Xinnix ground school exam - Study guides, Class notes & Summaries

XINNIX GROUND SCHOOL EXAM ( ACTUAL EXAM) LATEST 2023 – 2024 WITH CORRECT 100+ QUESTIONS WITH WELL ANSWERED ANSWERS ALREADY GRADED A+

Xinnix Ground School Exam Questions and Solutions

Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. Correct Answer False YTD paystubs will be requires from a borrower that is self-employed (schedule C) Correct Answer False A borrower requesting a jumbo loan will qualify for an agency loan Correct Answer False Trailing spouse income can be used for qualifying purposes. Correct Answer False The followin...

Xinnix Ground School Exam Questions and Answers 100% Pass Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. - Answer- False YTD paystubs will be requires from a borrower that is self-employed (schedule C) - Answer- False A borrower requesting a jumbo loan will qualify for an agency loan - Answer- False Trailing spouse income can be used for qualifying purp...

Xinnix Ground School Exam Questions And Answers @ 2024...

Desktop Underwriting (DU) would result in a decision of Approve/Ineligible on a loan with excellent credit which qualifies as a jumbo loan program. - True All of the following documents must be provided by the builder to the mortgage company on an FHA new construction loan prior to the loan being cleared to close EXCEPT: - Appraisal Certificate A borrower's brother would like to give her money to help towards the down payment of her new house. This would be considered.... - A gift from a r...

XINNIX GROUND SCHOOL FINAL EXAM LATEST ALL 100 REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) LATEST UPDATES | ALREADY GRADED A+ (NEW!!)

On an FHA loan the upfront MIP should be included when calculating cash-to-close. False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False A 3-Year ARM adjusts every 3 years True A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False A HELOC loan has an interest only payment True A borrower paid semi-monthly and a borrower paid bi-weekly have t...

XINNIX GROUND SCHOOL EXAM QUESTIONS AND ANSWERS XINNIX GROUND SCHOOL EXAM QUESTIONS AND ANSWERS

Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. - Answer- False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) - Answer- False A 3-Year ARM adjusts every 3 years - Answer- True A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. - Answer- Fals...