Hud homeownership Study guides, Class notes & Summaries

HUD Exam- Homeownership correct 100% Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - ANSWER D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for solic...

HUD - Homeownership Exam 2023-2024...

HUD Exam- Homeownership Question & Answers 2023/2024 Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - ANSWER-D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is respo...

HUD Practice Test Questions with Correct Answers Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - Correct Answer ️️ -Pay Stub A client would like to 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? - Correct Answer ️️ -Find a second job A credit repor...

HUD Practice Exam Questions and Answers 100% Pass Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - Correct Answer ️️ -List of Assets Retirement plan statement Pay stub X Current lease 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? -...

HUD PRACTICE TEST QUESTIONS AND VERIFIED SOLUTIONS 2024/2025 GRADED A+. 2 / 7 1. Which document is most important when working with a client to developan initial budget as part of a Client Action Plan?: Pay Stub 2. A client would like to purchase a home within one year. The client is moti- vated to increase household income as a way to save for a down payment andqualify for a loan.Which is the best solution for the client to reach this goal?: Find a second job 3. A credit report may co...

HUD Exam- Homeownership Verified Answers Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for sol...

HUD Exam- Homeownership Questions with Solved Answers

HUD Exam - Avoiding Foreclosure 1The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeowne...