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