Underwriting in Real Estate: Definition & Requirements

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 documents does an underwriter not typically require?

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1. What is the definition of an appraisal?

2. What is an advantage of an assumable mortgage?

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About This Quiz & Worksheet

Essentially, you'll be examined on subjects relevant to underwriting. Such subjects include underwriting requirements, assumable mortgages, and appraisals.

Quiz & Worksheet Goals

The particular aim is to ask you about:

  • Documents usually required by underwriters
  • What an appraisal is
  • Advantages of assumable mortgages
  • Favorable factors on a borrower's credit report

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about the underwriting process
  • Reading comprehension - ensure that you draw the most important information from the related underwriting lesson
  • Interpreting information - verify that you can review information regarding factors that affect the credit report and interpret it correctly

Additional Learning

You can continue to learn about this information with the assistance of our lesson, Underwriting in Real Estate: Definition & Requirements. This lesson discusses:

  • Underwriter verification
  • What's involved in underwriting
  • When underwriters are needed
  • How underwriters are used
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