HUD Housing Counseling Certification Exam 2023 Questions and Answers 100% Verified Graded A+

Which document should the counselor review with the client to identify spending habits and track expenses? A. Credit report B. Pay stubs C. Bank Statement D. Tax returns - Correct Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? A. Net Income B. Lease Documentation C. Credit Score D. Bankruptcy Discharge - Correct Answer Net Income Which item in the client's budget is a fixed expense? A. Food B. Gasoline C. Car Lease Payment D. Utilities - Correct Answer Car Lease Payment What is the maximum percent of area median income allowable for household to qualify for a Housing Choice Voucher? - Correct Answer 50% Which is the the maximum recommended housing ratio for renting an apartment? - Correct Answer 30% Eligibility requirements for downpayment assistance programs include which factors? - Correct Answer Income, homebuyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage premium (UFMIP) for a FHA mortgage? - Correct Answer 1.75% 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 situation might cause accelerated loan payment? A. Client moves to his wife's home and the townhouse loan is assumed