carmen purchased a single-family residence in monterey county for $480,000 using an fha loan and fha's minimum down payment. at the same time, yancy made an offer on a single-family residence not far away in fresno county for $300,000 with fha's minimum down payment and was told he could not use an fha loan for the purchase. why?

Answers

Answer 1

Yancy was told he could not use an FHA loan for the purchase because he knows the the interest rate of FHA is very high.

What is interest rate?

Interest rate is defined as the fraction of a loan that the borrower is responsible for paying as interest; this percentage is often represented as a yearly percentage of the loan balance. Paying consistently less than the required minimum payment amount may result in increased interest rate charges appearing on your statement each month.

A percentage indicating how much of a borrower's monthly income goes toward housing costs. the borrower must contribute a minimum necessary investment from an approved source equal to 3.5% of the home's purchase price or appraised value, whichever is smaller.

Thus, Yancy was told he could not use an FHA loan for the purchase because he knows the the interest rate of FHA is very high.

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Related Questions

where in the universe did the big bang take place?

Answers

There's no exact spot that the Big Bang happened. In fact, the Big Bang happened everywhere in the Universe. The problem generally comes from the term "Big Bang". It brings to mind explosions, detonations, balloons being popped, and everything being blown out to chickenbasket hades.

Answer:

The dig dang happened everywhere in the universe

Explanation:

QUESTION 4 if Assume firm 1 but not firm 2 is contemplating making a strategic commitment. Fudenberg and Tirole call it a the tactical variables are and the commitment makes firm 1 a. lean and hungry look; strategic complements; soft O b.top-dog; strategic substitutes; soft C. fat-cat effect; strategic complements; tough d. puppy-dog ploy; strategic complements; tough

Answers

Fudenberg and Tirole call it a the tactical variables are and the commitment makes firm lean and hungry look; strategic complements; soft. The correct answer is option A.

According to Fudenberg and Tirole, when one firm makes a strategic commitment while the other does not, the firm that makes the commitment appears to have a "lean and hungry look."

This means that the firm is seen as being more aggressive and competitive because it is willing to invest in the long-term success of its strategy.

In this scenario, firm 1 is making the strategic commitment while firm 2 is not. The strategic variables are complements because the success of firm 1's strategy depends on the actions of firm 2.

Additionally, the commitment is considered soft because it is not a binding contract or agreement, and can be altered or revoked if circumstances change.

The correct answer is option A.

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Which of the following might a lender require for a construction loan? Select all that apply.

1. A car for collateral

2. A 20% down payment

3. Builder qualifications

4. Construction details

NO LINKS (I’ll get you banned if so)

Answers

2. Most lenders require a 20% minimum down payment on a construction loan.

Which element will you include to present numerical data visually on a slide? A. graph B. text C. flowchart D. audio clip

Answers

A graph represents numeric data in a visual format. Graphs make information easier to present on a PowerPoint.

The correct option A.

We can include a graph to present numerical data visually on a slide.

How do you describe a presentation in a graph?Tips and phrases for explaining graphsClearly introduce graph. Be sure to clearly introduce the title or topic at the beginning. Keep language simple. Remember, the aim is to help people understand your graph, not to make long, complex sentences. Use pointing effectively. Use hedging.

What is the purpose of plot graphs?

A plot is a graphical technique for representing a data set, usually as a graph showing the relationship between two or more variables. The plot can be drawn by hand or by a computer. In the past, sometimes mechanical or electronic plotters were used.

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a ___ organization is one that provides a service or good for the benefit of mankind​

Answers

Answer:

public

Explanation:

as they do not aim to make profit compared to public sector. They aim to increase the social welfare of the country.

Please help?? WILL MARK IF THERE ARE MULTIPLE ANSWERS!!!!!

Please help?? WILL MARK IF THERE ARE MULTIPLE ANSWERS!!!!!

Answers

High school probably

FEATURES OF FINANCIAL INSTITUTIONS​

Answers

Answer:

The financial institutions provide loans and advances to the customers. The rate of return is very high in case of investment made in this type of institution. It also gives a high rated consultancy to the customers for their beneficial investments. It also serve as a depository for their customers.

Explanation:

The financial institutions provide loans and advances to the customers. The rate of return is very high in case of investment made in this type of institution. It also gives a high rated consultancy to the customers for their beneficial investments. It also serve as a depository for their customers.

How is a credit union different from a bank?
O Acredit union offers services to companies instead of individuals.
A credit union only offers credit, it does not store money.
Acredit union is usually larger than a bank.
O A credit union is owned by its customers.

Answers

Answer:

a credit union is owned by its costumers (D)

Explanation:

i took the assignment!!

