By Jordan Naffa
True & False Questions:
1.) The ratio of DSCR = Monthly NOI / Monthly Debt Service
3.) Stable monthly income (SMI) is defined as a mortgagor’s yearly income.
6.) The adjustable rate mortgage is
a. A mortgage rate that is given to an individual as a loan.
b. A variable rate or payment mortgage that adjusts to a specified index periodically.
8.) A charge of____________of the mortgage amount that is paid by the mortgagor to the mortgagee at the loan ordination.
1.) T, 2.) T, 3.) F, 4.) T, 5.) T, 6.) b, 7.) c, 8.) c