Housing Review

Which of the following does not determine the type of home loan a person qualifies for?

• Military Status

• Income-to-debt ratio

• Family Size

• Credit Score

A house payment can be up to ____% of a person's monthy gross income to qualify for a loan.

• 20

• 25

• 30

• 10

With a conventional loan, a person is required to pay private mortgage insurance (PMI) until the loan to value (LTV) is at least _____%?

• 5

• 25

• 50

• 80

Which of the following would not fall under the "Property and Parties" portion of a real estate contract?

• Price

• Title Company

• HOA

• Seller

In a seller's market, a buyer will probably have to buy a house "as is".

• True

• False