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HUD Exam Questions and Answers 100% Pass

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HUD Exam Questions and Answers 100% Pass Primary function of HUD - Correct Answer ️️ -Creating and managing programs to provide quality affordable housing, prevent housing discrimination and help build sustainable communities. HUD investigates complaints of housing discrimination based on? - Correct Answer ️️ -Race Color Religion National Origin Sex Disability Familial Status Programs offered by HUD include? - Correct Answer ️️ -Section 8 housing for low income families....

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HUD Housing Counselor Certification Practice Questions and Answers 100% Pass

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HUD Housing Counselor Certification Practice Questions and Answers 100% Pass What 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 i...

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HUD Practice Exam Questions and Answers 100% Pass

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HUD Practice Exam 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? - Correct Answer ️️ -List of Assets Retirement plan statement Pay stub X Current lease 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? -...

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HUD Exam Prep Questions and Answers 100% Pass

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HUD Exam Prep Questions and Answers 100% Pass % Impact of Account Payment History on Credit Score - Correct 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 - Correct 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 - Correct Answe...

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HUD Certification Exam Questions and Answers 100% Pass

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HUD Certification Exam 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 - Correct Answer ️️ -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 reac...

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HUD Housing Counselor Exam Questions and Answers 100% Pass

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HUD Housing Counselor Exam Questions and Answers 100% Pass Adjustable Rate Mortgage (ARM) - Correct Answer ️️ -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 - Correct Answer ️️ -Gross income minus adjustments, or reductions, that one is eligible for, such as...

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HUD Practice Test Questions with Correct Answers

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HUD Practice Test Questions with Correct Answers Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - Correct Answer ️️ -Pay Stub A client would like to 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? - Correct Answer ️️ -Find a second job A credit repor...

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HUD Exam Prep Questions and Answers 100% Pass

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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 -...

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HUD Housing Counseling Exam Questions and Answers 100% Pass

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HUD Housing Counseling Exam Questions and Answers 100% Pass 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 - Correct Answer ️️ -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 - Correct Answer ️️ -Net In...

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