What is one way to overcome imposter syndrome?
A. Use imagination and visualization to find your natural talents.
B. Remind yourself that you worked hard for the success you
achieved.
OC. Compare yourself to those who are better than you at a specific
skill.
D. Identify with members of a group who you perceive are like you.

Answers

Overcoming imposter syndrome can be challenging, but one approach is to, remind yourself that you worked hard for the success you achieved. Option B

What is Imposter syndrome i about?

Imposter syndrome is a common phenomenon where an individual feels like a fraud, doubting their abilities and accomplishments despite evidence of their competence.

Acknowledge and give yourself credit for the hard work, effort, and skills you've acquired to achieve success. Recognize that everyone makes mistakes and experiences setbacks, but that doesn't diminish their abilities or accomplishments. Focus on your strengths and the value you bring to the table, rather than comparing yourself to others.

Over time, you can gradually build your confidence and self-esteem by continuously reminding yourself of your achievements and your ability to grow and learn.

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Whose interests should a financial manager consider paramount when making a decision? the senior management and associated colleagues at the executive level within the company the stockholders who have risked their money to become owners of the company the financial manager's own interests the employees and associated stakeholders who are employed by the company the public who consume the company's goods and services

Answers

The interests should a financial manager consider paramount when making a decision is "the stockholders who have risked their money to become owners of the company".

The financial manager in the company or an organization who manages the accounting and financial details of the company. The financial manager is also analyzed the financial data of the company.

The stockholders have benefit of a higher stock price on offer. The stockholder buys the stocks from the company. So, that the company can improve and increase their growth in the market.

That's why, the stockholders interest should a financial manager consider paramount when making a decision.

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There are several disadvantages for an organization that allows employees to work from home. One such disadvantage is

Answers

One of the disadvantage for an organization that allows employees to work from home is : It makes job performance appraisal more difficult for managers.

What is performance appraisal?

A performance appraisal is a formal procedure used to survey a representative's adequacy and efficiency and fills both regulatory and formative needs.

Officially, it helps manage basic leadership with respect to business activities, work force arranging and preparing and advancement.

Hence, a disadvantage for an organization that allows employees to work from home is, It makes job performance appraisal more difficult for managers.

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who answers the three basic economic questions in a business

Answers

Answer:

Are the following,

Explanation:

what will be produced

how will it be produced

Goods are sold on credit by the supplier to one of its customers, amounting to $20,000. The credit was granted as per the term of sale with 3/15 net 40 . Now, according to terms, a $20,000 trade credit is given to the customer for 40 days from the date of the invoice issued.
However, as per the term of sale, if the payment is made by the customer to the supplier within 15 days from the date when the invoice was issued to the customer, then the cash discount of 3% will be given to the customer.
Customer is required to make payment of:

Answers

The supplier sold goods on credit to a customer, with terms of sale at 3/15 net 40. The trade credit amount was $20,000 and the credit term was 40 days.

Goods are sold on credit by the supplier to one of its customers, amounting to $20,000. The credit was granted as per the term of sale with 3/15 net 40. Now, according to terms, a $20,000 trade credit is given to the customer for 40 days from the date of the invoice issued.

However, as per the term of sale, if the payment is made by the customer to the supplier within 15 days from the date when the invoice was issued to the customer, then the cash discount of 3% will be given to the customer.

Customer is required to make a payment of $19,400.If the customer makes payment within 15 days, a discount of 3% of $20,000 ($600) will be given.

After the discount, the customer is required to pay $20,000 - $600 = $19,400.

To calculate the discount: Trade discount = 3% × $20,000 = $600

Therefore, the amount payable by the customer is $20,000 - $600 = $19,400.

Hence, the answer is $19,400.

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The Body Shop, Sunglass Hut, Gap, and the Athlete's Foot are all examples of _____.
A. Superstores
B. specialty stores
C. off-price click only retailers off-price click only retailers
D. department stores

Answers

The Body Shop, Sunglass Hut, Gap, and the Athlete's Foot are all examples of-

B. specialty stores.

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Mr and Mrs. Franklin, ages, 30 and 29, file a joint tax return for 2022 and have no dependents. They have the following information:
Wages $165,500
Dividend income $ 2,200
Above the line deductions $ 6,250
Itemized deductions $ 22,400
Compute their adjusted gross income (AGI)and their taxable income.
a. AGI $167,700; taxable income $145,300
b. AGI $161,450; taxable income $139,050
c. AGI $161,450; taxable income $135,550
d. AGI $173,950; taxable income $148,850

Answers

The correct answer is: b. AGI $161,450; taxable income $139,050. To compute the adjusted gross income (AGI) and taxable income for Mr. and Mrs. Franklin, we need to consider the following information:

Wages: $165,500

Dividend income: $2,200

Above-the-line deductions: $6,250

Itemized deductions: $22,400

To calculate the AGI, we subtract the above-the-line deductions from the total income:

