Real Estate Lenders, FHA, VA, Calvet Loans, and the Secondary Mortgage Market

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RAO VẶT BUÔN BÁN NHÀ CỬARAO VẶT LITTLE SAIGON

 

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NGƯỜI VIỆT RAO VẶT MIỄN PHÍCHO THUÊ NHÀ, PHÒNG

Bạn có thể bắt đầu thi lý thuyết trắc nghiệm real estate salesperson:

1. 

Which of the following is true?

2. 

Who pays for Mutual Mortgage Insurance?

3. 

An advantage of FHA financing to the buyer is:

4. 

Which type of property has the highest loan-to-value ratio?

5. 

A lending institution might make a government-insured or goverment guaranteed loan rather than a conventional loan at higher interest because of:

6. 

With a monthly gross income of $3,800, loan payment (PITI) of $1,142, and long term monthly debt obligations of $340, the back end ratio would be:

7. 

Life and disability insurance must be purchased by a borrower under a(n) ___ loan.

8. 

A prospective homebuyer is interested in a home that will have a PITI payment of $1,800. His gross monthly income is $7,600. What is his front-end ratio?

9. 

A seller insists on $280,000 as a sales price. The buyer can obtain an FHA loan of $270,000 but has only $6,000 down. The broker should:

10. 

A construction loan would most likely be made by:

11. 

Under federal law, a real estate trust must have:

12. 

In evaluating a man's income for a loan, the least weight would be given to:

13. 

A number of people wish to invest money only in a real estate project but wish to limit their liability. They would form a:

14. 

As to mortgage brokers and mortgage bankers, which of the following is true?

15. 

In considering the liquidity of its mortgage portfolio, a lender would be realating to:

16. 

A buyer was able to get down payment assistance as well as a below market rate of interest. Where did she obtain this loan?

17. 

A government agency that issues mortgage-backed securities would be:

18. 

Which of the following is true?

19. 

Which loan is available for registered domestic partners?

20. 

A lender on a note signed by multiple borrowers would prefer that their liability be:

21. 

A broker aided a buyer in the preparation of fraudulent income statements in order to qualify for a bank loan. This would:

22. 

A mortgage loan correspondent would be regulated primarily by:

23. 

Which of the following is corect?

24. 

A broker should direct a buyer on an offer contingent on an FHA loan to:

25. 

FHA mortgage insured loans are made by:

26. 

Rental housing loans are available through:

27. 

Mutual savings banks are located primarily in the __ part of the United States.

28. 

A veteran wishes to refinance her home with a VA loan. The lender is willing but insists on 31/2 points.

29. 

The property is usually in close proximity; small loans and business loans are preferred; and the past record of the customer is important. What type of lender does the preceding description represent?

30. 

On a $45,000 loan, the VA guarantee would be:

31. 

The highest interest rate is most likely to be charged by:

32. 

CALVET loans are made from:

33. 

An advantage of FHA financing is not that it:

34. 

Both FHA and VA loans cover:

35. 

A substantial down payment in real estate:

36. 

An advantage of a government-insured loan compared with a conventional loan would not be a:

37. 

A borrower did not have a sufficient down payment for an FHA loan. The broker loaned the buyer $1,000 on a personal note in order for the buyer to complete this transaction. This loan:

38. 

Which of the following is not a characteristic of VA loans?

39. 

A buyer wishes to obtain a loan on a house and assume the bonded indebtedness. Which of the following would be true?

40. 

Disintermediation refers to:

41. 

The function of Ginnie Mae do not include:

42. 

After a borrower pays off a CALVET loan by:

43. 

An insurance company is least likely to make a loan on a(n):

44. 

The primary advantage that an FHA loan offers to an institutional lender over a conventional loan is:

45. 

William, whose credit is good, wants to buy a small business. He is a good customer of the bank where he heeps his account. The business he wants to buy is a reasonable one to make money. Who will most likely be the lender?

46. 

"It is now operating under a conservatorship" describes:

47. 

As to loan brokers, which of the following is true?

48. 

A borrower has a gross monthly income of $3,400. The borrower wishes to obtain a loan in which the mortgage payment including taxes and insurance will be $950. The front-end ratio would be:

49. 

As a general rule, the difference between individual and institutional lenders is that individual lenders:

50. 

The term impounds refers to:

51. 

A prospective homebuyer is interested in a home that will have a PITI payment of $1,800. His gross monthly income is $7,600. The buyer has long term debt payments of $1,420 per month. What is his back-end ratio?

52. 

Which of the following is not a description of FHA loans?

53. 

FICO refers to:

54. 

A borrower has a gross monthly income of $3,400. The borrower wishes to obtain a loan in which the mortgage payment including taxes and insurance will be $950. The borrower is making long term debt payments of $350 per month. The back-end ratio would be:

55. 

A loan-t0-value ratio is best described as:

56. 

Which of the following loans is not available for the purchase of a farm?

57. 

A borrower obtained a haft-million dollar home purchase loan at a low rate without a down payment. He likely went to:

58. 

The government is actually the lender of:

59. 

A low loan to value ratio would be indicative of:

60. 

Title I FHA loans:

61. 

In California most of the real estate syndicates are:

62. 

A lender who sells the loans it makes is likely:

63. 

Which of the following is not a general characteristic of loan broker-arranged secondary financing?

64. 

In buying a home for rental use, a borrower would not obtain:

65. 

A veteran is purchasing a home under the California Veterans Farm and Home Purchase Program. Who would be designated the grantee in the grant deed given by the seller?

66. 

A CRV would be needed for a(n) ___ loan.

67. 

The major purpose for which the Federal National Mortgage Association (FNMA) was created was to:

68. 

If appraisal on a VA loan is less than the purchase-price agreement:

69. 

The lender's best protection would be:

70. 

Their loans are all variable rate. What agency is this?

71. 

Which of the following is an open-end loan?

72. 

The source of money for most home loans by institutional lenders is:

73. 

Title is held under a CALVET loan by:

74. 

Albert lost his job but his house payments were made for him because he had a:

75. 

A CALVET/VA loan differs from other CALVET loans in that it can be obtained:

76. 

When are the premiums paid on the insurance for an FHA loan?

77. 

The amount of a VA loan is limited to:

78. 

Insurance companies, in givin real estate loans: