Budget mortgage - Study guides, Class notes & Summaries

BUS 2204 Personal Finance Quiz 6 2024 Questions and Answers (Score 100% Graded). Marks 20.00/20.00 Grade 100.00 out of 100.00 Question 1 Correct Mark 1.00 out of 1.00 Question text If you buy a $200,000 home with 10% down payment, what will be your mortgage? Select one: a. $200,000 b. $180,000 c. $160,000 d. $140,000 e. $110,000 Feedback The correct answer is: $180,000 Question 2 Correct Mark 1.00 out of 1.00 Question text The purpose of disability insurance is to __________....

Which document should the counselor review with the client to identify spending habits and track expenses: - Bank statement Which additional information would the housing counselor need to prepare a household budget for this client? - Net income Which item in the client's budget is a fixed expense? - Car lease payment What is the maximum percent of area medium income allowable for a household to qualify for a Housing Choice Voucher? - 50% Which is the maximum recommended housing ratio fo...

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 is a fixed expense? - ANSWER Car lease payment 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 max...

BUS 2204 Personal Finance Quiz 6 2024 Questions and Answers (Score 100% Graded). Marks 20.00/20.00 Grade 100.00 out of 100.00 Question 1 Correct Mark 1.00 out of 1.00 Question text If you buy a $200,000 home with 10% down payment, what will be your mortgage? Select one: a. $200,000 b. $180,000 c. $160,000 d. $140,000 e. $110,000 Feedback The correct answer is: $180,000 Question 2 Correct Mark 1.00 out of 1.00 Question text The purpose of disability insurance is to __________....

Hud 2024 Updated Exam Q&A A client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The client has a lease on an apartment with his college friend. Their monthly rent on the apartment, which they split evenly, is $1,100. He has been working as a teacher for five ye...

CUNA FiCeP Certification Exam Questions & Revised Correct Detailed Answers GRADED PASS 1) What is a debt trend that has shifted over the years? - ANSWER Consumers once only limited their debt to mortgage and cars, however now people use credit cards to purchase low-priced items. 2) Which information is included on a credit report? - ANSWER Address. 3) Which is a step that can improve a credit score? - ANSWER older accounts rather than closing them. 4) What are 5...

It is important to make them feel __________ and __________ - Correct answercomfortable and welcomed __________ prompt someone to explore and analyze their emotions and feelings - Correct answer-Open-ended question __________ collect factual information - Correct answer-Closed-ended question Give __________ for responses time - Correct answer-time Questions should be asked in a ___________________________ way - Correct answer-non-judgmental It is important to ________________ your mentor...

1 FLORIDA REAL ESTATE EXAM QUESTIONS & ANSWERS, GRADED A+/ Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - -$1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has b...

A client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The client has a lease on an apartment with his college friend. Their monthly rent on the apartment, which they split evenly, is $1,100. He has been working as a teacher for five years and earns $50,000 a year. His div...

Loan-to-Value Ratio (LTV) - correct answer-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer-Covers more than one piece of property. Wraparound Mortgage - c...