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CHAMPIONS REAL ESTATE FINANCE I EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED $16.49   Add to cart

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CHAMPIONS REAL ESTATE FINANCE I EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED

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  • CHAMPIONS REAL ESTATE FINANCE I

The 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 - ACCURATE ANSWERS B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwrit...

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  • September 7, 2024
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  • 2024/2025
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  • CHAMPIONS REAL ESTATE FINANCE I
  • CHAMPIONS REAL ESTATE FINANCE I
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GRADEUNITS
CHAMPIONS REAL ESTATE FINANCE I
EXAM
CHAMPIONS REAL ESTATE FINANCE I EXAM WITH GUARANTEED ACCURATE
ANSWERS |VERIFIED




The 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 - ACCURATE ANSWERS✔✔ B


_________ is the process of creating a new mortgage loan.

,(a) Origination


(b) Funding


(c) Underwriting


(d) Servicing


* - ACCURATE ANSWERS✔✔ 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


* - ACCURATE ANSWERS✔✔ 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 - ACCURATE ANSWERS✔✔ 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 - ACCURATE ANSWERS✔✔ 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.

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