Fha - Study guides, Class notes & Summaries

FHA REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!

Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - Answer- Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this goal? Find a second job Borrow from retirement fund Sell ma...

Which document should the counselor review with the client to identify spending habits and track expenses? A. Credit report B. Pay stubs C. Bank Statement D. Tax returns - Correct Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? A. Net Income B. Lease Documentation C. Credit Score D. Bankruptcy Discharge - Correct Answer Net Income Which item in the client's budget is a fixed expense? A. Food ...

What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer- 50% Which is the maximum recommended housing ratio for renting an apartment? - Answer- 30% Eligibility requirements for down-payment assistance programs include which factors? - Answer- 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? - Answer- 1.7...

FHA CASE STUDY 3

California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)California Real Estate Exam 2023-2024 Multiple Choice Questions and Answers 100% Solved(RATED A+)An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising o...

New Jersey PSI Real Estate Exam With complete solutions. Water Rights ️ The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is ️ an agent to the broker and a subagent to the principal. Depreciation is calculated based on the ️ Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title...

Champions Real Estate Finance Exam (New 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| A Grade QUESTION By FHA paying a claim to the lender in the event of a homeowner's default does this increase or reduce the risk? Answer: FHA will bear less risk and lower the risk QUESTION This can be paid at closing or added to the loan at funding Answer: UFMIP Up Front Mortgage Insurance Premium QUESTION What is the LTV of an FHA loan ...

  FHA Review Exam (GRADED A) Questions and Answers (100% Correct) The nurse is admitting a 75-year-old man with a 50-year history of smoking 1 pack of cigarettes per day. Among the patient's concerns is his chronic shortness of breath. One nail finding that demonstrates chronic hypoxia is? clubbing All of the following skin lesions may be papular except Herpes zoster The ABCDEs of melanoma identification do not include Birthmark: café au lait spot that does not fade. ...

Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False A 3-Year ARM adjusts every 3 years True A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False A HELOC loan has an interest only payment ...