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Weekend Real Estate Report

Looking for Loan Rates?
Mortgage interest rates change everyday. Unlike other companies that advertise interest rates with hidden fees only to disappoint you later, we encourage you to contact one of our experienced loan officers right now to find out the best lending program currently available to meet your family’s needs today and for your future.

Test Your Financial Literacy

On average, high school seniors scored just over 50 percent on a quiz probing their knowledge of personal finance and economics. Test your financial know-how with a quiz similar to what the students took with our version of the questionnaire:

1. Which type of automobile insurance would cover damage to your own car, assuming that you have caused an accident?

A. Progressive
B. Collision
C. Comprehensive
D. Liability

2. Which of the following is a good way to improve your credit scores?

A. Cancel all credit cards
B. Only pay the ones with the largest balances
C. Pay all bills on time
D. File bankruptcy and start over

3. Negative amortization is best described as:

A. Buying a home below value
B. A fast way to build equity
C. A safe loan option
D. Ability to owe more than originally borrowed

4. APR is known as:

A. Accelerated Payment Rate
B. Actual Percentage Rate
C. Annual Percentage Rate
D. Always Prime Rate

5. A credit card contract can do which of the following:

A. Change your rate even if you are not late with them
B. Cancel your account at their discretion
C. Charge a late fee which could equal your minimum finance charge
D. All of the above

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Equal Housing Lender Gateway Funding Diversified Mortgage Services L.P. NMLS #1071 d/b/a Freedmont Mortgage Funding is a Licensed Mortgage Lender MD (#4297; NMLS ID: 294439); Licensed by the PA Dept of Banking (#21472.022). This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation, Rates, Terms, Fees, Products, Programs and Equity requirements are subject to change without notice. For qualified borrowers only. ©2011 Gateway Funding Diversified Mortgage Services, L.P.