Finance
In Louisiana, a buyer who needs a larger mortgage than the conforming loan limit must obtain a:
AGovernment-insured FHA loan
BJumbo (non-conforming) mortgage loan from a portfolio lender or large bank✓ Correct
CVA-guaranteed mortgage loan
DUSDA Rural Development loan
Explanation
Loans exceeding the FHFA conforming loan limits cannot be sold to Fannie Mae or Freddie Mac. Borrowers needing larger loans must obtain jumbo mortgages from lenders who retain these loans in their portfolios — typically with stricter qualification requirements and higher rates.
Related Louisiana Finance Questions
- The 'prime rate' as it relates to Louisiana real estate lending is:
- Which of the following best describes 'points' in a Louisiana mortgage transaction?
- A 'point' paid on a mortgage loan is equal to:
- A Louisiana lender is considering a loan on a property appraised at $250,000. The lender's maximum LTV is 80%. What is the maximum loan amount?
- A 'judicial mortgage' in Louisiana arises from:
- In Louisiana, the 'dation en paiement' (giving in payment) in real estate refers to:
- In Louisiana, a 'purchase money mortgage' is distinguished from other mortgages because it:
- In Louisiana, a 'construction loan' is typically structured as:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →