Question 6 of 120

What is the loan amount on the purchase price of $249,955.00 if the borrower is putting 18% down?
Answer

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The suggested answer is C.

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Question 7 of 120

For an FHA loan, which of the following payments must a borrower make to protect a lender in case of a foreclosure?
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The suggested answer is C.

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Question 8 of 120

A licensed mortgage loan originator (MLO) sharing his commission with another licensed MLO at his company for actual services performed on a loan is considered which of the following terms?
Answer

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The suggested answer is B.

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Question 9 of 120

Non-qualified mortgages offer more options for borrowers who:
Answer

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The suggested answer is B.

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Question 10 of 120

Under which of the following programs is a creditor required to provide disclosures to the consumer that fully describe each of the creditor's variable-rate loan programs in which the consumer expresses an interest?
Answer

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The suggested answer is A.

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