Mortgage Final

Welcome to your Mortgage Final Final Exam. Click "Next" to continue.

As opposed to conventional loans, a lender will require what documentation for the VA Guaranty Loan?

What did the term "mortgage" originally stand for?

Certain Veterans are eligible for a grant up to what amount to purchase, build, modify, or pay down a existing mortgage?

Hint


If a mortgage lender approves a home loan for $300,000 with a 1.5% commission rate, how much will he or she earn in commission?

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?

With which type of mortgage does the owner make payments on the interest, but not the principal?

A vast majority of home loan applications are approved.

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Assumptive closing involves moving toward a closing process, which usually starts with gathering the information needed to finalize a sale.

The more loans a lender can legitimately approve, the more money they make.

An independent mortgage broker often works with a number of local real estate agents.

How is this fact important to mortgage lenders: On average, Veterans qualify for home loans at a greater rate than non-veterans. (Choose all that apply)

What is one of the primary qualifications a person must meet in order to get a mortgage loan?


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