Real Estate Financing Concepts

The video tutorial covers various real estate topics, including non-conforming loans, mortgage associations like Fannie Mae and Ginny May, and financial concepts such as repayment plans and ownership types. It also explains interest rate indices and market transactions, providing a comprehensive overview of key real estate principles.

What is the term for a loan amount exceeding $417,000?

• FHA loan

• Conforming loan

• Non-conforming loan

• Government loan

Which organization provides funds for FHA and VA loans?

• Private lenders

• Ginny May

• Freddie Mac

• Fannie Mae

Who owns Ginny May?

• Private stockholders

• None of these

• No one, it is a non-profit

• The government

What is Fannie Mae also known as?

• Ginny May

• Freddie May

• Freddie Mac

• Federal National Mortgage Association

What is the largest supplier of home mortgage funds in the United States?

• Ginny May

• Private lenders

• Freddie Mac

• Fannie Mae

What is the process of paying off one loan with the proceeds from a new loan using the same property as security called?

• Refinance transaction

• Loophole transaction

• Resettlement transaction

• Re-double transaction

What type of deed transfers without warranty whatever interest or title a grantor may have?

• Special Warranty Deed

• Trust Deed

• Warranty Deed

• Quick Claim Deed

What does PITI stand for in mortgage payments?

• Property, Income, Taxes, and Insurance

• Principal, Income, Taxes, and Insurance

• Prime, Income, Tenement, and Insurance

• Principal, Interest, Taxes, and Insurance

What is an index used to determine interest rate changes for certain adjustable rate loans called?

• Adjustable Index

• Rate Index

• Treasury Index

• Interest Index

What is a written justification of the price paid for a property based on an analysis of comparable sales called?

• A comp

• An appraisal

• A similar analysis

• Neighborhood investigation