Blanket mortgage - Study guides, Class notes & Summaries

Louisiana Real Estate License Already Verified A+ General Warranty Deed A deed which gives the buyer the MOST protection is: The best form of deed in common law When a seller rejects a prospective purchaser's offer to buy, and makes a new offer of his own, this is known as a(an): Counteroffer Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen Brainpower Read More Counteroffers a rejection of the offer Federal Natio...

Loan-to-Value Ratio (LTV) - Answer 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 - Answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer Covers more than one piece of property. Wraparound Mortgage - Answer Method of ...

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. - Answer-Loan-to-Value Ratio (LTV) Includes both real and personal property ( fixtures and furnishings) - Answer-Package Mortgage Covers more than one piece of property. - Answer-Blanket Mortgage Method of financing which preserves the low, existing ...

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 The physical characteristics of land incl...

Champions School of Real Estate - Real Estate Finance Latest Update Rated A+ A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) Non- Conforming Loan VA Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required lump sum payments. Release Clause ...

________ are non-conforming loans because they exceed the FNMA loan limit of $____________ - Jumbo loans, $417,000 ________ backs all government loans (FHA, VA, USDA) - Government National Mortgage Association (Ginnie Mae/GNMA) ________ loans are loans that 'conform' to FNMA, FHLMC standards - Conforming A borrower must make a 10% down payment on a purchase transaction to qualify for the loan. The borrower made a $1,000 good faith deposit at the time of acceptance of the offer to purchas...

Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that shows the property is encumbered by several liens. The lien with the highest priority is the lien: a. of lowest amount b. of highest amount c. first recorded d. first in date - Answer-c. first recorded The physical characteristics of land include: a. indestructibility b. homogeneity c. improvements d. supply - Answer-a. indestructibility Which of the following restrictive covenants is MOST likel...

Gold Coast Real Estate Sales Associate Chapter 13Correct answer: b Savings associations dominated the residential mortgage market until deregulation of the banking industry in the 1980s. In the past, these institutions made most of their mortgage loans with depositors' funds. The loans were held full term, with the savings association receiving the principal and interest payments from the borrower. Reference: Chapter 13, The Primary Mortgage Market, Mortgage Lenders, Savings Associations -...

Loan-to-Value Ratio (LTV) - correct answer-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 - correct answer-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer-Covers more than one piece of property. Wraparound Mortgage - c...

The real estate exam consists of 110 questions, 80 on the national portion of the test and 30 on the Texas portion of the test. A. True B. False - ANSWER A. True The difference between the market value of a property and the sum of the liens against it is called: A. the equity B. due on sale C. the assessment D. the loan-to-value ratio - ANSWER A. the equity Which of the following are public restrictions on the use of real property? A. zoning laws B. condominium byla...