MA Salesperson Exam Module 11: Government Financing Programs & Regulations Mostly Tested Questions and Correct Answers (100% Pass)
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Course
MA Salesperson
Institution
MA Salesperson
conventional loans
not apart of government financing programs
government financing programs
encourage home ownership by making loans affordable. Allow
borrowers to use more leverage than a bank would normally allow
loan to value ratio
banks typically prefer 80%
Federal Housing Administra...
✓ -Offers loans, grants, and loan guarantee programs to low- and
moderate-income rural Americans who would like to purchase a home
and/or own farmland
✓ - Also offers funding to improve homes in rural areas to bring them in
compliance with the building and sanitary codes.
Private Mortgage Insurance
✓ o Part of market version of FHA or VA
✓ o Insurance for the lender provided by a private insurer rather than the
government
✓ o Buyers can make down payments of less than 20% but they must pay
monthly premium on behalf of lender until LTV dips below 78%
✓ § At 78%, PMI will automatically discharge per the Homeowners
Protection Act of 1998
✓ § Also known as MGIC financing
Monetary Policy
✓ Government policy that attempts to manage the economy by
controlling the money supply and thus interest rates.
Master01 | November, 2024/2025 | Latest update
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