First Semester Final Exam

Front

Buying a home will usually have fewer costs than renting.

Back

False

Front

A larger down payment will reduce the amount of the mortgage needed.

Back

True

Front

What word is another word for a property loan?

Back

Mortgage

Front

What word means the part of the price paid at the time of purchase?

Back

down payment

Front

What is a mortgage loan?

Back

A loan from the bank to buy a house.

Front

What are the benefits to owning your own home? Options: Make changes whenever you feel like it, Have a place that is yours, Build wealth when you pay it off, all of the above

Back

all of the above

Front

What is a down payment?

Back

The money you pay up front for your house

Front

down payment

Back

An initial cash payment made when something is bought on credit.

Front

Another thing to think about when considering the price of a house is...

Back

Closing costs

Front

What is this movie?

Back

Grinch