Heather and Joe want the lowest interest rate for their residential mortgage. which financial institution is designed to offer l

Question

julia-pushkina [17]

3 years ago

11

Heather and Joe want the lowest interest rate for their residential mortgage. which financial institution is designed to offer l

ow interest rates on residential mortgages?

Computers and Technology

1 answer:

Reil [10] · Answer 1 · 2021-12-11T13:56:05+03:00

The answer is Nonbank Financial institutions – Savings and Loans association or better known as S&Ls.

S&Ls focus strongly on residential mortgages. By law, they need to invest 65% of their assets or more in residential mortgages. Savings and Loan associations resembles banks or credit unions in many aspects, but is always for profit.