Real Estate

The total amount still owed on a house is the ___________________.

• leasing principal

• charter amount

• mortgage principal

• equity

You'll want to have a(n) _________ of 10-20% of the total cost of the house you want to buy.

• investment

• down payment

• budget

• cost of living

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

• house poor

• equity

• owning a home

• renting

__________ is the difference between what a house is worth and what is still owed on it.

• equity

• mortgage

• investment amount

• life of the loan

Appreciating means that the value of a home you buy will continue to

• go up, but only after ten years of paying your mortgage

• fluctuate over time

• go down over time

• go up over time

The first step in buying a house is to find out how much a bank will loan you for the purchase--also know as being __________.

• preapproved

• preactivated

• prerecognized

• preordained

A loan obtained for a home purchase is a(n)

• equity

• inspection

• lease

• mortgage

What do Real Estate agents do?

• Help people buy homes

• Make homes

• Shows you toys

• Help control the electricity

When the supply of real estate exceeds the demand for real estate, prices:

• Decrease

• Increase

• Stagnate

• Are Not Affected

Jack owns ABC Mortgage Company. Jack's primary job is to originate loans for his company and earn fees associated with the origination. ABC Mortgage Company's loans are sold shortly after closing and they re-invest the money into another loan origination. Jack is a(n) ______.

• mortgage banker

• mortgage broker