1|Page
XINNIX FINAL EXAM 2025; BRAND NEW EXAM
QUESTIONS WITH 100% VERIFIED SOLUTIONS
HomeOne will allow up to 97% LTV for a primary residence, 1-Unit purchase if at
least one of the borrowers has not owned a home in the last 3 years. A borrower
who has not owned a home in the last three years is considered a first-time home
buyer under HomeOne - correct-answer-True
A partner's percentage of ownership and earnings can be located on Schedule E
part II of their personal tax returns. - correct-answer-False
Residual income is the amount of income available for family support after taxes
and social security expense have been subtracted from the gross income and after
PITI and other long-term debt has been paid. - correct-answer-Response: True
Feedback: See Course 6, Lesson 1
FHA Case Numbers are tied to the property, not the borrower. - correct-answer-
Response: True
Feedback: See Course 5, Lesson 1
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What is the minimum coverage required on the hazard insurance policy? (select
all that apply) - correct-answer-Response: Loan amount
Response: Replacement amount
Feedback: See Course 9, Lesson 7
HOA dues should be added to the PITI for the purpose of calculating ratios when
qualifying a borrower. - correct-answer-Response: True
Feedback: See Course 3, Lesson 2
An origination fee may be paid by the borrower on an FHA loan. - correct-answer-
Response: True
Feedback: See Course 5, Lesson 1
When considering a FHLMC loan, the maximum allowable ratios for the owner
occupant when using a non-occupant co-borrower are 35/43. - correct-answer-
Response: True
Feedback: See Course 4, Lesson 1
Which of the following is the correct list of charges included when calculating the
borrower's cash-to-close? - correct-answer-Response: Down Payment, Closing
Costs, Prepaids, Discount Points, MI paid in cash (UFMIP/FF)
, 3|Page
Feedback: See Course 3, Lesson 4
A borrower that is self-employed (Schedule C) will typically not be required to
provide a YTD paystub. - correct-answer-Response: True
Feedback: See Course 8, Lesson 5
A partner's percentage of ownership and earnings can be located on Schedule E
part II of their personal tax returns. - correct-answer-Response: False
Feedback: See Course 8, Lesson 5
It is ultimately the ____________ responsibility to take a thorough loan
application, to make sure all required documents are requested, and to effectively
relay the decision to the borrowers. - correct-answer-Response:
Feedback: See Course 8, Lesson 1
Unemployment income cannot be used as qualifying income. - correct-answer-
Response: False
Feedback: See Course 4, Lesson 4
XINNIX FINAL EXAM 2025; BRAND NEW EXAM
QUESTIONS WITH 100% VERIFIED SOLUTIONS
HomeOne will allow up to 97% LTV for a primary residence, 1-Unit purchase if at
least one of the borrowers has not owned a home in the last 3 years. A borrower
who has not owned a home in the last three years is considered a first-time home
buyer under HomeOne - correct-answer-True
A partner's percentage of ownership and earnings can be located on Schedule E
part II of their personal tax returns. - correct-answer-False
Residual income is the amount of income available for family support after taxes
and social security expense have been subtracted from the gross income and after
PITI and other long-term debt has been paid. - correct-answer-Response: True
Feedback: See Course 6, Lesson 1
FHA Case Numbers are tied to the property, not the borrower. - correct-answer-
Response: True
Feedback: See Course 5, Lesson 1
,2|Page
What is the minimum coverage required on the hazard insurance policy? (select
all that apply) - correct-answer-Response: Loan amount
Response: Replacement amount
Feedback: See Course 9, Lesson 7
HOA dues should be added to the PITI for the purpose of calculating ratios when
qualifying a borrower. - correct-answer-Response: True
Feedback: See Course 3, Lesson 2
An origination fee may be paid by the borrower on an FHA loan. - correct-answer-
Response: True
Feedback: See Course 5, Lesson 1
When considering a FHLMC loan, the maximum allowable ratios for the owner
occupant when using a non-occupant co-borrower are 35/43. - correct-answer-
Response: True
Feedback: See Course 4, Lesson 1
Which of the following is the correct list of charges included when calculating the
borrower's cash-to-close? - correct-answer-Response: Down Payment, Closing
Costs, Prepaids, Discount Points, MI paid in cash (UFMIP/FF)
, 3|Page
Feedback: See Course 3, Lesson 4
A borrower that is self-employed (Schedule C) will typically not be required to
provide a YTD paystub. - correct-answer-Response: True
Feedback: See Course 8, Lesson 5
A partner's percentage of ownership and earnings can be located on Schedule E
part II of their personal tax returns. - correct-answer-Response: False
Feedback: See Course 8, Lesson 5
It is ultimately the ____________ responsibility to take a thorough loan
application, to make sure all required documents are requested, and to effectively
relay the decision to the borrowers. - correct-answer-Response:
Feedback: See Course 8, Lesson 1
Unemployment income cannot be used as qualifying income. - correct-answer-
Response: False
Feedback: See Course 4, Lesson 4
