The CE Shop » Sales License » CA Real Estate Finance Course » 2021

Question #1

Which of the following characteristics applies to a partnership between mortgagors?

A. It involves more than one mortgagor as owner, sharing responsibility for payment of a single mortgage.

B. It makes the lender a partner in the project as well as the financier.

C. It's designed to finance large real estate projects.

D. Each partner puts up a share of the money and receives a commensurate portion of the mortgage payments

Question #2

A refinance is always a ______.

A. Loan increase

B. Loan modification

C. Loan reduction

D. New loan

Question #3

What type of partnership is a cooperative?

A. Partnership between mortgagors

B. Partnership between mortgagees

C. Partnership between mortgagees and mortgagors

D. Limited liability partnership

Question #4

Lenders are more comfortable when borrowers have around 20% of the property's purchase price to serve as what kind of payment?

A. Co-borrower's interest

B. Down payment

C. Interest payment

D. Price deduction due to savvy negotiation skills