XINNIX BUNDLED EXAMS QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS

Xinnix Ground School Questions and Answers 100% Verified Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. False YTD paystubs will be requires from a borrower that ...

Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False A 3-Year ARM adjusts every 3 year...

Xinnix Ground School Questions and Answers Already Graded A first-time homebuyer Someone who has never owned a home Move-up homebuyer Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. Relocation Homebuyer Purchasing a new home in a different ci...

Xinnix Ground Course Final Questions and Answers Rated A A veteran has the ability to transfer a portion of their entitlement to another veteran. False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of the...

Xinnix SOAR Mock Exam Questions and Answers Already Graded A A fixed-rate second mortgage has the loan amount fully disbursed at closing. Monthly payments are amortized over the term of the loan. Once the balance is paid off the mortgage is closed. True A veteran may exchange a portion of their en...

nnix SOAR Final Questions and Answers Already Passed FNMA and FHLMC are what type of loan? conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies true conventional loans are not insured b...

Xinnix Mock Exam Questions and Answers with Verified Solutions Residual income is the amount of income available for family support after taxes and social security expense have been subtracted from the gross income and after PITI and other long-term debt has been paid. Response: True Feedback: See ...

Mock Exam Review Questions and Answers Graded A (T or F): If a borrower tells you about a liability that is not listed on the credit report, it doesn't need to be included on the loan application. False What is the maximum seller contribution allowed for a primary residence below 75% LTV? (FNMA/F...

TEST: Understanding Niche Products Questions and Answers Repairs/renovations can begin AFTER the renovation loan closes. ANSWER: True On a renovation loan, the LTV is based on the after-improved value of the home. ANSWER: True On a FHA 203(k) Limited only structural repairs are allowed. ANSWER: Fa...