AGI = Wages + Dividend income - Above the line deductions

AGI = $165,500 + $2,200 - $6,250

AGI = $161,450

Next, to calculate the taxable income, we subtract the itemized deductions from the AGI:

Taxable income = AGI - Itemized deductions

Taxable income = $161,450 - $22,400

Taxable income = $139,050

Therefore, the correct answer is:

b. AGI $161,450; taxable income $139,050

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Which of the following goods would be included in the calculation of gross domestic product? Select the two correct answers. (1 point)
1.Steel sold to an automobile manufacturer.
2.Notebooks sold to students.
3.French fries sold to customers at a restaurant.
4.Chemicals sold to pharmaceutical developers.
5.Lumber sold to construction firms.

Answers

Considering the available options, the goods that would be included in the calculation of gross domestic product include "Notebooks sold to students."

The other good that would be included in the calculation of GDP is "French fries sold to customers at a restaurant."

What is GDP?

GDP or Gross Domestic Product as it's generally defined as the summation of consumer spending (C), business investment (I), government spending (G), and net exports.

Consumer spending is the sales of used goods and sales from inventories of goods.

Here the used goods include the Notebooks sold to students and French fries sold to customers at a restaurant.

Hence, in this case, it is concluded that the correct answer is options B and C.

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Explain one reason why a business may use social media to promote

Answers

Answer:

Social media offers many benefits to business owners, as it allows them to reach out to their customers and to gain the attention of more people/potential customers

Explanation:

What factor reflects the ‘cost of money’? The ‘cost of money’ is reflected in the

Answers

Production opportunities, time preferences for consumption, risk, inflation.

Heyy
Can someone help me please ​

Heyy Can someone help me please

Answers

I believe A ) 5.6 million

if price is below equilibrium, group of answer choices demand is too low for equilibrium. the income and substitution effects will cause the price to rise. quantity supplied exceeds quantity demanded, and a shortage exists. quantity demanded exceeds quantity supplied, and a shortage exists. demand will increase.

Answers

If the price is below equilibrium, demand is too low for equilibrium" is incorrect. This statement should be "if the price is below equilibrium, the quantity demanded exceeds quantity supplied, and a shortage exists.

"If the price is below the equilibrium level, then the quantity demanded exceeds quantity supplied, and a shortage exists. Here is what happens: When the price of a good is below the equilibrium level, quantity demanded exceeds quantity supplied, and a shortage exists. Consumers are willing to pay more than the current price to obtain the quantity they demand, and suppliers are not supplying enough of the good to meet demand. Therefore, the price will increase over time until it reaches the equilibrium price at which quantity demanded equals quantity supplied. At this point, there will be no more shortages or surpluses; the market will be in equilibrium.

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Find the area of a rectangle with the length measuring 8 km and the width measuring 5 km.
A. 26 m2
B. 40 m2
C. 40 km2
D. 26 km2​

Answers

Answer:

The answer is C. 40 km^2

8km*5km = 40

A = L*W

L = 8 km

W = 5 km

The Family and Medical Leave Act: _____________

a. provides paid leave for women who choose to stay home with newborn infants.
b. was recently eliminated by the Supreme Court due to an employment shortage.
c. provides unpaid leave of up to 6 weeks for couples (male or female) who have a new baby.
d. provides unpaid leave of up to 12 weeks for men and women for the birth or adoption of infants, or in the case where it is necessary to care for an immediate family member who may be ill.

Answers

Answer:

Ddddddddddddddddddddd

In Virginia, government agencies that address market failures include the Attorney General,
the Department of Labor, and the Department of Environmental Quality. true or false ?

Answers

Answer:

The answer is False.

Explanation:

The office of the Attorney General in Virginia primarily responsible for attending to matters of the state such as:

Representing the governor and the state in legal matters; Consulting for members of the Virginia General Assembly (VGA) and local government officials Acting as the defense counsel in legal suits filed against the stateDefending the constitution of the state

The department of Labour on the other hand is tasked with the following mission to position Virginia as a conducive place to live work or run a business. It tries to achieve this by adopting and promoting international best practices.

Department of Environment of course is focused on ensuring that companies and individuals uphold the law in relation to the environment.

Managing the stability of inflation, employment and interest rates by the use of monetary policies.

Cheers

Which of the following factors does not cause a block in the flow of money in the economy?
low levels of consumer confidence
stock market crash
low interest rates
employees not receiving a cost of living raise at work

Answers

The one factor that does not cause a block in the flow of money in the economy is low levels of consumer confidence. Hence, Option A is correct.

What does the flow of money mean?

Money flows show how credit and money move throughout the economy when income is converted into savings and investments, and then back again.

Real flows show how goods, services, and other goods and services are generated and used in the economy. Money flows from one party to the seller, while goods or services flow from the seller to another.

