I was taking the Knowledge Assessment and the Practice Test and had 2 questions.
1. Where to I find the Front-End Ratio for EEM, USDA, and VA (if applicable) in the text? I looked in ALL the modules (even searching by keywords) and could not find it in the text at all. In the review of a question it stated that the Front-End Ratio for an EEM loan is 33% and referenced going to module 4.2. I looked there and every other module and could not find it in the text.
2. What is the down payment requirement for an EEM loan? In the Practice Test there was a question (16) where it asked that the client wants to make the minimum down payment for a home priced at X amount and how much do they need to save. It did specify that they are using an FHA EEM mortgage. Would I just use the FHA down payment requirement to solve this problem?