When considering assuming a homeowner's mortgage debt, what advantage might a borrower experience if market interest rates exceed the rate of the existing assumable mortgage? Select one: a. Rate protection against higher market interest rates b. Lower interest rate c. Flexibility to access property equity at any time d. Cash on closing A borrower is considering assuming the current homeowner's debt on the property being purchased. If market interest rates are currently higher than the rate of the existing, assumable mortgage, what would be a benefit of assuming the current mortgage? Select one: a. Cash on closing b. Flexibility to have access to the equity of their property at any time c. Lower interest rate d. Rate protection if market interest rates are currently higher than the borrower's contracted interest rate
When considering assuming a homeowner's mortgage debt, what advantage might a borrower experience if market interest rates exceed the rate of the existing assumable mortgage? Select one: a. Rate protection against higher market interest rates b. Lower interest rate c. Flexibility to access property equity at any time d. Cash on closing A borrower is considering assuming the current homeowner's debt on the property being purchased. If market interest rates are currently higher than the rate of the existing, assumable mortgage, what would be a benefit of assuming the current mortgage? Select one: a. Cash on closing b. Flexibility to have access to the equity of their property at any time c. Lower interest rate d. Rate protection if market interest rates are currently higher than the borrower's contracted interest rate
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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Transcribed Image Text:When considering assuming a homeowner's mortgage debt, what advantage might
a borrower experience if market interest rates exceed the rate of the existing
assumable mortgage?
Select one:
a. Rate protection against higher market interest rates
b. Lower interest rate
c. Flexibility to access property equity at any time
d. Cash on closing
Transcribed Image Text:A borrower is considering assuming the current homeowner's debt on the property
being purchased. If market interest rates are currently higher than the rate of the
existing, assumable mortgage, what would be a benefit of assuming the current
mortgage?
Select one:
a. Cash on closing
b. Flexibility to have access to the equity of their property at any time
c. Lower interest rate
d. Rate protection if market interest rates are currently higher than the
borrower's contracted interest rate
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