When a buyer goes in to apply for a loan on a new first mortgage, what must the lender give to the buyer? Glossary Terms Mortgage, ANSWERS EXPLANATION O A> The broker's commission amount O B> An estimate of the buyer's closing costs O C> An estimate of the seller's closing costs O D> A three day right of rescission document on the buyer's loan

Q: WHATS THE CORRECT ANSWER - MORTGAGE CHOICE B AND C - MORTGAGE CHOICE C AND D

A: The objective of the question is to identify the mortgage choices that are not properly priced. This…

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Q: If a mortgage is the price of a mortgage, can you explain the rise in mortgage prices using basic…

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Q: Explain at least two benefits of using a real estate broker.

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is a balloon mortgage? O A mortgage in which a large portion of the borrowed principal is…

A: Balloon mortgage is a type of mortgage in which periodic payments are low. A balloon mortgage does…

Q: A lender requires 1.20 debt coverage ratio as a minimum. If the net operating income of a property…

A: The debt coverage ratio is the net operating income divided by the amount of debt service.

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A: There are various mortgage fees levied

Q: 50. A buyer will settle on a property on October 15. The buyar is assuning the seller's mortgage at…

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Q: Discuss the basics of loan amortization and develop a loan amortization schedulethat you might use…

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Q: Ann, Bob, Chris and Dave apply for the same loan amount. Assuming that the only three factors that…

A: Loan to value ratio is computed by dividing the loan or borrowing amount with the appraised value of…

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Q: Illustration the mortgage for future advances?

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Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.