House Approval Practice
Authored by Matt Labick
Other
11th Grade
Used 3+ times
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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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