Discuss whether a Mortgage Reducing Term Takaful can be taken for coverage of a conventional housing loan? (Recommend that you support your answers with proper Shariah evidence)
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Discuss whether a Mortgage Reducing Term Takaful can be taken for coverage of
a conventional housing loan? (Recommend that you support your answers with
proper Shariah evidence)
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Solved in 2 steps
- Explain at least two benefits of using a real estate broker. What is private mortgage insurance? How does it work to protect a lender from risk? What are the three 'C's' of mortgage underwriting? What is one way in which each of the 'C's' is measured? What is the APR? Discuss at least two concerns that the APR does not capture the full costs of a mortgage.Which of the following is a feature of a home equity loan? Group of answer choices a. The interest rate on a home equity loan is higher than that on other loans. b. The interest paid on a home equity loan is usually tax deductible. c. A home equity loan is generally the first mortgage loan. d. A home equity loan is a single-payment loan. e. A home equity loan is an unsecured loan.Explain the use of a balloon-payment mortgage. Why might a financial institution prefer to offer this type of mortgage?
- Introduction: what mortgage points are and why people choose to opt-in for it ? what the advantages and disadvantages of using a mortgage point is ? And give an example using numbers present value and future value? Make a report.Given the role of the loan originator in the securitization process of a mortgage loan described in the text,do you think the loan originator will be worried aboutthe ability of a household to meet its monthly mortgagepayments?If you were applying for a home mortgage loan today, would a lender viewyour debt-to-assets ratio favorably? Why or why not?
- What are the key principles underlying both conventional and Islamic home financing techniques? Who retains the title to the property in each transaction? What are the Shariah rules applied in the case of home finance?Explain in your own words the difference between the lender's yield and the effective borrowing cost. What are mortgage discount points? When does it make sense to pay points on a loan? How can a borrower make a decision? Find a web source where you can compare mortgage options. Post a link here and discuss the clarity of information provided.What is meant by mortgage foreclosure, and what alternatives are there to such action?
- Why might a borrower be willing to pay a higher price for a home with an assumable loan?Explain Qualified mortgages?What is the surety status of any grantees who have assumed the mortgage? Will an extension of time for the payment of the debt secured by the mortgage terminate the liability of such sureties?