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Financial Planner

Category - General Principles of Financial Planning

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What type of product has underlying terms and conditions that meet the funding criteria set by Fannie Mae and Freddie Mac?

Conventional Mortgage
Adjustable Rate Mortgage
Ratio Mortgage
Unsecured debt

Explanation

Answer: A - Conventional mortgages are a type of product that has underlying terms and conditions that meet the funding criteria set by Fannie Mae and Freddie Mac. These mortgages can be fixed-rate or adjustable-rate mortgages; however, they are predominately fixed-rate with the tradition mortgage timeframe of 30-years.

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Financial Planner

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