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1. A CLIENT HAS BEEN EMPLOYED AS A TEACHER FOR FIVE YEARS, HAS A GROSS INCOME OF $50,000 PER YEAR, AND DOES NOT HAVE ANY
1. A CLIENT HAS BEEN EMPLOYED AS A TEACHER FOR FIVE YEARS, HAS A GROSS INCOME OF $50,000 PER YEAR, AND DOES NOT HAVE ANY DEBT, THE CLIENT HAS A CREDIT SCORE OF 760 AND \$15,000 SAVED FOR A DOWN PAYMENT. WHICH INFORMATION WILL THE COUNSELOR NEED TO KNOW TO DETERMINE IF THE CLIENT MAY BE APPROVED FOR A MORTGAGE TO BUY A HOME? () a. SALES PRICE OF THE HOME b. AMOUNT IN RETIREMENT SAVINGS c. COST OF THE HOME INSPECTION d. NUMBER OF OPEN CREDIT LINES 2. A PRE-PURCHASED HOUSING COUNSELOR MEETS WITH FOUR DIFFERENT CLIENTS TO HELP DETERMINE LIEKLINESS TO QUALIFYT FOR A MORTGAGE. THE CLIENTES FRON-END RATIOS ARE FAVORABLE. WHICH CLIENT MOST LIKELY QUALIFY FOR BOTH CONVERNTIONAL LOAN AND AN FHA LOAN? ) 20. A pre purchase housing counselor meets with four different clients to help determine likeliness to qualify for a mortgage. The clients' front-end ratios are favorable. Which client would most likely qualify for both a
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