
Mortgage Quizizz
Authored by Mary Cox
Social Studies
12th Grade
Used 2+ times

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31 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What happens to the loan amount when you put down a larger down payment?
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What happens to the cost of a loan when the interest rate is higher?
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the consequence of having a poor credit score?
May have a higher interest rate
You never get a loan
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
You want to pay less in overall interest. Every interest rate is the same. Select the best mortgage for you.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are times that renting is better than buying.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percent of your monthly NET income should your monthly mortgage, taxes, and insurance be?
45% - 50%
40% - 45%
Less than 35%
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Elaine and Ronald Sumter consider purchasing a new home for $179,000. A 15 percent down payment is required. What is the amount of the mortgage loan needed to finance the purchase?
$26,850
$152,150
$28,650
$152,510
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