In all transactions, money moves between the various economic sectors as people and businesses purchase and sell commodities and services. Macroeconomists are motivated by money.

Therefore, Option A is correct.

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Sarai spends her day checking through boxes of built product to ensure accuracy in production. She makes sure there is enough product to meet the demand. Based on her tasks, which is most likely her career? Manufacturing Production Process Development Maintenance, Installation, and Repair Logistics and Inventory Control Health, Safety, and Environmental Assurance.

Answers

Based on the fact that Sarai is usually making sure there is enough supply, she is most likely a Logistics and Inventory Control officer.

What does a Logistics and Inventory Control officer do?

They make sure that the company has enough inventory to meet the demands of customers.

They also check the purchases that the company acquires for quality and accuracy before they can be sold to customers. This is what Sarai does.

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Answer:

Logistics and Inventory Control

Explanation:

Good Luck

A production possibilities curve is bowed out, indicating increasing opportunity cost because of.

Answers

A production possibilities curve is bowed out, indicating increasing opportunity cost because of   amount of a good  that is needed to be sacrificed for each additional unit of another good is more than compare to the  previous unit.

What is the reason why  production possibility curve do bowed out?

The  reason why  production possibility curve do bowed out is that it gives the  implication of scarcity.

It should be noted that the  bowed-out shape of the production possibilities  do comes from the allocation of the resources that is based on comparative advantage.

In conclusion, The Production Possibilities Curve  serves as the model that is been used to  display the  tradeoffs that is associated with allocating resources that exist in  production of two goods and this serves as the concepts of scarcity, opportunity cost.

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Do you think business practices will become standardized across cultures as the global marketplace continues to flourish? Why or why not?

Answers

Answer:

Most likely yes

Explanation:

Business practices do depend on local cultures, but they are also very sensitive to standardization since business across the world have the base basic objective: to increase economic value, and this value is measurable.

As globalization advances, firms all over the world will seek the best financial, operative, and human resource practices in order to increase economic value, and this practices will be available to a global audience mainly in the form of quantitative data and strategies that can be adapted to any firm no matter where it is located.

rental rates have increased by 2% in the last six months. which appraisal principle best explains this rate increase?

Answers

The past six months have seen a 2% increase in rental rates. This rate increase is best explained by the supply and demand appraisal principle.

The link between price and quantity demand is sometimes referred to as the demand curve. A product's demand is influenced by a number of variables, such as perceived need, price, perceived quality, convenience, alternatives provided, customer preferences, and available funds. How much was paid for the good? The fundamental connection between supply and demand is determined by the potential price of a good and the quantities that would be purchased at those levels. Since the relationship is frequently negative, a rise in price will usually cause a decrease in the quantity demanded. The falling slope of the consumer demand curve is a visual representation of  this negative relationship.

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Write a program that can be used to determine the tip amount that should be added to a restaurant charge. allow the user to input the total, before taxes and the tip percentage (15% or 20%). produce output showing the calculated values including the total amount due for both the 15% and the 20% tips. tax of 9% should be added to the bill before the tip is determined. write appropriate methods for your solution

Answers

Using C# determine the tip amount that should be added to a restaurant charge.

What is c# program?

C# (C-Sharp) is a programming language developed by Microsoft that runs on the .NET Framework

using System;

using System.Collections.Generic;

namespace App

{

  class Program

  {

      static double calculateTip15(double billAmount)

      {

          return billAmount * 0.15;

      }

      static double calculateTip20(double billAmount)

      {

          return billAmount * 0.2;

      }

      static double calculateTax(double billAmount)

      {

          return billAmount * 0.09;

      }

      static void Main(string[] args)

      {

          Console.Write("Enter the bill amount: ");

          double billAmount = double.Parse(Console.ReadLine());

          double tax = calculateTax(billAmount);

          double subtotal = billAmount + tax;

          double tip15 = calculateTip15(subtotal);

          double tip20 = calculateTip20(subtotal);

          double totalAmountDue = subtotal + tip15 + tip20;

          Console.WriteLine("\nThe subtotal (the amount owed prior to applying the tip): {0}", subtotal.ToString("C"));

          Console.WriteLine("Tax of 9%: {0}", tax);

          Console.WriteLine("The total amount due for the 15% tips: {0}", tip15.ToString("C"));

          Console.WriteLine("The total amount due for the 20% tips: {0}", tip20.ToString("C"));

          Console.WriteLine("The total amount due: {0}", totalAmountDue.ToString("C"));

          Console.ReadLine();

      }

  }

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How can you find the lenders and servicers for your federal loans?

a.Call your school’s financial aid department

b.Call your bank

c.Visit the NSLDS website

d.Visit the MLB website

Answers

C you should vist NSLDS website
Other Questions
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