Mip amount for a property Study guides, Study notes & Summaries

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED/ What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - -Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - -The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan?...

NM Real Estate Practice Exam Questions with Verified Solutions Feet in an acre 43,560 ft Feet in a Mile 5,280 ft A Plat An unofficial map or plan of a parcel of land that's been or will be subdivided to show the boundaries of each created lot Metes and Bounds Description using compass headings and directions Lot and Block Land description which provides plat reference Oversees Fannie Mae and Freddie Mac and regulates the Federal Home Loan Bank Federal Housing Finance Agency...

2023/2024 CALIFORNIA REAL ESTATE EXAM ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS WITH RATIONALES & CALCULATIONS /A+ GRADE An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - correct answers d. all of the above. These are elements of value. ...

The CE Shop Finance 2023 Exam Questions with Correct Answers Cassie is helping her buyer client, Gus, prepare for closing. What should she encourage him to verify as soon as he receives the form? - ANSWER That the borrower and seller names, the property address, and the sales price are accurate and spelled correctly The ______ clause in a deed of trust allows the lender to foreclose non-judicially. - ANSWER Power of sale -The power-of-sale clause can be understo...

An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - d. all of the above. These are elements of value. Which of the following abbreviations is associated with the FHA? a. NAR b. CPM c. MIP/MMI d. MBA - c. MIP/MMI MIP - Mortgage Insurance Premium/Mu...

Xinnix Final Exam Questions With Answers On an FHA loan the upfront MIP should be included when calculating cash-to-close. False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False A 3-Year ARM adjusts every 3 years True A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False A HELOC loan has an interest only payment True ...

California-Real-Estate-Exam=Multiple Choice Questions with Solutions (Latest Update 2023) An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - correct answers d. all of the above. These are elements of value. Which of the following abbreviations is ...

B - 249,900 x 97% = 242,403 Loan Amount. 242,403 x 1.25% = $3,030.0375 rounds to $3,031.00 Upfront MIP. 242,403 + 3,031.00 = $245,434 New Loan Amount. 245,434 x . 75% = 1840.755 / 12 = 153.39625 Rounds to $153.40 per month - correct answer Calculate the Monthly MIP Amount for a property with a Sales Price of $249,900 with a 97% FHA Loan. The Up Front Amount Rate of 1.25% is financed in to the loan and the Monthly MIP Rate is .75% A. $1,840.73 B. $153.40 C. $3030.00 D. $181.50 A - 179,0...

blea 825 comprehensive final exam 2024 with correct answers 5 parts of criminal procedures Ans- 1. constitutional documents. 2. RCW 3. Wa court rules 4. Agency policies 5. common law two kinds of criminal procedures Ans- 1. Substantive law- mental states necessary to commit a crime. 2. Procedural law- RCW 10.31.100 Criminal liability Ans- You get criminally charged Civil liability Ans- admin leave, remedial training Departmental liability Ans- Department gets sued o...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...