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if you went to an institution that specialized in real estate mortgage loans to request a first mortgage loan for your new house, you would probably be at a
1. Commercial Bank
2. Real estate broker
3. Saving and loan
4. brokerage company

All these options seems right to me… PLZ HELP here Guys!

3 Thoughts on Urgent Help with Real estate Mortgage Loan problem?
  1. Reply
    Commentator1981
    February 1, 2014 at 3:26 am

    Could be 1, 3 or 4. Most likely 3. Your teacher is an idiot… here’s why:

    1. Commercial Bank? All banks are commercial. And many shell out their own cash to finance loans, so you could get a mortgage there. A commercial loan, however, would not be the same as a homeowner’s mortgage.

    Savings and Loan? What does that even mean? This isn’t 1942 – lenders haven’t been called S&L institutions for decades. Assuming that means a private bank, then this would be the most appropriate answer.

    Brokerage Company? It could be this… if it specifically means “Mortgage Broker.”

    It’s aggravating when the answers are vague and contain generic terms that have no relevance to today’s real estate and mortgage industries. Plus, there’s a difference between a house and a home. You could theoretically get a house and not live in it, thus making it an investment property that would qualify for a commercial mortgage bundled up with other investment property notes. So then it could be #1 in this case if you want to argue semantics with your teacher.

  2. Reply
    someone
    February 1, 2014 at 3:54 am

    3 Savings and Loan
    Commercial Banks do not do primary residence mortgages
    Real Estate Broker does NOT do mortgages
    Brokerage Company deals in Stocks and Funds not lending money for home mortgages

  3. Reply
    Fred
    February 1, 2014 at 4:51 am

    Sounds like a DRE test question.
    I believe the answer is 3. Savings and Loan

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