Eem energy fha Study guides, Class notes & Summaries

HUD Certification Questions and Answers 100% Pass 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 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? Find a second job Bo...

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%

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...

HUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% Correct 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, ...

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, competitive rates. Bellow 115% median income. Loan...

HUD Exam Prep Questions and Answers 100% Pass Conventional Loan - Correct 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 - Correct Answer ️️ -Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - Correct Answer ️️ -Front end 33% Back end 45% VA - Correct Answer ️️ -41% USDA -...

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...

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...

Hud 2024 Updated Exam Q&A 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 ye...

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...