Loan to value ratio ltv - Study guides, Class notes & Summaries

PRINCIPLES OF REAL ESTATE 2 CHAMPION EXAM WITH 100% CORRECT ANSWERS 2024 “What does D.U.S.T. stand for? - Correct Answer Demand, Utility, Scarcity, Transferability" "the percentage of value or sales price that a lender is willing to finance - Correct Answer Loan to Value Ratio (LTV)" "the value of a property is equal to the sum of the contributory value of each of its component parts. - Correct Answer principle of contribution" "the forces acting on a parcel of land are alwa...

appraisal - value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - The percentage of value or sales price that a lender is willing to finance. limited appraisal report - exterior only/drive by inspection. deemed as low risk loan highest and best use of property - legal use that gives the greatest return Principal of Contribution - cost does not equal value Residential Mortgage Loan Originators (RMLO) - Must be certified licenc...

appraisal - ANSWER-defined as an appraiser's opinion of value. Loan-to-Value Ratio (LTV) - ANSWER-is the percentage of value or sales price that a lender is willing to finance. Principle of Substitution - ANSWER-According to this principle, a commodity's value is influenced by the cost of acquiring a substitute or comparable item. Principle of Regression - ANSWER-The presence of lower-priced properties in the area will cause a decline in the value of the subject property. Principle...

Champions Real Estate Finance Final Exam With Correct Answers 2024 Loan-to-Value Ratio (LTV) -CORRECT 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 -CORRECT ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage -CORRECT ANSWER...

appraised value - ANSWER-An opinion of value Loan-to-Value Ratio - ANSWER-the maximum percentage of the value of a property that the lender is willing to loan An appraisal that is less that the sales price will generally result in what 3 ways? - ANSWER-1) Termination of the Transaction 2) Reduction in the sales price by the seller to match the appraised value 3) Payment of the difference between the sales price and the appraised value by the buyer/borrower 3 basic types of appraisal ...

Champions Principles of Real Estate 2 Exam Questions with Correct Answers appraisal - ANSWER value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - ANSWER The percentage of value or sales price that a lender is willing to finance. limited appraisal report - ANSWER exterior only/drive by inspection. deemed as low risk loan highest and best use of property - ANSWER legal use that gives the gre...

Loan-to-Value Ratio (LTV) - correct 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 - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct 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 - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

appraisal CORRECT ANSWER value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) CORRECT ANSWER The percentage of value or sales price that a lender is willing to finance. limited appraisal report CORRECT ANSWER exterior only/drive by inspection. deemed as low risk loan highest and best use of property CORRECT ANSWER legal use that gives the greatest return Principal of Contribution CORRECT ANSWER cost does not equal value ...

Mort 202 Grande MOD 1 Questions and Answers 100% Pass Question: What is the primary function of a mortgage in real estate transactions? Answer: The primary function of a mortgage is to provide a loan to a borrower for purchasing real estate, with the property itself serving as collateral for the loan. Question: How does the interest rate affect the total cost of a mortgage over its term? Answer: The interest rate directly impacts the total cost of a mortgage; a higher interest rate...

Loan-to-Value Ratio (LTV) ANS 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. 2. Package Mortgage ANS Includes both real and personal property ( fixtures and furnishings) 3. Blanket Mortgage ANS Covers more than one piece of property. 4. Wraparound Mortgage ANS Method of financing which preserv...