Investments: HOUSING (MORTGAGES & HOMEOWNERSHIP)
Authored by Elena Stroud
others
9th - 12th Grade
Used 1+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
True or False: If a seller wants to change part of the buyer’s offer, the seller makes a counteroffer.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
True or False: Your credit score does not impact the costs of your home mortgage?
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A fixed-rate of interest on your mortgage....
Increases each year
Decreases each year
Stays the same
Fluctuates based on the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
In order to avoid PMI, what percentage down-payment should the buyer put down on the house?
5%
10%
20%
You don't need to make a down payment
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
The difference between the market value of property and the amount owed on it is called ______________.
Closing cost
Acceptance
Debt
Equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which of the following is not a factor to consider when buying a home?
Price
Location
Size
Rental Inventory
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which of the following is not a responsibility of home ownership?
Neighborhood Security
Property Insurance
Utilities
Lawn Maintenance
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