Homeowners Unit Flashcard
Flashcard
•
Business
•
11th Grade
•
Hard
Wayground Content
FREE Resource
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16 questions
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1.
FLASHCARD QUESTION
Front
What is the principal in the lending context?
Back
The amount of money originally received from the lender
2.
FLASHCARD QUESTION
Front
What does the interest rate represent?
Back
A percentage of a sum borrowed charged by a lender
3.
FLASHCARD QUESTION
Front
What is a mortgage used for?
Back
To buy a home or borrow money against a home's value
4.
FLASHCARD QUESTION
Front
What is the closing date in a property transaction?
Back
The day the buyer receives the keys and becomes the owner.
5.
FLASHCARD QUESTION
Front
What is a security deposit?
Back
A one-time payment made to a landlord before moving in.
6.
FLASHCARD QUESTION
Front
What is included in real estate?
Back
Land, buildings, and physical structures
7.
FLASHCARD QUESTION
Front
What is a Purchase Agreement?
Back
A legally-binding contract signed by the buyer and seller of a property.
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