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18 November, 18:59

Heather and Joe want the lowest interest rate for their residential mortgage. which financial institution is designed to offer low interest rates on residential mortgages?

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  1. 18 November, 21:54
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    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.
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