Principal repayment Study guides, Class notes & Summaries

OKLAHOMA REAL ESTATE EXAM PREP LATEST UPDATE GRADED A+ WHAT TYPE OF CONTRACT IS A REAL ESTATE OPTION CONTRACT? UNILATERAL CONTRACT DURING AN APPRAISAL OF A RESIDENTIAL PROPERTY AN APPRAISER ESTIMATES THE COST OF REBUILDING THE SUBJECT PROPERTY SO THAT IT IS IDENTICAL TO ITS CURRENT SIZE AND CONDITION IS AN EXAMPLE OF WHAT TYPE OF APPRAISAL PRINCIPLE? SUBSTITUTION ACCORDING TO THE STATUTE OF FRAUDS IN ORDER FOR A REAL ESTATE SALES CONTRACT TO BE ENFORCEABLE IN COURT THEY MUST BE ...

UGBA 10 - Module 1Secured Loan (Asset-Backed Loan) - correct answer Loan to finance an asset, backed by the borrower pledging the asset as collateral to the lender Collateral - correct answer Asset pledged for the fulfillment of repaying a loan Loan Principal - correct answer Amount of money that is loaned and must be repaid Interest - correct answer Fee paid to a lender for the use of borrowed funds Annual Percentage Rate (APR) - correct answer One-year rate that is charged for the ...

Principles of Real Estate 2 Exam With 100% Correct Answers Profit: - answerA financial gain. Making more money selling a product than was spent buying or producing the product. Loss: - answerA financial loss — Making less money selling a product than was spent buying or producing the product. Interest: - answerMoney repaid regularly at a specified rate as compensation for money lent. Principal: - answerThe amount lent to a borrower to purchase a house — the borrower pays the lender i...

Mortgage Professionals Canada Exam Latest Update Graded A+ Mortgage a legal method by which a borrower can pledge property to the lender as security for a debt Where does today's mortgage industry trace its origin from? England -power of royalty and lords diminished due to development of middle class -loans secured by the right of ownership of the land became common -Here, the seller of the land supplied the credit to the purchaser Where does the term "mortgage" originate from? French words...

Consumer - A person or organization that uses a product or service Credit - The granting of a loan and the creation of debt; any form of deferred payment Debt - An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest Economy - A system by which goods and services are produced and distributed Financial Literacy - The knowledge and skillset necessary to be an inf...

Champions School of Real Estate - Real Estate Finance Latest Update Rated A+ A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) Non- Conforming Loan VA Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required lump sum payments. Release Clause ...

H & R Block Final Exam Review (New 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Graded A QUESTION Which of these would be fully deductible in 2022 on Schedule A (Form 1040), Itemized Deductions? a) Investment interest expense of $800 with investment income of $900. b) Investment interest expense of $1,200 with investment income of $1,100. c) Investment interest expense of $1,900 with $1,350 in investment income. d) Investment interest expense of $1,400 with i...

A loan whose payments do not fully liquidate the loan and thus requires a large final payment, is known as 1. Partially amortized loan 2. Term loan 3. Growing equity mortgage 4. Graduated payment mortgage correct answers 1. Partially amortized loan - Repays partially, the part of the loan that hasn't been repaid yet is called a balloon payment Graduated/Growing - accelerate repayment of their fixed-rate mortgage by scheduling additional principal payments that increase over time Re...

Champions Real Estate Finance Latest Version Graded A+ Loan-to-Value Ratio (LTV) The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage Covers more than one piece of property. Wraparound ...

Dave Ramsey- Chapter 1 Question and Answers Rated A+ What is personal finance? All of the decisions and activities of an individual or family regarding their money; including spending, saving, budgeting, etc. What is a loan? A debt evidenced by a "note" which specifies that principal amount, interest rate and date of repayment What is interest? A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as the percentage of the principa...