NMLS MATH QUESTIONS AND ANSWERS A+
GRADED.Buy Quality Materials!
The Minimum down payment contribution needed for a home with an FHA-
appraised value of $132,000 (assuming a credit score about 579) is
$4,620
A seller agrees to oay for two points on a buyers loan. the Price is $60,000 and
the buyer is making a 20% down payment. Two points equal?
$960
A borrowers stable monthly gross income is $6800. Every month he pays $485
car payment, $200 revolving credit payment, and $1500 alimony. What is the
maximum monthly mortgage payment for which he would qualify on an FHA
mortgage loan?
$739
What is the loan-to-value ratio if the loan amount is $100,000, the appraised value
is $125,000, and the sales price is $127,000
80%
What is the total monthly payment, including escrows, on a 30-year interest only
loan of $205,000, taxes of $1800 per half, hazard insurance of $420 annually, $65
monthly mortgage insurance, and interest rate of 6%?
$1425
You're refinancing a borrower qualifies for a95% LTV and has a payoff of $70000.
How much cash is available if the appraisal is $95000 and the closing costs are
$3000
$17250
A borrower has an ARM with an initial rate of 6% and a rate cap of 2/6. Whats the
highest his interest rate could be over the life of the loan?
12%
A borrower is buying a house for $100000. He provides a down payment of $5000.
If he pays two discount points, what is the total cost of the points?
$1900
A borrowers stable monthly gross income is $2500. He has three monthly debts:
$250 car payments, $100 personal loan payment, and $50 credit card payment.
What is the maximum monthly mortgage payment he would qualify for using the
total debt to income ratio for a conventional loan?
$500
A borrower has been at her job for 10 years and typically works overtime 5 hours
per week at time and a half. Her hourly rate is $15.75. What is the gross monthly
income you can use to qualify?
$3241.88
A borrower is applying to refinance his mortgage. His first mortgage is $25000 at
9% rate. he plans to get cash out, up to $40000. He qualifies for an 80% LTV and
his house appraises for $100000. Shortly before closing, the title exam shows
GRADED.Buy Quality Materials!
The Minimum down payment contribution needed for a home with an FHA-
appraised value of $132,000 (assuming a credit score about 579) is
$4,620
A seller agrees to oay for two points on a buyers loan. the Price is $60,000 and
the buyer is making a 20% down payment. Two points equal?
$960
A borrowers stable monthly gross income is $6800. Every month he pays $485
car payment, $200 revolving credit payment, and $1500 alimony. What is the
maximum monthly mortgage payment for which he would qualify on an FHA
mortgage loan?
$739
What is the loan-to-value ratio if the loan amount is $100,000, the appraised value
is $125,000, and the sales price is $127,000
80%
What is the total monthly payment, including escrows, on a 30-year interest only
loan of $205,000, taxes of $1800 per half, hazard insurance of $420 annually, $65
monthly mortgage insurance, and interest rate of 6%?
$1425
You're refinancing a borrower qualifies for a95% LTV and has a payoff of $70000.
How much cash is available if the appraisal is $95000 and the closing costs are
$3000
$17250
A borrower has an ARM with an initial rate of 6% and a rate cap of 2/6. Whats the
highest his interest rate could be over the life of the loan?
12%
A borrower is buying a house for $100000. He provides a down payment of $5000.
If he pays two discount points, what is the total cost of the points?
$1900
A borrowers stable monthly gross income is $2500. He has three monthly debts:
$250 car payments, $100 personal loan payment, and $50 credit card payment.
What is the maximum monthly mortgage payment he would qualify for using the
total debt to income ratio for a conventional loan?
$500
A borrower has been at her job for 10 years and typically works overtime 5 hours
per week at time and a half. Her hourly rate is $15.75. What is the gross monthly
income you can use to qualify?
$3241.88
A borrower is applying to refinance his mortgage. His first mortgage is $25000 at
9% rate. he plans to get cash out, up to $40000. He qualifies for an 80% LTV and
his house appraises for $100000. Shortly before closing, the title exam shows
