Texas Real Estate Finance | Questions and Answers |
2025/2026 | Instant Download
What is the formula for determining a borrower's total (PITI + Long Term Liabilities)/ Gross Monthly Income
debt service ratio?
Which of the following Statements is true of private It may be paid in a lump sum at closing, in some instances.
mortgage insurance (PMI)?
, At an adjustment period, the interest rate for an adjustable
Margin
rate mortgage (ARM) is determined by adding what to the
index rate?
When an appraiser conducts an appraisal using the cost
Land
approach, for which things will he or she use the sales
comparison approach to value?
What is another term for negative amortization? Deferred Interest
The Federal Housing Administration (FHA) is part of what Department of Housing and Urban
Development other government agency?
To determine the value of a highly specialized building, Cost
Approach like a museum, an appraiser would most likely use and
heavily weight which of the following appraisal methods?
What happens in the secondary market? Real Estate Loans are bought and sold.
In Texas, which of the following is an executory contract? Condominium Contract
Which of the following is true of a VA hybrid loan? It converts to fixed rate loans after three years.
What is not part of the required lender disclosures? Number of loans originated to women.
What is the minimum down payment that allows a 20%
borrower to avoid buying mortgage insurance premium
(MIP)?
Which calculations on the Closing Disclosure (aka HUD- Settlement
Charges 1) form are usually completed first?
What effect does a debit to the seller have on charges Decreases the amount the seller receives after
closing." made to the parties involved in the transaction?
Jerry sold his last home five years ago and moved into an Yes, because legally, anyone that has not owned for three years is a first
time apartment. Now Jerry is thinking about buying a home and home buyer.
has seen some great programs for first time home buyers.
Will Jerry qualify as a "first time home buyer"? He has
owned no other real estate.
What effect does a debit to the buyer have on charges Increases the amount due from the buyer at
closing. made to the parties involved in the transaction?
What entity assembles mortgages into pools and issues A REMIC
pass through certificates, multiclass bonds, or other
securities to investors in the secondary mortgage market?
Which of the following is NOT one of the principal buyers
Sallie
Mae of real estate loans on the secondary market?
2025/2026 | Instant Download
What is the formula for determining a borrower's total (PITI + Long Term Liabilities)/ Gross Monthly Income
debt service ratio?
Which of the following Statements is true of private It may be paid in a lump sum at closing, in some instances.
mortgage insurance (PMI)?
, At an adjustment period, the interest rate for an adjustable
Margin
rate mortgage (ARM) is determined by adding what to the
index rate?
When an appraiser conducts an appraisal using the cost
Land
approach, for which things will he or she use the sales
comparison approach to value?
What is another term for negative amortization? Deferred Interest
The Federal Housing Administration (FHA) is part of what Department of Housing and Urban
Development other government agency?
To determine the value of a highly specialized building, Cost
Approach like a museum, an appraiser would most likely use and
heavily weight which of the following appraisal methods?
What happens in the secondary market? Real Estate Loans are bought and sold.
In Texas, which of the following is an executory contract? Condominium Contract
Which of the following is true of a VA hybrid loan? It converts to fixed rate loans after three years.
What is not part of the required lender disclosures? Number of loans originated to women.
What is the minimum down payment that allows a 20%
borrower to avoid buying mortgage insurance premium
(MIP)?
Which calculations on the Closing Disclosure (aka HUD- Settlement
Charges 1) form are usually completed first?
What effect does a debit to the seller have on charges Decreases the amount the seller receives after
closing." made to the parties involved in the transaction?
Jerry sold his last home five years ago and moved into an Yes, because legally, anyone that has not owned for three years is a first
time apartment. Now Jerry is thinking about buying a home and home buyer.
has seen some great programs for first time home buyers.
Will Jerry qualify as a "first time home buyer"? He has
owned no other real estate.
What effect does a debit to the buyer have on charges Increases the amount due from the buyer at
closing. made to the parties involved in the transaction?
What entity assembles mortgages into pools and issues A REMIC
pass through certificates, multiclass bonds, or other
securities to investors in the secondary mortgage market?
Which of the following is NOT one of the principal buyers
Sallie
Mae of real estate loans on the secondary market?
