Hud exam 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 Questions with Solved Answers

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 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 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...

HUD Exam- Homeownership (Q&A)

HUD Exam- Homeownership

Hud Housing Counselor Final Exam 2024 Questions And Answers Which document should the counselor review with the client to identify spending habits and track expenses: - CORRECT ANSWER-Bank statement Which additional information would the housing counselor need to prepare a household budget for this client? - CORRECT ANSWER-Net income Which item in the client's budget is a fixed expense? - CORRECT ANSWER-Car lease payment What is the maximum percent of area medium income allowable for...