PACKAGE DEAL OF XINNIX QUESTION AND ANSWERS COMPILATION 2023

Xinnix Ground School Mortgage Final Exam Question and answers rated A+ 2023 On an FHA loan the upfront MIP should be included when calculating cash-to-close. - correct answer False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) - correct a...

Xinnix SOAR Final Question and answers already passed 2023 FNMA and FHLMC are what type of loan? - correct answer conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct ...

Xinnix Ground School Question and answers 100% correct 2023 first-time homebuyer - correct answer Someone who has never owned a home Move-up homebuyer - correct answer Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. Relocation Ho...

Xinnix Flight School Study Cards Question and answers already passed 2023 T or F - You are required to disclose why a loan was declined, if applicable, to the lender you are transferring a loan package to for all FHA and VA Loans - correct answer True What following repairs are allowed unde...

Xinnix Question and answers 100% correct 2023 Loans with an LTV >80% will typically require mortgage insurance. (FNMA/FHLMC) - correct answer True What is the maximum seller contribution allowed for a primary residence at 95% LTV? (FNMA/FHLMC) - correct answer 3% On an ARM, redisc...

Xinnix Mock Exam Missed Questions and answers already passed 2023 Chris earns $36,000 per year from his primary job. He also has a 2nd job in the same line of work earning $11.25 per hour. He is only able to work 12 hours a week on the 2nd job but has been doing so for 8 months. What is his month...

XINNIX FLIGHT SCHOOL Question and answers 2023 verified to pass The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. - correct answer True How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA -...

Xinnix Quiz Questions and answers correctly solved 2023 Ginnie Mae was wholly created to purchase government mortgages on the secondary market - correct answer false which of the following was not a reason The Federal Housing Administration (FHA) was created - correct answer to simplify ...

Mock Exam Review Questions with complete solution 2023 (T or F): If a borrower tells you about a liability that is not listed on the credit report, it doesn't need to be included on the loan application. - correct answer False What is the maximum seller contribution allowed for a primary r...

Ground School Final Question and answers 100% correct 2023 A HELOC second mortgage may or may not be fully disbursed at closing. Typically, it has a variable interest rate with an interest only payment. There is a designated draw period and repayment period. - correct answer True On an FHA...