Personal Finance Chp 7 Review 2

Renting is a wise choice for someone who wants _______

A _______ is someone who is familiar with the local housing market.

The legal document that defines the conditions of the rental agreement between the tenant and the landlord is called a _______.

The value of the house minus the amount still owed on the money borrowed to purchase it is called _______.

The most popular type of housing in the United states is the _______.

A _______ is a person who evaluates a house and land for a buyer.

The _______ is the amount that the owner asks for the house.

A(n) ___________ has an interest rate that increases or decreases during the life of the loan.

In the first years of a mortgage, most of the monthly payment goes toward paying off the (a)   .

When homeowners (a)   , they take out a new mortgage at a lower interest rate.