Buying and Renting a Home

Define Landlord

• A person who owns and rents property to another

• A person who collects taxes

• A person who does your laundry

• A person who sells you your home

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4

Define Renter's Rule

• You should spend no more than one week's income for a month's rent

• You should spend no more than 2 week's income for a month's rent

• You should spend no more than 1 month's income for a month's rent

• You should spend no more than 1 year's income for a month's rent

Tags

CCSS.6.RP.A.3B

Define Annual

• Every year

• Every 2 years

• Every 3 weeks

• Every 6 months

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

Define Down Payment

• Borrowed

• A property loan

• The amount of money loaned to a creditor

• Part of the price paid at the time of purchase

Define Financed

• Borrowed

• A property loan

• The amount of money loaned to a creditor

• Part of the price paid at the time of purchase

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4

Define Mortgage

• Money for an apartment

• Borrowed

• Payment charged to the borrower for the use of money

• A property loan

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Define Interest

• A payment charged to the borrower for the use of money

• You may borrow up to 2.5 times your annual income to buy a house

• Borrowed

• The amount of money loaned to a creditor

Tags

CCSS.7.RP.A.3

Define Banker's Rule

• You may borrow up to 2.5 times your annual income to buy a house

• You should spend no more than one week's income for a month's rent

• You may borrow up to 3 times your annual income to buy a house

• You should spend no more than 2 weeks income for a month's rent

Tags

CCSS.6.RP.A.3B

Define Term

• The period of time for which money is loaned

• Money loaned for 1 year

• Money loaned for 2 years

• Money loaned for months

Tags

CCSS.6.EE.A.2B

Define Lease

• A contract to rent property

• Yearly

• A contract to buy a house

• Attached to a dog collar

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4