Hud exa - Study guides, Class notes & Summaries

HUD Exa Question and answers correctly solved 2024 All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insura...

% 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 answer-15% portion of score based don the overall length of credit ...

Conventional Loan - 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 - ANSWER Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - ANSWER Front end 33% Back end 45% VA - ANSWER 41% USDA - ANSWER Front End 29%

Telephone Customer Services: correct answerAssistance provided by the financial institution over the phone to help customers with banking complications. Mobile Banking: correct answerAllows clients to utilize banking services with mobile technology. Services often included in mobile banking include a view of up-to-date transactions, fund transfers, or remote check deposits. Overdraft Fee correct answerFee charged when an account does not have enough money to cover a purchase and the financ...

HUD Exam Prep Complete Solutions % Impact of Account Payment History on Credit Score ️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 ️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 ️15% portion of score based don the overall length of credit ...

% Impact of Account Payment History on Credit Score - 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 - 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 - ANSWER 15% portion of score based don the overall length of credit history in the repor...

HUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% CorrectHUD Exam Prep 2024 Questions and Answers 100% Correct Conventional Loan - 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 - ANSWER-Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, ...

Hud Exam Prep 2024 With Complete Solutions Latest Update

HUD Exam- Homeownership Questions and Answers 100% Pass Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - Correct Answer ️️ -D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage com...