Fha insured loan - Study guides, Class notes & Summaries

FHA operates entirely from its self-generated income through the proceeds of mortgage insurance premiums paid by borrowers. Although the variety of attractive conventional loan programs available over the past several years had lowered the FHA share of the mortgage market, it has once again become the loan of choice in response to the mortgage lending crisis. The FHA loan is a viable product for first-time homebuyers, borrowers with credit issues who may have trouble qualifying for a conven...

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...

Xinnix SOAR Final Questions and Answers Already Passed FNMA and FHLMC are what type of loan? - Answer ️️ -conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer ️️ -true conventional loans are not insured by the federal government - Answer ️️ -true Agency loans include FHA and VA loans - Answer ️️ -true the proceeds of a loan for cash out refinance may be ...

Superior NC Real Estate Important Final Exam questions (Answered 100% Correctly) 2024 Superior NC Real Estate Important Final Exam questions (Answered 100% Correctly) 2024 RESPA -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) C. th...

HECM EXAM QUESTIONS AND ANSWERS LATEST 2024 (142 QUESTIONS). A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above - ANSWER- E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining fe...

Xinnix SOAR Final Exam Questions and Answers 100% Pass FNMA and FHLMC are what type of loan? - Answer- conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer- true conventional loans are not insured by the federal government - Answer- true Agency loans include FHA and VA loans - Answer- true the proceeds of a loan for cash out refinance may be used by the borrower to in...

Champions Powerhouse Training SAE 146 Questions with Verified Answers An area of neighborhoods or sub divisons that is serviced by your firm. - CORRECT ANSWER Geographic Farm A plan by which you develop to gain name recognition - CORRECT ANSWER Marketing Plan Becoming different in your approach through growth and development - CORRECT ANSWER differentiate All the properties in a particular price range, in the area your firm services - CORRECT ANSWER economic farm Words or cont...

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...

Texas Principles of Real Estate II (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct Q: Principle of Contribution? Answer: A component part of a property is valued in proportion to its contribution to the value of the whole. Holds that maximum values are achieved when the improvements on a site produce the highest (net) return, commensurate with the investment. Q: Principle of Competition? Answer: Holds that profits tend to breed competition and excess profits tend to...

HUD Exam Prep Questions and Answers 100% Pass Conventional Loan - Correct 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 - Correct Answer ️️ -Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - Correct Answer ️️ -Front end 33% Back end 45% VA - Correct Answer ️️ -41% USDA -...