Challenge Your Exam Readiness With Our Free Loan Officer Practice Questions

Question # 60

What is the main repayment risk of a balloon mortgage?

Options:

A.

Monthly payments rise annually.

B.

Borrower faces a large lump-sum payment at the end of the term.

C.

Loan requires higher credit scores.

D.

Interest rates reset every month.

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Loan Officer Overview

Name Loan Officer
Code Loan Officer
Vendor Finance, Insurance and Real Est
Certification State Licensing Boards

Loan Officer Questions