GA Real Estate (154)

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Miami Dade College, Miami *

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MISC

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Finance

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Nov 24, 2024

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pdf

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GA Real Estate Practice Questions and Answers Latest Update 2023/24 (Verified Answers) The discount points charged by a lender on a federal VA or FHA loan are a percentage of the ________________ - correct answers loan amount. The Pickets are purchasing a home for $78,000 and the lender is giving them a 90% loan at 10% interest, plus a 2% loan origination fee. How much is the loan origination fee? - correct answers $1,404 The primary purpose of Truth in Lending is to _____________ - correct answers disclose the true costs of obtaining credit. Who is the largest purchaser in the secondary market? - correct answers Fannie Mae The Smiths' purchased a residence for $75,000. They made a down payment of $15,000 and agreed to assume the seller's existing mortgage, which had a current balance of $23,000. The Smiths' financed the remaining $37,000 of the purchase price by executing a second mortgage whereby the seller became a mortgagee. This type of loan is called a - correct answers Purchase money mortgage
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