Episode 066 - State Exam Questions 20

Going through state exam questions to help real estate students pass their state exam.

03:30 – Mortgage factor chart; Number of thousands borrowed x mortgage factor = payment.

07:30 - $150 (number of thousands borrowed) x 9.91 (mortgage factor) = $1,486.50.

12:44 - $200 x 10.45 = $2,090.

13:48 - $129 x 7.34 = $946.86.

15:15 – What clause makes a mortgage unassumable?

18:05 – What is a piggyback mortgage and what down payment is required for an 80-10-10 mortgage?

21:50 – What is the principal in a mortgage?

25:27 – When will an agent be liable when writing a comparative market analysis (CMA) with inappropriate comparables?

27:55 – How should an agent handle a client that asks about taking title as joint tenants or tenancy by the entirety?

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