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Fixed-rate mortgage and adjustable-rate mortgage

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Reference no: EM133172703

1. Describe the difference between a Fixed-Rate Mortgage and an Adjustable-Rate Mortgage. Include 1 pro and 1 con for each and explain why someone would pick one over the other.

2. It is important for buyers to be well-educated on their loan options so they do not fall victim to predatory loans. Explain why it is important for buyers to do their homework and ask questions before and during the loan process.

Reference no: EM133172703

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