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Week 7
Minimum 250 words – single space – NO cover sheet – must reference book with page number:

What are FHA’s and VA’s roles in the mortgage market?
Explain what is meant by an amortizing mortgage.
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. 


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