Hud exam prep 2023 Study guides, Class notes & Summaries

NJ Real estate Exam Prep Latest 2023 Graded A+ An Appraisal made by a Certified appraiser is REQUIRED? WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? THE REQUIRED DOWN PAYMENT MAY BE LOWER THAN CONVENTIONAL LOANS What should buyer put in purchase offer to make sure they would NOT have to purchase, if they CANNOT obtain financing? Contingency Conditions does NOT create stigmatized property that may or may not be disclosed un...

HUD EXAM PREP - FAIR HOUSING 2023...

National Real Estate Exam Prep 2023/2024 Unilateral Contract - correct answerContract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract - correct answerContract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - correct answerA person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer - correct answerAny 3rd party w/ whom a licens...

HUD Exam Prep fully solved latest 2023% Impact of Account Payment History on Credit Score 35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score 30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score 15% portion of score based don the overall length of credit...

% Impact of Account Payment History on Credit Score - Answer- 35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - Answer- 30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - Answer- 15% portion of score based don the overall length of credit history in the re...

SAFE MLO Exam Prep Questions and Answers 2023/2024 updated version Lender has to retain CD and LE for how long? - ANSWER-5 years Lender has to retain Partial Payment Policy for how long? - ANSWER-5 years Lender has to retain Escrow Cancellation Notice for how long? - ANSWER-5 years TILA Disclosure, Loan Estimate, Good Faith Estimate, HUD-1; which is NOT delivered to a reverse mortgage applicant? - ANSWER-Loan Estimate How many hours of CE required? - ANSWER-8 hours Maximum # of consecutiv...

PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A Document Content and Description Below PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A A buyer has the right to buy a property at an agreed-upon price within the next six months. This is a(n) - an option A lea sehold estate that does NOT require notice to terminate is called a(n) - an estate for years The broker and the seller both know that the foundation of the seller's house is unsafe. If they do not inform the...