Banks and other lenders are required to disclose a rate called the APR. What is this rate?Why did Congress require that it be disclosed? Is it the same as the effective annual rate? Ifyou were comparing the costs of loans from different lenders, could you use their APRs todetermine the loan with the lowest effective interest rate? Explain.

Simple interest refers to interest on a loan computed as a percentage of the loan amount. Compound interest refers to the process of, investing your money. saving your money. C a loan amortization. a loan computed at a nominal interest rate. E earning interest on interest.

What is the interest rate the borrower will pay after the first rate adjustment?

Which of the following are characteristics of consumer closed credit (installment debt)? 1. generally the loan is larger than what is available with revolving credit 2. flexibility in the amount and timing of the debt repayment 3. the loan repayment is often fully amortized 4. the interest rate on a collateralized installment loan is typically lower than the interest rate on unsecured revolving credit 5. if the loan is paid before the grace period, then no interest applies 1 and 2 O 2, 4 and 5 O 1, 3 and 4 O 3 and 4

What are mortgage discount points?  When does it make sense to pay points on a loan?  How can a borrower make a decision?

What are the main differences in the underwriting guidelines between Freddie Mac and FHA loans?

Discuss some of the most elementary terms used in fixed interest rate loans?

what is the relationship between tne intrest rate and the bank prime loan rate

Describe payday loans, tax-refund advances and structured-settlement advances—the differences between these financing products and the concerns that are associated with similar short-term loan products. Specifically, explain the effect these can have on your future cashflow.

If you were applying for a home mortgage loan today, would a lender viewyour debt-to-assets ratio favorably? Why or why not?