Champion Real Estate – Financing
2025/2026 Exam Questions and Answers
| 100% Solved
Hard Money Loan - 🧠ANSWER ✔✔Real estate loans made by private
lenders funded in cash, great for "flippers"
Blanket Mortgage - 🧠ANSWER ✔✔mortgage covering more than one
parcel of real estate
Package Mortgage - 🧠ANSWER ✔✔Mortgage covering both real and
personal property
Budget Mortgage - 🧠ANSWER ✔✔A mortgage with payment that covers
principal and interest, plus taxes, fire insurance, lease rent, etc.
Wraparound Mortgage - 🧠ANSWER ✔✔Method of financing which
preserves the low, existing interest rate on the original note.
,Open-End Mortgage - 🧠ANSWER ✔✔mortgage that provides possibility for
further borrowing on the same note and mortgage
Closed-End Mortgage (HELOC) - 🧠ANSWER ✔✔mortgage that has a
specific dollar amount and does not allow for additional borrowing on the
same note and mortgage - traditional
Seller Financing - 🧠ANSWER ✔✔a note accepted by a seller instead of
cash
Types of Refinancing: - 🧠ANSWER ✔✔Regular (Rate/Term) or Cash-Out
PMI - 🧠ANSWER ✔✔Private Mortgage Insurance
Private Mortgage Insurance (PMI) - 🧠ANSWER ✔✔a special policy that
protects the lender in case the buyer cannot make payments or cannot
make them on time
LTV - 🧠ANSWER ✔✔Loan-to-Value Ratio
Subprime Loans - 🧠ANSWER ✔✔loans granted to borrowers with flawed
credit histories - no longer used
predatory lending - 🧠ANSWER ✔✔Unscrupulous lender takes advantage of
a consumer's lack of knowledge regarding lending practices.
, Types of Mortgage Fraud - 🧠ANSWER ✔✔Fraud for Housing, Fraud for
profit, Criminal Purposes (money/drug laundering)
churning - 🧠ANSWER ✔✔excessive buying and selling of securities to
generate commissions
Chunking - 🧠ANSWER ✔✔fraudsters promise to show investors how to get
rich fast by buying investment properties.
Equity Theft - 🧠ANSWER ✔✔fraudsters forge a deed transfer or a
satisfaction lien, and then obtain new liens on the property.
foreclosure rescue scams - 🧠ANSWER ✔✔a homeowner is deceived into
signing over title to the property with the belief that he or she will be able to
remain in the house as a renter and eventually buy it back
Property Flipping - 🧠ANSWER ✔✔the process of buying properties,
renovating them to some degree, and reselling them with the goal of
making an inflated profit due to an inflated appraisal and mortgage loan
Straw Buyer - 🧠ANSWER ✔✔someone who agrees to use their personal
information to buy the home to conceal the actual owner
FHA, VA, USDA - 🧠ANSWER ✔✔Types of government loans
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2025/2026 Exam Questions and Answers
| 100% Solved
Hard Money Loan - 🧠ANSWER ✔✔Real estate loans made by private
lenders funded in cash, great for "flippers"
Blanket Mortgage - 🧠ANSWER ✔✔mortgage covering more than one
parcel of real estate
Package Mortgage - 🧠ANSWER ✔✔Mortgage covering both real and
personal property
Budget Mortgage - 🧠ANSWER ✔✔A mortgage with payment that covers
principal and interest, plus taxes, fire insurance, lease rent, etc.
Wraparound Mortgage - 🧠ANSWER ✔✔Method of financing which
preserves the low, existing interest rate on the original note.
,Open-End Mortgage - 🧠ANSWER ✔✔mortgage that provides possibility for
further borrowing on the same note and mortgage
Closed-End Mortgage (HELOC) - 🧠ANSWER ✔✔mortgage that has a
specific dollar amount and does not allow for additional borrowing on the
same note and mortgage - traditional
Seller Financing - 🧠ANSWER ✔✔a note accepted by a seller instead of
cash
Types of Refinancing: - 🧠ANSWER ✔✔Regular (Rate/Term) or Cash-Out
PMI - 🧠ANSWER ✔✔Private Mortgage Insurance
Private Mortgage Insurance (PMI) - 🧠ANSWER ✔✔a special policy that
protects the lender in case the buyer cannot make payments or cannot
make them on time
LTV - 🧠ANSWER ✔✔Loan-to-Value Ratio
Subprime Loans - 🧠ANSWER ✔✔loans granted to borrowers with flawed
credit histories - no longer used
predatory lending - 🧠ANSWER ✔✔Unscrupulous lender takes advantage of
a consumer's lack of knowledge regarding lending practices.
, Types of Mortgage Fraud - 🧠ANSWER ✔✔Fraud for Housing, Fraud for
profit, Criminal Purposes (money/drug laundering)
churning - 🧠ANSWER ✔✔excessive buying and selling of securities to
generate commissions
Chunking - 🧠ANSWER ✔✔fraudsters promise to show investors how to get
rich fast by buying investment properties.
Equity Theft - 🧠ANSWER ✔✔fraudsters forge a deed transfer or a
satisfaction lien, and then obtain new liens on the property.
foreclosure rescue scams - 🧠ANSWER ✔✔a homeowner is deceived into
signing over title to the property with the belief that he or she will be able to
remain in the house as a renter and eventually buy it back
Property Flipping - 🧠ANSWER ✔✔the process of buying properties,
renovating them to some degree, and reselling them with the goal of
making an inflated profit due to an inflated appraisal and mortgage loan
Straw Buyer - 🧠ANSWER ✔✔someone who agrees to use their personal
information to buy the home to conceal the actual owner
FHA, VA, USDA - 🧠ANSWER ✔✔Types of government loans
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
