Loan Officer Gustan Cho
Loan OfficerForum Replies Created
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Please check out these great manufactured homes. Hands down, these manufactured homes look better than stick-built homes.
https://www.youtube.com/watch?v=7kjjqBbdv2o&ab_channel=Chance%27sHomeWorld
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Nice, Mehgan.
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Scheduled the Utah PLM exam again for tomorrow morning at 8 am. When I took the test this morning it was only 60 questions. I think the Utah PLM exam will credit you the right answers and retest your only on the wrong questions . I will see tomorrow morning.
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Manufactured home for $72,000. Great buy.
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Lisa Williams is purchasing a one-unit Single-Family Home as a second home, with a sales price of $427,000 with maximum LTV on a conventional loan with a 6.5% interest rate on an ARM and is closing on Tuesday, March 10th. What is the total amount of the prepaid interest Lisa will pay at closing? Calculate based on a 365-day calendar year. &1505.61
Feedback: On Tuesday, March 10th, the loan will close and fund the same day because there is no right of recission on second homes. The maximum LTV on a second home is 90% = a loan amount of $384,300. Loan amount =$384,000 X .065 = $24,979.50 / 365 = $68.4369 X 22 days = $1,505.61 prepaid interest paid at consummation of the loan.
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The minimum amount of flood insurance coverage that is needed by the lender for a property located in a flood zone in Utah is 100% of the replacement cost of the insurable value of the improvements
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For a high-cost mortgage loan in Utah, a pre-payment penalty is not prohibited from being included in the terms and conditions of the loan agreement.mIt cannot go beyond three years.
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If I fail tomorrow, I am going to have to purchase this. This is getting serious now. Took the exam three times, and tomorrow will be my fourth attempt. Got a 62 today.
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