Wraparound mortgage Study guides, Class notes & Summaries
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REAL ESTATE CHAPTER FINAL EXAM
- Exam (elaborations) • 16 pages • 2024
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Sally and Dan must pay 2 points on their new $65,000 loan. What will they have to pay at closing for the points? - Answer-$1,300 
 
Nancy bought her home last year for $425,000. Her property taxes would be assessed at a maximum of: - Answer-$4,250 
 
Patrick has a written independent contractor agreement with his broker Tami. Last year, about 25% of his income came from sales commissions. The other 75% came from an hourly wage paid by Tami. For income tax purposes, the IRS would probably classif...
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Real Estate Finance AYPO Exam 2024
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Real Estate Finance AYPO Exam 2024 
Real estate has been estimated to represent approximately -Answer-one-half of the 
world's total economic wealth. 
The buyer's ability to finance the property is an important, if not the -------, contingency 
in most residential transactions, and a significant driver in the entire real estate-based 
economy. -Answer-primary 
Texas is a: 
a. Lien Theory 
b. Title Theory -Answer-a. Lien Theory 
Lien Theory -Answer-In lien theory states such as Texas, the secur...
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Illinois Real Estate License Practice Questions with Correct Answers Graded A 2024
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The final decision on the listing price for a property is made by the 
a) listing broker 
b) sponsoring broker 
c) seller 
d) appraiser - c) seller 
 
A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? 
a) 13,000 sq. ft. 
b) 36,400 sq. ft. 
c) 39,000 sq. ft. 
d) 52,000 sq. ft. - c) 39,000 sq. ft. 
 
A fee simple holder of a parcel of real estate grants a life estate to his son and stipulates that upon the son's death the property will pass to ...
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CHAMPIONS REAL ESTATE FINANCE EXAM WITH GUARANTEED ACCURATE ANSWERS
- Exam (elaborations) • 31 pages • 2024
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Loan-to-Value Ratio (LTV) - ACCURATE ANSWERS 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 - ACCURATE ANSWERS Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - ACCURATE ANSWERS Covers more than one piece of property. 
 
Wraparound Mortga...
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Champions Real Estate Finance Exam Well Answered 100% 2024.
- Exam (elaborations) • 19 pages • 2024
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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 ...
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Arizona School of Real Estate & Business : Sales Exam 2023/2024 with 100% correct answers
- Exam (elaborations) • 50 pages • 2023
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When a deed in lieu of foreclosure is given to a lender, which of the following is true? - correct answer Time and cost are less 
 
B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - correct answer Forbearance 
 
A commercial building is sold in a foreclosure for $100,000 less than the balance due th...
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Texas Real Estate Finance Updated 2025 with complete solution
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The amount the borrower makes prior to any deductions for taxes or insurance is: 
A) Guaranteed income 
B) Net income 
C) Gross income 
D) Gross margin - Gross income 
_______: In the Texas Constitution, a principle residence of a family or adult single person is protected 
from forced sale for all debt except: property taxes; federal tax liens of both spouses; a home equity 
lien.....etc... - Homestead 
______ ______ ____: lenders use what is called a front-end ratio, which is reflected as a pe...
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Champions Real Estate Finance Exam 2024 || Questions & Answers (Graded A+)
- Exam (elaborations) • 15 pages • 2024
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Champions Real Estate Finance Exam 2024 || Questions & Answers (Graded A+) 
Champions Real Estate Finance Exam 2024 || Questions & Answers (Graded A+) 
 
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 persona...
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Champions Real Estate Finance Questions & Correct Answers/ Graded A+
- Exam (elaborations) • 37 pages • 2024
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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 Mortgage 
: Covers more than one piece of property. 
Wraparound Mortgage 
: Method of financing which preserves the low, exi...
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Champions Real Estate Finance exam 2023 with 100% correct answers
- Exam (elaborations) • 20 pages • 2023
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Loan-to-Value Ratio (LTV) - correct answerThe 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 answerIncludes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answerCovers more than one piece of property. 
 
Wraparound Mortgage - corr...
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