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Unit 3 : Lesson
2: How to shop for a loan
Oral practice — in pairs
Partner B: Look at Mortgage
Rate Chart B. Your partner should be looking at Mortgage
Rate Chart B on the previous page.
Ask your partner questions to fill in blanks on chart B.
Then write the information in the chart. Do not look at
your partner’s book.
Example: What are the rates on the 30-year
fixed-rate mortgage at Pacific Mortgages?
Mortgage Rate Chart B 
| Lender |
Terms |
Interest Rate |
Points |
| Hometown Bank |
30-year fixed |
8% |
3 |
| |
15-year fixed |
7 1/2% |
2 1/2 |
| |
1-year adjustable |
6 1/2% |
2 |
|
| Pacific Mortgages |
30-year fixed |
______________ |
______________ |
| |
15-year fixed |
______________ |
______________ |
| |
1-year adjustable |
______________ |
______________ |
|
| R. Smith Mortgages |
30-year fixed |
9% |
0 |
| |
15-year fixed |
8% |
0 |
| |
1-year adjustable |
6 3/4% |
3 |
|
| Central First |
30-year fixed |
______________ |
______________ |
| |
15-year fixed |
______________ |
______________ |
| |
1-year adjustable |
______________ |
______________ |
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