Blanket mortgage - Study guides, Class notes & Summaries

Champions Real Estate Finance Questions & Revised Correct Answers <Updated < Already Passed> Loan-to-Value Ratio (LTV)- : The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage- : Includes both real and personal property ( fixtures and furnishings) Blanket Mortg...

Champions Real Estate Finance Latest Version Graded A+ Loan-to-Value Ratio (LTV) The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage Covers more than one piece of property. Wraparound ...

The amount the borrower makes prior to any deductions for taxes or insurance is: A) Guaranteed income B) Net income C) Gross income D) Gross margin - Gross income _______: In the Texas Constitution, a principle residence of a family or adult single person is protected from forced sale for all debt except: property taxes; federal tax liens of both spouses; a home equity lien.....etc... - Homestead ______ ______ ____: lenders use what is called a front-end ratio, which is reflected as a pe...

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - d. trade fixtures

Champions real estate finance Exam Questions with Verified Answers Loan-to-Value Ratio (LTV) ANS-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage ANS-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage ANS-Covers more than one piece of propert...

Loan-to-Value Ratio (LTV) - ACCURATE ANSWERS The percentage of the lesser of the appraised value or sales price that the lender will lend. Ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - ACCURATE ANSWERS Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - ACCURATE ANSWERS Covers more than one piece of property. Wraparound Mortga...

Ohio Real Estate Exam test bank Questions with answers 2023May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive CORRECT A...

The final decision on the listing price for a property is made by the a) listing broker b) sponsoring broker c) seller d) appraiser - c) seller A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? a) 13,000 sq. ft. b) 36,400 sq. ft. c) 39,000 sq. ft. d) 52,000 sq. ft. - c) 39,000 sq. ft. A fee simple holder of a parcel of real estate grants a life estate to his son and stipulates that upon the son's death the property will pass to ...

The ability of the government to acquire real property against the owner for the benefit of the public. o :## Eminent Domain When real property is conveyed to a party through a will. the real property is referred by what term? o :## Devise What is the most complete estate in real property? o :## Fee Simple What is an exaggerated term from a real estate agent,that would be considered not true? o :## Puffing What is the process of arriving at a final market value conclusion from the es...

__________ occurs if the lender chooses the hazard insurance company when the borrower allows the policy to lapse. - Forced-placed insurance "APR" means? - Annual percentage rate. This is the cost of credit expressed as a percentage. A borrower is refinancing his home. How much time does Reg Z give him to change his mind? - 3 days A co-borrower whose income is used to qualify must sign the: - Mortgage and the note A deed is: - A legal instrument that conveys title to real property. A fu...