Housing and Real Estate

Front

If you're _________________, your house payment or rent is more than you can afford and still pay your bills.

Back

house poor

Front

The total amount still owed on a house is the ___________________.

Back

mortgage principal

Front

You'll want to have a(n) _________ of 10-20% of the total cost of the house you want to buy.

Back

down payment

Front

_______________ means you pay someone else each month for a place to live.

Back

renting

Front

_______________ refers to the average amount needed for housing, food, clothes, and other goods and services.

Back

cost of living

Front

__________ is the difference between what a house is worth and what is still owed on it.

Back

equity

Front

Apartment ______________ such as a pool, fitness center, and other perks are nice but usually mean higher rent prices.

Back

amenities

Front

A fixed-rate mortgage means your payment and interest rate won't

Back

change for the life of the loan

Front

Whether you're renting or buying, your monthly payment should be less than 25% of your take-home pay.

Back

less than 25% of your take-home pay

Front

Having a large house down payment (at least 20%) has benefits such as

Back

no PMI, lower total loan, and lower monthly payments