Hud exam prep 2024 stuvia - Study guides, Class notes & Summaries

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, ...

% 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...

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% Back End 41%, low-to-moderate income, must live rural area, no down payment, comp...