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HUD 884
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Which action would a client take to improve a credit score?Pay delinquent accountsA client does not receive a written monthly statement from the credit card company. Which credit lawcould this omission violate?Fair Credit Billing ActA client shopping for a mortgage loan presents a housing counselor with an offer from a local mortgagelender. The interest rate on the offer is 7.5% for a 30-year fixed rate mortgage with a 20% downpayment required. The counselor reviews the client file and determine...
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Which action would a client take to improve a credit score?Pay delinquent accountsA client does not receive a written monthly statement from the credit card company. Which credit lawcould this omission violate?Fair Credit Billing ActA client shopping for a mortgage loan presents a housing counselor with an offer from a local mortgagelender. The interest rate on the offer is 7.5% for a 30-year fixed rate mortgage with a 20% downpayment required. The counselor reviews the client file and determine...
HUD Housing Exam (GRADED A) Questions and Answers(100% Correct Answers)
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HUD Housing Exam (GRADED A) Questions and Answers(100% Correct Answers)
HUD Practice Test 2023| 89 Questions with Correct Answers| Graded A
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HUD Practice Test 2023| 89 Questions with Correct Answers| Graded A
Housing Counselor Exam - Pre Assessment Questions With Complete Solutions. 
 
Which is an eligibility factor for the Earned Income Tax Credit? 
Receiving wages 
Which situation most likely indicates a loan modification scam? 
The client receives a letter from a company guaranteeing a loan modification 
Which was instituted by Congress to better protect homebuyers following the most recent housing crisis 
Consumer Finance Protection Bureau 
121 Which is an example of a change enacted by Consume...
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HUD HOUSING COUNSELOR EXAM PACKAGE DEAL!!• By LectDan
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Housing Counselor Exam - Pre Assessment Questions With Complete Solutions. 
 
Which is an eligibility factor for the Earned Income Tax Credit? 
Receiving wages 
Which situation most likely indicates a loan modification scam? 
The client receives a letter from a company guaranteeing a loan modification 
Which was instituted by Congress to better protect homebuyers following the most recent housing crisis 
Consumer Finance Protection Bureau 
121 Which is an example of a change enacted by Consume...
HUD Housing Counseling Exam 2023/2024 
 
Back-end ratio 
The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...
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HUD Housing Counseling Exam 2023/2024 
 
Back-end ratio 
The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...
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...
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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...
HUD Housing Counseling Exam Correctly Solved 100% Correct!! 
 
Civil Rights Act of 1866 
Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) 
Fair Housing Act of 1968 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) 
Housing and Community Development Act of 1974 
added gender (sex) to the protected classes 
Fair Housing Amendments Act of 1988 
Added Disability and familial status to protected classes. 
R...
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HUD Housing Counseling Exam Correctly Solved 100% Correct!! 
 
Civil Rights Act of 1866 
Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) 
Fair Housing Act of 1968 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) 
Housing and Community Development Act of 1974 
added gender (sex) to the protected classes 
Fair Housing Amendments Act of 1988 
Added Disability and familial status to protected classes. 
R...
HUD Housing Counseling (HUD Housing Counseling Certification Exam) Latest Questions With Correct Answers. 
 
Which document should the counselor review with the client to identify spending habits and track expenses? 
 
A. Credit report 
B. Pay stubs 
C. Bank Statement 
D. Tax returns 
Bank Statement 
Which additional information would the housing counselor need to prepare a household budget for this client? 
 
A. Net Income 
B. Lease Documentation 
C. Credit Score 
D. Bankruptcy Discharge 
Net I...
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HUD Housing Counseling (HUD Housing Counseling Certification Exam) Latest Questions With Correct Answers. 
 
Which document should the counselor review with the client to identify spending habits and track expenses? 
 
A. Credit report 
B. Pay stubs 
C. Bank Statement 
D. Tax returns 
Bank Statement 
Which additional information would the housing counselor need to prepare a household budget for this client? 
 
A. Net Income 
B. Lease Documentation 
C. Credit Score 
D. Bankruptcy Discharge 
Net I...
HUD Housing Counselor Exam Questions With Complete Solutions. 
 
Adjustable Rate Mortgage (ARM) 
Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. 
Adjusted Gross Income 
Gross income minus adjustments, or reductions, that one is eligible for, such as deductions for unreimbursed business expenses, ...
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HUD HOUSING COUNSELOR EXAM PACKAGE DEAL!!• By LectDan
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HUD Housing Counselor Exam Questions With Complete Solutions. 
 
Adjustable Rate Mortgage (ARM) 
Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. 
Adjusted Gross Income 
Gross income minus adjustments, or reductions, that one is eligible for, such as deductions for unreimbursed business expenses, ...
HUD Housing Counselor Certification Practice (HUD Knowledge Assessment) Questions And Answers Already Graded A+ 
 
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? 
50% 
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 ...
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HUD HOUSING COUNSELOR EXAM PACKAGE DEAL!!• By LectDan
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HUD Housing Counselor Certification Practice (HUD Knowledge Assessment) Questions And Answers Already Graded A+ 
 
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? 
50% 
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 ...