Federal legislation that will prevent discrimination against an applicant because of their race is RESPA. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The ECOA or the Equal
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07/31/2009
In lease-option type situations the rent charged to the tenant is rarely higher than the fair market rent for the property. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False T
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07/31/2009
It is never advisable for a buyer to consider raising cash for a balloon payment by refinancing his or her loan. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False Refinacing may be an
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07/31/2009
A seller will most likely consider using a seller second to supplement a new loan for a buyer when interest rates are high. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife phot
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07/31/2009
A land contract may be used to finance the buyer's purchase of a home. This is the first mortgage. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. True The land contract
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07/31/2009
A land contract is usually acceptable for a seller second which will supplement an institutional loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False A land contract can
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07/31/2009
The rule of thumb, when qualifying a VA loan applicant, is that debt to income ratio should not exceed 55%. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False The debt
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07/31/2009
The VA will consider and allow secondary financing only if the total amount of the loan to be financed exceeds the appraised value of the property. Is this fact true or false ? Please remember to take your time. The solution is posted below
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07/31/2009
A veteran is applying for a 400,000 dollar loan, which is the purchase price of the home, and has full VA entitlement. The home was appraised at 425,000 dollars. The required downpayment for the loan is 1.5% of the total loan amount, or $60
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07/26/2009
Prepayment penalties are always a condition of underwriting a VA loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False Prepayment penalties are not allowed with a VA loan
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07/26/2009
