Question
In: Finance
What are three characteristics of a Prime/Conventional/Truly Qualified, Primary Residential Real Estate Loan?
What are three characteristics of a Prime/Conventional/Truly Qualified, Primary Residential Real Estate Loan?
Solutions
Expert Solution
The three main characteristics of a Prime/Conventional/Truly Qualified, Primary Residential Real Estate loan are ;
1. It does not allow some risky features like interest only period , baloon payment and negative amortiation.
2. Mortgage terms must be 30 years or less.
3. Total points and fees cannot exceed three percent of the loan amount . The borrowers' montly Debt to Income ratio (DTI) should be 43 percent or less and the loan must be eligible for purchase by Fannie Mae or Freddie Mac or insured by FHA / US department of Veterans Affairs / USDA regardless of DTI ratio.
jeff jeffy answered 2 years agoRelated Solutions
What are three characteristics of a Prime/Conventional/Truly Qualified, Primary Residential Real Estate Loan? In other words,...
What are three characteristics of a Prime/Conventional/Truly
Qualified, Primary Residential Real Estate Loan? In other words,
what was required for these loans to qualify the correct way?
What is a Subprime Mortgage?
Give a scenario where someone wasn’t even in the market to buy
a house, suddenly became a house owner. How did this happen?
Who was buying houses in the late 1990s through 2007? Give
three examples.
What is a Predatory Loan?
What is CRA? Explain.
What is NINA?...
What is the primary role of the real estate appraisal? What are the currently accepted four methodologies for appraising real estate?
What is the primary role of the real estate appraisal? What are the currently accepted four methodologies for appraising real estate? What role does market value and agreed contract price play in the process? (CLOS5)
An agent for a residential real estate company in a suburblocated outside a major city...
An agent for a residential real estate company in a suburb
located outside a major city has the business objective of
developing more accurate estimates of the monthly rental cost for
apartments. Toward the goal, the agent would like to use the size
of an apartment, as defined by square footage to predict the
monthly rental cost. The agent selects a sample of 8 one-bedroom
apartments and the data are shown. Complete parts (a) through
(f).\(\begin{array}{lllllllll}\text { Monthly Rent (\$)...
An agent for a residential real estate company in a large city would like to be...
An agent for a residential real estate company in a large city
would like to be able to predict the monthly rental cost of
apartments based on the size of the apartment as defined by square
footage. Data for a sample of 25 apartments in a particular
residential neighborhood was selected, and the information gathered
revealed the following table;
a. use the least squares method to find the regression
coefficient b0 and b1.
b. Interpret the meaning of b0 and...
On the following real estate mortgage loan, what is the best estimate of the effective borrowing...
On the following real estate mortgage loan, what is the best
estimate of the effective borrowing cost if the loan is prepaid in
6 years?
Loan: $100,000
Interest rate: 7 %
Term: 180 months
Up-front costs: 7 % of loan amount
Calculate Lopez’s cost recovery deduction for 2019 if the building is: a. Classified as residential rental real estate. b. Classified as nonresidential real estate.
Lopez acquired a building on June 1, 2014, for $1 million. Calculate Lopez’s cost recovery deduction for 2019 if the building is:
a. Classified as residential rental real estate.
b. Classified as nonresidential real estate.
An agent for a residential real estate company in a suburb located outside a major city...
An agent for a residential real estate company in a suburb
located outside a major city has the business objective of
developing more accurate estimates of the monthly rental cost for
apartments. Toward the goal, the agent would like to use the size
of an apartment, as defined by square footage to predict the
monthly rental cost. The agent selects a sample of 8 one-bedroom
apartments and the data are shown. Complete parts (a) through
(e).
Monthly Rent ($)
Size...
An agent for a residential real estate company in a large city has the business objective...
An agent for a residential real estate company in a large city
has the business objective of developing more accurate estimates of
the monthly rental cost for apartments. Toward that goal, the agent
would like to use the size of an apartment, as defined by square
footage to predict the monthly rental cost. The agent selects a
sample of 25 apartments in a particular residential neighborhood
and collects the following data: Size (square feet) Rent ($) 850
1950 1450 2600...
An agent for a residential real estate company in a large city has the business objective...
An agent for a residential real estate company in a large city
has the business objective of developing more accurate estimates of
the monthly rental cost for apartments. Toward that goal, the agent
would like to use the size of an apartment, as defined by square
footage to predict the monthly rental cost. The agent selects a
sample of 25 apartments in a particular residential neighborhood
and collects the following data: Size (square feet) Rent ($) 850
1950 1450 2600...
An agent for a residential real estate company in a large city has the business objective...
An agent for a residential real estate company in a large city
has the business objective of developing more accurate estimates of
the monthly rental cost for apartments. Toward that goal, the agent
would like to use the size of an apartment, as defined by square
footage to predict the monthly rental cost. The agent selects a
sample of 25 apartments in a particular residential neighborhood
and collects the following data:
Size (square feet) Rent ($)
850, 1950
1450, 2600...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Describe a time when someone did not really listen to or understand a point you were...
- Enumerations Create an advanced enumeration to represent months (JANUARY – DECEMBER) called enuMonths Add internal properties...
- What is the minimum size of the automorphism group of a simple directed graph having more...
- The birthday paradox says that the probability (chance) that two people in a room will have...
- #include <iostream> #include "lib.hpp" using namespace std; int main() { // declare the bool bool...
- Why do we compare means instead of individual scores? for comparing average SAT test scores across...
- NPV Your division is considering two projects with the following cash flows (in millions): 0...
ADVERTISEMENT