8. Mona's Mortgage on her townhouse is coming up for renewal and she would like to refinance it. Her townhouse has an appraised value of $600,000 and an outstanding mortgage of $430,000. She would like to increase her mortgage to get the maximum amount possible, while paying the lowest interest rate. Given this scenario, which of the following statement is most correct? a) Obtain a new private, CMHC insured first mortgage at 95% LTV. b) Obtain a new institutional, CMHC insured first mortgage at 95% LTV. c) Obtain a new institutional first mortgage at 80% LTV. d) Obtain a ned institutional first mortgage at 75% LTV. 2. A Barbara Gold, a registered nurse who works for a local hospital is applying for financing to purchase a constructed high-rise condominium unit directly from the builder as her principal residence. You are underwriting her application and deciding on what documents you will asi her to provide. You will be sending this application to a bank. The following is a list of some of the documents that you may request. (1) Purchase and sale Agreement. iil MLs listing. " ii) Proof of down payment. * Wy Transfer/Deed. v) Property Tax statement. vi) Income veritication. viii) Rental letter. 4 ix) Status Certificate. Qut of the list above what documents should you obtain? a) 1,i11,v, ix b) 1 , iii, v, vill c) 1i, v, vii, viiil d) Iv, v, vil, vili 3. Suzette is a doctor and wishes to purchase a principai residence, but she wishes to do with no down payment. Based on this lenders prowam and assuming that Surette meets all of the other lenders guidelines, what statement would best refiects this scenario, which of the following statement is most correct? a) Suzette will not qualify based on this lenders program. b) Suzette must provide an NOA and guasiness ficense. c) Sutette must provide a Business license or Article of incorporation. d) Surette must provide an NoA for the last 2 years