Conventional mortgages - Study guides, Class notes & Summaries
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Virginia Final Exam Questions with Correct Answers 2024
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to market conditions and their internal needs and objectives. It should be noted that the terms 
of mortgages bought and sold cannot be changed by the new note holders. 
Which of the following is considered a conventional loan? 
A. FHA insured 
B. VA guaranteed 
C. Commercial bank's 15 year loan 
D. Contract for deed - answerC. Commercial bank's 15 year loan. Though 30 year loans are 
more common, 15 year loans are considered standard, conventional loans. Options A and B are 
part of various g...
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Xinnix Quiz Questions with 100% Correct Answers
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Xinnix Quiz Questions with 100% Correct Answers 
Ginnie Mae was wholly created to purchase government mortgages on the secondary 
market - Answer- false 
which of the following was not a reason The Federal Housing Administration (FHA) was 
created - Answer- to simplify mortgage forms 
match in order of creation - Answer- 1st-FNMA 
2nd-GNMA 
3rd-FHLMC 
match the following - Answer- FNMA-fannie mae 
FHLMC-Freddie Mac 
what allowed more conventional mortgages to be originated in the early 1970s wit...
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HUD Housing Counseling Exam Question and answers rated A+ 2024
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HUD Housing Counseling Exam Question and answers rated A+ 2024 
Back-end ratio - correct answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and...
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Prepxl Practice Test 8 Questions and Answers 2024 Correctly done
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ACME Home Loans is a private lender with a strict policy of limiting originations to conventional qualified 
mortgages with minimum loan amounts of $300,000. To ensure compliance with this policy, loan 
originators are instructed to refuse to accept applications from consumers who want loan amounts of 
less than $300,000, or who have debt-to-income ratios of 44% or more. This policy is: 
- Not a violation of any federal fair lending law 
- Potentially unlawful under the disparate impact theory 
...
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Texas Principles of Real Estate 2 (2023/ 2024) Exam | Guide with Verified Answers| 100%
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Texas Principles of Real Estate 2 (2023/ 2024) 
Exam | Guide with Verified Answers| 100% 
 
QUESTION 
 Loan Origination Fee? 
 
 
Answer: 
The financing charge that a lender requires. 
 
 
 
QUESTION 
 VA Loan? 
 
 
Correct 
Answer: 
A loan made to qualified veterans for the purchase of real property wherein the Department of 
Veteran's Affairs guarantees the lender payment of the mortgage. Guarenteed Loan. 
 
 
 
QUESTION 
 FHA Loans? 
 
 
Answer: 
Insured. 203b, 203h, Rehab loa...
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NYREI Exam Prep Exam Latest Version 2024/2025 Expert-Verified Q&As
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A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - 
Substitution 
A borrower pays off his loan. However, the lender refuses to cancel the mortgage. Which of the 
following clauses of a mortgage has the lender violated? - Defeasance clause 
(A defeasance clause states that when the loan is paid, the mortgage is void. The bank's failure to cancel 
the mortgage of record is a violation of this clause. The habendum clause is the "to have and to hold" ...
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Xinnix Quiz Questions with 100% Correct Answers
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Xinnix Quiz Questions with 100% Correct Answers 
Ginnie Mae was wholly created to purchase government mortgages on the secondary 
market - Answer- false 
which of the following was not a reason The Federal Housing Administration (FHA) was 
created - Answer- to simplify mortgage forms 
match in order of creation - Answer- 1st-FNMA 
2nd-GNMA 
3rd-FHLMC 
match the following - Answer- FNMA-fannie mae 
FHLMC-Freddie Mac 
what allowed more conventional mortgages to be originated in the early 1970s wit...
-
Gold Coast Chapter 13:questions with correct answers 100%
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Gold Coast Chapter 13:questions with correct answers 100%Although there are a number of different methods for repaying a loan, there are only 3 types of mortgages: - correct answer FHA insured; 
 
VA guaranteed; 
 
And conventional. 
 
FHA insured mortgage loans: - correct answer The Federal Housing Administration (FHA) is a part of the U.S Department of Housing and Urban Development (HUD). ***The FHA DOES NOT make loans. Instead, it insures loans made by approved local lenders. The loan is fu...
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Gold Coast Chapter 13:questions n answers graded A+ 2024/2025
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Gold Coast Chapter 13: 
Although there are a number of different methods for repaying a loan, there are only 3 types of mortgages: - correct answer FHA insured; 
 
VA guaranteed; 
 
And conventional. 
 
FHA insured mortgage loans: - correct answer The Federal Housing Administration (FHA) is a part of the U.S Department of Housing and Urban Development (HUD). ***The FHA DOES NOT make loans. Instead, it insures loans made by approved local lenders. The loan is funded by a lending institution, su...
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Xinnix SOAR Final questions and answers latest top score.
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Xinnix SOAR Final questions and answers latest top score. 
 
 
 
 
 
 
 
FNMA and FHLMC are what type of loan? - correct rming 
 
the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct 
 
conventional loans are not insured by the federal government - correct 
 
Agency loans include FHA and VA loans - correct 
 
the proceeds of a loan for cash out refinance may be used by the borrower ...
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