Housing Vocab Quiz

a plan for dividing your income into spending and savings options

• short-term goals

• budget

• principal

• lease

something you want to achieve in a year or 2

• short-term goals

• long-term goals

something you want to achieve in OVER a year or 2

• short-term goals

• long-term goals

amount of money you have to spend

• principal

• security deposit

• budget worksheet

• fixed expenses

a document you make to outline your income and spending

• long-term goals

• budget worksheet

• loan

legal contract that allows you to live in an apartment

• landlord

• lease

• mortgage

money you pay in case something goes wrong in your apartment (landlord holds onto it, pays it back if appropriate)

• mortgage

• lease

• security deposit

owner of the place you are RENTING

• landlord

• property manager

• property owner

amount of money you borrow

• security deposit

• fixed expense

• principal

loan to buy real estate

• mortgage rate

• property loan

• mortgage