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Real Estate Finance Ch 13 quiz Flashcards _ (DETAILED ANSWERS) 2024 - DISTINCTION GUARANTEED.pdf
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Real Estate Finance Ch 13 quiz Flashcards _ (DETAILED ANSWERS) 2024 - DISTINCTION GUARANTEED.pdf
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8/1/24, 7:13 AM Real Estate Finance Ch 13 quiz Jeremiah Terms in this set (10) Secondary earnings take the form of: interest on savings/disability payments/bonuses and commissions. According to FNMA/FHLMC guidelines, the maximum total debt service ratio for loans that do not exceed 90% loan-to-value ratios is what percent of stable monthly income? 36% The individual who conducts the loan application evaluation process is called: underwriter Income that can be expected to continue for a substantial period is called: durable income As a general rule, a borrower should have continuous employment for at least: 2 years A loan that meets the requirements of FHMLC is called a(n): investment quality loan The difference between the market value of a property and the sum of selling expenses, mortgages and other liens against the property is referred to as: equity Gift letters: usually must be from an immediate family member Stable monthly income: is borrower's gross employment income plus other income that is reliable and likely to endure. In calculating the total debt service ratio, the following is not included: installment debts with fewer than 10 remaining payments https://quizlet.com/185876546/real -estate -finance -ch-13-quiz-flash -cards/ 1/1The benefits of buying summaries with Stuvia:
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