The Affordability Ratios Used to Qualify Applicants for FHA and VA

question 196

True/False

The affordability ratios used to qualify applicants for FHA and VA loans are more stringent than those used for conventional loans.

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Definitions:

Neolin

A Native American religious prophet who, by preaching pan-Indian unity and rejection of European technology and commerce, helped inspire Pontiac’s Rebellion.

Barbary Wars

The first wars fought by the United States, and the nation’s first encounter with the Islamic world. The wars were fought from 1801 to 1805 against plundering pirates off the Mediterranean coast of Africa after President Thomas Jefferson’s refusal to pay them tribute to protect American ships.

Federalist Party

A political party in the early United States that advocated for a strong federal government, a commercial economy, and close relations with Britain.