modifying the rate, the points and even the closing fees. Therefore, similar lender can offer 10, 20, or 30 year FRM (that is, fixed rate mortgages) each needing different up-front fees and points and different monthly payments. The given website exercises will assist you to: 1) Compare kinds of mortgage loans offered via different lenders. 2) Compare different 30-year FRM offered by the similar lender.