Real Estate Finance I-CHAMPIONS COMPLETE QUESTIONS AND
Real Estate Finance I-CHAMPIONS
MULTIPLE ANSWERS | ALREADY PASSED | 2025 LATEST!!
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1. The minimum downpayment on a VA loan is: B
(a) 2% of the sales price
(b) 0% of the sales price
(c) 3.75% of the sales price
(d) 1% of the sales price
2. _________ is the process of creating a new mortgage A
loan.
(a) Origination
(b) Funding
(c) Underwriting
(d) Servicing
*
3. A veteran can have more than one VA loan: C
(a) If the prior VA loan was paid in full and the property
disposed of
(b) The prior VA loan was assumed by an eligible veter-
an who substituted their entitlement
(c) A or B
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(d) Under no circumstances - a VA loan is a "once in a
lifetime" benefit
*
4. _________ are not-for-profit organizations that exist to B
serve their members.
(a) Mortgage companies
(b) Credit unions
(c) Insurance companies
(d) One that cannot be financed
5. A qualifying ratio that compares the borrower's pro- C
posed house payment to their gross monthly income
is the __________.
(a) Back ratio
(b) Appraisal ratio
(c) Front ratio
(d) Loan to value ratio
6. Periodic payment amounts such as principal & inter- A
est, estimated escrow, estimated monthly payment,
and __________ must be disclosed in the Projected Pay-
ments section of the Loan Estimate form.
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(a) Mortgage Insurance
(b) Homeowner's insurance
(c) Property value
(d) Estimated inspection cost
7. ___________ relates to Federal Government spending. D
(a) Monetary policy
(b) Legislative policy
(c) Reserve requirement
(d) Fiscal policy
8. In the Closing Disclosure, prepaids include homeown- B
er's and mortgage insurance premiums, prepaid in-
terest, property taxes, and a maximum of __________
additional items.
(a) 13
(b) 3
(c) 7
(d) 9
Real Estate Finance I-CHAMPIONS
MULTIPLE ANSWERS | ALREADY PASSED | 2025 LATEST!!
Study online at https://quizlet.com/_8brabv
1. The minimum downpayment on a VA loan is: B
(a) 2% of the sales price
(b) 0% of the sales price
(c) 3.75% of the sales price
(d) 1% of the sales price
2. _________ is the process of creating a new mortgage A
loan.
(a) Origination
(b) Funding
(c) Underwriting
(d) Servicing
*
3. A veteran can have more than one VA loan: C
(a) If the prior VA loan was paid in full and the property
disposed of
(b) The prior VA loan was assumed by an eligible veter-
an who substituted their entitlement
(c) A or B
, Real Estate Finance I-CHAMPIONS
Study online at https://quizlet.com/_8brabv
(d) Under no circumstances - a VA loan is a "once in a
lifetime" benefit
*
4. _________ are not-for-profit organizations that exist to B
serve their members.
(a) Mortgage companies
(b) Credit unions
(c) Insurance companies
(d) One that cannot be financed
5. A qualifying ratio that compares the borrower's pro- C
posed house payment to their gross monthly income
is the __________.
(a) Back ratio
(b) Appraisal ratio
(c) Front ratio
(d) Loan to value ratio
6. Periodic payment amounts such as principal & inter- A
est, estimated escrow, estimated monthly payment,
and __________ must be disclosed in the Projected Pay-
ments section of the Loan Estimate form.
, Real Estate Finance I-CHAMPIONS
Study online at https://quizlet.com/_8brabv
(a) Mortgage Insurance
(b) Homeowner's insurance
(c) Property value
(d) Estimated inspection cost
7. ___________ relates to Federal Government spending. D
(a) Monetary policy
(b) Legislative policy
(c) Reserve requirement
(d) Fiscal policy
8. In the Closing Disclosure, prepaids include homeown- B
er's and mortgage insurance premiums, prepaid in-
terest, property taxes, and a maximum of __________
additional items.
(a) 13
(b) 3
(c) 7
(d) 9
