Discuss below in a 250 words:
Q1: What are FHA's and VA's roles in the mortgage market?
Q2: Explain what is meant by an amortizing mortgage.
Q3: Lara is buying a new home with a mortgage loan for $245,000.00 at 4.5 percent annual interest with a term of 30 years. What is the amount of the monthly payment necessary to amortize this debt?
References :
Allen, Charles F. Floyd and Marcus T. Real Estate Principles, 10th Edition. Dearborn Real Estate Education, 40550.0. VitalBook file