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California Real Estate Exam

Category - Real Estate

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If a lender agrees to make a loan to a specific borrower on a specific property, they have made a:

Decision to make the loan
Statement that both the buyer and the property pass inspection
Firm commitment
All of the above

Explanation

Answer: C - A lender’s agreement to make a loan to a specific borrower on a specific property is called a firm commitment.

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California Real Estate Exam

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