Exam (elaborations)
Real Estate Finance I-CHAMPIONS| 60 questions and answers
- Course
- CHAMPIONS REAL ESTATE
- Institution
- Havard School
Real Estate Finance I-CHAMPIONS| 60 questions and answers
[Show more]
1 review
By: morenomichelle29 • 6 months ago
By: FREEMANSHARP • 6 months ago
THANKS for the positive review HMU at REVISIONMATERIALS01 AT GMAIL to discuss or request a document
By: FREEMANSHARP • 5 months ago
Thank you so much for your positive review and for your purchase!
Content preview
Real Estate Finance I-CHAMPIONS 60 questions and answersThe minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - answer B
_________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing - answer A
A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of (b) The prior VA loan was assumed by an eligible veteran who substituted their entitlement (c) A or B (d) Under no circumstances - a VA loan is a "once in a lifetime" benefit - answer C
_________ are not-for-profit organizations that exist to serve their members. (a) Mortgage companies (b) Credit unions (c) Insurance companies (d) One that cannot be financed - answer B
A qualifying ratio that compares the borrower's proposed house payment to their gross monthly
income is the __________. (a) Back ratio (b) Appraisal ratio (c) Front ratio (d) Loan to value ratio - answer C Periodic payment amounts such as principal & interest, estimated escrow, estimated monthly payment, and __________ must be disclosed in the Projected Payments section of the Loan Estimate form. (a) Mortgage Insurance (b) Homeowner's insurance (c) Property value (d) Estimated inspection cost - answer A
___________ relates to Federal Government spending. (a) Monetary policy (b) Legislative policy (c) Reserve requirement (d) Fiscal policy - answer D
In the Closing Disclosure, prepaids include homeowner's and mortgage insurance premiums, prepaid interest, property taxes, and a maximum of __________ additional items. (a) 13 (b) 3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FREEMANSHARP. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now