Conventional with pmi - Study guides, Class notes & Summaries

Back-end ratio - 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 car payment divided by gross monthly income equals 24%. Calculation: Deb...

Xinnix SOAR Final questions and answers 100% verified. 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...

Loan Officer – NMLS Questions and Answers Graded A+ ECOA - REG B Equal Credit Opportunities Act If App for Cedit is Denied based on Appraisal, Borrower has 90 days to request a copy then Lender has 30 days to deliver HMDA - REG C Home Mortgage Disclosure Act Found in: Section 10 of 10-03 Loan App Government Monitoring Section Eliminates / Identifies Possible Discrimination RESPA - REG X Real Estate Settlement Procedures Act TIL/TILA - REG Z Truth in Lending Act (2015) Deals with:...

HUD Housing Counselor Certification Practice Exam |Question and Answer| 100% Correct What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? *Ans* 50% Which is the maximum recommended housing ratio for renting an apartment? *Ans* 30% Eligibility requirements for down-payment assistance programs include which factors? *Ans* Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is the...

Functional obsolescence - Answer- Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - Answer- best indicator of value for existing properties highest and best use - Answer- the legal use for property that gives the greatest return in money and/or amenities external obsolescence - Answer- the loss in value of a property caused by factors outside the property itself principle of contribution - Answer- suggests the...

For all practical purposes, an "Alienation Clause" is basically the same as a: a) Call Clause b) Acceleration Clause c) Due on Sale Clause d) Defeasance Clause - ANSWERSc) Due on Sale Clause When the lender determines the amount of money to loan to a borrower by using a percentage of the property's appraisal or sales price, they are trying to determine the: a) Loan-to-Value Ratio b) Interest rate for the loan c) Origination fees d) Borrower's ability to repay the loan - ANSWERSa) ...

Dr. Kerzner’s 16 Points to Project Management Maturity 1. Adopt a project management methodology and use it consistently. 2. Implement a philosophy that drives the company toward project management maturity and communicate it to everyone. 3. Commit to developing effective plans at the beginning of each project. 4. Minimize scope changes by committing to realistic objectives. 5. Recognize that cost and schedule management are inseparable. 6. Select the right person as the project manage...

NMLS SAFE EXAM 2022 What does TILA stand for? - ANSWER-Truth-In-Lending Act, Regulation Z What is a HELOC loan? - ANSWER-a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - ANSWER- LTV stands for - ANSWER-Loan to Value Define PMI and state what the acronym stands for. - ANSWER-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - ...

VA Real Estate Licensing Exam - National Portion with Complete SolutionsVA Real Estate Licensing Exam - National Portion with Complete SolutionsVA Real Estate Licensing Exam - National Portion with Complete SolutionsVA Real Estate Licensing Exam - National Portion with Complete Solutions Fannie Mae (FNMA) - ANSWER-Government sponsored private corporation that generates funds for primary lenders by buying and selling FHA, VA and Conventional Loans. Minnie Mae (GNMA) - ANSWER-Federal Agency un...

Test Bank For Project Management: The Managerial Process 6th Edition By Erik Larson & Clifford Gray | All Chapters Complete 1-18, 2024/2025. Modern Project Management 2. Organization Strategy and Project Selection 3. Organization: Structure and Culture 4. Defining the Project 5. Estimating Project Times and Costs 6. Developing a Project Plan 7. Managing Risk 8. Scheduling Resources and Costs 9. Reducing Project Duration 10. Leadership: Being an Effective Project Manager 11. Managing Pr...