HUD Latest Test Questions And 100% Correct Answers 2024.

Which document should the counselor review with the client to identify spending habits and track expenses? - Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? - Answer Net income Which item in the client's budget is a fixed expense? - Answer Car lease payment What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer 50% Which is the maximum recommended housing ratio for renting an apartment? - Answer 30% Eligibility requirement for down payment assistance programs include which factors? - Answer Income, homebuyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for a FHA mortgage? - Answer 1.75% (UFMIP) The annual MIP (Mortgage Insurance Premium) for FHA mortgages ranges? - Answer between 0.8% and 1.05%. USDA loans charge up front Grantee Fee ? - Answer 2% The client decides to purchase a townhouse through a down payment assistance program with a recapture clause. Three years later, the client remarries, and his wife owns a single family home. Which