HUD Test 1 | 160 Questions with 100% Correct Answers | Verified | Latest Update 2024

Which document should the counselor review with the client to identify spending habits and track expenses? - Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? - Net income Which item in the client's budget is a fixed expense? - Car lease payment What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - 50% Which is the maximum recommended housing ratio for renting an apartment? - 30% Eligibility requirement for down payment assistance programs include which factors? - Income, homebuyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for a FHA mortgage? - 1.75% (UFMIP)