Multiple Choice
Choose the most appropriate answer for each.
-real estate loans that are not insured by FHA or guaranteed by the VA
A) Amortized loan
B) Amortization tables
C) Balloon loan
D) Budget mortgage
E) Conventional loan
F) Discount point
G) Equity
H) FHA
I) Impound account
J) Loan balance table
K) Loan origination fee
L) Loan-to-value ratio
M) Maturity
N) Partially amortized loan
O) PITI payment
P) PMI
Q) Point
R) Principal
S) Term loan
T) UFMIP
Correct Answer:

Verified
Correct Answer:
Verified
Q24: Since the VA is guaranteeing the loan,
Q25: A loan that requires only interest payments
Q26: The homeowner has made regular mortgage payments
Q27: Choose the most appropriate answer for each.<br>-an
Q28: A mortgage in which the lender collects
Q30: Under section 203(b), the FHA<br>A) insures lenders
Q31: A certificate of reasonable value is issued
Q32: A single woman applied for a FHA
Q33: Who normally pays the discount points when
Q34: Choose the most appropriate answer for each.<br>-balance