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House Approval Practice

Authored by Matt Labick

Other

11th Grade

Used 3+ times

House Approval Practice
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10 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 90% of the property value

-The property appraises for $478,145.

-You receive approval for a loan of $_________.

$431,254.36

$430,330.50

$473,452.21

$144,654.56

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 88% of the property value

-The property appraises for $428,113.

-You receive approval for a loan of $_________.

$331,254.36

$376,739.44

$373,452.21

$344,654.56

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 85% of the property value

-The property appraises for $228,113.

-You receive approval for a loan of $_________.

$131,254.36

$176,739.44

$193,896.05

$144,654.56

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 82% of the property value

-The property appraises for $528,993.

-You receive approval for a loan of $_________.

$431,254.36

$476,739.44

$493,896.05

$433,774.26

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 82% of the property value

-The property appraises for $528,993.

-You receive approval for a loan of $_________.

How much will you have to cover on your own?

$95,218.74

$76,739.44

$93,896.05

$33,774.26

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 90% of the property value

-The property appraises for $428,892.

-You receive approval for a loan of $_________.

How much will you have to cover on your own?

$42,889.20

$46,739.44

$43,896.05

$43,774.26

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

-Lender is willing to lend up to 89% of the property value

-The property appraises for $328,124.

-You receive approval for a loan of $_________.

How much will you have to cover on your own?

$32,889.20

$36,739.44

$36,093.64

$33,774.26

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