Dti total debt to income - Study guides, Class notes & Summaries

NMLS Vocabulary 2023/2024 Prerequisite pretest Exam training Questions with Rated A + Marking Scheme Cost of Funds Index (COFI) - correct answer A regional average of interest expenses incurred by financial institutions, which in turn is used as a base for calculating variable rate loans Credit - correct answer Sum of money to be received Credit Freeze - correct answer A consumer request that requires the credit bureaus to deny all access to a consumer's credit information or f...

RE License Test Questions and Answers Latest Update 2024/2025 Graded A+. Blake is allowed to use his property in a way that's prohibited under current zoning ordinances, because those ordinances would cause undue hardship for him. What gives him this permission? - answerUSE VARIANCE; This is a Use Variance. In contrast, an applicant for a Special Use permit doesn't have to show hardship, simply that the proposed use meets the conditions already contained in the ordinance (e.g., change in s...

RE License Test Questions and Answers Latest Update 2024/2025 Graded A+ | Verified. Ashton, an appraiser, is estimating value using the sales comparison approach. He applies more weight to two comparables over several others he used. What process is he utilizing? - answerCorrelation; Through a correlation process, the most weight may be given to one or two comparables, or equal weight may be given to all. The term reconciliation is often synonymous with correlation. Blake is allowed to use ...

RE License Test Questions and Answers Latest Update 2024/2025 Graded A+. Ashton, an appraiser, is estimating value using the sales comparison approach. He applies more weight to two comparables over several others he used. What process is he utilizing? - answerCorrelation; Through a correlation process, the most weight may be given to one or two comparables, or equal weight may be given to all. The term reconciliation is often synonymous with correlation. Blake is allowed to use his propert...

Ashton, an appraiser, is estimating value using the sales comparison approach. He applies more weight to two comparables over several others he used. What process is he utilizing? - answerCorrelation; Through a correlation process, the most weight may be given to one or two comparables, or equal weight may be given to all. The term reconciliation is often synonymous with correlation. Blake is allowed to use his property in a way that's prohibited under current zoning ordinances, because t...

Julie has received notice that the house she is renting was sold in foreclosure. She has a month-to-month lease, so how long does she have until her lease may be terminated? - Answer-90 days Amy acts like a salesperson and is supervised by a broker, but she holds her broker's license. What is her job title? - Answer-Associate broker Which one of the following statements about investors and tax depreciation is true? - Answer-Investors can depreciate an appreciating asset. Which of these...

Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some date in the future, generally with interest. The term also refers to the borrowing capacity of an individual or company. Five C's of Credit a system used by lenders to gauge the creditworthiness of potential borrowers. The system weighs five characteristics of the borrower and conditions of the loan, attempting to estimate the chance of default and, consequently, the r...

Rental Obstacle + Solutions: Low Income - Answer -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Answer Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credi...

To obtain financing to fund a cooperative purchase, a buyer will apply for? - Answer-Share loan One issue with guiding buyers toward or away from an area because of perceived school quality is that school quality is often used as a proxy for? - Answer-Race Which of the following was designed to monitor whether financial institutions were adequately serving the credit needs of their communities and not engaging in redlining? - Answer-HMDA Home buying programs for Long Island borrowers ar...

A person Performing real estate activities under the judgment of order of the court, such as the trustee in a bankruptcy, is? Not required to have a real state license What are the standard ratios for debt to income and also total debt to income? 25 to 28 DTI and TDTI 33 to 36 What phrase or words are required on a deed and are considered an "active of convenience " Grant and convey What is defined as a high rise buildings? A high-rise building is 11 to 39 stories ...