Xinnix SOAR Mock Exam 2026
Questions and Answers 100% Pass
Guaranteed
A fixed-rate second mortgage has the loan amount fully disbursed at closing.
Monthly payments are amortized over the term of the loan. Once the balance is
paid off the mortgage is closed. - Correct answer-True
A veteran may exchange a portion of their entitlement for cash. - Correct answer-
False
Judgments and tax liens are required to be paid off at or prior to loan closing.
(FNMA/FHLMC) - Correct answer-True
Gross rent may be considered effective income when an applicant is planning to
rent their current residence after closing on the purchase of their new home. -
Correct answer-False
A simultaneous second mortgage is obtained at the same time as a first mortgage. -
Correct answer-True
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
, A 2/1 buydown typically costs 2.5 discount points. Give or take .25%. - Correct
answer-True
Most loans do not have a prepayment penalty. - Correct answer-True
What are the four General Styles of Communication? - Correct answer-Expresser,
Relater, Driver, Analytic
VA requires connection to a public or community water/sewer disposal system if
required by local building, planning, or health authorities. - Correct answer-True
A 3/1 ARM will have an initial fixed rate for 3 years, then adjust annually. -
Correct answer-True
HOA dues are included in the PITI calculation. - Correct answer-False
All of the following documents must be provided by the builder to the mortgage
company on an FHA new construction loan prior to the loan being cleared to close
EXCEPT: - Correct answer-Appraisal Certificate
DU does not consider non-occupant income as qualifying income. - Correct
answer-True
To sympathize with a customer lets them know you identify with the way they feel.
- Correct answer-True
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
Questions and Answers 100% Pass
Guaranteed
A fixed-rate second mortgage has the loan amount fully disbursed at closing.
Monthly payments are amortized over the term of the loan. Once the balance is
paid off the mortgage is closed. - Correct answer-True
A veteran may exchange a portion of their entitlement for cash. - Correct answer-
False
Judgments and tax liens are required to be paid off at or prior to loan closing.
(FNMA/FHLMC) - Correct answer-True
Gross rent may be considered effective income when an applicant is planning to
rent their current residence after closing on the purchase of their new home. -
Correct answer-False
A simultaneous second mortgage is obtained at the same time as a first mortgage. -
Correct answer-True
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
, A 2/1 buydown typically costs 2.5 discount points. Give or take .25%. - Correct
answer-True
Most loans do not have a prepayment penalty. - Correct answer-True
What are the four General Styles of Communication? - Correct answer-Expresser,
Relater, Driver, Analytic
VA requires connection to a public or community water/sewer disposal system if
required by local building, planning, or health authorities. - Correct answer-True
A 3/1 ARM will have an initial fixed rate for 3 years, then adjust annually. -
Correct answer-True
HOA dues are included in the PITI calculation. - Correct answer-False
All of the following documents must be provided by the builder to the mortgage
company on an FHA new construction loan prior to the loan being cleared to close
EXCEPT: - Correct answer-Appraisal Certificate
DU does not consider non-occupant income as qualifying income. - Correct
answer-True
To sympathize with a customer lets them know you identify with the way they feel.
- Correct answer-True
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
