Fha funding fee - Study guides, Class notes & Summaries

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...

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...

NMLS EXAM | LATEST UPDATE| ULTIMATE SOLUTION What law deals with credit, APR & advertising of consumer loans? - ANSWER TILA/REGULATION Z Which regulation prohibits kickbacks? - ANSWER RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - ANSWER HPA - Homeowners Protection Act Which regulation prohibits fee splitting? - ANSWER RESPA Regulation X is the letter used to describe which Law? - ANSWER RESPA RESPA is the acronym used to des...

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...

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...

NMLS Practice Test Hard Questions and Answers | Latest Version | 2024/2025 | Already Passed A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be credited at closing on property with sale price of $160,000. If the required down payment is 20%, how much additional money will the buyer need to provide toward the down payment at closing? A.) $32,000 B.) $27,000 C.) $30,000 D.) $25,000 D.) $25,000 $160,000 x .20 (20%) = 3200...

How is the binder deposit shown on the Closing Disclosure Form? - >>credit to the buyer what is the status of a sales associates license if he does not complete the required post licensing education prior to his first renewal section? - >>null and void Mortagee - >>lender when you sell or transfers - >>due on sale 2 mortgage clauses - >>due on sale clause, acceleration clause acceleration clause - >>the buyer defaulted government insured loan - >&gt...

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 su...

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 funding fee and people in what situations is it...

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...