Buying A Home
Flashcard
•
Other
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
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7 questions
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1.
FLASHCARD QUESTION
Front
The amount of mortgage a person can afford is affected by: the location of the house, his or her income, the cost of homeowners insurance, his or her age.
Back
his or her income.
2.
FLASHCARD QUESTION
Front
Buying a home will usually have fewer upfront costs than renting:
Back
False
3.
FLASHCARD QUESTION
Front
A larger down payment will reduce the amount of the mortgage needed.
Back
True
4.
FLASHCARD QUESTION
Front
If you can't put 20% down, what additional payment do you have to make each month (for approx 10 years)?
Back
PMI
5.
FLASHCARD QUESTION
Front
Property tax rates vary from city to city and state to state.
Back
True
6.
FLASHCARD QUESTION
Front
What does FHA stand for?
Back
Federal Housing Administration
7.
FLASHCARD QUESTION
Front
The standard down payment on a home is 3% of the purchase price.
Back
True
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