CMP - Certified Mortgage Processor Practice Test
CMP - Certified Mortgage Processor CMP CMP - Certified Mortgage Processor Property Types and Eligibility Questions and Answers 2
What is the key distinction between a 'second home' and an 'investment property' for mortgage qualification purposes?
Select your answer
A
Investment properties must be in a different state than the primary residence
B
Second homes must be occupied by the borrower for a portion of the year and cannot be subject to rental agreements
C
Second homes require a higher down payment than investment properties
D
There is no underwriting distinction between the two
Hint
