HUD Housing Counselor Certification Pra
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ctice Exam With 100% Correct Answers 20 n n n n n n
24
What is the maximum percent of area median income allowable
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for a household to qualify for a Housing Choice Voucher? -
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Correct Answer-50%
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Which is the maximum recommended housing ratio for renting
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an apartment? - Correct Answer-30%
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Eligibility requirements for down- n n n
payment assistance programs include which factors? -n n n n n n
Correct Answer-Income, home-
n n n
buyer education, purchase price
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The client is considering an FHA mortgage. What is the upfront
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mortgage insurance premium (UFMIP) for an n n n n n
FHA mortgage? - Correct Answer-1.75%
n n n n
If the client was denied a mortgage loan and the lender told him
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to come back after his divorce had been final for three years, wh
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at is the best advice for the housing counselor to provide to the c
n n n n n n n n n n n n n
,lient to report a violation to ECOA? - Correct Answer-
n n n n n n n n n
Contact the Federal Trade Commission as the lender's action mi
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ght violate the Equal Credit Opportunity Act
n n n n n n
A question from a lender on the client's Medical History would b
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e inappropriate or appropriate? - Correct Answer-Inappropriate
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Who is responsible for educating home-
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buyers about their rights? - Correct Answer-Housing Counselor
n n n n n n n
In order to minimize the impact on the client's credit score, wha
n n n n n n n n n n n
t is the maximum time frame within which the client should app
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ly for pre-approval from multiple lenders? - Correct Answer-
n n n n n n n n
A 30-day period
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What are the responsibilities of a home inspector? -
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Correct Answer-
n n
Examine mechanical systems, Evaluate the condition of a home,
n n n n n n n n
Identify items to be repaired or replaced
n n n n n n n
Which is the best reason that a housing counselor would sugges
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t that a client speak to three to five different lenders? -
n n n n n n n n n n n
Correct Answer-To compare loan estimates
n n n n n
,Which is the best advice that a housing counselor can give the cli
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ent to protect against identity theft? - Correct Answer-
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Review credit report at least once per year
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The client tells the lender that he is expecting a raise soon. Shoul
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d the Lender provide a Loan Estimate (LE) with, or without facto
n n n n n n n n n n n
ring the raise? - Correct Answer-
n n n n n
Provide a loan estimate without factoring in the raise
n n n n n n n n
If this client obtains a mortgage of $100,000, typically, how muc
n n n n n n n n n n
h should he expect to pay for closing costs? - Correct Answer-
n n n n n n n n n n n
$3000 to $4000 n n
Is Application Fee an upfront cost of clients who are considering
n n n n n n n n n n n
renting or buying a property? - Correct Answer-Renting
n n n n n n n
A client wants to customize his home with do-it-
n n n n n n n n
yourself projects, this is an indication the client is best aligned w
n n n n n n n n n n n
ith which housing option; Home-ownership or Renting? -
n n n n n n n
nCorrect Answer-Home-ownership n
, The client's gross monthly income is $4167 and the monthly deb
n n n n n n n n n n
ts are $435. What is the maximum mortgage payment (rounded
n n n n n n n n n n
to the nearest dollar) for which this client would qualify using a s
n n n n n n n n n n n n
tandard conventional loan? - Correct Answer-$1,065
n n n n n
NOTE: The maximum front-
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end ratio for a standard conventional loan is 28%, and the back-
n n n n n n n n n n n
end ratio is 36%. The front-
n n n n n
end ratio is calculated as 28% of the client's monthly income of $
n n n n n n n n n n n n
4,167, which is $1,167. The back-
n n n n n
end ratio is calculated as 36% of the
n n n n n n n
client's monthly income of $4,167 minus the client's monthly de
n n n n n n n n n
bt of $435, which equals $1,065. Therefore, the maximum loan
n n n n n n n n n n
payment that the client qualifies for is the lower of the two num
n n n n n n n n n n n n
bers, which is $1,065.
n n n
Which is the maximum debt-to-
n n n n
income ratio allowable for an FHA loan? - Correct Answer-43%
n n n n n n n n n
Which is the maximum debt-to-
n n n n
income ratio allowable for an FHA Energy Efficiency Mortgage lo
n n n n n n n n n
an? - Correct Answer-45%
n n n
The client's gross monthly income is $4167 and the monthly deb
n n n n n n n n n n
ts are $435. With a monthly mortgage payment of $950, which i
n n n n n n n n n n n
n n n n
ctice Exam With 100% Correct Answers 20 n n n n n n
24
What is the maximum percent of area median income allowable
n n n n n n n n n
for a household to qualify for a Housing Choice Voucher? -
n n n n n n n n n n n
Correct Answer-50%
n n
Which is the maximum recommended housing ratio for renting
n n n n n n n n n
an apartment? - Correct Answer-30%
n n n n
Eligibility requirements for down- n n n
payment assistance programs include which factors? -n n n n n n
Correct Answer-Income, home-
n n n
buyer education, purchase price
n n n
The client is considering an FHA mortgage. What is the upfront
n n n n n n n n n n n
mortgage insurance premium (UFMIP) for an n n n n n
FHA mortgage? - Correct Answer-1.75%
n n n n
If the client was denied a mortgage loan and the lender told him
n n n n n n n n n n n n n
to come back after his divorce had been final for three years, wh
n n n n n n n n n n n n
at is the best advice for the housing counselor to provide to the c
n n n n n n n n n n n n n
,lient to report a violation to ECOA? - Correct Answer-
n n n n n n n n n
Contact the Federal Trade Commission as the lender's action mi
n n n n n n n n n
ght violate the Equal Credit Opportunity Act
n n n n n n
A question from a lender on the client's Medical History would b
n n n n n n n n n n n
e inappropriate or appropriate? - Correct Answer-Inappropriate
n n n n n n
Who is responsible for educating home-
n n n n n
buyers about their rights? - Correct Answer-Housing Counselor
n n n n n n n
In order to minimize the impact on the client's credit score, wha
n n n n n n n n n n n
t is the maximum time frame within which the client should app
n n n n n n n n n n n
ly for pre-approval from multiple lenders? - Correct Answer-
n n n n n n n n
A 30-day period
n n
What are the responsibilities of a home inspector? -
n n n n n n n n
Correct Answer-
n n
Examine mechanical systems, Evaluate the condition of a home,
n n n n n n n n
Identify items to be repaired or replaced
n n n n n n n
Which is the best reason that a housing counselor would sugges
n n n n n n n n n n
t that a client speak to three to five different lenders? -
n n n n n n n n n n n
Correct Answer-To compare loan estimates
n n n n n
,Which is the best advice that a housing counselor can give the cli
n n n n n n n n n n n n
ent to protect against identity theft? - Correct Answer-
n n n n n n n n
Review credit report at least once per year
n n n n n n n
The client tells the lender that he is expecting a raise soon. Shoul
n n n n n n n n n n n n
d the Lender provide a Loan Estimate (LE) with, or without facto
n n n n n n n n n n n
ring the raise? - Correct Answer-
n n n n n
Provide a loan estimate without factoring in the raise
n n n n n n n n
If this client obtains a mortgage of $100,000, typically, how muc
n n n n n n n n n n
h should he expect to pay for closing costs? - Correct Answer-
n n n n n n n n n n n
$3000 to $4000 n n
Is Application Fee an upfront cost of clients who are considering
n n n n n n n n n n n
renting or buying a property? - Correct Answer-Renting
n n n n n n n
A client wants to customize his home with do-it-
n n n n n n n n
yourself projects, this is an indication the client is best aligned w
n n n n n n n n n n n
ith which housing option; Home-ownership or Renting? -
n n n n n n n
nCorrect Answer-Home-ownership n
, The client's gross monthly income is $4167 and the monthly deb
n n n n n n n n n n
ts are $435. What is the maximum mortgage payment (rounded
n n n n n n n n n n
to the nearest dollar) for which this client would qualify using a s
n n n n n n n n n n n n
tandard conventional loan? - Correct Answer-$1,065
n n n n n
NOTE: The maximum front-
n n n
end ratio for a standard conventional loan is 28%, and the back-
n n n n n n n n n n n
end ratio is 36%. The front-
n n n n n
end ratio is calculated as 28% of the client's monthly income of $
n n n n n n n n n n n n
4,167, which is $1,167. The back-
n n n n n
end ratio is calculated as 36% of the
n n n n n n n
client's monthly income of $4,167 minus the client's monthly de
n n n n n n n n n
bt of $435, which equals $1,065. Therefore, the maximum loan
n n n n n n n n n n
payment that the client qualifies for is the lower of the two num
n n n n n n n n n n n n
bers, which is $1,065.
n n n
Which is the maximum debt-to-
n n n n
income ratio allowable for an FHA loan? - Correct Answer-43%
n n n n n n n n n
Which is the maximum debt-to-
n n n n
income ratio allowable for an FHA Energy Efficiency Mortgage lo
n n n n n n n n n
an? - Correct Answer-45%
n n n
The client's gross monthly income is $4167 and the monthly deb
n n n n n n n n n n
ts are $435. With a monthly mortgage payment of $950, which i
n n n n n n n n n n n
