NMLS 題目

An applicant for a USDA loan has a history of employment that includes 5 years of work history and then 18 months of unemployment. The applicant is now employed again. What is the minimum length of time needed at the new job to be approved?
0 Months

A borrower owns a home valued at $450,000 and owes $300,000. He wishes to obtain a Home Equity Line of Credit. The lender is allowing access up to 90% of equity. What is the maximum amount of the HELOC loan?
To calculate, the borrower can only have a total owned amount of 90% of the home's value: .90 x $450,000 = $405,000. Then subtract what's already owed: $405,000 - $300,000 = $105,000

For a conventional fixed rate mortgage loan, which of the following may cause a variation in the borrower's total home monthly payment?
For a fixed rate mortgage there is no fluctuation in the mortgage payment due to interest or principal for the life of the loan. The the total may fluctuate based on property taxes, hazard insurance or PMI.

Which of the following types of conveyance is characterized by providing absolute ownership of a property

A fee simple provides no further stipulations on the transfer.

Which of the following mortgage types are 100% government insured?

The FHA loan is the only one 100% backed by the government. The VA and USDA are partially covered and conventional is 0% covered.