HUD Housing Counselor Certification Practice Questions and Answers 100% Pass
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HUD Housing Counselor Certification
Institution
HUD Housing Counselor Certification
HUD Housing Counselor Certification Practice Questions and Answers 100% Pass
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? 50%
Which is the maximum recommended housing ratio for renting an apartment? 30%
Eligibility requireme...
hud housing counselor certification practice questions and answers 100 pass
what is the maximum percent of area median income allowable for a household to qualify for a housing choice voucher 50 wh
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HUD Housing Counselor Certification
Practice Questions and Answers 100%
Pass
What is the maximum percent of area median income allowable for a household to qualify for a
Housing Choice Voucher? ✔✔50%
Which is the maximum recommended housing ratio for renting an apartment? ✔✔30%
Eligibility requirements for down-payment assistance programs include which factors?
✔✔Income, home-buyer education, purchase price
The client is considering an FHA mortgage. What is the upfront mortgage insurance premium
(UFMIP) for an
FHA mortgage? ✔✔1.75%
If the client was denied a mortgage loan and the lender told him to come back after his divorce
had been final for three years, what is the best advice for the housing counselor to provide to the
client to report a violation to ECOA? ✔✔Contact the Federal Trade Commission as the lender's
action might violate the Equal Credit Opportunity Act
,A question from a lender on the client's Medical History would be inappropriate or appropriate?
✔✔Inappropriate
Who is responsible for educating home-buyers about their rights? ✔✔Housing Counselor
In order to minimize the impact on the client's credit score, what is the maximum time frame
within which the client should apply for pre-approval from multiple lenders? ✔✔A 30-day
period
What are the responsibilities of a home inspector? ✔✔Examine mechanical systems, Evaluate
the condition of a home, Identify items to be repaired or replaced
Which is the best reason that a housing counselor would suggest that a client speak to three to
five different lenders? ✔✔To compare loan estimates
Which is the best advice that a housing counselor can give the client to protect against identity
theft? ✔✔Review credit report at least once per year
,The client tells the lender that he is expecting a raise soon. Should the Lender provide a Loan
Estimate (LE) with, or without factoring the raise? ✔✔Provide a loan estimate without factoring
in the raise
If this client obtains a mortgage of $100,000, typically, how much should he expect to pay for
closing costs? ✔✔$3000 to $4000
Is Application Fee an upfront cost of clients who are considering renting or buying a property?
✔✔Renting
A client wants to customize his home with do-it-yourself projects, this is an indication the client
is best aligned with which housing option; Home-ownership or Renting? ✔✔Home-ownership
The client's gross monthly income is $4167 and the monthly debts are $435. What is the
maximum mortgage payment (rounded to the nearest dollar) for which this client would qualify
using a standard conventional loan? ✔✔$1,065
NOTE: The maximum front-end ratio for a standard conventional loan is 28%, and the back-end
ratio is 36%. The front-end ratio is calculated as 28% of the client's monthly income of $4,167,
which is $1,167. The back-end ratio is calculated as 36% of the
, client's monthly income of $4,167 minus the client's monthly debt of $435, which equals $1,065.
Therefore, the maximum loan payment that the client qualifies for is the lower of the two
numbers, which is $1,065.
Which is the maximum debt-to-income ratio allowable for an FHA loan? ✔✔43%
Which is the maximum debt-to-income ratio allowable for an FHA Energy Efficiency Mortgage
loan? ✔✔45%
The client's gross monthly income is $4167 and the monthly debts are $435. With a monthly
mortgage payment of $950, which is the client's debt-to-income ratio (round to the nearest whole
percent)? ✔✔33%
The client's gross monthly income is $4167 and the monthly debts are $435. If the client seeks an
FHA Energy Efficient Mortgage (EEM) loan, what is the maximum housing payment for which
he can qualify (rounded to the nearest dollar)? ✔✔$1,292
On which factor is a borrower's annual mortgage insurance premium (MIP) based? ✔✔Current
principal balance
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