Hud exam prep - Study guides, Class notes & Summaries

% Impact of Account Payment History on Credit Score - 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 - 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 - ANSWER 15% portion of score based don the overall length of credit history in the repor...

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...

HUD Exam Prep Correct Questions and 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 li...

Types of Credit Used correct answerStudent loan or credit cards only FAKO scores correct answerpurchase score which are educational score Fair Credit Reporting Act FCRA correct answerwhat is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA correct answerfree cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) correct answerdispute bill error/mail 60 days/creditor 30 days ...

HUD Exam Prep 2024 WITH CORRECT ANSWERS 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, competitiv...

HUD Exam Prep complete update.

HUD Exam Prep |Question and Answer| 100% Correct 2024/2025 % Impact of Account Payment History on Credit Score *Ans* 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 *Ans* 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 *Ans* 15% portion of score based don...

HUD Exam Prep

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