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Real Estate Finance I-CHAMPIONS Questions And Answers 100% Guaranteed Success.

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Real Estate Finance I-CHAMPIONS Questions And Answers 100% Guaranteed Success. The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - correct answer. B _________ is the...

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  • November 3, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate Finance I-CHAMPIONS
  • Real Estate Finance I-CHAMPIONS
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Real Estate Finance I-CHAMPIONS
Questions And Answers 100% Guaranteed
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The minimum downpayment on a VA loan is:

(a) 2% of the sales price

(b) 0% of the sales price

(c) 3.75% of the sales price

(d) 1% of the sales price - correct answer. B

_________ is the process of creating a new mortgage loan.

(a) Origination

(b) Funding

(c) Underwriting

(d) Servicing

* - correct answer. A

A veteran can have more than one VA loan:

(a) If the prior VA loan was paid in full and the property disposed of

, (b) The prior VA loan was assumed by an eligible veteran who substituted their
entitlement

(c) A or B

(d) Under no circumstances - a VA loan is a "once in a lifetime" benefit

* - correct answer. C

_________ are not-for-profit organizations that exist to serve their members.

(a) Mortgage companies

(b) Credit unions

(c) Insurance companies

(d) One that cannot be financed - correct answer. B

A qualifying ratio that compares the borrower's proposed house payment to their gross
monthly income is the __________.

(a) Back ratio

(b) Appraisal ratio

(c) Front ratio

(d) Loan to value ratio - correct answer. C

Periodic payment amounts such as principal & interest, estimated escrow, estimated
monthly payment, and __________ must be disclosed in the Projected Payments
section of the Loan Estimate form.

(a) Mortgage Insurance

(b) Homeowner's insurance

(c) Property value

(d) Estimated inspection cost - correct answer. A

___________ relates to Federal Government spending.

(a) Monetary policy

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