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A straight term loan is defined as
Under which financing method the seller carries a portion (or sometimes all) of the loan for the buyer?
The statement that discloses whether the lender will service the loan is ___
What is a two-step mortgage?
Which of the following are government loan programs?
A ________ is the final lump some payment due at the termination of a balloon mortgage?
A mortgage for the remaining balance at a specific time is _____
The date for an ARM or adjustable-rate mortgage is described as
Which of the following are government loan programs?
What type of mortgage has a rate that does not change?
The owner’s financial interest in the property which is the difference between the fair market value of a property and the amount still owed on the mortgage and other liens is his
A VA loan has which of the following applied to it?
Which of the following is not true of the Federal National Mortgage Association (Fannie Mae)?
A lender would say that ____________ is the process of getting new loans
The period of time when a lender gives you a specific interest rate for specific time is called:
Raw data pulled from two or more of the major credit repositories for a credit report is called:
What is untrue about no cash-out refinancing?
Define “assumable mortgage”:
The _______ is paid by a mortgager for mortgage insurance, either a government agency or to a private agency.
Credit is an agreement in which:
Fannie Mae’s primary activity is not to:
What is the definition of a life cap?
A change in your mortgage without having to refinance is:
What is a mortgage banker?
What do you call a participant in the secondary market?
Which of the following protects a lender’s interest in a mortgage loan with a high LTV (loan-to-value) ratio?
The mortgagor would pay no principle on the loan until the end of the term in what type of mortgage?