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HUD Exam- Homeownership Questions and Answers 100% Pass
HUD Exam- Homeownership Questions and Answers 100% Pass Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - Correct Answer ️️ -D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage com...
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- • 14 pages •
HUD Exam- Homeownership Questions and Answers 100% Pass Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - Correct Answer ️️ -D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage com...
HUD Housing Exam Questions and Answers 100% Pass
HUD Housing Exam Questions and Answers 100% Pass 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 allo...
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- • 16 pages •
HUD Housing Exam Questions and Answers 100% Pass 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 allo...
HUD Housing Counseling Exam Questions and Answers 100% Pass
HUD Housing Counseling Exam Questions and Answers 100% Pass Civil Rights Act of 1866 - Correct Answer ️️ -Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Correct Answer ️️ -banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - Correct Answer ️️ -added gender (sex) to the protected classes Fair Housing Amendments ...
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- • 49 pages •
HUD Housing Counseling Exam Questions and Answers 100% Pass Civil Rights Act of 1866 - Correct Answer ️️ -Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Correct Answer ️️ -banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - Correct Answer ️️ -added gender (sex) to the protected classes Fair Housing Amendments ...
HUD Housing Counselor Certification Practice Questions with 100% Correct Answers
HUD Housing Counselor Certification Practice Questions with 100% Correct Answers 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 considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Correct Answer ️️ -1.75% If ...
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- • 49 pages •
HUD Housing Counselor Certification Practice Questions with 100% Correct Answers 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 considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Correct Answer ️️ -1.75% If ...
HUD Exam - Financial Management Questions and Answers 100% Pass
HUD Exam - Financial Management Questions and Answers 100% Pass All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - Correct Answer ️️ -Answer: A Since the car is paid off, the expense does not need to be included in the new budget. All of the following are reasons why it is important for a client to track income and expense...
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- • 6 pages •
HUD Exam - Financial Management Questions and Answers 100% Pass All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - Correct Answer ️️ -Answer: A Since the car is paid off, the expense does not need to be included in the new budget. All of the following are reasons why it is important for a client to track income and expense...
Housing Counselor Exam Prep Questions and Answers 100% Pass
Housing Counselor Exam Prep Questions and Answers 100% Pass Default - Correct Answer ️️ -When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - Correct Answer ️️ -Monthly housing expenses/gross monthly income Front-End Ratio maximums - Correct Answer ️️ -28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation - Correct Answer ️️ -total monthly debt expenses/gross monthly incom...
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- Exam (elaborations)
- • 14 pages •
Housing Counselor Exam Prep Questions and Answers 100% Pass Default - Correct Answer ️️ -When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - Correct Answer ️️ -Monthly housing expenses/gross monthly income Front-End Ratio maximums - Correct Answer ️️ -28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation - Correct Answer ️️ -total monthly debt expenses/gross monthly incom...
HUD GUIDELINES EXAM QUESTIONS AND ANSWERS 100% PASS
HUD GUIDELINES EXAM QUESTIONS AND ANSWERS 100% PASS lead poisoning causes: - Correct Answer ️️ -coma, convulsions, death lead - Correct Answer ️️ -heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. Most at risk population for lead poisoning - Correct Answer ️️ -< 6 years old Neuro-toxic effects from lead: - Correct Answer ️️ -low IQ, attention deficit, learning/reading disabilities, hyperactivi...
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- • 9 pages •
HUD GUIDELINES EXAM QUESTIONS AND ANSWERS 100% PASS lead poisoning causes: - Correct Answer ️️ -coma, convulsions, death lead - Correct Answer ️️ -heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. Most at risk population for lead poisoning - Correct Answer ️️ -< 6 years old Neuro-toxic effects from lead: - Correct Answer ️️ -low IQ, attention deficit, learning/reading disabilities, hyperactivi...
HUD Housing Counselor Module- Avoiding Foreclosure Exam Questions and Answers 100% Pass
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 ...
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- • 17 pages •
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 Questions with 100% Correct Answers | 43 Pages
HUD Housing Counselor Certification Practice Questions with 100% Correct Answers | 43 Pages 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 consid...
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- Exam (elaborations)
- • 43 pages •
HUD Housing Counselor Certification Practice Questions with 100% Correct Answers | 43 Pages 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 consid...
HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers
HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers A potential homebuyer with a minimal savings for a down payment and a low credit score is most likely to qualify for which mortgage? - United States Department of Agriculture (USDA) - Federal Housing Administration (FHA) - Fannie Mae - Freddie Mac - Answer️️ -Federal Housing Administration (FHA) Which is the most significant benefit of using a real estate agent? - Marketing the home online - Obtaining a home inspection ...
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- • 15 pages •
HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers A potential homebuyer with a minimal savings for a down payment and a low credit score is most likely to qualify for which mortgage? - United States Department of Agriculture (USDA) - Federal Housing Administration (FHA) - Fannie Mae - Freddie Mac - Answer️️ -Federal Housing Administration (FHA) Which is the most significant benefit of using a real estate agent? - Marketing the home online - Obtaining a home inspection ...
Earth Science Exam Review 2024 with Complete Solutions
Hondros Nursing 172 Exam 2 Questions and Answers 100% Pass
Oregon Pesticide Examination: Ornamental and Turf Herbicide Questions and Answers 100% Pass
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
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