FinancingCâu 70 / 120
The California Cal-Vet home loan program is unusual because the state:
a.Only insures the loan
b.Guarantees the loan through the VA
c.Purchases the property and sells it to the veteran under a land contract
d.Waives all interest
Giải thích
Under the Cal-Vet program, the California Department of Veterans Affairs buys the property and resells it to the eligible veteran, typically using a contract of sale. This gives the state a security interest in the property. Cal-Vet loans are funded through state bonds.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- In a California deed of trust, the party who holds bare legal title as security until the loan is repaid is the:
- An FHA loan is best described as a loan that is:
- A key benefit of a VA-guaranteed loan for an eligible veteran is:
- A conventional loan is one that is:
- 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:
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