GEORGIA REAL ESTATE U 2025
FINAL EXAM
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Who benefits from owner financing? - ANSWERS-Both the buyer and seller -
since the buyer may not qualify for traditional loans and the seller can collect
interest.
QUESTION 2
Is a real estate agent able to direct financial questions from buyers to lenders? -
ANSWERS-You can make recommendations, but may not want to offer financial
advice.
QUESTION 3
If a home buyer wants an FHA loan, can he get it through a savings and loan
association? - ANSWERS-Most offer them, but not all favor these loans
END OF
PAGE 1
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 4
With a low-down payment, is a savings and loan association best for a borrower? -
ANSWERS-It may be one option, but these loans tend to offer only 95 percent of
the home loan as financing.
QUESTION 5
Peter says he needs a national lender because his parent's bank is just too old
fashioned. Is that true? - ANSWERS-Most savings and loan organizations have
modernized to offer more options than ever.
QUESTION 6
James wants to choose the least affordable loan term. What should he look for? -
ANSWERS-The shortest term loan.
QUESTION 7
Nick received an offer from a mortgage broker. Will his loan come from that
broker? - ANSWERS-Typically, mortgage brokers work with numerous lenders,
not just one. Nick's loan could come from multiple sources
END OF
PAGE 2
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 8
Thomas has been a member of a credit union for 10 years. Should he get a loan
here? - ANSWERS-Generally, yes, because rates can be lower. However, he
should consider all options.
QUESTION 9
Can Zach's insurance company give him a mortgage loan? - ANSWERS-No,
insurance companies often invest in mortgage-based securities, but do not lend
directly to borrowers.
QUESTION 10
Should your home buyer really care where the funding from his loan comes from?
- ANSWERS-Yes, he should know who the lender is, but not be too worried about
the underlying investors.
QUESTION 11
If Jessica wants a stable monthly payment, what should she look for in a loan? -
ANSWERS-A fixed interest rate loan.
END OF
PAGE 3
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 12
Will credit unions offer mortgage loans to anyone? - ANSWERS-No, individuals
typically need to be a member of the credit union.
QUESTION 13
What can cause a holdup with a loan application for Julio? - ANSWERS-A lack of
identification of personal information, debts, income, or other qualifying factors
QUESTION 14
What is an indication your home buyer is serious about buying? - ANSWERS-He's
pre-approved for a loan.
QUESTION 15
What is a pre-qualification letter? - ANSWERS-It says the lender has done basic
levels of determining if a home buyer is qualified to buy
END OF
PAGE 4
FINAL EXAM
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
Who benefits from owner financing? - ANSWERS-Both the buyer and seller -
since the buyer may not qualify for traditional loans and the seller can collect
interest.
QUESTION 2
Is a real estate agent able to direct financial questions from buyers to lenders? -
ANSWERS-You can make recommendations, but may not want to offer financial
advice.
QUESTION 3
If a home buyer wants an FHA loan, can he get it through a savings and loan
association? - ANSWERS-Most offer them, but not all favor these loans
END OF
PAGE 1
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 4
With a low-down payment, is a savings and loan association best for a borrower? -
ANSWERS-It may be one option, but these loans tend to offer only 95 percent of
the home loan as financing.
QUESTION 5
Peter says he needs a national lender because his parent's bank is just too old
fashioned. Is that true? - ANSWERS-Most savings and loan organizations have
modernized to offer more options than ever.
QUESTION 6
James wants to choose the least affordable loan term. What should he look for? -
ANSWERS-The shortest term loan.
QUESTION 7
Nick received an offer from a mortgage broker. Will his loan come from that
broker? - ANSWERS-Typically, mortgage brokers work with numerous lenders,
not just one. Nick's loan could come from multiple sources
END OF
PAGE 2
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 8
Thomas has been a member of a credit union for 10 years. Should he get a loan
here? - ANSWERS-Generally, yes, because rates can be lower. However, he
should consider all options.
QUESTION 9
Can Zach's insurance company give him a mortgage loan? - ANSWERS-No,
insurance companies often invest in mortgage-based securities, but do not lend
directly to borrowers.
QUESTION 10
Should your home buyer really care where the funding from his loan comes from?
- ANSWERS-Yes, he should know who the lender is, but not be too worried about
the underlying investors.
QUESTION 11
If Jessica wants a stable monthly payment, what should she look for in a loan? -
ANSWERS-A fixed interest rate loan.
END OF
PAGE 3
, GEORGIA REAL ESTATE U 2025
FINAL EXAM
QUESTION 12
Will credit unions offer mortgage loans to anyone? - ANSWERS-No, individuals
typically need to be a member of the credit union.
QUESTION 13
What can cause a holdup with a loan application for Julio? - ANSWERS-A lack of
identification of personal information, debts, income, or other qualifying factors
QUESTION 14
What is an indication your home buyer is serious about buying? - ANSWERS-He's
pre-approved for a loan.
QUESTION 15
What is a pre-qualification letter? - ANSWERS-It says the lender has done basic
levels of determining if a home buyer is qualified to buy
END OF
PAGE 4
