Who can obtain a va loan - Study guides, Class notes & Summaries

COLORADO STATE REAL ESTATE EXAM QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+ The Amend/Extend Contract With Broker is used to change : - -Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - -non-applicable financing conditions In preparing a Contract to Buy/Sell, a broker can not put exculpatory language into: - -Additional Provisions of a commission approved c...

When the buyer assumes the sellers loan, the ______ becomes responsible for repayment of the loan as well as any other obligations to the lender. - Buyer Lenders view non-realty items within the real estate contract to be ______, and therefore the value of those items needs to be deducted from the sales price. - Sales concession When completing the contract how should you describe the location of the property - Lot and block legal description The fixtures that are included in the one to...

A - The mortgage loan originator's role involves all of the following EXCEPT: A. Loyalty is owed to the party paying the mortgage loan originator's compensation. B. Ensuring the loan program is suitable for the borrower's needs. C. Qualifying the borrower's financial ability to meet the loan obligations. D. Helping the borrower compile a complete and accurate application. A - Which of the following statements is true about the SAFE Act? A. Requires states to set minimum net worth or su...

NMLS Practice Test Hard Questions and A A discount point is BEST described as a charge the borrower pays to: A.)A lender to decrease the interest rate on the mortgage loan B.)A mortgage broker at the time of application to obtain a favorable rate C.)The seller as part of the closing costs of a loan D.)A lender to ensure against foreclosure - Answer-A.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of $5,000. The buyer pays an ad...

California Real Estate License Exam 1 Questions and Answers 100% Pass 1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property...

Gold Coast 45 Hour Exam Questions(exam version H 2023)updated already passed Property managers who are employed and compensated by community associations are required to obtain and maintain which type of license? CAM What term is used for the practice of specializing in one particular residential neighborhood or type of property? Farming upon closing a sales transaction who pays the sales associate their contracted commission? Employing Broker Home sold for $250k wit...

NMLS Test Outline Questions and Answers Already Passed RESPA disclosures? due dates? 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sen...

Champions School Of Real Estate Finance Exam 2024 Tested And Verified A home equity loan available to homeowners over 62 years of age - the lender makes payments to the borrower based on the equity in the property - the loan comes due upon the sale of the property or the death of the owner. - Reverse Annuity Mortgage A loan with an interest rate tied to a readily available index - the rate will be adjusted periodically causing payment changes. - Adjustable Rate Mortgage (ARM) The refu...

Mortgage - ANSWERSA pledge of real property as security for a debt. Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWERSA personal promise to repay a debt. Mortgagor - ANSWERSBorrower under a mortgage Mortgagee - ANSWERSLender under a mortgage Beneficiary - ANSWERSLender under a deed of trust Trustor - ANSWERSBorrower under a deed of trust Trustee - ANSWERSA third party under a deed of trust who acts as an agent...

NMLS Final Exam Questions with Correct A Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - Answer-A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - Answer-C. Gramm-Leach-Bliley Act Which do...