Mortgage 3 Welcome to your Mortgage 3 Quiz. Click "Next" to continue. What is one of the primary qualifications a person must meet in order to get a mortgage loan? They need to sign their name on the loan agreement. They need to be at leas 21 years of age. They need to meet a minimum credit requirement. They need to show copies of their utility bills to prove residence. While working with a mortgage lender you should carefully balance emotional and factual information. You want to make them feel they are supporting Veteran programming while possibly gaining new clients. True False Which statement below is a good response when talking to a mortgage lender who says: "VA Home Loans are too difficult to work with." "The government never makes anything easy. That's why you need to learn ways to take advantage of the Veterans." "We offer handbooks to give you a better understanding of the VA Home Loan process, the process will become easier, and you'll end up earning higher commission." "That just means you don't understrand them. We can help you with that." In all, how much of the entire U.S. homebuyer market may be eligible to use the VA Home Loan? 50% 1/6th 75% Lenders should work with Veterans who qualify for VA Home Loans because their foreclosure rates are higher. True False You tell a mortgage lender that he can earn more commission by working with every Veteran in his community because they don't pay mortgage insurance and can get more home for their money. Is this true? Absolutely Absolutely not It depends on how bad I need the sale The Hometown Hero Project is a Public Benefit Corporation because it is a non-profit which receives support from the community. True False If a loan lender approves a home loan for $200,000 (after down payment) and he earns 1% commission. How much commission did he earn on this mortgage? $20,000 $2,200 $3,000 None of the above It is ok to say? "We'll push the payment out 30 days to show you that this works." Yes No A vast majority of home loan applications are approved. True False Stage Name/Real Name Unit Time's up Posted on August 24, 2019April 24, 2020 By admin
