FinancingPregunta 71 de 120
A conventional loan is one that is:
a.Insured by the FHA
b.Guaranteed by the VA
c.Funded by the Cal-Vet program
d.Not insured or guaranteed by a government agency
Explicación
A conventional loan is not backed by a government insurance or guarantee program such as FHA or VA. Lenders may require private mortgage insurance if the down payment is less than 20 percent. Conventional financing is the most common type of mortgage.
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Preguntas relacionadas de este tema
- An FHA loan is best described as a loan that is:
- A key benefit of a VA-guaranteed loan for an eligible veteran is:
- The California Cal-Vet home loan program is unusual because the state:
- A borrower obtains a $300,000 loan and pays 2 discount points. The dollar amount paid in points is:
- A buyer purchases a home for $400,000 with a $320,000 loan. The loan-to-value (LTV) ratio is:
- The Real Estate Settlement Procedures Act (RESPA) primarily aims to:
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