renting vs buying a house

The maximum amount of money that can be loaned to you

• Credit Report

• Credit Limit

• Credit Card

• Credit Score

A written estimate of the value of something.

• Closing

• Cost

• Appraisal

• Deed

A person who occupies rented property:

• landlord

• tenant

• mortgage

• none of these

The fee the lending institution charges the buyer to borrow the money. 

• Principal
• Earnest Money
• Closing Costs
• Interest

What are the benefits to owning your own home:

• Make changes whenever you feel like it

• Have a place that is yours

• Build wealth when you pay it off

• all of the above

What is a down payment?

• 50%

• The amount money you get to buy your dream house

• The money you pay up front for your house

(a)   are costs added taxes and fees on top of the mortgage

_______________ means you pay someone else each month for a place to live.

• house poor

• equity

• owning a home

• renting

Which is an example of a fixed expense

• Mortgage payment or rent

• groceries

• Gas and electric bill

What is an example of a variable expense?

• Mortgage payment or rent

• internet bill

• Grocery expenses