1. Discuss the difference between (a) roll-over mortgage, (b) interest-only mortgage, (c) adjustable-rate mortgage, and (d) fixed-rate mortgage
2. To the nearest dollar, what is the monthly payment on a $200,000 conventional fixed-rate mortgage, 7 percent, financed for 15 years?
3. If a 15-years monthly-payment $200,000 mortgage has a 7 percent annual percentage rate. What is the loan balance after 10 years if all payments are made on time as agreed?
4. What is the monthly payment on a $100,000 fixed rate loan with a 6.5% rate with a term of 30 years?