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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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Void

Having no legal force or effect; null and totally ineffective.

Breach of Contract

The omission of performing any clause of an agreement, whether written or orally communicated, without a defensible legal excuse.

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The act of transferring money or other valuable consideration from one party to another as a fulfillment of a legal obligation or for the acquisition of goods or services.

Contract

A legally binding agreement between two or more parties, creating obligations that are enforceable by law.

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