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You have been pre-qualified so you can start looking at houses for sale, but the lenders tell you that due to poor credit they cannot help you. You continue to look anyway hoping for a miracle, and you find a home for sale with seller financing. The house is an investment property for sale by owner. Your down payment is sufficient but the seller considers you a bad risk due to your credit history. Finally, he agrees to hold a mortgage but at a 19 percent interest rate. What, if anything would protect you from such high interest rates?

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The New Jersey Real Estate Salesperson Exam has 120 questions and you are given 4 hours to complete it.
 


You have been pre-qualified so you can start looking at houses for sale, but the lenders tell you that due to poor credit they cannot help you. You continue to look anyway hoping for a miracle, and you find a home for sale with seller financing. The house is an investment property for sale by owner. Your down payment is sufficient but the seller considers you a bad risk due to your credit history. Finally, he agrees to hold a mortgage but at a 19 percent interest rate. What, if anything would protect you from such high interest rates?





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