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Real Estate Law 85

2019.05.15 18:03 Views : 134

Check Your Understanding Answers

  1. Which pages of the Closing Disclosure will always look the same regardless of the loan type?

    Pages 2 and 3 will always look the same, regardless of the loan type.
     
  2. What information does the Loan Terms section of Page 1 provide?

    It gives the exact figures for the loan amount, interest rate, and monthly principal and interest payment, and indicates whether any of those amounts can increase after closing.

    It also indicates whether or not there is a prepayment penalty or balloon payment with the loan, and if so, gives the specifics that apply to that feature.
     
  3. What does the Other Costs section include on Page 2 of the Closing Disclosure?
    • Taxes and other government fees
    • Prepaids
    • Initial escrow payment at closing
    • HOA fees, home warranty fees, home inspection fees, and/or real estate commission
       
  4. What is a borrower affirming by signing the Confirm Receipt section of the Closing Disclosure?

    The borrower is signing to confirm receipt of the Closing Disclosure form. Signing the document does not indicate acceptance of the loan.
No. Subject Date Views
332 Quiz 12 2019.05.15 8895
» Real Estate Law 85 2019.05.15 134
330 Real Estate Law 84 2019.05.15 134
329 Real Estate Law 83 2019.05.15 150
328 Real Estate Law 82 2019.05.15 125
327 Real Estate Law 81 2019.05.15 131
326 Real Estate Law 80 2019.05.15 122
325 Real Estate Law 79 2019.05.14 139
324 Real Estate Law 78 2019.05.14 145
323 Quiz 11 2019.05.13 7518
322 Review Chapter 11 2019.05.13 977
321 Real Estate Law 77 2019.05.13 138
320 Real Estate Law 76 2019.05.13 164
319 Real Estate Law 75 2019.05.13 160
318 Real Estate Law 74 2019.05.13 133
317 Real Estate Law 73 2019.05.13 131
316 Real Estate Law 72 2019.05.13 111
315 Real Estate Law 71 2019.05.13 120
314 Real Estate Law 70 2019.05.13 137
313 Real Estate Law 69 2019.05.13 183
312 Quiz 10 2019.05.12 8872
311 Review Chapter 10 2019.05.12 181
310 Real Estate Law 68 2019.05.12 143
309 Real Estate Law 67 2019.05.12 133
308 Real Estate Law 66 2019.05.12 114
307 Real Estate Law 65 2019.05.12 119
306 Real Estate Law 64 2019.05.12 203
305 Real Estate Law 63 2019.05.12 119
304 Real Estate Law 62 2019.05.12 205
303 Quiz 9 2019.05.11 7175