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Keller Williams Review

Authored by Anthony Odeh

Business

8th Grade

Used 3+ times

Keller Williams Review
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum down payment amount for first time home buyers for a conventional loan?

3%

20%

5%

3.5%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is PMI?

Personal Mortgage Identifier

Private Mortgage Insurance

Primary Money Investor

Principal minus Interest

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum down payment amount for first time home buyers for an FHA loan?

3%

20%

5%

3.5%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: If a client puts down 10% for a conventional loan, they still have to pay PMI.

True.

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum seller concessions for a conventional loan with 5% down payment?

3%

4%

5%

6%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is TRUE about mortgage brokers?

Limited to one bank's products

Ability to shop across multiple lenders

Only take loan application before sending to someone else

Works 9-5

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Mortgages typically need 30-45 days to close.

True

False

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