- Study guides, Class notes & Summaries

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/FHLMC) 9% (T or F) DU does not consider non-occupant income as qualifying income True (T or F) HOA dues are included in the PITI calculation. False Using the following information, answer the follow...

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15 pages

Written in 2022/2023

Grade A+

BrilliantScores

Mock Exam Review Questions with complete solution 2023 (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. - correct answer False What is the maximum seller contribution allowed for a primary residence below 75% LTV? (FNMA/FHLMC) - correct answer 9% (T or F) DU does not consider non-occupant income as qualifying income - correct answer True (T or F) HOA dues are included in the ...

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7 pages

Written in 2023/2024

Grade A+

Academia199

Xinnix Mock Exam Missed Questions With Correct Marking Scheme Chris earns $36,000 per year from his primary job. He also has a 2nd job in the same line of work earning $11.25 per hour. He is only able to work 12 hours a week on the 2nd job but has been doing so for 8 months. What is his monthly qualifying income? A tax-service fee is a non-allowable fee by FHA. True Using the information provided, answer the following FHA question: Sales Price = $137,300 Interest Rate = 6.8...

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3 pages

Written in 2025/2026

Grade A+

Brainariam

XINNIX Mock Exam Review With Questions And Answers 2023/2024 Quiz XINNIX Mock Exam Review With Questions And Answers 2023/2024 Quiz

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7 pages

Written in 2023/2024

Grade A

Nipsey

Xinnix Mock Exam Missed Questions With Correct Answers.

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3 pages

Written in 2023/2024

Grade A+

EvaTee

Mock Exam Question and answers already passed 2023 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. - correct answer Response: True Feedback: See Course 6, Lesson 1 FHA Case Numbers are tied to the property, not the borrower. - correct answer Response: True Feedback: See Course 5, Lesson 1 What is the minimum coverage required ...

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8 pages

Written in 2023/2024

Grade A+

Academia199

Xinnix Mock Exam Missed Questions and answers already passed 2023 Chris earns $36,000 per year from his primary job. He also has a 2nd job in the same line of work earning $11.25 per hour. He is only able to work 12 hours a week on the 2nd job but has been doing so for 8 months. What is his monthly qualifying income? - correct answer A tax-service fee is a non-allowable fee by FHA. - correct answer True Using the information provided, answer the following FHA question: Sales Pri...

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3 pages

Written in 2023/2024

Grade A+

Academia199

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 Course 6, Lesson 1 FHA Case Numbers are tied to the property, not the borrower. Response: True Feedback: See Course 5, Lesson 1 What is the minimum coverage required on the hazard insurance policy? ...

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16 pages

Written in 2022/2023

Grade A+

BrilliantScores

(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. - Answer- False What is the maximum seller contribution allowed for a primary residence below 75% LTV? (FNMA/FHLMC) - Answer- 9% (T or F) DU does not consider non-occupant income as qualifying income - Answer- True (T or F) HOA dues are included in the PITI calculation. - Answer- False Using the following information, answer the followi...

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6 pages

Written in 2022/2023

Grade A+

GEEKA