Hud housing Study guides, Class notes & Summaries

HUD Housing Counselor Certification Practice all done solution

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 the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? 1.75% If the client was denied a mortgage ...

HUD Housing Counseling Questions and Answers (Graded A) HUD Housing Counseling Questions and Answers (Graded A) HUD Housing Counseling Questions and Answers (Graded A) 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 - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? ...

HUD Housing Counselor Module 4.1 & 4.2 (GRADED A) Questions and Answer Elaborations

Rental Obstacle + Solutions: Low Income - ANSWER -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWER Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credi...

Back-end ratio - ANSWER 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 income equals 24%. Calculation: Deb...

HUD ACTUAL EXAM 2024/HUD HOUSING COUNSELOR CERTIFICATION FINAL EXAM/150 QUESTIONS AND CORRECT ANSWERS (GRADED A+) LATEST

HUD Housing Counseling Exam Civil Rights Act of 1866 - answerFederal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - answerbanned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - answeradded gender (sex) to the protected classes Fair Housing Amendments Act of 1988 - answerAdded Disability and familial status to protected classes. Rea...

HUD ACTUAL EXAM 2024/HUD HOUSING COUNSELOR CERTIFICATION FINAL EXAM/150 QUESTIONS AND CORRECT ANSWERS (GRADED A+) LATEST

HUD Housing Counseling Exam Question and answers rated A+ 2024 Back-end ratio - correct answer 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...