Package mortgage Study guides, Revision notes & Summaries
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Champions School of Real Estate - Real Estate Finance Latest Update Rated A+
- Exam (elaborations) • 16 pages • 2024
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Champions School of Real Estate - Real 
Estate Finance Latest Update Rated A+ 
 
A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) Non- 
Conforming Loan 
 
VA Veteran's administration - assists veterans in the purchase of housing by guaranteeing 
loans) 
 
Seller's equity 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 lump sum payments. Release Clause 
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Washington State Real Estate Broker Exam with complete solutions
- Exam (elaborations) • 33 pages • 2023
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Washington State Real Estate Broker Exam 
with complete solutions 
Deed in lieu of foreclosure - Ans ️️ -Yin Lee is an owner of several properties as well as a 
relatively high profile individual. In order for Yin Lee to attempt to avoid a possible foreclosure 
from becoming a matter of public record by being recorded, Yin Lee would want to give the 
lender a: 
A real estate license - Ans ️️ -If a contractor intends to sell 10 properties in a calendar year, 
he/she will need 
Desire and ...
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Champions Real Estate Finance exam 2023 with 100% correct answers
- Exam (elaborations) • 20 pages • 2023
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Loan-to-Value Ratio (LTV) - correct answerThe percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - correct answerIncludes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answerCovers more than one piece of property. 
 
Wraparound Mortgage - corr...
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Washington state Real Estate exam set 1 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
- Exam (elaborations) • 18 pages • 2024
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when does the real estate agent give the seller's a copy of their listing agreement form? 
: immediately 
what are the elements needed for a valid purchase and sales agreement? 
: consideration (not of monetary value), in writing & lawful purpose. There does 
not need to be earnest money but often is 
a mortgage that secures both real and personal property as collateral to secure a 
borrower's debt 
: package mortgage 
name of the state/local sales tax debt to the seller in the transfer of p...
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Florida Real Estate Practice Exam 2
- Exam (elaborations) • 15 pages • 2023
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Which remedies are available when a 
seller breaches a contract? 
a. A suit for specific performance 
b. Buyer gets deposit returned 
c. A or b but not both 
d. Notifying FREC - Answer- c. A or b but not both 
 
What term refers to the right of a 
mortgagor to stop a foreclosure process 
by paying the entire balance, interest and 
so on? 
a. Equity of estoppel 
b. Right of redemption 
c. Right of defeasance 
d. Equity of disposition - Answer- b. Right of redemption 
 
Which type of mortgage is k...
Too much month left at the end of the money?
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Notary Signing Agent (2023/2024) Already Graded A
- Exam (elaborations) • 16 pages • 2023
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Notary Signing Agent (2023/2024) Already Graded A HELOC Home Equity Line of Credit 
Construction Loan A short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses or is converted to a mortgage. 
Reverse Mortgage A loan based on the equity in a home that provides homeowners with tax-free income and is paid back with interest when the home is sold or the homeowner dies. No payment as long as the borrower li...
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NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified
- Exam (elaborations) • 19 pages • 2023
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NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified. TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclosure must be delivered within how many business days prior to 
closing a reverse mortgage - ANSWER 7 days 
The APR must be finalized at least how many days before closing? - ANSWER 3 days 
A company with which a consumer has an establ...
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Property & Casualty Insurance License Test Updated 2022 > Pass the P&C Insurance Licensing Exam With Flying Colors.
- Summary • 24 pages • 2022
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Property and casualty insurance Exam Questions and Answers Updated Nov 2022. 
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of 
 
A builder's risk form is most often written as which of the following? 
 
A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or perso...
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Champions Real Estate Finance
- Other • 15 pages • 2023
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Loan-to-Value Ratio (LTV) - Answer- The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - Answer- Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - Answer- Covers more than one piece of property. 
 
Wraparound Mortgage - Answer- Method of fina...
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National Real Estate Exam Prep Chapter 7 (Champions School of Real estate) Rated A+
- Exam (elaborations) • 8 pages • 2024
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National Real Estate Exam Prep Chapter 
7 (Champions School of Real estate) 
 
Rated A+ 
 
Conventional loan a loan that is neither federally insured nor guaranteed 
 
Non-conventional loan mortgage loans through three agencies: 
The federal housing Admin. 
The US dept of Veteran Affairs 
US Dep. of Agriculture 
 
contract for deed (installment contract) seller financing and buyer does not get deed until the 
property has been paid for in full 
 
Mortgage Pledge of real property as a security fo...
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