Asked by Jordan Parker on May 31, 2024
Verified
Most state and local government programs usually have ______ interest rates than conventional loans, often with ______ maturities.
A) higher; longer
B) higher; shorter
C) lower; longer
D) lower; shorter
Conventional Loans
A mortgage loan that is not insured or guaranteed by the federal government, typically requiring a higher credit score and a minimum down payment.
- Comprehend the consequences of loan conditions including duration, interest rates, and payment timelines.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
C
Explanation :
Most state and local government programs are designed to encourage certain types of investments or activities, and as such, they typically offer lower interest rates than conventional loans to make these programs more attractive. Additionally, they often come with longer maturities to provide ample time for the investment to mature and for the borrower to repay the loan.
Learning Objectives
- Comprehend the consequences of loan conditions including duration, interest rates, and payment timelines.