|
Unit 3 : Lesson
2: How to shop for a loan
Oral practice — in pairs
Partner A: Look at Mortgage
Rate Chart A. Your partner should be looking at Mortgage
Rate Chart B on the next page. Ask
your partner questions to fill in blanks on chart A. Your
partner will have the information you need in his or her
chart. Do not look at your partner’s book.
Example: What are the rates on the 30-year
fixed-rate mortgage at Hometown Bank?
Mortgage Rate Chart A 
| Lender |
Terms |
Interest Rate |
Points |
| Hometown Bank |
30-year fixed |
______________ |
______________ |
| |
15-year fixed |
______________ |
______________ |
| |
1-year adjustable |
______________ |
______________ |
|
| Pacific Mortgages |
30-year fixed |
8% |
3 |
| |
15-year fixed |
7 1/4% |
2 3/4 |
| |
1-year adjustable |
5 3/4% |
3 |
|
| R. Smith Mortgages |
30-year fixed |
______________ |
______________ |
| |
15-year fixed |
______________ |
______________ |
| |
1-year adjustable |
______________ |
______________ |
|
| Central First |
30-year fixed |
8% |
2 7/8 |
| |
15-year fixed |
7 1/2% |
2 5/8 |
| |
1-year adjustable |
6 3/4% |
3 |
|
Previous
Page | Next Page
|
