Certification Practice, HUD Housing, Counseling Exam, Practice Test, Practice Exam, Tenancy Questions, Module 1.1, Prep Exam, HUD Housing Exam, Study Guide, HUD Housing Counseling Exam, Module 3, Counselor Exam, HUD Housing, HUD Housing Counseling Exam
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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 fa...
Voorbeeld 4 van de 36 pagina's
In winkelwagenWhat 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 fa...
Adjustable Rate Mortgage (ARM) - Answer Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjust...
Voorbeeld 2 van de 8 pagina's
In winkelwagenAdjustable Rate Mortgage (ARM) - Answer Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjust...
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 - Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for t...
Voorbeeld 2 van de 14 pagina's
In winkelwagenWhich 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 - Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for t...
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 ...
Voorbeeld 2 van de 10 pagina's
In winkelwagenWhich 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 ...
Civil Rights Act of 1866 - Answer Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Answer banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development...
Voorbeeld 4 van de 41 pagina's
In winkelwagenCivil Rights Act of 1866 - Answer Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Answer banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development...
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, 30% or less for rentals Back-End Ratio (Debt...
Voorbeeld 2 van de 12 pagina's
In winkelwagenDefault - 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, 30% or less for rentals Back-End Ratio (Debt...
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 client's budget...
Voorbeeld 2 van de 13 pagina's
In winkelwagenWhich 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 client's budget...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - 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 househol...
Voorbeeld 2 van de 11 pagina's
In winkelwagenWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - 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 househol...
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 cl...
Voorbeeld 4 van de 43 pagina's
In winkelwagenBack-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 cl...
Jake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
Voorbeeld 2 van de 12 pagina's
In winkelwagenJake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
Track Income Item to include in budget - Answer Regular Salary, Temporary Jobs, Unemployment compensation, Public assistance Track Income Items not to include in budget - Answer Pre-tax payroll deductions (Retirement funds, Flexible Spending account. Credit Score Documents to use for income -...
Voorbeeld 1 van de 2 pagina's
In winkelwagenTrack Income Item to include in budget - Answer Regular Salary, Temporary Jobs, Unemployment compensation, Public assistance Track Income Items not to include in budget - Answer Pre-tax payroll deductions (Retirement funds, Flexible Spending account. Credit Score Documents to use for income -...
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer 50 % Maximum housing ratio to rent an apartment - Answer 30 % Eligibility requirements for downpayment assistance programs include which factors - Answer Income, homebu...
Voorbeeld 2 van de 7 pagina's
In winkelwagenWhat is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer 50 % Maximum housing ratio to rent an apartment - Answer 30 % Eligibility requirements for downpayment assistance programs include which factors - Answer Income, homebu...
Rental Obstacle + Solutions: Low Income - Answer -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Answer Prior...
Voorbeeld 4 van de 63 pagina's
In winkelwagenRental Obstacle + Solutions: Low Income - Answer -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Answer Prior...
Front end ratio (parts) - Answer Monthly Housing Expense / Gross Income Back End Ratio (parts) - Answer Monthly housing+debt (on credit report - car loan, credit cards & etc) / Gross Income Renter Ratio - Answer 30% / 36% Conventional Ratio - Answer 28% / 36% FHA (Federal Housing Adminis...
Voorbeeld 2 van de 8 pagina's
In winkelwagenFront end ratio (parts) - Answer Monthly Housing Expense / Gross Income Back End Ratio (parts) - Answer Monthly housing+debt (on credit report - car loan, credit cards & etc) / Gross Income Renter Ratio - Answer 30% / 36% Conventional Ratio - Answer 28% / 36% FHA (Federal Housing Adminis...
What act are limited english proficiency persons protected under? - Answer title VI of the civil rights act of 1964 Which act was passed in 1866? - Answer the civil rights act of 1866 What did the civil rights act of 1866 bill declare? - Answer "all persons born in the United States (except A...
Voorbeeld 2 van de 7 pagina's
In winkelwagenWhat act are limited english proficiency persons protected under? - Answer title VI of the civil rights act of 1964 Which act was passed in 1866? - Answer the civil rights act of 1866 What did the civil rights act of 1866 bill declare? - Answer "all persons born in the United States (except A...
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