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WorksheetsKeller Williams Review
Total questions: 10
Worksheet time: 5mins
What is the minimum down payment amount for first time home buyers for a conventional loan?
3%
20%
5%
3.5%
What is PMI?
Personal Mortgage Identifier
Private Mortgage Insurance
Primary Money Investor
Principal minus Interest
What is the minimum down payment amount for first time home buyers for an FHA loan?
3%
20%
5%
3.5%
True or False: If a client puts down 10% for a conventional loan, they still have to pay PMI.
True.
False
What is the maximum seller concessions for a conventional loan with 5% down payment?
3%
4%
5%
6%
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
True or False: Mortgages typically need 30-45 days to close.
True
False
Which of the following has a large effect on the client's interest rates?
FICO Score
Income
Employment History
Property Zip Code
True or False: DTI is calculated by using net monthly income.
True
False
Should the Chicago Bears move to Arlington Heights?
Yes
Yes
No
