Gold coast chapter 13 - Study guides, Class notes & Summaries

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...

Gold Coast Chapter 13:questions with correct answers 100%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 fu...

Gold Coast chapter 13 The FHA does not make loans, instead It insures loans made by approved local lenders Limits the maximum FHA insured mortgage loan amounts HUD maximum loan amount FHA Insured mortgage loans must provide the borrower with the right of __________ without penalty prepayment Guarantees permanent long term mortgage loans that are originated by VA approved lenders for owner occupied residences, including condominiums and mobile homes that meet va standards ...

Gold Coast chapter 13 questions with complete solutions 2024/2025The FHA does not make loans, instead It insures loans made by approved local lenders Limits the maximum FHA insured mortgage loan amounts HUD maximum loan amount FHA Insured mortgage loans must provide the borrower with the right of __________ without penalty prepayment Guarantees permanent long term mortgage loans that are originated by VA approved lenders for owner occupied residences, including condominiums...

Gold Coast Chapter 13

Gold Coast Chapter 13 questions and answers already graded a+ 2024/2025

Gold Coast Chapter 13

Adjustable Rate Mortgage (ARM) - Correct Answer Amortized loan where interest rate fluctuates. 2 important elements: Index (foundation rate for loan that must be published and is beyond control of the lender) and margin (% added to index rate by lender to cover lender's overhead and provide profit on a loan. Margin does not change for life of the loan. Fed law requires lender to lower rate when index goes down). Amortized loan - Correct Answer Loan with scheduled payments with a portion to...

Chapter 13 -Gold Coast Real Estate test questions and verified answers

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 -...