Home Buying

Home Buying

Assessment

Flashcard

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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33 questions

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1.

FLASHCARD QUESTION

Front

A record of how an individual has repaid debts in the past, used as a guide to measure the individual's ability to borrow

Back

Credit History

2.

FLASHCARD QUESTION

Front

A ________ is a loan to help you purchase a home.

Back

Mortgage

3.

FLASHCARD QUESTION

Front

A professional estimate of a property's market value at a certain point in time.

Back

Appraisal

4.

FLASHCARD QUESTION

Front

What is the final step in the lending process when the buyer signs the documents related to buying the house to close the deal?

Back

Closing the Purchase

5.

FLASHCARD QUESTION

Front

If you don't make your payments on time you can damage your ________

Back

Credit rating

6.

FLASHCARD QUESTION

Front

A benefit of owning a home is that it is an investment in your future.

Back

True

7.

FLASHCARD QUESTION

Front

Increasing the length of your loan will _______ your monthly payments.

Back

Decrease

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