1. Private mortgage insurance reduces:a. the lender’s risk of loss in the event of borrower default. b. the borrower’s risk against rising interest rates. c. the seller’s risk in the event of a buyer backing out of the sale. d. none of the above.
96. The maximum veteran entitlement for a VA loan guaranty i…
96. The maximum veteran entitlement for a VA loan guaranty is:a. $36,000. b. $360,000. c. $360. d. none of the above.
36. The standard loan-to-value ratio has traditionally been:…
36. The standard loan-to-value ratio has traditionally been:a. 60%. b. 70%. c. 80%.d. 90%.
75. Private mortgage insurance is required on loans that exc…
75. Private mortgage insurance is required on loans that exceed what percentage of the value of a property?a. 20% b. 50% c. 80%d. None of the above
93. The maximum origination fee for both FHA and VA loans is…
93. The maximum origination fee for both FHA and VA loans is:a. 1%. b. 10%. c. 20%. d. $1500.00.
67. The FHA maximum debt ratios are:a. 25% and 35%. …
67. The FHA maximum debt ratios are:a. 25% and 35%. b. 31% and 43%.c. 50% and 70%.d. 29% and 45%
36. The standard loan-to-value ratio has traditionally been:…
36. The standard loan-to-value ratio has traditionally been:a. 60%. b. 70%. c. 80%.d. 90%.
96. The maximum veteran entitlement for a VA loan guaranty i…
96. The maximum veteran entitlement for a VA loan guaranty is:a. $36,000. b. $360,000. c. $360. d. none of the above.
42. What age must a reverse mortgage borrower be?a. Over 55…
42. What age must a reverse mortgage borrower be?a. Over 55 b. Over 62 c. Over 65 d. Over 70
75. Private mortgage insurance is required on loans that exc…
75. Private mortgage insurance is required on loans that exceed what percentage of the value of a property?a. 20% b. 50% c. 80%d. None of the above