Mortgage 101

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Across
  1. 1. provides loans for veterans & their families
  2. 5. represents a change in policy
  3. 8. promotes agricultural trade and production
  4. 9. borrower resides at this location
  5. 14. when the dwelling coverage is less than required
  6. 16. helps people of low and mid-level incomes to acquire loans
  7. 17. an agreement by which a loan is granted to purchase property
  8. 18. agency that backs most flood policies
  9. 21. reduces the original loan and increases the equity
  10. 22. request for payment
  11. 23. states policy will stay in force regardless of prior notices
  12. 24. notice that coverage will stop on a specific date
  13. 25. represents the investor's return for loaning the funds
  14. 26. created to provide flood insurance & develop maps for SFHA
Down
  1. 2. insurance industry standard form
  2. 3. the company to whom borrower pays mortgage payments
  3. 4. best & most effective way of providing proof of insurance
  4. 6. this is not the borrower's primary residence
  5. 7. also known as fire insurance
  6. 10. offer to continue coverage for another term with payment
  7. 11. annual reconciliation of escrow account
  8. 12. sets standards for construction & underwriting
  9. 13. insured's responsibility in the event of a claim
  10. 15. for the payment of taxes, hazard insurance, special fees
  11. 19. temporary proof of insurance
  12. 20. consumer seeking to finance residence