Financing and Settlement Exam 3 Flashcards Preview

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Flashcards in Financing and Settlement Exam 3 Deck (8)
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1

Gift loans for FHA loans can come from almost everyone except...

Seller

2

Seller must own property for ___ days selling to FHA buyer

91

3

Veteran's proof for getting VA loan =

Certificate of Eligibility

4

Negative amortized loan is probably what kind of loan

Graduated payment loan

5

Seller financing is also referred to as

purchase money financing

6

Package loan uses which types of property

personal and real

7

Lender makes installment payments on which type of loans

Reverse annuity
Construction

8

Open end loans are used for what type of loan situations

Credit card like, i.e., home equity and reverse anuuity