Real Estate Principles Chapter 15
Study online at https://quizlet.com/_4yaubv
1. 1 of 10 - Patrice and Jacque have secured a mortgage loan. They must provide
at least a 20% down payment, but are not required to have a government
guarantee or private mortgage insurance. What type of mortgage loan have
they obtained?: Conventional Loan
2. 2 of 10 - What category of borrowers sees Syndicate Equity Financing as a
good opportunity?: Small investors.
3. 3 of 10 - Gordon makes a trip to his financial institution one morning. He
has conducted all of his banking transactions at the institution for more than
twenty years. Today he walks out with a loan on his new home and one for a
new boat. What method of financing has Gordon secured?: Commercial
4. 4 of 10 - Jack owns a small home near a school. He doesn't have any children,
and doesn't plan on having any in the future. Jack is a writer and works out of
his home. All of the noise from the playground during the day interrupts Jack
while he is trying to work. Tina, a friend of Jack's, also owns a small home. Her
home is in a quiet, little secluded neighborhood. She has a child that will be
entering first grade in the fall and wishes she lived closer to a school. One day,
Jack asked Tina if she would want to exchange homes. Is this a possibility?: Yes,
a trade of properties (Exchange) is possible if the trade involves no financing and the properties are not mortgaged.
5. 5 of 10 - Why are sales contracts no longer a popular financing instrument in
California?: All of the Above
It is very difficult for the seller to remove a buyer that is in default.
The buyer is at risk because he holds no immediate title to the property.
Court battles involving both the seller and buyer could be lengthy and costly.
6. 6 of 10 - Who is the largest private mortgage insurer?: Mortgage Guarantee Insurance
Corporation
7. 7 of 10 - Tyoka has a small retail store in San Diego. He sells imported items
such as clothing, arts, and crafts. He has recently sold the store to a group of
investors. In the arrangement with the investors, Tyoka now leases his former
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Study online at https://quizlet.com/_4yaubv
1. 1 of 10 - Patrice and Jacque have secured a mortgage loan. They must provide
at least a 20% down payment, but are not required to have a government
guarantee or private mortgage insurance. What type of mortgage loan have
they obtained?: Conventional Loan
2. 2 of 10 - What category of borrowers sees Syndicate Equity Financing as a
good opportunity?: Small investors.
3. 3 of 10 - Gordon makes a trip to his financial institution one morning. He
has conducted all of his banking transactions at the institution for more than
twenty years. Today he walks out with a loan on his new home and one for a
new boat. What method of financing has Gordon secured?: Commercial
4. 4 of 10 - Jack owns a small home near a school. He doesn't have any children,
and doesn't plan on having any in the future. Jack is a writer and works out of
his home. All of the noise from the playground during the day interrupts Jack
while he is trying to work. Tina, a friend of Jack's, also owns a small home. Her
home is in a quiet, little secluded neighborhood. She has a child that will be
entering first grade in the fall and wishes she lived closer to a school. One day,
Jack asked Tina if she would want to exchange homes. Is this a possibility?: Yes,
a trade of properties (Exchange) is possible if the trade involves no financing and the properties are not mortgaged.
5. 5 of 10 - Why are sales contracts no longer a popular financing instrument in
California?: All of the Above
It is very difficult for the seller to remove a buyer that is in default.
The buyer is at risk because he holds no immediate title to the property.
Court battles involving both the seller and buyer could be lengthy and costly.
6. 6 of 10 - Who is the largest private mortgage insurer?: Mortgage Guarantee Insurance
Corporation
7. 7 of 10 - Tyoka has a small retail store in San Diego. He sells imported items
such as clothing, arts, and crafts. He has recently sold the store to a group of
investors. In the arrangement with the investors, Tyoka now leases his former
1/2
