Key Benefits (6/13 Test For Associate Members)
WELCOME TO FUNDMYHOME. ORG. This is your company and together we will succeed. We invite you to share FundMyHome. Org's Amazing Down Payment Assistance Program and lucrative, unparalleled and personally rewarding Business Opportunity with your friends and family to take part in the Million Homes Challenge. Together we'll create 1 Million New Homeowners. All the Associate Members must send their supporting documentation to complete the Associate Member Onboarding Process as PDF documents in the link on the page. The Supportive Documentation needed from the Associate Member: Social Security Card Driver’s License Please follow Read morethe link below to UP-LOAD your Supportive Documentation:https://www. Secureloandocs. Com/uploads/register/53907904 Remember that an Educated Associate Member is our Best Partner.
- 1.
Please Watch the Video Before Answering the Questions
- 2.
With FundMyHome.org there is an Application Fee or Broker Fees
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
FundMyHome.org does not charge an application fee or broker fees.Rate this question:
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- 3.
Who may recover their Initial Out-Of-Pocket expenses at Closing?
- A.
Mortgage Approved US Veterans holding V A Certificates of Eligibility
- B.
Mortgage Approved Homebuyers purchasing Homes Inside USDA Designated Areas
- C.
Mortgage Approved Homebuyers who FundMyHome.org can bring to close with Zero Out-Of-Pocket
- D.
All of the Above
Correct Answer
D. All of the AboveExplanation
All of the above options may recover their Initial Out-Of-Pocket expenses at closing. This means that Mortgage Approved US Veterans holding VA Certificates of Eligibility, Mortgage Approved Homebuyers purchasing Homes Inside USDA Designated Areas, and Mortgage Approved Homebuyers who FundMyHome.org can bring to close with Zero Out-Of-Pocket, all have the opportunity to recover their initial expenses at closing.Rate this question:
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- 4.
Applications can be Approved within 5-7 Days of FMH receipt of Homebuyer's completed Application and Supportive Documentation
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement suggests that applications can be approved within 5-7 days of FMH receiving the completed application and supportive documentation from the homebuyer. This means that the approval process is relatively quick and efficient, allowing homebuyers to receive a decision on their application within a week.Rate this question:
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- 5.
The Associate Members have to Confirm the amount of Potential Eligibility, Zillow, Credit Scores, Supportive Documentation, Customer ID #, etc before the Pre-qualification call.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because the Associate Members are required to confirm various details such as the potential eligibility, Zillow, credit scores, supportive documentation, and customer ID# before the pre-qualification call. This suggests that there is a specific process in place that involves verifying these factors before proceeding with the pre-qualification call.Rate this question:
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- 6.
Homebuyers typically close within 30-45 Days of signed Purchase Agreements
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because it is a common practice for homebuyers to close within 30-45 days of signing the purchase agreements. This timeframe allows for the completion of necessary paperwork, inspections, appraisals, and any other requirements before the finalization of the sale. However, it is important to note that the actual closing timeline can vary depending on various factors such as the complexity of the transaction, financing arrangements, and any contingencies outlined in the agreement.Rate this question:
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- 7.
What is our Goal?
- A.
Help bring Homebuyers to Close with ZERO or Little out of Pocket
- B.
Sell as many cars as possible
- C.
Help Homebuyers Decorate their Homes
Correct Answer
A. Help bring Homebuyers to Close with ZERO or Little out of PocketExplanation
The goal mentioned in the given options is to help bring Homebuyers to Close with ZERO or Little out of Pocket. This means that the focus is on assisting homebuyers in minimizing their upfront costs when closing a deal on a property.Rate this question:
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- 8.
Which are the Type of Residential Real Estate Properties that can be purchased under this Program?
- A.
Single Family Residences
- B.
Condominiums
- C.
Town-Homes
- D.
Villas
- E.
Double Wide Mobile Homes
- F.
Multifamily Dwellings up to 4 units
- G.
