Hud housing counselo Study guides, Class notes & Summaries

HUD Housing Counselor Certification Practice Question and answers already passed 2023/2024What 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 co...

Housing Counselor Exam Prep Questions & Answers Already Passed!! Default When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation Monthly housing expenses/gross monthly income Front-End Ratio maximums 28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation total monthly debt expenses/gross monthly income Back-End Ratio Caps 36% for conventional loans and renters, 43% for FHA, 45% for Energy E...

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? - AnswerIncome, home-buyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Answer-1.75% If th...

Hud Housing Counselor Final Exam 2024 Questions And Answers Which document should the counselor review with the client to identify spending habits and track expenses: - CORRECT ANSWER-Bank statement Which additional information would the housing counselor need to prepare a household budget for this client? - CORRECT ANSWER-Net income Which item in the client's budget is a fixed expense? - CORRECT ANSWER-Car lease payment What is the maximum percent of area medium income allowable for...

HUD HOUSING COUNSELOR CERTIFICATION PRACTICE

HUD Housing Counselor Module- Avoiding Foreclosure Exam Questions and Answers 100% Pass Which of the following did NOT contribute to the increase in foreclosure rates during the mortgage crisis? - Risky loan products with features like negative amortization - Homeowners paying off mortgages early - Aggressive marketing of Home Equity Line of Credits (HELOC) - Using teaser rates to qualify more borrowers - Correct Answer ️️ -Homeowners paying off mortgages early This program made it ...

HUD Housing Counselor Certification Practice Exam Questions with Correct Verified Answers, Already Passed! (Complete & Accurate) HUD Housing Counselor Certification Practice Exam Questions with Correct Verified Answers, Already Passed! (Complete & Accurate) HUD Housing Counselor Certification Practice Exam Questions with Correct Verified Answers, Already Passed! (Complete & Accurate) HUD Housing Counselor Certification Practice Exam Questions with Correct Verified Answers, Already Passe...

HUD Housing Counselor Certification Practice Questions and answers latest update 2024

HUD Housing Counselor Exam Questions and Answers (Latest Update 2024)

HUD Housing Counselor Certification Practice All Answers Correct 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 loan and the lender told him to come back after his di...