Who can obtain a va loan - Study guides, Class notes & Summaries

Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment facilities be in place before new development is allowed is the - Answer-Concurrency Provision The only active general partner in a real estate brokerage partnership has his license suspended. All of the licenses of the sales associates in that brokerage are - Answer-placed in inactive status Legal Title always passes from the seller to the buyer - Answer-When the deed is voluntarily delivered and vo...

Champions - Real Estate Finance Questions And Answers 2024 100% Scores Loan Processing - CORRECT ANSWER-The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - CORRECT ANSWER-The process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disbursement. Servic...

NMLS Test Questions and Answers Graded A+ What is the pass rate for the NMLS Test and how long is it? 75% of 115 questions, 125 questions long with 10 ungraded What is the biggest thing to remember about taking the test? Read the questions twice, slowly, but do not take over 30 seconds per question the first time through. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:13 / 0:15 Full screen What is the requirement under Fa...

California Real Estate License Exam 1 Verified Answers 1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property is properl...

National Real Estate Exam 2024 Questions and Answers Already Passed When payments are made on amortized mortgage loans, the debt service includes Payment of principal, interest, taxes, and insurance on the mortgaged property A couple bought their first home, quantifying for a 30-year loan. The lender required regular, equal payments of sufficient size and number to pay all interest due on the loan and reduce the amount owed to zero by the loan's maturity date.This is most likely A ful...

Champions School Of Real Estate ( Real Estate Finance) 2024 Tested A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - CORRECT ANSWER-Non-Conforming Loan VA - CORRECT ANSWER-Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - CORRECT ANSWER-Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required ...

Real Estate Final Exam Questions With Solutions Latest Updated Graded A+. A buyer bought a property without telling the seller of his intended purpose for the property. The contract contains no contingency clauses and it is a properly executed contract. After the closing, the buyer is unable to obtain the zoning he needs for his commercial project. What is the contract at this stage? Enforceable 6. The seller and the buyer finally agreed to a purchase price of $203,500 with the closing to ...

Colorado State Real Estate Exam Questions and Answers Graded A+ The Amend/Extend Contract With Broker is used to change : Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: non-applicable financing conditions In preparing a Contract to Buy/Sell, a broker can not put exculpatory language into: Additional Provisions of a commission approved contract "MEC" in a contract mea...

Loan Signing Questions and Answers Rated A contingency a clause in an agreement that keeps things from being legally binding unless a condition is met. A typical contingency clause might read like this: "This contract is contingent upon Buyer successfully obtaining a mortgage loan at an interest rate of 6 percent or less." recording fee The fee charged by a government agency for registering or recording a real estate purchase or sale, so that it becomes a matter of public record. Recording fe...

Who owns the property when the borrower has a reverse mortgage? - ACCURATE ANSWERS Borrower A period of significantly reduced economic activity that lasts longer than six months is known as - ACCURATE ANSWERS Recession Stabilized high unemployment, home foreclosures and low govt interest rates are a sign of which phase of real estate cycle - ACCURATE ANSWERS Recovery When Fannie Mae packages Kona's to be sold to investors they are creating - ACCURATE ANSWERS Mortgages backed securities...