A homebuyer recently obtained a loan to purchase a house. The lender offered a lower interest rate because the loan is secured. Why would a real estate loan be considered a secure loan? O The loan is backed by the property itself. If the borrower defaults on the loan, the lender can sell the property to get their money back. Most home loans are long-term loans, which are considered low-risk from the lender's perspective. All real estate loans are considered unsecure. In order to qualify for a home loan, the borrower must have good credit. Good credit is a form of security for the lender. A homebuyer needs to obtain a home loan to close on a house. Who should the homebuyer contact to get the best loan terms? A mortgage broker since a broker can work with multiple lenders at once. A large commercial bank since these banks can obtain money at a cheaper rate. A hard money lender since they can create a custom loan package for the homebuyer. The seller of the property since the seller can offer a purchase money mortgage with flexible loan terms. Mary is trying to qualify for a home loan but her lender tells her that her debt-to-income ratio is too high for FHA standards. What can Mary do to qualify for an FHA loan? O Take out an equity line of credit to pay for the down payment. Pay off one or more of her existing loans, such as a car loan or credit card debt. Decrease her credit score. Transfer some of her existing debt to one or more credit cards. Lucy is working with a lender to obtain a home loan. The lender gives Lucy a quote of 4.5% with a monthly payment of $1,256. Lucy would like to decrease the monthly payment. How can Lucy go about reducing her monthly home loan payment? Lucy can pay a loan origination fee after the loan closes. Lucy can purchase count points upfront to reduce the interest rate on the loan. Lucy can purchase discount points upfront to increase the interest rate on the loan. Lucy can negotiate for a higher interest rate. 0000 0000 000 A homebuyer recently obtained a loan to purchase a house. The lender offered a lower interest rate because the loan is secured. Why would a real estate loan be considered a secure loan? O The loan is backed by the property itself. If the borrower defaults on the loan, the lender can sell the property to get their money back. Most home loans are long-term loans, which are considered low-risk from the lender's perspective. All real estate loans are considered unsecure. In order to qualify for a home loan, the borrower must have good credit. Good credit is a form of security for the lender. A homebuyer needs to obtain a home loan to close on a house. Who should the homebuyer contact to get the best loan terms? A mortgage broker since a broker can work with multiple lenders at once. A large commercial bank since these banks can obtain money at a cheaper rate. A hard money lender since they can create a custom loan package for the homebuyer. The seller of the property since the seller can offer a purchase money mortgage with flexible loan terms. Mary is trying to qualify for a home loan but her lender tells her that her debt-to-income ratio is too high for FHA standards. What can Mary do to qualify for an FHA loan? O Take out an equity line of credit to pay for the down payment. Pay off one or more of her existing loans, such as a car loan or credit card debt. Decrease her credit score. Transfer some of her existing debt to one or more credit cards. Lucy is working with a lender to obtain a home loan. The lender gives Lucy a quote of 4.5% with a monthly payment of $1,256. Lucy would like to decrease the monthly payment. How can Lucy go about reducing her monthly home loan payment? Lucy can pay a loan origination fee after the loan closes. Lucy can purchase count points upfront to reduce the interest rate on the loan. Lucy can purchase discount points upfront to increase the interest rate on the loan. Lucy can negotiate for a higher interest rate. 0000 0000 000
