Study Guide - Unit 5 Housing

Providing a place to live, bringing you great happiness

Providing a place to live, investing for the future

Providing a place to live, paying off your consumer debt

Providing a place to live, paying for your college expenses

principle

down payment

interest

credit

You are utilizing 100% of the credit

It has been swiped too many times

You are in collections

You win a prize

You don't need to save a huge down payment

You are not responsible for maintenance and repair of the property

You have equity in the house

You have flexibility to move more often

investment

lease

interest

down payment

Cost of a house you want to buy

Nothing. Credit score doesn't matter when buying a house.

Interest rate offered to you

Your down payment

10 - 20% of the price of the home

Your entire emergency fund

Three times your monthly expenses

Five years' worth of payments

a rental agreement

a fee you pay before renting a house or apartment

extra living expenses

a security deposit

The bank is pocketing that money instead of paying toward the loan

The house's value increased so much that it's worth more than they agreed to pay

The real estate market changed substantially since they took out the mortgage

In early years of a loan, most of the payments go toward interest

7 years

5 months

90 days

30 days