Wraparound mortgage - Study guides, Class notes & Summaries

PRINCIPLES OF REAL ESTATE 2 CHAMPION EXAM WITH 100% CORRECT ANSWERS 2024 “What does D.U.S.T. stand for? - Correct Answer Demand, Utility, Scarcity, Transferability" "the percentage of value or sales price that a lender is willing to finance - Correct Answer Loan to Value Ratio (LTV)" "the value of a property is equal to the sum of the contributory value of each of its component parts. - Correct Answer principle of contribution" "the forces acting on a parcel of land are alwa...

Champions Real Estate Finance Final Exam With Correct Answers 2024 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...

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...

BARNEY FLETCHER FINAL EXAM | NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND VERIFIED ANSWERS GRADED A+ | 100% PASS | 2025 UPDATE!!! A homeowner with a mortgage replaced it with a new mortgage 3% lower in interest and obtained extra funds to make investments. This is called: A. subordination B. refinancing C. subrogation D. wraparound - Correct Answer > B. refinancing

Champions Real Estate Finance | 188 Questions and Answers 100% Correct

Loan-to-Value Ratio (LTV) ANS 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. 2. Package Mortgage ANS Includes both real and personal property ( fixtures and furnishings) 3. Blanket Mortgage ANS Covers more than one piece of property. 4. Wraparound Mortgage ANS Method of financing which preserv...

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 ...

PSI VA Actual Exam Questions With Reviewed 100% Correct Detailed Answers Guaranteed Pass!! 1. What is the legal term for a buyer? - ANSWER Vendee 2. What is the name of the party being represented in an agency relation ship? - ANSWER Principal 3. What the type of mortgage represents a junior lien in which the in which the second lender is used to payoff the first lender? - ANSWER Wraparound Mortgage 4. This is an attached item to a leased business property th...

Champions Real Estate Finance Questions & Revised Correct Answers <Updated < Already Passed> Loan-to-Value Ratio (LTV)- : 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- : Includes both real and personal property ( fixtures and furnishings) Blanket Mortg...

Loan-to-Value Ratio (LTV) 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 Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage Covers more than one piece of property. Wraparound Mortgage Method of financing which preserves the low, ...

Rockwell Ch.10 Quiz – Latest Update Graded A+ A buyer obtains a conventional loan for $180,000. The sales price of the property is $200,000. This could be considered a/an: a. 80% loan b. 90% loan c. 95% loan d. non-conforming loan b. 90% loan Explanation: The loan-to-value ratio of the loan is 90% ($180,000 / $200,000 = 0.9). A buyer obtains an 90% institutional loan for $180,000 toward the purchase of a $200,000 house. The buyer does not have the necessary $20,000 fo...