Fha mortgage insurance - Study guides, Class notes & Summaries

Champions School Of Real Estate Finance 2024 Tested And Verified Seller's market - CORRECT ANSWER-When supply is low and demand is high Buyer's market - CORRECT ANSWER-When supply is high and demand is low The process of creating a new mortgage loan - CORRECT ANSWER-Origination The detailed process of evaluating a borrower's loan application to determine the risk involved for the lender - CORRECT ANSWER-Underwriting When there is an excess of money supply in the market - CORRECT ANSWER...

Superior NC Real Estate Important Final Exam Questions and Answers RESPA -Answer--Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) -Answer-C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower is...

PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2023/2024 A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called ️ a contract Antitrust laws prohibit competing brokers from all of the following ️ 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probabl...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - Answer- Closing The primary determinants of real estate values are supply and _____. - Answer- Demand _____ is something of value that can be pledged as security for repayment of a loan. - Answer- Collateral Servicing includes which of the following activities? - Answer- Maintaining records of payment The monet...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising o...

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer- 50% Which is the maximum recommended housing ratio for renting an apartment? - Answer- 30% Eligibility requirements for down-payment assistance programs include which factors? - Answer- Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Answer- 1.7...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...