Web(FNMA/FHLMC) Response: 6% Feedback: See Course 4, Lesson 1. What is the maximum seller contribution allowed for an investment property at 80% LTV? (FNMA/FHLMC) ... Trailing spouse income can be used for qualifying purposes. Response: False Feedback: See Course 4, Lesson 4. FNMA and FHLMC are fully backed by the U.S. Government. WebNow, Fannie Mae will not count the income. Freddie Mac will count trailing spouse income under stricter guidelines: Income cannot exceed 33% of the total qualifying …
Xinnix Final Flashcards Quizlet
WebMar 1, 2024 · March 1, 2024 - The March Selling Guide update introduces, as part of valuation modernization, our transition to a range of options to establish a property’s market value, with the option matching the risk of the collateral and loan transaction; provides additional guidance on the use of sweat equity and nonprofit program providers; revises … WebThe required documentation to verify income disclosed by the Borrower(s) on Form 710, Mortgage Assistance Application, and the corresponding methods to calculate the income from each type are provided in this exhibit. Servicers must refer to Section 9202.3 for instructions on processing IRS Form 4506-C, if applicable, based on inatek barcode scanner user manual
Xinnix Ground School Flashcards Quizlet
WebTrailing spouse income can be used for qualifying purposes. False The following are types of renovation mortgages FNMA Homestyle and FHA 203 (K) The maximum LTV for a 1 … WebNo housing ratio. 41% total Debt to income ratio (includes child care) What are the two types of VA Refinances? 1) Interest Rate Reduction Refinance Loans (IRRRL) 2) Cash-Out Refinances Acceleration Clause A provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed. WebStudy with Quizlet and memorize flashcards containing terms like A veteran has the ability to transfer a portion of their entitlement to another veteran., 1. Gross rent may be … inches in 8ft