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. 

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

2. 

A substantial down payment in real estate:

3. 

A mortgage loan correspondent would be regulated primarily by:

4. 

Which of the following is true?

5. 

Under federal law, a real estate trust must have:

6. 

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:

7. 

The function of Ginnie Mae do not include:

8. 

Who pays for Mutual Mortgage Insurance?

9. 

Disintermediation refers to:

10. 

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

11. 

The government is actually the lender of:

12. 

An advantage of FHA financing to the buyer is:

13. 

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?

14. 

Which of the following is an open-end loan?

15. 

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?

16. 

After a borrower pays off a CALVET loan by:

17. 

Title is held under a CALVET loan by:

18. 

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

19. 

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

20. 

Which loan is available for registered domestic partners?

21. 

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

22. 

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

23. 

The lender's best protection would be:

24. 

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

25. 

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

26. 

Title I FHA loans:

27. 

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

28. 

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

29. 

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

30. 

CALVET loans are made from:

31. 

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

32. 

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:

33. 

Insurance companies, in givin real estate loans:

34. 

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

35. 

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

36. 

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

37. 

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

38. 

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

39. 

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

40. 

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:

41. 

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:

42. 

Which of the following is true?

43. 

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

44. 

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

45. 

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

46. 

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

47. 

The amount of a VA loan is limited to:

48. 

Both FHA and VA loans cover:

49. 

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?

50. 

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?

51. 

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

52. 

A construction loan would most likely be made by:

53. 

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:

54. 

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

55. 

A low loan to value ratio would be indicative of:

56. 

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

57. 

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

58. 

Rental housing loans are available through:

59. 

In California most of the real estate syndicates are:

60. 

Which of the following is corect?

61. 

"It is now operating under a conservatorship" describes:

62. 

FICO refers to:

63. 

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

64. 

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

65. 

An advantage of FHA financing is not that it:

66. 

A lender who sells the loans it makes is likely:

67. 

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

68. 

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

69. 

The term impounds refers to:

70. 

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

71. 

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

72. 

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

73. 

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?

74. 

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

75. 

FHA mortgage insured loans are made by:

76. 

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

77. 

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

78. 

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

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