Usually, the Borrower of a FHA Loan Is Also Responsible

question 74

Multiple Choice

Usually, the borrower of a FHA loan is also responsible for the

• A) mortgage insurance premium.
• B) funding fees.
• C) private mortgage insurance.
• D) estoppel certificate.

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Definitions:

Cost Of Goods Sold

Direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Current Ratio

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, by comparing current assets to current liabilities.

Balance Sheet

A document highlighting the assets, liabilities, and equity of shareholders of a firm on a given date, illustrating the company's financial health.

Sales On Account

Revenue generated from customers who purchase goods or services on credit, to be paid at a later date.