Hud 1 - Study guides, Class notes & Summaries

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Back-end ratio - Answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly income equals 24%. Calculation: Deb...

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 1.75% ...

HUD Practice Test and 100% Correct Answers HUD Practice Test and 100% Correct Answers HUD Practice Test and 100% Correct Answers Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - 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 ...

Superior School of Real Estate Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: What gets recorded Answer: DREAM OIL - deeds, restricted covenants, easements, assignments options, Installment land contracts, leases longer 3 yrs Q: Nc enabling act Answer: - Confers zoning power on municipality - zones outside the incorporated limits but subject to zoning restrictions are .... ETJ Extra-terrorial jurisdiction Q: NC zonin...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

HUD Test 1 Questions and Answers (Graded A)HUD Test 1 Questions and Answers (Graded A)HUD Test 1 Questions and Answers (Graded A)HUD Test 1 Questions and Answers (Graded A)HUD Test 1 Questions and Answers (Graded A) Which document should the counselor review with the client to identify spending habits and track expenses? - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? - ANSWER-Net income Which item in the...

10 ug/ft2 floors 10 ug/ft2 interior windows, sills or stools 100 ug/ft2 window troughs or window well 50 ug/m3 Osha permissible exposure limit 30 ug/m3 Osha action level - Requires 2 hr training & 1 blood test Drinking Water Levels 15 ppb (parts-per-billion) Lead soil levels 400 ppm (parts-per-million) Lead soil Levels (2) 5000 ppm (parts-per-million) HUD requires abatement of soil hazard BLOOD LEAD LEVELS - Children 5 ug/dl requir...