Finance
A private mortgage in Oklahoma is a loan made by:
AA government agency such as HUD
BA private individual or entity rather than a traditional institutional lender✓ Correct
CA state bank operating under FDIC rules
DThe Oklahoma Housing Finance Agency
Explanation
A private mortgage is made by a private individual (such as a seller carrying a note or a private investor) rather than a bank or institutional lender. These loans can fill gaps when conventional financing is unavailable but may carry higher rates.
Related Oklahoma Finance Questions
- Private Mortgage Insurance (PMI) is typically required on conventional loans when the borrower's down payment is:
- A 'teaser rate' on an Oklahoma ARM can lead to payment shock when:
- Hard money loans in Oklahoma are typically used for:
- A VA-guaranteed home loan requires the borrower to pay:
- In Oklahoma, oil and gas production on a mortgaged property may affect the loan because:
- Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?
- The Closing Disclosure under TRID must be provided to the borrower at least:
- Bridge financing in Oklahoma real estate is short-term financing used to:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →