Mortgage Final

Welcome to your Mortgage Final Final Exam. Click "Next" to continue.

Generally, most folks make purchasing decisions based on?

What are good reasons for a mortgage broker or lender to work with Veterans? (Select all that apply)

An independent mortgage broker often works with a number of local real estate agents.

As A HTH sales agent, it is important to carefully include emotion in your statements, because people often make purchases based on their emotions.

What is an important provision to include in a VA Home Loan purchase agreement?

What are the benefits for Veterans who use the VA Home Loan? (Choose all that apply)

The VA Guarantee Home Loan cannot be used to refinance an existing mortgage.

Generally, Veterans do not use the VA Home Loan program because? (Choose all that apply)

When a Veteran is eligible for a VA Home Loan, the lender never orders an appraisal on the home to be purchased or refinanced.

What is the emotion-to-fact ratio in your pitch mean?

A Veteran was able to purchase a $275,000 house rather than a $255,000 house because his lender helped him with a VA Home Loan and he didn't need to pay mortgage insurance. If the lender earns a 1% commission on the sale, how much more did he earn by helping with the VA Loan?

If a mortgage lender approves a home loan for $300,000 with a 1.5% commission rate, how much will he or she earn in commission?

Why are Probing Questions important?

Paula is a Navy Veteran who served 3 years during the Iraq War. She is married to a  plumber who never spent any time in the military. They currently have a non-VA Loan on their home, but they want to buy a new car without taking on a new loan. Assuming Paula qualifies for a VA Loan, what should she and her husband do?

What is one of the primary qualifications a person must meet in order to get a mortgage loan?

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