Naca Hud Certification Exam Questions And Answers 100% Correct

Type of mortgage may be a good fit for eligible veterans, suitable credit and sufficient income and have a certificate of eligibility. {Ans: VA Loan}CD; Money Market; High-Interest Account {Ans: Examples of accounts that would be ideal for short-term large purchase savings}Issuance of New Mortgage Rules {Ans: To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgages, and to expand protections}AnnualCreditReport.com {Ans: Where does a client go to get a free credit report?}Cash-Out Refinancing {Ans: Best Improvement loan: A client leverages home equity through a new, larger loan to access funding to make improvements to the home}When must your lender terminate PMI? {Ans: 78% or at midpoint of the loan. You can request earlier once principal balance falls below 80% of original loan value}What is the purpose of the Housing Opportunities for Persons with AIDS (HOPWA) program {Ans: To assist with housing needs of people living with HIV/AIDS}Deed Restrictions {Ans: Legally enforceable terms that govern the use of real estate}7 {Ans: The Fair Housing Act, as amended, protects how many characteristics?}The midpoint in the family income range for a metropolitan statistical area of for