Va loans - Study guides, Class notes & Summaries

Real Estate Finance I-CHAMPIONS Exam | 60 Questions and Answers. The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - Answer- B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - Answer- A A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of ...

100 Percent Correct Answer-The maximum loan-to-value ratio on a VA gauranteed loan is: 1.75% Correct Answer-What is the up-front premium changed on FHA loans? $63,000 Correct Answer-Given the following information, how much PMI i required? PMI is to cover the top 35% of the loan. Purchase Price: $200,000 Loan Amount: $180,000 Down Payment: 10% Annual Percentage Rate (APR) Correct Answer-Jan is hopping for a home loan in order to purchase her retirement home. She has several loans ...

Intent to File - Answer - Protects filing date for 1 year. Intent to File contains? - Answer - Identification of Vet & Claimant, election of benefit asking for, signature of claimant or vet How to notify of intent to file - Answer - Electronically (ebenefits or Stakeholder Enterprise Portal, mail VA Form 21-0966, Phone: National call center or public contact representative. How many Intents to File will the VA recognize - Answer - Only 1 at any given time DD 214 - Answer - Offic...

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...

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...

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...

Real Estate Finance I-CHAMPIONS Exam | 60 Questions and Answers. The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - Answer- B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - Answer- A A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of ...

conventional loans not apart of government financing programs government financing programs encourage home ownership by making loans affordable. Allow borrowers to use more leverage than a bank would normally allow loan to value ratio banks typically prefer 80% Federal Housing Administration Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ -insures lenders to make loans with more than 80% LTV (usually up to 96.5%) -puts in limitati...

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...

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...