Hud house counseling exam Study guides, Class notes & Summaries
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HUD Exam Prep Questions and Answers 100% Pass
- Exam (elaborations) • 31 pages • 2023
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HUD Exam Prep Questions and Answers 100% Pass Conventional Loan Front 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 Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. 
EEM (Energy) FHA Front end 33% Back end 45% 
VA 41% 
USDA Front End 29% Back End 41%, low-to-moderate income, must live rural area, no down payment, competitive rate...
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HUD Housing Counseling Exam 2023/2024
- Exam (elaborations) • 34 pages • 2024
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HUD Housing Counseling Exam 2023/2024 
 
Back-end ratio 
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 client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...
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HUD Housing Counseling Exam 2023/2024
- Exam (elaborations) • 34 pages • 2024
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HUD Housing Counseling Exam 2023/2024 
 
Back-end ratio 
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 client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...
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HECM Exam questions and correct answers
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HECM Exam questions and correct answers 
A reverse mortgage is... - ANSWERS a loan against the value of a home that provides 
cash advances to a borrower, requiring no repayment until a future time. 
A reverse mortgage is different from a home equity loan because - ANSWERS You do 
not have to make monthly repayments on a reverse mortgage 
A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, 
sells, or permanently moves away 
The purpose of a reverse mortgage is mo...
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HUD Exam Prep (verified)2023
- Exam (elaborations) • 14 pages • 2023
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HUD Exam Prep (verified)2023Conventional Loan 
Front 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 
Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
 
 
EEM (Energy) FHA 
Front end 33% 
Back end 45% 
 
 
 
VA 
41% 
 
 
 
USDA 
Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down payment, ...
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HUD Exam Prep Questions with Complete Solutions | Verified & Update
- Exam (elaborations) • 17 pages • 2024
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Housing Counselor Exam - Pre Assessment Questions With Complete Solutions.
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Housing Counselor Exam - Pre Assessment Questions With Complete Solutions. 
 
Which is an eligibility factor for the Earned Income Tax Credit? 
Receiving wages 
Which situation most likely indicates a loan modification scam? 
The client receives a letter from a company guaranteeing a loan modification 
Which was instituted by Congress to better protect homebuyers following the most recent housing crisis 
Consumer Finance Protection Bureau 
121 Which is an example of a change enacted by Consume...
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HUD Exam Study Questions - Tenancy | 100% Correct Answers
- Exam (elaborations) • 15 pages • 2024
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HUD Exam Study Questions - Tenancy | 
100% Correct Answers 
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 project-based assistance program. To help Ruth find another affordable 
rental option, Jake should take all of the following steps, excep...
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Champions Real Estate Exam: Law of Agency
- Exam (elaborations) • 38 pages • 2024
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Champions Real Estate Exam: Law of Agency 
 
 
 
 
 
This person hires an agent - ANS The Principal 
 
The agent works on behalf of this person - ANS the client (principal) 
 
This type of agency allows for the greatest range of authority - ANS Universal 
 
This is provided to the agent when there is written documentation that the agency relationship exists. - ANS Express authority 
 
This is the most limited of all the agency relationships - ANS ...
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HUD Exam Prep, latest updated
- Exam (elaborations) • 14 pages • 2023
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HUD Exam Prep, latest updated 
Conventional Loan 
Front 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 
Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
 
 
EEM (Energy) FHA 
Front end 33% 
Back end 45% 
 
 
 
VA 
41% 
 
 
 
USDA 
Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down paymen...
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