Under today’s rules an FHA borrower must pay an up-front insurance premium and an annual premium....
Under today’s rules an FHA borrower must pay an up-front insurance premium and an annual premium.
true
false
Homework Answers
Under today’s rules an FHA borrower must pay an up-front insurance premium and an annual premium.This statement is TRUE as All FHA loans require the borrower to pay two insurance premiums -
A.Upfront Mortgage Premium- It is like a down payment
B.Annual Mortgage Premium- it is annual installments.
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Under today’s rules an FHA borrower must pay an up-front
insurance premium and an annual premium....
The FHA requires that a self-employed borrower must have been self-employed for at least two years....
The FHA requires that a self-employed borrower must have been self-employed for at least two years. Question 16 options: 1) True 2) False Question 17 (2 points) An individual other than the borrower that assures the payment of a note is a: Question 17 options: 1) dispensator 2) executor 3) vindicator 4) guarantor Question 18 (2 points) Under the current rules, the FHA annual insurance premium must be paid for the entire life of the loan regardless of the down...
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is...
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is $210,000 and the average balance in the first year is $208,711. Given the following information on a 30-year fixed-payment, fully-amortizing loan, determine the total monthly loan payment: Interest rate: 6%; Annual premium for mortgage insurance (paid monthly): 0.85%. (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)
A premium is the amount of money an individual needs to pay out-of-pocket under their health...
A premium is the amount of money an individual needs to pay out-of-pocket under their health insurance plan. True False
What must a borrower pay each year on an $18,000,000 loan at 10% annual interest if...
What must a borrower pay each year on an $18,000,000 loan at 10% annual interest if the loan is to be amortized over 25 years?
1.The amount that a borrower must pay back to the bondholders on the maturity date is...
1.The amount that a borrower must pay back to the bondholders on the maturity date is the: A.principal. B.interest. C.stated value. D.market value. 2.If the market rate of interest is greater than the bond's stated rate of interest, the bond will be issued at: A.a discount. B.maturity value. C.par. D.a premium. 3.If the market rate of interest is less than the bond's stated rate of interest, the bond will be issued at: A.a premium. B.maturity value. C.a discount. D.par.
In a discount interest loan, you pay the interest payment up front. For example, if a...
In a discount interest loan, you pay the interest payment up
front. For example, if a 1-year loan is stated as $50,000 and the
interest rate is 7.50%, the borrower “pays” 0.0750 × $50,000 =
$3,750 immediately, thereby receiving net funds of $46,250 and
repaying $50,000 in a year.
a. What is the effective interest rate on this
loan? (Do not round intermediate calculations. Enter your
answer as a percent rounded to 2 decimal places.)
b. What is the effective...
QUESTION 1 While health care providers must follow HIPPA rules, health insurance companies are not responsible...
QUESTION 1 While health care providers must follow HIPPA rules, health insurance companies are not responsible for protecting patient information. True False O points Saved
The method based on the premise that transaction prices of similar properties in the neighborhood are...
The method based on the premise that transaction prices of similar properties in the neighborhood are good indicators of value is: Question 11 options: 1) the market approach 2) the income approach 3) the cost approach 4) the prices approach Question 12 (2 points) A promissory note should be: Question 12 options: 1) sold without the mortgage transferred with it 2) sold with the mortgage transferred with it 3) not sold 4) insured against default Question 13 (2 points) With...
Many people chose not to buy insurance, but rather to pay the premium. Can we expect...
Many people chose not to buy insurance, but rather to pay the premium. Can we expect impoverished people to give up money in penalties when they do not have money to buy insurance?
Suppose a company charges an annual premium of $450 for a fire insurance policy. In case...
Suppose a company charges an annual premium of $450 for a fire insurance policy. In case of a fire claim, the company will pay out an average of $100,000. Based on actuarial studies, it determines that the probability of a fire claim in a year is 0.004. What is the expected annual profit of a fire insurance policy for the company? What annual profit can the company expect if it issues 1000 policies?
In a discount interest loan, you pay the interest payment up
front. For example, if a 1-year loan is stated as $50,000 and the
interest rate is 7.50%, the borrower “pays” 0.0750 × $50,000 =
$3,750 immediately, thereby receiving net funds of $46,250 and
repaying $50,000 in a year.
a. What is the effective interest rate on this
loan? (Do not round intermediate calculations. Enter your
answer as a percent rounded to 2 decimal places.)
b. What is the effective...
QUESTION 1 While health care providers must follow HIPPA rules, health insurance companies are not responsible for protecting patient information. True False O points Saved
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