Unit 13: Types of Mortgages & Sources of Financing Flashcards
1
Q
Qualifying Ratios
A
Complete
2
Q
Calculate Total Obligations Ratio
A
Complete
3
Q
Common Mortgage Types
A
Complete
4
Q
Amortized Mortgage (level-payment plan) & relationship between principal and interest
A
Complete
5
Q
Adjustable-rate mortgage (ARM)
A
Complete
6
Q
FHA Mortgage
A
Complete
7
Q
Minimum Cash Investment for FHA Loan
A
Complete
8
Q
Calculate Housing Expense Ratio & recognize current threshold for HER ______%
A
Complete
9
Q
VA Mortgage
A
Complete
10
Q
Compare features of VA Loans to FHA Loans
A
Complete
11
Q
Purpose Specific Mortgage Products
A
Complete
12
Q
Partially-amortized mortgage
A
Complete
13
Q
A partially amortized mortgage is also known as
A
Complete
14
Q
Secondary Mortgage Market
A
Complete
15
Q
How does Fannie Mae participate in the secondary mortgage market?
A
Complete
