Finance
In Iowa, which instrument is used to pledge real property as security for a loan while the borrower retains title?
ATrust deed
BMortgage✓ Correct
CLand contract
DSecurity agreement
Explanation
Iowa uses the mortgage instrument (rather than a deed of trust used in many states), where the borrower retains title but pledges the property as collateral for the loan.
Related Iowa Finance Questions
- In Iowa, which security instrument is most commonly used to secure a mortgage loan?
- Iowa VA loans are available to eligible veterans and offer:
- Iowa's Home Equity Conversion Mortgage (HECM) reverse mortgage program allows eligible Iowa homeowners to:
- When an Iowa buyer assumes an existing mortgage, they:
- Iowa's Mortgage Credit Certificate (MCC) program allows eligible first-time homebuyers to:
- An Iowa borrower's debt-to-income (DTI) ratio is calculated by dividing:
- Iowa's Community Reinvestment Act (CRA) ratings for Iowa banks affect:
- A buyer purchases a home for $250,000 with a 10% down payment. What is the loan-to-value (LTV) ratio?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →