Question

Robbie is in the market for his second home. He made quite a bit of money on the sale of his first home and is using that for the down payment on his second home. Robbie just made an offer of offer of $560,000, where he is able to put a down payment of $112,000 which means this that he will be going to the bank for ___________________.

Question 4Select one:

a.
a reverse mortgage


b.
a high ratio mortgage


c.
a conventional mortgage


d.
a high ratio conventional mortgage

Answer 1

c. a conventional mortgage