Loan to value ratio ltv - Study guides, Class notes & Summaries

SOMB II Practice Test | questions and answers with complete solution When refinances as a percentage of total originations rise, does profitability at large banks tend to rise or to fall? - Fall What are the top three Mortgage lender's main sources of income? - - Fees negotiated at origination - Gain on sale - Interest Income Interest income earned at the note rate from the date a loan closes until it is sold belongs to? - The lender Which type of loan sale generates the most revenue...

Mort 202 Grande MOD 1 Questions and Answers 100% Pass Question: What is the primary function of a mortgage in real estate transactions? Answer: The primary function of a mortgage is to provide a loan to a borrower for purchasing real estate, with the property itself serving as collateral for the loan. Question: How does the interest rate affect the total cost of a mortgage over its term? Answer: The interest rate directly impacts the total cost of a mortgage; a higher interest rate...

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. 2. Package Mortgage ANS Includes both real and personal property ( fixtures and furnishings) 3. Blanket Mortgage ANS Covers more than one piece of property. 4. Wraparound Mortgage ANS Method of financing which preserv...

Champions Principles of Real Estate 2 | 91 Actual Questions and Answers 100% correct | Latest Update 2023-2024

Champions Real Estate Finance Exam Questions and Answers With Complete Solutions Champions Real Estate Finance Exam Questions and Answers With Complete Solutions Champions Real Estate Finance Exam Questions and Answers With Complete Solutions 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 app...

Using the information provided, answer the following question: Sales price = $225,000 Seller Contribution = $6,000 Closing Costs = $5,580 Prepaids = $2,250 What is the cash-to-close? - $9,705 A refinance transaction resulting from a divorce settlement where either the borrower or the coborrower is required to "buy-out" the other party's interest in the mortgage property, is considered a rate and term refinance as long as the borrower who acquires sole ownership receives no cash out of ...

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...

Functional obsolescence - Answer- Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - Answer- best indicator of value for existing properties highest and best use - Answer- the legal use for property that gives the greatest return in money and/or amenities external obsolescence - Answer- the loss in value of a property caused by factors outside the property itself principle of contribution - Answer- suggests the...

Gold Coast Chapter 13: Although there are a number of different methods for repaying a loan, there are only 3 types of mortgages: - correct answer FHA insured; VA guaranteed; And conventional. FHA insured mortgage loans: - correct answer The Federal Housing Administration (FHA) is a part of the U.S Department of Housing and Urban Development (HUD). ***The FHA DOES NOT make loans. Instead, it insures loans made by approved local lenders. The loan is funded by a lending institution, su...

Champions real estate finance with Correct Solutions Latest 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...