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

Question #1

How does the VA qualify a property for a VA-guaranteed loan?

A. Through tax-assessed value

B. Through a VA-approved inspector

C. Through a VA-approved appraiser

D. Through a database showing median home values in the area

Question #2

Chanel is buying a brand new home with a VA loan. She's obtained a certificate of reasonable value. For how long is that CRV valid?

A. Six months

B. Three months

C. One month

D. One year

Question #3

A VA loan program that allows a veteran to refinance at a lower rate and receive cash proceeds to fund other investments or purchases is ______.

A. Negative amortization conversion

B. Senior disability refinance

C. Cash Out Refinance

D. IRRC

Question #4

Your client has a VA loan and wants to refinance to a lower rate. Which of the following is likely the simplest option?

A. Obtain an adjustable rate mortgage with a low teaser rate

B. Interest rate reduction refinance

C. Convert to conventional to avoid the MIP

D. Cash out refinance program