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If I have just taken a mortgage loan of $300,000 for a new home purchase...

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Finance

If I have just taken a mortgage loan of $300,000 for a new home purchase behind the Commerce Elementary School, and if my interest rate is 12% per year, my monthly payment will equal approximately $3,085 for a 30 year loan.

True
False

Most of the mortgage loan contracts are designed to:

protect the mortgage brokers

protect the borrower from over payment on loan payments to brokers

protect the lender from financial loss

protect all parties against each others' cheating

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