NMLS

Card Set Information

Author:
SUONGTPHUNG
ID:
28795
Filename:
NMLS
Updated:
2010-08-03 03:12:28
Tags:
MORTGAGE MATH
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Description:
NMLS MORTGAGE MATH
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  1. IF YOUR BORROWER WANTS TO PAY ONE POINT TO BUY DOWN THE RATE AND THE LOAN AMOUNT IS $145,000, HOW MUCH WILL THEY HAVE TO PAY?

    A. $14,500
    B. $2,900
    C. $2175
    D. $1,450
    D. $1,450
    (this multiple choice question has been scrambled)
  2. IN GENERAL WHAT IS THE HIGHEST FRONT END RATIO THAT CAN QUALIFY FOR A CONVENTIONAL LOAN?
    A. 28%
    B. 32%
    C. 33%
    D. 43%
    A. 28%
    (this multiple choice question has been scrambled)
  3. IN GENERAL WHAT IS THE HIGHEST BACK END RATIO THAT CAN QUALIFY FOR A CONVENTIONAL LOAN?
    A. 45%
    B. 43%
    C. 32%
    D. 36%
    D. 36%
    (this multiple choice question has been scrambled)

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