- Study guides, Class notes & Summaries

Whould you need tax returns from a borrower who is paid in the following manner? Total yearly income (base + commissions)=$50,000;commission varies each year. - CORRECT ANSWER-yes What are the two documents all retired veterans should bring to application? - CORRECT ANSWER-COE and DD214? At what rate does your borrower qualify on an FHA 30 year fixed, 2/1 buy-down with a note rate of 7.5% and a start rate of 5.5%? - CORRECT ANSWER-7.5% If income is non-taxable, we would consider allowing ...

XINNIX Flight School Study Cards Verified Questions And Answers XINNIX Flight School Study Cards Verified Questions And Answers

T or F - You are required to disclose why a loan was declined, if applicable, to the lender you are transferring a loan package to for all FHA and VA Loans CORRECT ANSWER True What following repairs are allowed under the FHA 203(K) Standard Program CORRECT ANSWER - Those allowed by 203(K) limited - converting a 1-family to a 2, 3, 4 family structure. - decreasing an existing multi-unit structure to a one to four family structure - Reconstructing a structure that has been or will be demoli...