Package deal for HUD Housing Counselor Certification Practice Questions with 100% Correct Answers 2023

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 ...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, d...

A client would like to purchase a house 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 2) Six months ago a client le...

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 o...

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...

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 in...

Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) - Correct answer-Civil Rights Act of 1866 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) - Correct answer-Fair Housing Act of 1968 added gender (sex) ...

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 in...