Xinnix Ground School Exam 2025
Questions and Answers
first-time homebuyer - --Answer --Someone who has never owned a home
Move-up homebuyer - --Answer --Currently owns, or has previously owned
a home and is looking to move up in price, location, size, etc.
Relocation Homebuyer - --Answer --Purchasing a new home in a different
city or state due to job transfer or personal desire
Affluent homebuyer - --Answer --Well seasoned in home buying process.
Knowledgeable, financially savvy, busy.
Empty-nester homebuyer - --Answer --Experienced homebuyers looking to
downsize due to age and no dependent children.
Investor homebuyer - --Answer --Well seasoned and knowledgeable about
mortgage process. Rate sensitive, smarter, potentially impatient and time sensitive.
Looking to close as quickly as possible.
End lender in mortgage banking - --Answer --correspondent lender
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, End lender in mortgage brokering - --Answer --wholesale lender
Correspondent lenders - --Answer --purchase closed loans from banks and
mortgage bankers. Warehouse line of credit.
Wholesale lenders - --Answer --Table fund at closing. All closing docs in
name of wholesale lender.
Fannie Mae (FNMA) - --Answer --Federal National Mortgage Association
Freddie Mac (FHLMC) - --Answer --Federal Home Loan Mortgage
Corporation
FHA - --Answer --Federal Housing Administration
VA - --Answer --Veteran's Administration
Non-agency loans - --Answer --Comprise any loans not made by the 4
lending agencies
Conforming loans - --Answer --Any agency loan
Jumbo loan - --Answer --Any conventional loan that is in excess of the loan
limits set by Fannie Mae and Freddie Mac. All jumbo loans are, by definition,
nonconforming; the reverse, however, is not true.
Conventional - --Answer --A loan NOT insured by FHA or VA
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
Questions and Answers
first-time homebuyer - --Answer --Someone who has never owned a home
Move-up homebuyer - --Answer --Currently owns, or has previously owned
a home and is looking to move up in price, location, size, etc.
Relocation Homebuyer - --Answer --Purchasing a new home in a different
city or state due to job transfer or personal desire
Affluent homebuyer - --Answer --Well seasoned in home buying process.
Knowledgeable, financially savvy, busy.
Empty-nester homebuyer - --Answer --Experienced homebuyers looking to
downsize due to age and no dependent children.
Investor homebuyer - --Answer --Well seasoned and knowledgeable about
mortgage process. Rate sensitive, smarter, potentially impatient and time sensitive.
Looking to close as quickly as possible.
End lender in mortgage banking - --Answer --correspondent lender
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, End lender in mortgage brokering - --Answer --wholesale lender
Correspondent lenders - --Answer --purchase closed loans from banks and
mortgage bankers. Warehouse line of credit.
Wholesale lenders - --Answer --Table fund at closing. All closing docs in
name of wholesale lender.
Fannie Mae (FNMA) - --Answer --Federal National Mortgage Association
Freddie Mac (FHLMC) - --Answer --Federal Home Loan Mortgage
Corporation
FHA - --Answer --Federal Housing Administration
VA - --Answer --Veteran's Administration
Non-agency loans - --Answer --Comprise any loans not made by the 4
lending agencies
Conforming loans - --Answer --Any agency loan
Jumbo loan - --Answer --Any conventional loan that is in excess of the loan
limits set by Fannie Mae and Freddie Mac. All jumbo loans are, by definition,
nonconforming; the reverse, however, is not true.
Conventional - --Answer --A loan NOT insured by FHA or VA
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
