Hud exam prep 2023 Study guides, Class notes & Summaries

HUD Exam Prep 2023 Solved correctly % Impact of Account Payment History on Credit Score 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 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 15% portion of score based don the overall length of credit history in...

HUD Exam Prep 2023/2024

HUD Exam Prep 2023 Solved And Graded A+ 1. Conventional Loan: Front end 28%/Back end 36% can go up to 43% (debt to income), min 3% DP, $548,250 max loan, PMI if LTV > 80%, Good credit: 640 FICO, May have interest only terms 2. FHA: Front end 31%/Back end 43%, min DP 3.5%, seller concessions 6% max, bad credit, bankruptcy: 2 years Ch 7 & 1 year filing Ch 13, MIP, 580 min score, assumable loan, 115% median house value 3. EEM (Energy) FHA: Front end 33% Back end 45% 4. VA: 41%, no m...

HUD Exam Prep 2023 Solved And Graded A+ 1. Conventional Loan: Front end 28%/Back end 36% can go up to 43% (debt to income), min 3% DP, $548,250 max loan, PMI if LTV > 80%, Good credit: 640 FICO, May have interest only terms 2. FHA: Front end 31%/Back end 43%, min DP 3.5%, seller concessions 6% max, bad credit, bankruptcy: 2 years Ch 7 & 1 year filing Ch 13, MIP, 580 min score, assumable loan, 115% median house value 3. EEM (Energy) FHA: Front end 33% Back end 45% 4. VA: 41%, no m...

HUD Exam Prep 2023 Solved correctly

HUD Exam Prep 100% SOLUTION 2023//2024 % 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 over...

HUD Exam Prep 2023 Solved And Graded A+

% Impact of Account Payment History on Credit Score 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 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 15% portion of score based don the overall length of credit history in the report, as well as ave...

Types of Credit Used Student loan or credit cards only FAKO scores purchase score which are educational score Fair Credit Reporting Act FCRA what 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 free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) dispute bill error/mail 60 days/creditor 30 days acknowledge and 90 days research. billed tim...