Real Estate Law

The average home loan is for how long

• 5 Years

• 10 Years

• 15 Years

• 20 Years

• 30 Years

Banks want this percent of the purchase price as a down payment for a mortgage

• 5 percent

• 10 percent

• 15 percent

• 1 percent

• 20 percent

Which of the following is NOT a popular type of home ownership

• Condominium

• Townhome

• Mobile Home

• Apartment

• Single Family Home

What is Equity when talking about homes and real estate?

• The interest you have to pay on a loan

• Paying of property tax

• Earning of profit in your home's vaiue

• The price you pay for your home

• The price you pay when buying a home

Which type of home would be the smallest?

• Townhome

• Duplex

• Single Family Home

• Condo

• Mobile Home

What is the property tax rate in CA? (you pay this every year)

• 1 percent of purchase price

• 2 percent of purchase price

• 5 percent of purchase price

• 10 percent of purchase price

• 15 percent of purchase price

A track home is also known as a

• Condo

• Townhome

• Duplex

• Mobile Home

• Single Family Home

What does it mean to "Short" something?

• Profit off of

• Liquidate (Sell it)

• Bet Against

• Invest in something

How much is the median price of a home in Sunnyvale, Santa Clara, Cupertino, San Jose

• 500,000

• 750,000

• 1,000,000

• 1,200,000

• 2,000,000

If we started a mortgage today, when would we get the deed?

• 2026

• 2036

• 2049

• 2059

• 2053