The Real Estate Lending Process

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is TRUE of the difference between pre-approval and pre-qualification for a mortgage loan?

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1. Who is responsible for collecting information such as a survey, appraisal, and flood certification during the real estate lending process?

2. Which of the following factors directly influences a debt-to-income ratio of a real estate borrower?

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About This Quiz & Worksheet

How does the real estate loan process work? Gauge your knowledge of this process and the debt-to-income ratio of a real estate borrower by using the quiz and worksheet.

Quiz & Worksheet Goals

Take the multiple-choice quiz to check your knowledge of:

  • How credit score influences a mortgage
  • Name for the real estate professional who shops the borrower's application around to find a good rate
  • Who collects information such as a survey during the real estate lending process
  • The difference between pre-approval and pre-qualification for a mortgage loan
  • Factor that influences a debt-to-income ratio of a real estate borrower

Skills Practiced

  • Information recall - access the knowledge you have gained about the influence of credit scores on a mortgage
  • Reading comprehension - ensure that you draw the most important information from the lesson on real estate loans
  • Knowledge application - use your knowledge to answer questions about professionals involved in the real estate loan process

Additional Learning

Work through the lesson titled The Real Estate Lending Process to keep learning. Some goals you'll get to complete include:

  • Determine what pre-approval involves
  • Review the role of a lender
  • See the process by which real estate loans are acquired
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