Hud exam prep 2023 Study guides, Class notes & Summaries

Conventional Loan - correct answerFront end 28% Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms FHA - correct answerFront end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - correct answerFront end 33% Back end 45% VA - correct answer41% USDA - correct answerFront End 29% Back End 41%, low-to-moderate income, must liv...

HUD Exam Prep 2023 Solved correctly

HUD Exam Prep 2023 Solved And Graded A+ 1. Conventional Loan: Front end 28%/Back end 36% can go up to 43% (debt to income), min 3% DP, $548,250 max loan, PMI if LTV > 80%, Good credit: 640 FICO, May have interest only terms 2. FHA: Front end 31%/Back end 43%, min DP 3.5%, seller concessions 6% max, bad credit, bankruptcy: 2 years Ch 7 & 1 year filing Ch 13, MIP, 580 min score, assumable loan, 115% median house value 3. EEM (Energy) FHA: Front end 33% Back end 45% 4. VA: 41%, no m...

HUD Exam Prep 2023...

HUD Exam Prep 2023 Solved And Graded A+ 1. Conventional Loan: Front end 28%/Back end 36% can go up to 43% (debt to income), min 3% DP, $548,250 max loan, PMI if LTV > 80%, Good credit: 640 FICO, May have interest only terms 2. FHA: Front end 31%/Back end 43%, min DP 3.5%, seller concessions 6% max, bad credit, bankruptcy: 2 years Ch 7 & 1 year filing Ch 13, MIP, 580 min score, assumable loan, 115% median house value 3. EEM (Energy) FHA: Front end 33% Back end 45% 4. VA: 41%, no m...

HUD Exam Prep | 196 Actual Questions and Answers 100% Correct | LATEST 2023-2024

HUD Exam Prep Questions and Answers (2023/2024) (Verified Answers)

HUD Exam Prep Question and answers rated A+ 2023

HUD Exam Prep Question and answers rated A+ 2023 % Impact of Account Payment History on Credit Score - correct answer 35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - correct answer 30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - correct answe...

HUD Exam Prep -2023..