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What is the minimum credit score required under the Federal Housing Administration (FHA)- Insured?
A loan in which the borrower makes only interest payments is called a(n)
A budget mortgage is
A wraparound loan is when
Under which financing method the seller carries a portion (or sometimes all) of the loan for the buyer?
What is it called when a borrower signs without using collateral?
A conventional mortgage loan is one that is
Which laws or regulation require mortgage lenders to provide an estimate of closing costs to a borrower and forbid them to pay kickbacks for referrals?
The practice of redlining is specifically prohibited by
What is the definition of a cash out refinance?
What is a construction loan?
A lender in Georgia calculates the PMI of a $220,000 home with $28,600 down payment with a ____ loan.
A loan that is required for the remaining balance at a specific time
Loans guaranteed or insured by the Federal Housing Administration, the Department of Veterans’ Affairs, and the Rural Housing Service are __
Assessing PMI by a Georgia lender is for?
The difference between the fair market value of a property and the amount still owed on the mortgage and other liens is called:
Raw data pulled from two or more of the major credit repositories which creates a credit report is a
A no cash-out refinance is best described as
A ‘deed in lieu’ (of foreclosure) is not _______
A mortgage banker…
Who participates in the secondary market?
What provides additional security to 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 a ____ mortgage?
Which of the answers does not pertain to the Treasury index?
Which is true of the Veteran’s Administration
______ is the deal a seller makes with a purchaser to stay in the home after close