All of the Above
Correct Answer
G. All of the AboveExplanation
All of the residential real estate properties mentioned in the options can be purchased under this program. This means that buyers have the option to purchase single family residences, condominiums, town-homes, villas, double wide mobile homes, and multifamily dwellings up to 4 units.Rate this question:
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- 9.
There is an Income Limit in FundMyHome.org
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement "There is an Income Limit in FundMyHome.org" is false. This means that FundMyHome.org does not have an income limit.Rate this question:
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- 10.
FundMyHome.org helps Approve Homebuyers with Credit Scores as low as 580
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because FundMyHome.org is a platform that helps approve homebuyers with credit scores as low as 580. This means that individuals with a credit score of 580 or above can still be eligible for homebuying assistance through FundMyHome.org.Rate this question:
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- 11.
FundMyHome.org provides Down Payment Assistance as Non-Repayable Gifts without Liens or Second Mortgages
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
FundMyHome.org provides down payment assistance in the form of non-repayable gifts without any liens or second mortgages. This means that the assistance provided by FundMyHome.org does not need to be paid back and does not involve any additional financial obligations such as liens or second mortgages on the recipient's property. Therefore, the statement is true.Rate this question:
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- 12.
FundMyHome.org helps Homebuyers burdened by Student Loans
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
FundMyHome.org is a platform that specifically aims to assist homebuyers who are burdened by student loans. This suggests that the statement "FundMyHome.org helps Homebuyers burdened by Student Loans" is true.Rate this question:
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- 13.
Who does FundMyHome.org provide Down Payment Assistance?
- A.
First Time Homebuyers
- B.
Second Time Homebuyers
- C.
All Mortgage Approved Homebuyers regardless of how many times they have owned Residential Real Estate
Correct Answer
C. All Mortgage Approved Homebuyers regardless of how many times they have owned Residential Real EstateExplanation
FundMyHome.org provides Down Payment Assistance to all Mortgage Approved Homebuyers regardless of how many times they have owned Residential Real Estate. This means that both first-time and second-time homebuyers are eligible for the assistance, as well as any other homebuyers who have been approved for a mortgage, regardless of their previous homeownership status.Rate this question:
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- 14.
There are no products to Sell or Consume in FundMyHome.org (except for some occasional Sales Aid Videos and Training Courses and Materials)
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement in the question states that there are no products to sell or consume in FundMyHome.org, except for some occasional sales aid videos and training courses and materials. The correct answer is true because it confirms the absence of products for sale or consumption on the website, except for the mentioned occasional videos and training materials.Rate this question:
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- 15.
Our No-Income Limit, Non-Repayable Down Payment Assistance model permits you to Market Yourself Virtually without Competition
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
This statement suggests that the No-Income Limit, Non-Repayable Down Payment Assistance model allows individuals to promote themselves virtually without facing any competition. This means that individuals can market themselves effectively without any restrictions on their income and without having to repay the down payment assistance. Therefore, the statement is true.Rate this question:
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- 16.
Our Down Payment Assistance Recipients will typically reward you with the Gift of Enhanced Customer
- A.
Indifference
- B.
Disloyalty
- C.
Loyalty
Correct Answer
C. LoyaltyExplanation
The correct answer is "Loyalty". The statement suggests that recipients of Down Payment Assistance are likely to show loyalty towards the person providing the assistance. This implies that they will continue to be a customer and support the person or organization in the future.Rate this question:
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- 17.
FundMyHome.org is For The People By The
Correct Answer
People, peopleExplanation
The given answer "People, people" is a repetition of the word "people" in the statement "FundMyHome.org is For The People By The People". This repetition emphasizes the idea that FundMyHome.org is a platform created and operated by individuals, for the benefit of individuals. It highlights the focus on the people involved and reinforces the notion that the organization is dedicated to serving the needs and interests of its users.Rate this question:
- 18.
A Mortgage or Real Estate License is not required to Promote our Down Payment Assistance Program
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is stating that a Mortgage or Real Estate License is not necessary to promote their Down Payment Assistance Program. This means that anyone can promote the program without needing a specific license, making the statement true.Rate this question:
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Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Dec 25, 2019Quiz Created by
Carlos
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