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Questions and Answers
According to the video, what is the most important question that should be posed to borrowers when selling a loan?
According to the video, what is the most important question that should be posed to borrowers when selling a loan?
- What their income is
- How long they need to borrow the money for (correct)
- How much money they need to borrow
- What their credit score is
What type of loan program does Tim Braheem recommend as a better option for most people?
What type of loan program does Tim Braheem recommend as a better option for most people?
- Adjustable-rate mortgage
- 15-year fixed-rate mortgage
- Hybrid ARM (correct)
- 30-year fixed-rate mortgage
What is the potential advantage of an interest only loan for someone with a reasonable degree of financial discipline?
What is the potential advantage of an interest only loan for someone with a reasonable degree of financial discipline?
- The potential to earn an arbitrage by investing the difference in payments (correct)
- The accumulation of equity from real estate
- The ability to control cash flow
- The flexibility for commission-based salespeople
Why might someone consider a shorter term fixed rate mortgage?
Why might someone consider a shorter term fixed rate mortgage?
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According to the author, why do most people not benefit from the 30 or 15 year fixed-rate mortgages?
According to the author, why do most people not benefit from the 30 or 15 year fixed-rate mortgages?
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