.jpeg)
.jpg)
Lesson 4
MORTGAGES
Vocabulary Practice :
1.B. Conveyance
2.C. Finance
3.C. Tight
4.B. Mortgages
5.A. Life
PRACTICE
A. Complete each sentence by selecting the correct form of raise or rise
1.A. Raising
2.B. Raised
3.A. Risen
4.A. Rise
5.B. Raise
B. Complete each sentence by selecting the correct form fall or lower
1.A. Lowered
2.B. Failing
3.B. Fallen
4.B. Fallen
5.A, Lower
Building Your Vocabulary
A. Matching.
1. J. Title
2. D. Fluctuate
3. E. Limit
4. C. Guarantee
5. A. Rise
6. H. Supply
7. I. Foreclose
8. B. Adjust
9. F. Fixed
10. G. Mortgagee
STRUCTURE PRACTICE
C. Select the form of the verb that correctly completes each sentence
1. C. Rising
2. B. Began
3. A. Spoken
4. C. Took
5. A. Hold
6. A. Write
1. What index does the Brookline Savings Bank use to determine current mortgage rates ?
* The index used by the Brookline Savings Bank is the Federal Home Loan Bank Board's "Conventional Home Mortgage Closing Rates, All Lenders/All Homes (U.S Effective Rate)".
2. What causes changes in the cost of money that a savings bank lends ?
* Because the cost of money a savings bank lends to you changes with the rate of interest it pays it depositors, the VRM is an equitable method of financing for both home buyers and lenders.
3. How long is the guaranteed-rate period ?
* The guaranteed-rate period is every six months.
4. By how much may the bank increase your mortgage rate ?
* If the index is ¼ % or more above your mortgage rate, and increase may be made at the option of the bank.
5. Must the bank increase your mortgage rate if the FHLBB rate increase ?
* Yes, if the FHLBB rate increases, the bank must increase the mortgage.
6. Is there any limit to how high your rate can go over the life of the mortgage ?
* No limit to how high or low your rate can go over an extended period of time.
7. When does the bank inform the mortgagor about changes in his or her mortgage rate ?
* At least 30 days before the new rate is to go into effect.
8. Study the example of the $50,000 loan.
a. What was the initial rate? * 9.10
b. How many increases were there over these five years? * 6 increases from 12 months until 42 months.
c. How many decreases? * 3 decreases from 48 months until 60 months.
d. How much did monthy payments rise over the five years? * $54,71
MORTGAGES
Vocabulary Practice :
1.B. Conveyance
2.C. Finance
3.C. Tight
4.B. Mortgages
5.A. Life
PRACTICE
A. Complete each sentence by selecting the correct form of raise or rise
1.A. Raising
2.B. Raised
3.A. Risen
4.A. Rise
5.B. Raise
B. Complete each sentence by selecting the correct form fall or lower
1.A. Lowered
2.B. Failing
3.B. Fallen
4.B. Fallen
5.A, Lower
Building Your Vocabulary
A. Matching.
1. J. Title
2. D. Fluctuate
3. E. Limit
4. C. Guarantee
5. A. Rise
6. H. Supply
7. I. Foreclose
8. B. Adjust
9. F. Fixed
10. G. Mortgagee
STRUCTURE PRACTICE
C. Select the form of the verb that correctly completes each sentence
1. C. Rising
2. B. Began
3. A. Spoken
4. C. Took
5. A. Hold
6. A. Write
1. What index does the Brookline Savings Bank use to determine current mortgage rates ?
* The index used by the Brookline Savings Bank is the Federal Home Loan Bank Board's "Conventional Home Mortgage Closing Rates, All Lenders/All Homes (U.S Effective Rate)".
2. What causes changes in the cost of money that a savings bank lends ?
* Because the cost of money a savings bank lends to you changes with the rate of interest it pays it depositors, the VRM is an equitable method of financing for both home buyers and lenders.
3. How long is the guaranteed-rate period ?
* The guaranteed-rate period is every six months.
4. By how much may the bank increase your mortgage rate ?
* If the index is ¼ % or more above your mortgage rate, and increase may be made at the option of the bank.
5. Must the bank increase your mortgage rate if the FHLBB rate increase ?
* Yes, if the FHLBB rate increases, the bank must increase the mortgage.
6. Is there any limit to how high your rate can go over the life of the mortgage ?
* No limit to how high or low your rate can go over an extended period of time.
7. When does the bank inform the mortgagor about changes in his or her mortgage rate ?
* At least 30 days before the new rate is to go into effect.
8. Study the example of the $50,000 loan.
a. What was the initial rate? * 9.10
b. How many increases were there over these five years? * 6 increases from 12 months until 42 months.
c. How many decreases? * 3 decreases from 48 months until 60 months.
d. How much did monthy payments rise over the five years? * $54,71
Tidak ada komentar:
Posting Komentar