If an applicant works 40 hours a week and is paid $ 14.26 per hour, what is the applicant’s average monthly income?
The Homeowners Protection Act states that when a loan-to-value falls below 78% PMI is to be:
The term “20 basis points” expressed as a percentage is:
According to the Truth-in-Lending Act (TILA), which of the following fees is EXCLUDED from the calculation of the annual percentage rate?
LTVR/LTV is the acronym for:
LIBOR is the acronym for:
FHA (Federal Housing Administration) loans fall under the control and guidelines of
New VA loans are available to:
Which of the following statements about a VA loan is true?
FHA loans can be obtained by:
Interest rates for an FHA loan are set by:
On an FHA loan, the discount points can be paid:
FHA loan limits change from time to time, and are based on the:
Which type of loan application requires a residual income analysis to be performed?
An active duty service person, or a veteran obtaining his/her first VA loan would pay what amount for the VA funding fee (2017)?
The loan officer suspects the social security number in an FHA application is incorrect, what must he/she do?
What are the qualifying ratios on an FHA loan when manually underwritten?
What loan requires an upfront mortgage insurance fee?
On an FHA loan, which form of a gift is NOT allowed?
.In selling a home which has an FHA loan, when can the FHA loan be assumed?
How much is charged for the up front mortgage insurance on an FHA loan (2012)?
When a borrower asks for an FHA loan, which of the following is false concerning the borrower’s credit?
Which of the following would keep you from getting an FHA loan?
The borrower wants to get an FHA loan, but a judgment appears on the credit report. Which of the following represents how the judgment will be treated?
When purchasing a home with an FHA loan, which of the following is true concerning employment?
With an FHA loan, which of the following is true concerning qualifying ratios?
Which of the following is true concerning income with an FHA loan?
What part of a monthly payment cannot change during the fixed term of the mortgage loan?
Which of the following does NOT directly influence interest rates?
A person, who brings a borrower and lender together, is knows as a:
.For loans purchased by FNMA or FHLMC, the conforming limit for 2017 is:
What is a mortgage or trust deed?
Under a trust deed and note, what interests do the borrower and lender hold in the property which is used as collateral?
Borrowers who qualify for conforming loans would be referred to as:
In the mortgage business, what does the word “term” refer to?
The entity that services a loan, basically takes on the duties of the:
The way to compute LTV would be?
When a loan is immediately being sold onto the secondary market, the responsibility of “funding” belongs to the:
Jumbo Loans are considered what type of loan:
When FNMA or FHLMC loan limits are exceeded, the loan is considered to be ___________.
An interest rate at PAR would be?
