Rmlo - Champions School Of Real Estate| 109 Questions With 100% Correct Answers

Section 32 loans are also known as ______ loans. {Ans: high-cost}VA allows sellers to provide concessions up to _____ percent of the sales price. {Ans: 4%}The ______ Feedback Certificate summarizes whether a mortgage will be eligible for purchase by Freddie Mac. {Ans: Loan Product Advisor (LPA)}The disclosures related to the transfer of ______ are required for first mortgage liens of federally related mortgage loans, including all financing transactions of such loans. {Ans: mortgage servicing}_______ is often referred to as the "one-time-close" or the "single-close construction loan program. It combines the cost to purchase the land and construction cost in one loan. {Ans: construction-to-permanent loan}______ is the highest price likely to be paid for a property, assuming that the property was available to all potential buyers at a realistic price or a reasonable length of time, and neither buyer or seller was prevented from learning all the facts about the property and its place in the market. {Ans: market value}______ is defined as the ratio of the amount borrowed to appraised value or sales price of the real property expressed as a percentage. {Ans: LTV}Reg X requires that the estimated settlement charges and loan