Exam (elaborations)
NMLS Test Prep QUESTIONS WITH COMPLETE SOLUTIONS
- Course
- NMLS
- Institution
- Liberty University
A borrower receives $1,000 per month in rental income. How much of the income may be used to qualify the borrower for a loan? A. $1,000 B $800 C $750 D $1,250 Correct Answer: $750 The answer is $750. Generally, 75% of rental income may be used to qualify a borrower for a loan. This formul...
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