Which of the following best defines a purchase money mortgage?
A) a mortgage providing for additional advances to the mortgagor without the necessity of writing a new mortgage
B) a single mortgage
C) a mortgage that includes chattels
D) a mortgage used to acquire a property
Correct Answer:
Verified
Q8: Private mortgage insurance (PMI):
A) makes the payments
Q15: For gross income purposes, most lenders want
Q22: For qualifying purposes, monthly housing payments include:
A)
Q23: Insurance companies are one of the major
Q24: The term impound most nearly means:
A) attachments
B)
Q25: Which organization requires a CRV appraisal before
Q26: Who does not lend their money, but
Q28: Of the following government-backed loans, which usually
Q29: When a borrower pays mortgage insurance on
Q31: Which program has the seller deed title
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