Origination points - Study guides, Class notes & Summaries

NYS Real Estate Exam 2024 Which of the following is considered a fixed operating expense? utilities, cleaning expenses, insurance premiums, management fees. - Answer ️️ -Insurance Premiums What is overage rent? - Answer ️️ -Rent calculated on a percentage of sales volume what is the amount a buyer owes at closing equal to? - Answer ️️ -The excess of the buyers debits over the buyers credits real estate agents are typically what kind of agent - Answer ️️ -special agent what...

OKLAHOMA REAL ESTATE EXAM PREP LATEST UPDATE GRADED A+ WHAT TYPE OF CONTRACT IS A REAL ESTATE OPTION CONTRACT? UNILATERAL CONTRACT DURING AN APPRAISAL OF A RESIDENTIAL PROPERTY AN APPRAISER ESTIMATES THE COST OF REBUILDING THE SUBJECT PROPERTY SO THAT IT IS IDENTICAL TO ITS CURRENT SIZE AND CONDITION IS AN EXAMPLE OF WHAT TYPE OF APPRAISAL PRINCIPLE? SUBSTITUTION ACCORDING TO THE STATUTE OF FRAUDS IN ORDER FOR A REAL ESTATE SALES CONTRACT TO BE ENFORCEABLE IN COURT THEY MUST BE ...

FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are correct answers 28% (HER) and 36% (TOR). Yesterday, a broker obtained a 90-day listing contract that has a self-renewing provision extending the agreement an additional 60 days after expiration unless either party cancels in writing. The listing contract is correct answers void. Unlicensed personal assistants correct answers who are directed by the sales associate in how to do their jobs cannot be class...

Aceable Agent - Principles of Real Estate II Exam Notes 2023/2024 TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - ANSWER-Formulas to calculate commission? PRINCIPAL - ANSWER-What is the term that describes the money that is lent? CASH TO CLOSE - ANSWER-Down payment minus earnest money? TOTAL SALES PRICE - ANSWER-Loan payment + loan principal? ORIGINATION POINTS - ANSWER-Loan points/fees charged 1% to compensate loan officers for underwriting and admi...

FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are correct answers 28% (HER) and 36% (TOR). Yesterday, a broker obtained a 90-day listing contract that has a self-renewing provision extending the agreement an additional 60 days after expiration unless either party cancels in writing. The listing contract is correct answers void. Unlicensed personal assistants correct answers who are directed by the sales associate in how to do their jobs cannot be class...

Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Which of the following would create legally binding acceptance of a written offer? The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 27...

PreLicensing Final Exam| Q & A, 100% verified| 2024 PreLicensing Final Exam| Q & A, 100% verified| 2024 A broker advertises his listing as waterfront. The property has a great view of the lake, but there is another lot located b/w the listed property & the lakeshore. The listing agent may be guilty of Willful B. Misrepresentation A broker engaging in property management is generally tasked by the property owner with C. Reinvesting profits to build the owner's investment portfolio...

Home Equity Conversion Mortgage (HECM) is also known as a(n): - ANSWER reverse mortgage the ______________ act created the consumer financial protection bureau (CFPB) - ANSWER Dodd-Frank what are fees paid to the lender to compensate the loan company or bank for evaluating, processing, and approving a mortgage? - ANSWER origination points a house has 3 distinct rectangular shapes: A=20'x30' B=10'x10' C=75'x50' what is the square footage total? - ANSWER 4450 ft2 in a "c...

Loan Point correct answers1% is 1 point. 1% of loan amount Loan Origination Fee correct answerscompensation for processing a new Mortage loan discount points correct answershelps permanently reduce loans interest buydown correct answersinterest pre-payment at closing to temporarily reduce interest rates, usually for a period of one to three years loan to value ratio correct answers(LTVR) is the ration of the loan amount to the property value (sale price or appraised value whichever i...

NMLS Safe Test Mortgage Licensing Practice Exam Questions With Verified Answers Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - answerTILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - answerLoan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-o...