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- 1. Open EndedFha
- 2. Open EndedIf you meet the lending guidelines, who can qualify for the FHA- insured loan? select all that apply a. permanent residents b. U.S citizens c. non-permanent residents with qualifying work visa d. all non-permanent residents
- 3. Open EndedFHA Direct Endorsement
- 4. Open Endedlimited Denial of Participation
- 5. Open Ended4 c's of underwriting
- 6. Open EndedCredit Alert Verification Reporting System (CAIVRS)
- 7. Open EndedWhich of the following is NOT one of FHA's 4 C's of underwriting a. credit history b. capacity to repay c. cash d. current interest rate
- 8. Open EndedTechnology Open to Approved Lenders (TOTAL)
- 9. Open EndedHousing Expense Ratio
- 10. Open EndedFHA proposed mortgage payment
- 11. Open Endedmaximum monthly housing expense a borrower can afford
- 12. Open Endedtotal debt to income ratio
- 13. Open Endedback end ratio does not exceed
- 14. Fill in the BlankTo qualify for a FHA loan, borrower Andy should have a maximum ______ for the housing expense ratio and 43% for the total debt to income ratio a. 28% b. 31% c. 25% d. 29%
- 15. Open EndedProperty guidelines for FHA loan approval are:
- 16. Open EndedFHA loan property eligibility includes
- 17. Open EndedHUD guidelines indicate that utilities and other facilities should be independent for each unit must include:
- 18. Open EndedMinimum property standards, and min property requirements that require further inspection
- 19. Open EndedFHA loans- occupancy
- 20. Open EndedMax mortgage amount for FHA loans; loan ceiling or base
- 21. Open EndedFHA required min investment
- 22. Open Endedlender overlays
- 23. Open EndedHUD authorized additional requirement conditions for the following options:
- 24. Open Endeda borrower seeking an FHA loan must make a min required investment of at least __ of the home's purchse price or appraised value, whichever is less ( i.e max LTV of 96.5%) from an acceptable source a. 4.2% b. 3.5% c. 5.3 % d. 2.5%
- 25. Open EndedBorrowers seeking an FHA loan with a min. decision credit score between 500 and 579 are a. limited to 90% LTV b. limited to 50% LTV c. not eligible for FHA- insured mortgage financing ]
- 26. Open EndedFHA loan regulations- seller/third-party contribution limits
- 27. Open EndedAssumption
- 28. Open EndedAlienation Clause
- 29. Open EndedPrepayment penalities
- 30. Open EndedMortgage Insurance Premium (MIP)
- 31. Open EndedMIP is canceled when the LTV reaches
- 32. Open EndedMortagee Letters
- Answer choicesTagsAnswer choicesTags