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Xinnix SOAR Final Exam Questions Compilation | 100% Correct Answers | 566 Questions | 41 Pages | Everything you need
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FNMA and FHLMC are what type of loan? - conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - true conventional loans are not insured by the federal government - true Agency loans in...
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Add to cartFNMA and FHLMC are what type of loan? - conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - true conventional loans are not insured by the federal government - true Agency loans in...
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Xinnix SOAR Mock Exam | 70 Questions with 100% Correct Answers
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A fixed-rate second mortgage has the loan amount fully disbursed at closing. Monthly payments are amortized over the term of the loan. Once the balance is paid off the mortgage is closed. - True A veteran may exchange a portion of their entitlement for cash. - False Judgments and tax liens are r...
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Add to cartA fixed-rate second mortgage has the loan amount fully disbursed at closing. Monthly payments are amortized over the term of the loan. Once the balance is paid off the mortgage is closed. - True A veteran may exchange a portion of their entitlement for cash. - False Judgments and tax liens are r...
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Xinnix Final | 186 Questions with 100% Correct Answers
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A veteran has the ability to transfer a portion of their entitlement to another veteran. - False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. - False Based on the following scenario...
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Add to cartA veteran has the ability to transfer a portion of their entitlement to another veteran. - False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. - False Based on the following scenario...
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Xinnix Ground School Mortgage Final Exam | 55 Questions with 100% Correct Answers
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On an FHA loan the upfront MIP should be included when calculating cash-to-close. - False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) - False A 3-Year ARM adjusts every 3 years - True A Loan Officer can locate the summary of the eligibility ...
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Add to cartOn an FHA loan the upfront MIP should be included when calculating cash-to-close. - False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) - False A 3-Year ARM adjusts every 3 years - True A Loan Officer can locate the summary of the eligibility ...
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Xinnix Final | 117 Questions with 100% Correct Answers
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A veteran has the ability to transfer a portion of their entitlement to another veteran. - False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. - False Based on the following scenario...
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Add to cartA veteran has the ability to transfer a portion of their entitlement to another veteran. - False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. - False Based on the following scenario...
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Xinnix Ground School | 145 Questions with 100% Correct Answers
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Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. - False YTD paystubs will be requires from a borrower that is self-employed (schedule C) - False A borrower req...
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Add to cartFlipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. - False YTD paystubs will be requires from a borrower that is self-employed (schedule C) - False A borrower req...
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