Unit 3 Quiz Attempt #4

Identify loan program available for clients.

Which of these is a major determining factor in whether a loan applicant will receive a home loan?

A consumer can receive a free credit score

FICO stands for?

FICO credit score ranges from

What is the best option for raising funds for purchasing a home and is supported by the US Government?

____ targets rural area borrowed and gives them access to grants, loans, and loan guarantees for single-family and multi-family purchases, as well as child centers, libraries and more.

When a company or individual wants to transfer ownership of a mortgage to another company, they must initiate _______ for the loan?

What type of insurance combines personal liability insurance and hazard insurance?

Which of the following is false regarding debt:?

What is used by lenders in the loan qualification process?

If a loan has a loan to value above 80% then

Which insurance policy combines personal liability insurance and hazard insurance?

Define a debt:

Mortgage insurance ______________

All of the following are correct about “revolving debt” EXCEPT

What is a person’s financial obligations known as?

VA loans in Georgia may be made by:

Which of these is a major determining factor in whether a loan applicant will receive a home loan?

__________ targets rural area borrowed and gives them access to grants, loans, and loan guarantees for single-family and multi-family purchases, as well as child centers, libraries and more:

A condominium form of ownership is officially established once:

Temporary ownership of a property gained through a purchased interest is known as a:

Which of the following describes the record of an individual’s repayment of debt, reviewed by mortgage leaders in determining credit risk?

When considering the term “pre-approval”, which of the following is true?

If an individual wants to transfer ownership of a mortgage to another party, what would that be called?