Front end ratio Study guides, Class notes & Summaries
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HUD 2024 Practice Exam Correct Questions & Answers!!
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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...
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HUD Certification Exam with 100% Correct Answers 2023
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Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of 
real estate 
Redlining - Correct answer-The practice of refusing to make residential loans or 
imposing more onerous terms on any loans made because of the predominant race, 
color, national origin, religion, sex, disability, or familial status of the area's residents. 
Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin 
Luther King Jr., Congress passed what monumental piece of ...
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HUD Housing Counseling Exam 100% Accurate!!
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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 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 income equals 24%. 
Calculation: 
Deb...
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HUD Exam Prep Correct Questions & Answers!!
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Conventional Loan - ANSWER 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 - ANSWER Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
EEM (Energy) FHA - ANSWER Front end 33% 
Back end 45% 
 
VA - ANSWER 41% 
 
USDA - ANSWER Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down payment, comp...
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HUD Housing Counselor Study Guide Exam And Verified Answers 2024.
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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 Administration) Ratio - Answer 31% / 43% 
 
EEM - Energy Efficent Mort - Answer 33% / 45% 
 
VA - Answer 41% (must include child care with other debts) 
 
MIP - Answer Mortgage Insura...
Too much month left at the end of the money?
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Z-51 Written Exam Questions and Complete Solutions.
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Z-51 Written Exam Questions and Complete Solutions 
 
In a steam turbine, what is the function of a Kingsbury thrust bearing? 
 
A) Maintain first stage steam pressure. 
B) Compensate for coupling misalignment. 
C) Adjust shaft torque at start up. 
D) Maintain axial positioning of the rotor shaft. - Answer: D) Maintain axial positioning of the rotor shaft. 
 
The ratio of actual pressure of water pressure in the atmosphere to the saturated pressure of given temperature is 
 
A) partial pressure....
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HUD Midterm Exam Questions With All Correct Answers 2024.
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Conventional Loan - Answer 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 - Answer Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
EEM (Energy) FHA - Answer Front end 33% 
Back end 45% 
 
VA - Answer 41% 
 
USDA - Answer Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down pay...
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HUD Housing Counseling Exam 2023/2024
- Exam (elaborations) • 34 pages • 2023
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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 2024 Practice Exam accurate Questions & Answers(RATED A+)
- Exam (elaborations) • 33 pages • 2024
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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...
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HUD Housing Counselor Certification Practice Exam Chamberlain
- Exam (elaborations) • 43 pages • 2023
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What is the maximum percent of area median income allowable for a household to qualify for a Housing 
Choice Voucher? 
50% 
Which is the maximum recommended housing ratio for renting an apartment? 
30% 
Eligibility requirements for down-payment assistance programs include which factors? 
Income, home-buyer education, purchase price 
The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) 
for an 
FHA mortgage? 
1.75% 
If the client was denied a mortgage ...
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