Financing and Settlement Exam 3 Flashcards
1
Q
Gift loans for FHA loans can come from almost everyone except…
A
Seller
2
Q
Seller must own property for ___ days selling to FHA buyer
A
91
3
Q
Veteran’s proof for getting VA loan =
A
Certificate of Eligibility
4
Q
Negative amortized loan is probably what kind of loan
A
Graduated payment loan
5
Q
Seller financing is also referred to as
A
purchase money financing
6
Q
Package loan uses which types of property
A
personal and real
7
Q
Lender makes installment payments on which type of loans
A
Reverse annuity
Construction
8
Q
Open end loans are used for what type of loan situations
A
Credit card like, i.e., home equity and reverse anuuity
