Conventional loan Study guides, Class notes & Summaries
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45 Hour Post Licensing Exam Questions with 100% Correct Answers
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A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for Correct Answer $300,000 
 
What facts need not be disclosed in a real estate transaction? Correct Answer The property was the site of a homicide. 
 
What is a good graphic to show a seller that there will be more activity if the property is competitively priced? Correct Answer The pricing pyramid 
 
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee i...
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Real Estate NJ Test with Questions and Correct Answers| Graded to Pass
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A home is being purchased for $275,000. The buyer agrees to an 80% loan with the seller paying $5,000 of the buyer's closing costs. What amount will the ... - $55,000 
 
A national company desires a parcel of land which must be four times the size of its proposed building. If the building design includes 20,000 square feet .... - B) 2 acres 
 
A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the .... Acco...
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Rockwell Real Estate Exam WA 2 Questions and Answers Already Passed
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Rockwell Real Estate Exam WA 2 
Questions and Answers Already Passed 
 
A bathroom contains a toilet, a sink, and a stand-up shower. This would be considered a: 
 
A. one-quarter bath 
B. half bath 
C. three-quarter bath 
D. full bath C. three-quarter bath 
 
A bathroom with sink, toilet, and stand-up shower is a three-quarter bath 
 
A conventional loan can be: 
 
A. an ARM 
B. a 15-year loan 
C. a 30-year loan 
D. All of the above D. all of the above 
 
A conventional loan is one that is not i...
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Xinnix SOAR Final Questions With Verified Answers Graded A+
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Xinnix SOAR Final Questions With Verified Answers Graded A+ 
FNMA and FHLMC are what type of loan? 
conforming 
 
 
the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies 
true 
 
 
conventional loans are not insured by the federal government 
true 
 
 
Agency loans include FHA and VA loans 
true 
 
 
the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool 
t...
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Florida Real Estate STATE exam Questions and Answers 100% Pass
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Florida Real Estate STATE exam Questions and Answers 100% Pass 
The best protection that the public has during a Real Estate transaction is (are) 
A. The national and state association of REALTORS 
B. The punishment of licensees dealing dishonesty 
C. the high ethical standards of real estate agents D. FREC and the license law D. FREC and the license law 
A group license 
A. allows a broker to have a branch office 
B. allows a sales associate to work for more than one broker 
C. may be held by a...
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HUD Midterm Exam Questions With All Correct Answers 2024.
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Conventional Loan - Answer Front end 28% 
Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms 
 
FHA - Answer Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
EEM (Energy) FHA - Answer Front end 33% 
Back end 45% 
 
VA - Answer 41% 
 
USDA - Answer Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down pay...
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MLO Test Questions & Answers 100% correct 2024
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Which of the following best describes a 2nd mortgage loan? 
(A) A conventional mortgage that is conforming 
(B) A conventional mortgage that is non-conforming 
(C) A conforming loan that is non-conventional 
(D) A non-conforming loan that is non-conventional correct answers(B) A conventional mortgage that is non-conforming 
 
WHY? 
 
Non-conforming because it is a Second Mortgage and that falls outside the Frannie Mae - Freddie Mac guidelines 
 
It is important to understand that a conforming lo...
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Champions Promulgated Contract Forms Book Review Questions & Answers 100% Accurate!
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Champions Promulgated Contract Forms Book Review Questions & Answers 100% Accurate!The two most common disclosure forms include - ANSWER-Texas Real Estate Commission, and 
Texas Association of REALTORS® 
 
A conventional loan is best described as any loan - ANSWER-that is not a government loan. 
 
A "meeting of the minds" - ANSWER-Mutual consent 
 
A contract in which only one party is obligated to 
perform - ANSWER-Unilateral contract 
 
Something given in exchange for a promise - ANSWER-Con...
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Champions Promulgated Contract Forms Book Review Questions and Answers 100% Correct
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Champions Promulgated Contract Forms Book Review Questions and Answers 100% CorrectChampions Promulgated Contract Forms Book Review Questions and Answers 100% CorrectChampions Promulgated Contract Forms Book Review Questions and Answers 100% CorrectThe two most common disclosure forms include - ANSWER-Texas Real Estate Commission, and 
Texas Association of REALTORS® 
 
A conventional loan is best described as any loan - ANSWER-that is not a government loan. 
 
A "meeting of the minds" - ANSWE...
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Rockwell Ch.10 Quiz – Latest Update Graded A+
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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...
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