Utah

Missed by one question the Utah PLM exam. Going to set up a appointment for next available time at Pearson Vue.

Here is another question I do not understand

Edna is purchasing a four-unit investment property and is getting an ARM; the terms of the loan will be 3/6mo ARM with 1/1/5 CAP with a start interest rate of 4.25% and a margin of 2.25%. At the first adjustment, the index is 2.50%, at the second adjustment the index is 3.25%, and at the third, the index is 4.125%. What will the interest rate be at 18 months after the initial interest rate adjustment?

Hard money loans in Utah will go up to 75% LTV while other states is 70% LTV.

How are the housing prices and cost of living in Utah? What are the average home prices in Utah? What are home prices in Utah compared to other states in the nation? Have home prices in Utah skyrocketed like other states? Are people priced out of the housing market in Utah like they are priced out of the housing market in California? Is buying a house in Utah a good investment?

Angie Crippen of Online Learning has been very helpful in getting me the little information available with the UTAH PLM Practice Exams. I am taking the test for the sixth time tomorrow and studying for the first time with the practice exams I purchased from Mortgage Educators and the AX5 Utah Practice Test from ONLINE LEARNING. Like to thank Angie Crippen for the help in helping me in having me get the proper study practice exams for the UTAH PLM EXAM.

Utah requires 15 NMLS hours to get a mortgage loan originator license. This extra 15 hours of NMLS CE is a one-time deal besides the 20-hour NMLS CE course required for loan officers. If you want to be a manager because you have a branch office or a mortgage company, you need to take an additional 40 hours of NMLS CE course and take a state Principal Lending Manager (PLM) four-hour PLM exam. The exam is for the state of Utah DRE/DFI and is over 200 questions. The issue is getting study materials with practice exams for the Utah Principal Lending Manager license is very difficult. I had to take the 40-hour UTAH PLM course two times because the class is only good for one year. I failed the Utah Principal Lending Manager license twice and I am scheduled to take the third time on Monday July 24th, 2023. I will keep you all posted.

Great NEWS. Like to thank our National Operations Director at Gustan Cho Associates Angelica Torres for coordinating the team at Gustan Cho Associates | NEXA Mortgage to officially be an approved lender for Utah Down Payment Assistance homebuyers program. More details on the two down payment assistance homebuyer’s program coming soon.

• This discussion was modified 7 months, 1 week ago by  Gustan Cho.