Hud housing affordability - Study guides, Class notes & Summaries

HUD Exam with correct answers - Housing Affordability

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires t...

HUD Exam - Housing Affordability Exam Questions and Answers

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? 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 ...

Types of Credit Used - Answer- Student loan or credit cards only FAKO scores - Answer- purchase score which are educational score Fair Credit Reporting Act FCRA - Answer- what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - Answer- free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - Answer- dispute bill error/mail 60 days/creditor 30 days acknowledge and...

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires...

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires ...

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires ...

HUD Housing Counselor Certification exam: sample questions and answers 1. Financial Management Question: What is the recommended percentage of income that a household should allocate for housing expenses, including rent or mortgage payments? Answer: HUD recommends that households spend no more than 30% of their gross monthly income on housing expenses, which include rent or mortgage payments, property taxes, and insurance. ________________________________________ 2. Housing Affordability...