Mortgages
A preliminary evaluation of a potential borrower by a lender to determine how much the lender will loan them is a...
Preapproval
A loan guaranteed by the government and available to the military, active and retired, and even for some eligible spouses
VA Loan
What does FHA stand for?
Federal Housing Authority
What time of year is typically the busiest for Homebuyers and Sellers?
Spring
What year did I get my real estate license?
2016
What % down do you have to put down to not pay PMI?
20%
The investment a homeowner has in their home
Equity
What is PMI?
The Seller
What is the name of my direct partner on our team? *hint: you met her a month ago*
Sarah
What type of loan will you pay PMI on for the life of the loan?
FHA
The initial funds that a buyer is asked to put down once a seller accepts the buyer’s offer
Earnest Money (aka Good Faith Deposit)
What does PITI stand for?
Principal, Interest, Taxes and Insurance
A lead paint disclosure is required if a house was built before what year?
1978
What street is the Sharon Q office located on in Greece?
W Ridge Rd
A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as
This thing examines public records for the history of the home, including sales, purchases, and tax and other types of liens
Title Search
Comparative Market Analysis
What is the database established by cooperating real estate brokers to provide data about properties for sale
Multiple Listing Service (MLS)
How many team members are on the Sharon Q Team?
11
What is the minimum credit score needed for a Conventional loan?
620
Ratio used by lenders to determine affordability based off of their available loan programs, and allows them to estimate how much you can afford to pay monthly for a mortgage
Debt-to-Income Ratio
What is an ARM?
Adjustable Rate Mortgage
How many sq ft is an acre?
43,560 sq ft
64 million