Hud counselor 2023 - Study guides, Class notes & Summaries

HUD Housing Counselor Exam Question and answers 2023/2024 verified to passAdjustable Rate Mortgage (ARM) - correct answer Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjusted Gross Income - correct answer Gross income minus adjustments, or reductions, that one is eligible for, such a...

HUD Housing Counselor Certification Practice Question and answers already passed 2023 What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - correct answer 50% Which is the maximum recommended housing ratio for renting an apartment? - correct answer 30% Eligibility requirements for down-payment assistance programs include which factors? - correct answer Income, home-buyer education, purchase price The client is con...

HUD Housing Counselor Module 4.1 & 4.2 Questions and Answers Latest (2023 / 2024) (Verified Answers)

HUD Counselor Certification Question and answers correctly solved 2023 Elements IN a Budget - correct answer -Pay Stubs. (For self employed -> profit + loss statements) -Bank Statement -Utility Bill -Soc. Sec. Award Letter -Credit Card Debt -Car Expenses -Child Support -Hobby Income (Avg.) Elements NOT in a Budget - correct answer -Stock Dividends -Annual Bonus -Reimbursements -Credit Score -Pretax Payroll Deduc. Which information should be included in a Client Action...

HECM Test Questions and Answers Latest 2023 With Verified Answers.A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above - ANSWER E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining...

HUD Housing Counselor Exam - 2023...

HUD Housing Counselor Certification Practice Exam Questions & Answers 2023/2024 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 maximum recommended housing ratio for renting an apartment? - ANSWER-30% Eligibility requirements for down-payment assistance programs include which factors? - ANSWER-Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is th...

HUD Housing Counselor Certification Practice;HUD Knowledge Assessment Questions and Answers 2023 with complete solution

HUD Certification Exam Questions & Answers 2023/2024 Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - ANSWER-Pay stub 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? ...