Housing counselor Study guides, Class notes & Summaries

HUD Housing Counselor Certification Practice (HUD Knowledge Assessment) Questions And Answers Already Graded A+

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? - AnswerIncome, 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% If th...

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? - Answe...

HUD HOUSING COUNSELOR CERTIFICATION EXAM 2024 ACTUAL EXAM COMPLETE 270 QUESTIONS WITH DETAILED VERIFIED ANSWERS BEST REVISION MATERIAL ALREADY GRADED A+

Housing Counselor Exam Prep Questions and Answers 100% Pass Default - Correct Answer ️️ -When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - Correct Answer ️️ -Monthly housing expenses/gross monthly income Front-End Ratio maximums - Correct Answer ️️ -28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation - Correct Answer ️️ -total monthly debt expenses/gross monthly incom...

HUD Housing Counselor Module- Avoiding Foreclosure Exam Questions and Answers 100% Pass Which of the following did NOT contribute to the increase in foreclosure rates during the mortgage crisis? - Risky loan products with features like negative amortization - Homeowners paying off mortgages early - Aggressive marketing of Home Equity Line of Credits (HELOC) - Using teaser rates to qualify more borrowers - Correct Answer ️️ -Homeowners paying off mortgages early This program made it ...

Housing Counselor Exam Questions and Answers 100% Accurate Housing Counselor Exam Questions and Answers 100% Accurate Housing Counselor Exam Questions and Answers 100% Accurate Housing Counselor Exam Questions and Answers 100% Accurate Default - ANSWER-When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - ANSWER-Monthly housing expenses/gross monthly income Front-End Ratio maximums - ANSWER-28% or less - conventional loan 31% or less for FHA, 3...

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 mort...

HUD HOUSING COUNSELOR CERTIFICATION PRACTICE

HUD Housing Counselor Exam Questions and Answers (Latest Update 2024)