Package deal
HUD BUNDLED Exam 2023 with 100% correct answers
HUD Practice Exam 2023 with 100% correct answers HUD Housing Counselor Certification Practice exam 20223 with 100% correct answers
[Show more]HUD Practice Exam 2023 with 100% correct answers HUD Housing Counselor Certification Practice exam 20223 with 100% correct answers
[Show more]Which describes the legally enforceable terms that govern the use of real estate? 
 
- Residential security restrictions 
- Deed restrictions 
- Redlined Maps 
- Government-sponsored deeds - correct answerDeed Restrictions 
 
Which is the practice of refusing to make residential loans or imposing m...
Preview 2 out of 9 pages
Add to cartWhich describes the legally enforceable terms that govern the use of real estate? 
 
- Residential security restrictions 
- Deed restrictions 
- Redlined Maps 
- Government-sponsored deeds - correct answerDeed Restrictions 
 
Which is the practice of refusing to make residential loans or imposing m...
Back-end ratio - correct answerThe 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....
Preview 4 out of 43 pages
Add to cartBack-end ratio - correct answerThe 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....
Rental Obstacle + Solutions: Low Income - correct 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 - corre...
Preview 4 out of 61 pages
Add to cartRental Obstacle + Solutions: Low Income - correct 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 - corre...
Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) - correct answerCivil Rights Act of 1866 
 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) - correct answerFair Housing Act of 1968 
 
added gender (sex) ...
Preview 4 out of 31 pages
Add to cartFederal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) - correct answerCivil Rights Act of 1866 
 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) - correct answerFair Housing Act of 1968 
 
added gender (sex) ...
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 answerBank Statement 
 
Which additional information would the housing counselor need to prepare a household budge...
Preview 2 out of 13 pages
Add to cartWhich 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 answerBank Statement 
 
Which additional information would the housing counselor need to prepare a household budge...
Front end ratio (parts) - correct answerMonthly Housing Expense / Gross Income 
 
Back End Ratio (parts) - correct answerMonthly housing+debt (on credit report - car loan, credit cards & etc) / Gross Income 
 
Renter Ratio - correct answer30% / 36% 
 
Conventional Ratio - correct answer28% / 36% 
 
...
Preview 2 out of 8 pages
Add to cartFront end ratio (parts) - correct answerMonthly Housing Expense / Gross Income 
 
Back End Ratio (parts) - correct answerMonthly housing+debt (on credit report - car loan, credit cards & etc) / Gross Income 
 
Renter Ratio - correct answer30% / 36% 
 
Conventional Ratio - correct answer28% / 36% 
 
...
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - correct answer50% 
 
Which is the maximum recommended housing ratio for renting an apartment? - correct answer30% 
 
Eligibility requirements for down-payment assistance programs in...
Preview 4 out of 36 pages
Add to cartWhat is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - correct answer50% 
 
Which is the maximum recommended housing ratio for renting an apartment? - correct answer30% 
 
Eligibility requirements for down-payment assistance programs in...
What act are limited english proficiency persons protected under? - correct answertitle VI of the civil rights act of 1964 
 
Which act was passed in 1866? - correct answerthe civil rights act of 1866 
 
What did the civil rights act of 1866 bill declare? - correct answer"all persons born in the Un...
Preview 2 out of 7 pages
Add to cartWhat act are limited english proficiency persons protected under? - correct answertitle VI of the civil rights act of 1964 
 
Which act was passed in 1866? - correct answerthe civil rights act of 1866 
 
What did the civil rights act of 1866 bill declare? - correct answer"all persons born in the Un...
Default - correct answerWhen no payments made after 60 to 90 days... 30 for FHA loans 
 
Front-End Ratio Equation - correct answerMonthly housing expenses/gross monthly income 
 
Front-End Ratio maximums - correct answer28% or less - conventional loan 
31% or less for FHA, 30% or less for rentals 
 ...
Preview 2 out of 12 pages
Add to cartDefault - correct answerWhen no payments made after 60 to 90 days... 30 for FHA loans 
 
Front-End Ratio Equation - correct answerMonthly housing expenses/gross monthly income 
 
Front-End Ratio maximums - correct answer28% or less - conventional loan 
31% or less for FHA, 30% or less for rentals 
 ...
Adjustable Rate Mortgage (ARM) - correct answerAdjustable 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. 
 ...
Preview 2 out of 8 pages
Add to cartAdjustable Rate Mortgage (ARM) - correct answerAdjustable 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. 
 ...
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 - correct answerFederal Housing Administration...
Preview 2 out of 13 pages
Add to cartA 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 - correct answerFederal Housing Administration...
the purpose of tracking your money - correct answerto help you achieve your financial goals 
 
documents to use when tracking income - correct answer- paychecks 
- direct deposit slips 
- if self-employed, income and expenses sheet 
- if self-employed, profit and loss statements 
- additional income...
Preview 3 out of 21 pages
Add to cartthe purpose of tracking your money - correct answerto help you achieve your financial goals 
 
documents to use when tracking income - correct answer- paychecks 
- direct deposit slips 
- if self-employed, income and expenses sheet 
- if self-employed, profit and loss statements 
- additional income...
Which document should the counselor review with the client to identify spending habits and track expenses: - correct answerBank statement 
 
Which additional information would the housing counselor need to prepare a household budget for this client? - correct answerNet income 
 
Which item in the cl...
Preview 2 out of 13 pages
Add to cartWhich document should the counselor review with the client to identify spending habits and track expenses: - correct answerBank statement 
 
Which additional information would the housing counselor need to prepare a household budget for this client? - correct answerNet income 
 
Which item in the cl...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - correct answerList 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 h...
Preview 2 out of 11 pages
Add to cartWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - correct answerList 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 h...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller JUICYGRADES. Stuvia facilitates payment to the seller.
No, you only buy these notes for $40.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now