1
Q
Annual Interest
A
(Loan Amount) x ( Interest Rate)
2
Q
Monthly Interest
A
(Loan Amount) x (Interest Rate) /12
3
Q
Quarterly Interest
A
(Loan Amount) x (Interest Rate) /4
4
Q
Annual PMI
A
(Loan Amount) x (PMI Factor)
5
Q
Monthly PMI
A
(Loan Amount) x (PMI Factor) /12
6
Q
Hourly Income
A
(income) x (hours) x 52 = (amount) /12
7
Q
Weekly Income
A
(weekly income) x 52 = (amount) /12
8
Q
Bi-Weekly Income
A
(Bi-weekly income) x 26= (amount) /12
9
Q
Semi- Weekly Income
A
(salary) x 24
10
Q
Loan-to-Value
A
(loan amount) / (lesser of Sales Price or appraisal)
NMLS Exam
flashcards
Decks in class (4)
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