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Questions:
1. The two main federal government loan programs are the FHA (Federal Housing Administration) and the VA (Department of Veteran Affairs). Simply answer if the following two statement(s) are True or False:
Question A, True or False: Neither the FHA nor VA makes loans directly to the borrowing public. Through approved lenders, the FHA insures the loan(s) and the VA guarantees the loans ? Question B, True or False: The FHA and VA participate in the secondary market, meaning they sell loans to generate more money to lend ? So for Question 1, you will simply have two (2) True or False responses.
2. The lecture notes and PowerPoint for this module 2 lists seven (7) FHA loan requirements that distinguishes it from conventional loans. Name these seven (7) requirements of an FHA loan.
3. Name and briefly describe the three (3) FHA loan programs, hint: they are numbered.
4. The lecture notes lists six (6) VA loan characteristics, please name these VA loan characteristics.
5. Can a non-Veteran qualify for a VA loan (Yes or No)? Hint: the spouse of a deceased active duty service member can qualify for a VA loan, did you know you have a nice teacher. Can a non-Veteran assume a VA loan (Yes or No)? Is mortgage insurance required on a VA loan (Yes or No) ? Can a borrower get a VA loan with zero (0) percent down payment (Yes or No)?
Please number your responses to match the questions.
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NB: We do not sell prewritten papers. All essays are written from scratch according to are specific needs and instructions
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