First Time Home Buyers

Which one of these is NOT directly involved with a home purchase?

• Real Estate Agent

• Escrow Office

• Federal Reserve

• Mortgage Company

What is the first step in buying a home?

• Acceptance

• Home Shopping

• Preapproval

• Denial

For best results, what should your credit utilization be?

• Less than 30%

• Greater than 30%, Less than 50%

• Greater than 50%, Less than 75%

• Less than 99%

If your prospective home costs $650,000, what is the minimum down payment?

• 3%

• 5%

• 10%

• 20%

If your Purchase Price is $400,000

and your Down payment is 10%.

What is your Loan Amount?

• $200,000

• $10,000

• $40,000

• $360,000

On a scale of 1-5, how excited is Jose in this picture?

• 1

• 2

• 3

• 4

• 5