1. What is SMART-BUY MORTGAGE?
    1. The effective mortgage proposal only tailored to the specific borrower based on his or her unique social and financial background.
    2. Avoid of unnecessary waste of money and resource by choosing an unfit program.
    3. Stress-Free process handled by the most experienced certified Mortgage Loan Originator (MLO)
    4. All of the above
  1. What are the benefits of maximizing a mortgage loan vs. cash purchase?
    1. Income tax benefit with mortgage interest write-off
    2. Minimize the down payment to increase the purchase power
    3. Loss prevention when encountering economic downfall
    4. All of the above
  1. What are the underwriting criteria that lender is considering on my loan application?
    1. Average monthly income and job stability for the past two years
    2. Sufficient assets for down payment, closing cost and 6-month reserves
    3. Satisfactory credit scores from three major credit bureaus
    4. All of the above
  1. On different loan programs such as 30-yr or 15-yr fixed loans, how many different interest rate options usually offered by a lender, with different level of the points and fees charged?
    1. Only one option.
    2. Two to four options
    3. Six to eight options
    4. Ten or more options to choose from.
  1. On a $100,000 loan amount on a 30-year amortization, how much is the approximate monthly payment increase if interest rate is higher by 0.125%?
    1. $72
    2. $48
    3. $25
    4. $8
  1. In southern California, what is the average length of home ownership, before sold or transferred title to others?
    1. 30-Year
    2. 20-Year
    3. 15-Year
    4. 7-Year
  1. In Southern California, what is the average life of a mortgage loan before it is refinanced, or paid-off due to property sold to others?
    1. 30-Year
    2. 15-Year
    3. 7-Year
    4. 3-Year
  1. What will be the main factor of a property value appreciation?
    1. Good rental income
    2. Lower maintenance cost
    3. Improvement construction
    4. High demand on the real estate market
  1. What are the compensating factors of choosing a zero point and/or zero fees loan with a higher interest rate offered by the lender?
    1. How long you plan on keeping the property
    2. How soon you plan on refinancing
    3. Job relocation or resizing your family by selling
    4. All of the above
  1. What are the benefits of transactions under SMART-BUY COMBO program?
    1. Stress-free packaging with both real estate purchase and mortgage loan application services by one team
    2. Worry-free loan approval with SMART-BUY PRE-QUAL has been performed
    3. Additional Lifetime Client Care system provided by Allstar Brokers Network.
    4. All of the above