HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers

HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers 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 - Answer️️ -Federal Housing Administration (FHA) Which is the most significant benefit of using a real estate agent? - Marketing the home online - Obtaining a home inspection - Paying the sales commission - Negotiating the sale - Answer️️ -Negotiating the sale Which statement most accurately describes a member of the home buying team? - A real estate agent or broker is typically an attorney or works for an escrow company. S/he oversees the final transaction in property purchase, at which time the title is transferred from the seller to the buyer - The lender requires an assessment of the home by a home inspector before loan approval - An insurance agent is also known as a settlement agent - A home inspector is generally paid by the buyer - Answer️️ -A home inspector is generally paid by the buyer Which piece of advice would you give to clients as they begin the process of obtaining financing? - Never speak with lenders before setting on a home - Have all potential lenders pull credit within a 30-day window - Mortgages with adjustable rates are always best - Choose whichever lender is most prompt in returning your phone calls - Answer️️ -Have all potential lenders pull credit within a 30-day window All of the following is information necessary for your client to gather in preparation for filing out the URLA, excep