A Roof Over Your Head

What is the consequence of having a poor credit score?

• None of these answers are correct
• May pay a higher APR
• May pay a lower APR
• Go to jail

What happens to the loan amount when you put down a larger down payment?

• Decreases
• Increases
• No change

Tags

CCSS.7.RP.A.3

There are times that renting is better than buying.

• Agree
• Disagree

A separate account were taxes and insurance are held to be paid to the tax authority or insurance company.

• Escrow

• Scarecrow

• Checking

• Escargot

The price of money that the lender receives for giving a loan. Usually shown as a %. Money that the bank charges you to borrow money.

• Interest

• Disinterest

• $Texas

• Principle

A type of loan where the interest rate never changes

• Fixed-Rate
• Adjustable Rate
• PG Rated
• Non Fixed Rate

The normal _______ for a mortgage is 15 or 30 years

• Term
• Interest Rate
• Principle
• Loan

________ Costs are fees associated with settling, or finalizing your Mortgage (loan).

• Closing

• Finishing

• Interest

• Mortgage

You pay these taxes based on the value of home and the land it sits on.

• Property Taxes
• Land Taxes
• Home Taxes
• Income Taxes

A set percentage of the cost of the home you want to buy to show the bank and the seller that you are serious purchasing the house.

• Buy down

• Prepayment

• Interest

• Down Payment