What are FHA’s and VA’s roles in the mortgage market?

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What are FHA’s and VA’s roles in the mortgage market?

Explain what is meant by an amortizing mortgage.
Lara is buying a new home with a mortgage loan for $245,000.00 at 4.5 percent annual interest with a term of 30 years. What is the amount of the monthly payment necessary to amortize this debt?

References :

Allen, Charles F. Floyd and Marcus T. Real Estate Principles, 10th Edition. Dearborn Real Estate Education, 40550.0. VitalBook file.

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