Finance
An Iowa home buyer's lender requires title insurance as a condition of the loan. Which policy does the lender require?
AOwner's title insurance policy
BLender's (mortgagee's) title insurance policy✓ Correct
CHomeowner's insurance policy
DFlood insurance policy
Explanation
Lenders typically require a lender's (mortgagee's) title insurance policy to protect their security interest. This is separate from an owner's title insurance policy, which the buyer may optionally purchase.
Related Iowa Finance Questions
- A USDA Rural Development loan is available in Iowa to buyers in:
- Regulation Z (Truth in Lending Act) requires that certain loan advertisements include a full disclosure of the loan terms if which of the following is advertised?
- Amortization in a mortgage refers to:
- What is the purpose of an escrow impound account associated with a mortgage?
- In Iowa, the Iowa Division of Banking regulates:
- Iowa's short sale in real estate occurs when:
- Iowa's graduated payment mortgage (GPM) is characterized by:
- Iowa banks participating in the Federal Home Loan Bank system can use which program to make discounted mortgages to low- and moderate-income buyers?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →