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HUD HOUSING COUNSELOR CERTIFICATION EXAM 2024 ACTUAL EXAM COMPLETE 270 QUESTIONS WITH DETAILED VERIFIED ANSWERS BEST REVISION MATERIAL ALREADY GRADED A+$24.99
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HUD HOUSING COUNSELOR CERTIFICATION EXAM 2024 ACTUAL EXAM
COMPLETE 270 QUESTIONS WITH DETAILED VERIFIED ANSWERS BEST
REVISION MATERIAL ALREADY GRADED A+
In reviewing a loan estimate, the housing counselor finds fees for
services that seem unnecessary. What is the most likely
explanation for these fees? Choose one:
The client thinks her cost of living is going to be the same because
her mortgage payment and her rental payment are comparable.
What are three recurring costs associated with home-ownership
that are not part of home rental?
A- Homeowners insurance, property taxes, home repairs
,2|Page
B- Property taxes, renters insurance, utility bill
C- Utility bill, car insurance, renters insurance
D- Car insurance, property taxes, cable bill - CORRECT ANSWER
>>>>Homeowners insurance, property taxes, home repairs
Which additional information should the housing counselor request
from the client to determine her readiness to purchase a home?
Choose One:
A- Planned family size
B- Current lease
C- Pre-qualification letter
D- Expenses - CORRECT ANSWER >>>>D- Expenses
A client has been a paralegal for five years and earns $56,400 per
year. She has been working part-time at an ice cream parlor for the
past few summers to save for her first home. Now that she has
saved $12,000 toward a down payment, she no longer needs to
work a second job. In the next three months, the client would like
to buy a single-family home near a good school for less than
$150,000.
What is this client's maximum mortgage payment if the lender's
housing ratio is 28 percent (round to the - CORRECT ANSWER
>>>>$1,316
Which is the minimum percentage of the purchase price that the
client needs to make as a down payment to avoid having to pay
mortgage insurance with a conventional mortgage? - CORRECT
ANSWER >>>>20%
,3|Page
Which factor determines whether the client will have to pay private
mortgage insurance versus mortgage
insurance premium?
A- Size of loan
B- Credit score
C- Type of loan
D- Loan-to-value ratio - CORRECT ANSWER >>>>C- Type of loan
The client would like to purchase a single-family home. Prices in the
area where she would like to live are around $450,000. She has
$45,000 left from the life insurance settlement and she has saved
an additional $5,000. She typically saves $500 per month, but when
she has unexpected expenses she is unable to save. Because she
takes her children to school, she usually stops on her way to work
for breakfast.
A- Earned Income Tax Credit
B- Child and Dependent Care Tax Credit
C- Energy tax credit - CORRECT ANSWER >>>>B- Child and
Dependent Care Tax Credit
The client currently keeps the $45,000 remaining from the life
insurance settlement in a regular checking
account. Her goal is to use this money towards her down payment.
Which action should the housing counselor suggest to this client?
A- Move the funds into a mutual fund
B- Move funds to a large purchase savings account with limited
accessibility
C- Leave the money in her current checking account for easy access
, 4|Page
D- Move funds into a long-term Certificate of Deposit - CORRECT
ANSWER >>>>Move funds to a large purchase savings account with
limited accessibility
The client wants to move her family to a lower-priced rental unit to
save money for a home, but is struggling with the upfront fees
required to move to a new apartment complex. Which strategy
would be most effective to help the client secure affordable
housing and cover moving expenses quickly?
A- Submit application for a housing voucher
B- Find an individual landlord and negotiate
C- Save for the move instead of paying utilities
D- Apply for a loan to cover expenses - CORRECT ANSWER >>>>Find
an individual landlord and negotiate
Which type of lease and tenancy best protects the tenant?
A- An oral lease with tenancy at will
B- A written lease with contractual tenancy
C- A written lease with tenancy at will
D- An oral lease with tenancy at sufferance - CORRECT ANSWER
>>>>A written lease with contractual tenancy
The client wants to purchase a new home, but her lease might
expire before she can move into it. Which is the
best advice for the housing counselor to provide?
A- Discuss a tenancy-at-sufferance agreement with the current
landlord
B- Stay in her current unit until the landlord evicts her
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