Conventional with pmi - Study guides, Class notes & Summaries
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ASREB Exam Practice Questions and Answers
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ASREB Exam Practice Questions and Answers 
types of loans - Correct Answer ️️ -FHA loan, Conventional loan, VA loan 
FHA loan - Correct Answer ️️ -MIP (Mortgage Insurance Premium) 
Two types (Upfront and Monthly) 
Conventional loan - Correct Answer ️️ -PMI (Private Mortgage Insurance) 
Drops off automatically at 78% loan to value (LTV) 
Ask for removal at 80% loan to value 
VA Loan - Correct Answer ️️ -Funding Fee based on value 
USDA loan - Correct Answer ️️ -loan is zero do...
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HUD Housing Counselor Certification Practice Questions with 100% Correct Answers
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HUD Housing Counselor Certification Practice 
Questions with 100% Correct Answers 
Which is the maximum recommended housing ratio for renting an apartment? - Correct 
Answer ️️ -30% 
Eligibility requirements for down-payment assistance programs include which factors? - 
Correct Answer ️️ -Income, home-buyer education, purchase price 
The client is considering an FHA mortgage. What is the upfront mortgage insurance 
premium (UFMIP) for an 
FHA mortgage? - Correct Answer ️️ -1.75% 
If ...
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NMLS SAFE EXAM 2024 WITH VERIFIED ANSWERS.
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NMLS SAFE EXAM 2024 WITH VERIFIED ANSWERS. 
What does TILA stand for? - correct answer Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - correct answer a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - correct answer 
 
LTV stands for - correct answer Loan to Value 
 
Define PMI and state what the acronym stands for. - correct answer Private mortgage insurance- on conventional loans 
 
Define one time variable fun...
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HUD Housing Counselor Certification Practice Questions with Correct Answers
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What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? Correct Answer 50% 
 
Which is the maximum recommended housing ratio for renting an apartment? Correct Answer 30% 
 
Eligibility requirements for down-payment assistance programs include which factors? Correct Answer Income, home-buyer education, purchase price 
 
The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an 
FHA mortgage...
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Bob Hogue Real Estate Questions And Answers With Verified Study Solutions
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Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment facilities be 
in place before new development is allowed is the - Answer-Concurrency Provision 
The only active general partner in a real estate brokerage partnership has his license suspended. All of 
the licenses of the sales associates in that brokerage are - Answer-placed in inactive status 
Legal Title always passes from the seller to the buyer - Answer-When the deed is voluntarily delivered 
and vo...
Too much month left at the end of the money?
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Xinnix SOAR Final Study Guide | 566 Questions with 100% Correct Answers | Updated and Verified | 77 Pages
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FNMA and FHLMC are what type of loan? - conforming 
the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers 
understand the terms of their agreements with financial companies - true 
conventional loans are not insured by the federal government - true 
Agency loans include FHA and VA loans - true 
the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool - 
true 
a non-agency loan does not have to conform to FNMA guidelines - t...
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NMLS SAFE EXAM STUDY GUIDE
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NMLS SAFE EXAM STUDY GUIDE 
 
What does TILA stand for? - Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - a secured loan in that you are borrowing against the equity that has 
been built in your house 
 
What is a REFI loan? - 
 
LTV stands for - Loan to Value 
 
Define PMI and state what the acronym stands for. - Private mortgage insurance- on 
conventional loans 
 
Define one time variable funding fee and people in what situations is it waived for? - 
Disabled veterans and survi...
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NMLS SAFE EXAM 2023-2024 WITH COMPLETE SOLUTIONS
- Exam (elaborations) • 15 pages • 2023
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NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
What does TILA stand for? - ANSWER-Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - ANSWER-a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - ANSWER- 
 
LTV stands for - ANSWER-Loan to Value 
 
Define PMI and state what the acronym stands for. - ANSWER-Private mortgage insurance- on conve...
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Mortgage Exam 4 2024 with 100% complete solutions
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At what equity position does PMI automatically terminate on a conventional loan? correct answers22% 
 
A mortgage loan originators who uses his or her position with a mortgage broker to order a borrower's credit report is required to have which of the following before doing so? 
(A) The authorization by the borrower to order the credit report 
(B) To have completed a course covering both the mechanics and FCRA law governing the practice 
(C) The approval of the end lender who has the contract w...
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NMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST
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NMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST 
 
Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans 
 
Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans and surviving spouses. 
 
USDA loans are also called what? - Answer-502 loans 
 
Define MIP - Answer-Can be paid up front or in installments. Mortgage insurance premium used by FHA to protect themselves against higher-risk borro...
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