Texas Real Estate State Practice Exam

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Prepare for the Texas Real Estate State Exam with comprehensive study materials. Engage in multiple choice questions and gain insights with in-depth explanations and examples. Ace your exam confidently!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which type of loan covers more than one piece of property under a single loan?

FHA Loan
VA Loan
Blanket Loan
Package Loan

The correct answer is: Blanket Loan

The correct answer is indeed a blanket loan. A blanket loan is specifically designed to finance multiple properties under a single loan agreement. This type of financing is often utilized by builders or developers who need to purchase several parcels of land to either build new construction or develop real estate projects. Unlike other loan types, such as FHA or VA loans, which are usually geared toward individual buyers for single properties, a blanket loan can encapsulate various properties, providing a streamlined approach to financing multiple real estate investments simultaneously. Package loans, on the other hand, typically bundle real estate with personal property, like furniture or equipment, rather than covering multiple pieces of real estate.