Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam real estate exam. In this episode you will learn: • Conventional loans are private transactions not insured or guaranteed by the government. • Conforming loans must adhere to Fannie Mae and Freddie Mac underwriting standards. • Private Mortgage Insurance is mandatory for any loan where the LTV exceeds 80 percent. • PMI is designed specifically to protect the lender rather than the borrower. • Lenders use standard debt-to-income ratios of 28 percent and 36 percent for qualification. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep