Ltv formula - 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? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

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...

Champions School Principles of Real Estate II Latest Update Graded A+ Appraisal An Appraiser's opinion of value Principle of conformity Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood USPAP Uniform Standards of Professional Appraisal Practice Uniform Standards of Professional Appraisal Practice Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation Ad Valorem According to...

NMLS Texas Exam | Questions and Correct Solutions Latest Update | 2024/2025 | Graded A+ Front End Ratio Formula (Mortgage to income/Housing expense ratio) - Answer - Monthly PITI/ gross monthly income Federal Housing Finance Authority - Answer - Ensures GSEs have adequate practices and capital to engage in mortgage business. LTV Formula - Answer - Loan amount/value of property LTV % required to avoid PMI - Answer - Less than 80% A VA loan called IRRRL stands for - Answer - Interest rate...

Mixed Numbers - ANSWERSA number containing both a whole number and a fraction (examples: 1⅓; 9⅞) Improper Fractions - ANSWERSa fraction with its numerator equal to or greater than its denominator Commission Calculation - ANSWERSSales price X rate of commission = total commission Solving for the Commission Rate - ANSWERSCommission Rate = Commission ÷ Price Solving for the Property's Price - ANSWERSPrice = Commission ÷ Commission Rate Profit - ANSWERSProfit (or Loss) = Sellin...

NMLS SAFE EXAM QUESTIONS AND ANSWERS GRADED A+ Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan Brainpower Read More Pre...

Front End Ratio Formula (Mortgage to income/Housing expense ratio) correct answersMonthly PITI/ gross monthly income Federal Housing Finance Authority correct answersEnsures GSEs have adequate practices and capital to engage in mortgage business. LTV Formula correct answersLoan amount/value of property LTV % required to avoid PMI correct answersLess than 80% A VA loan called IRRRL stands for correct answersInterest rate reduction refinance loan Underwriters Review of capital deals...

CMB Exam – Study Questions With 100% Verified Answers According to federal law, which of the following transactions are subject to the three-day right of rescission? - answerPrimary residence for rate/term and/or cash-out refinance. What federal law governs right of rescission? - answerTruth in Lending Act What are 3 borrower qualifications unique to the VA loan product? - answer1. Certificate of Eligibility 2. Active or previous duty service w/ entitlement available 3. VA loans do not...

Find your hometown's nearest Angel Network. What is their name and an idea of their investment preferences? - correct answer - North Texas Angel Network focuses on accessing a wide range of industry expertise across their network in assessing investment opportunities What are three of the sources of entrepreneurial financing discussed by Gregson? - correct answer 1. 3F: family, friends, fools 2. IPO 3. PE How does...

Champions School Of Real Estate Finance Exam 2024 Tested And Verified A home equity loan available to homeowners over 62 years of age - the lender makes payments to the borrower based on the equity in the property - the loan comes due upon the sale of the property or the death of the owner. - Reverse Annuity Mortgage A loan with an interest rate tied to a readily available index - the rate will be adjusted periodically causing payment changes. - Adjustable Rate Mortgage (ARM) The refu...