1. The borrowers First Mortgage Balance is $200,000.They are going to subordinate a HELOC that has a Current balance of $50,000 and a total Line amount of $75,000.The property appraised at $550,000.What are the HCLTV, LTV, and CLTV?

2.The borrower works variable hours.The 2019 W2 shows annual earnings of$65,000,and the 2018 W2 show annual earnings of $ 81,000.Year to date on the paystub shows they have earned $58,200 through October 15th.What pay can be justified for qualifying?

a) $6095.52

b)$5,416.67

c).$5730.23

d) Explain why:______________________________________________________________________________________________________________________________________________________

e)We drop the 2018 as the income declined after that and stayed at the at level.

6.The borrower makes $112,000 per year.Their most recent 2 months' bank statements have several deposits that are not from their payroll/employer in the amounts of $5000, $3150, $4800, and $4000.Which of these deposits would need to be sourced as a Large Deposit on a purchase transaction?(list all that apply)

Which of the following are ineligible assets for the purchase of an investment property?

a)Assets in a personal checking account

b)Proceeds from a HELOC tied to another property

c)Gift funds

d)A loan secured by a certificate of deposit

8)The borrower currently has a deferred student loan with a balance of $50,000 and a zero payment.What payment is required to be used for qualification per FNMA guidelines?

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