Homegotowned Website Quiz

What is the down payment starting at for home purchase?

• 5%

• 3%

• 7%

• 10%

Which type of mortgage is not backed by a government agency?

• Conventional

• VA

• FHA

• USDA

What is the main purpose of the Federal Reserve in relation to mortgage rates?

• Guaranteeing mortgage loans

• Directly setting mortgage rates

• Determining loan limits

• Influencing inflation

What is the minimum down payment requirement for FHA loans?

• 10%

• 5%

• 3.5%

• 15%

Which government department provides VA home loans?

• Department of Housing and Urban Development

• Department of Defense

• Department of Veterans Affairs

• Department of Treasury

What is the impact of the 10-Year Treasury Yield on mortgage rates?

• No impact

• Decreases mortgage rates

• Increases mortgage rates

• Stabilizes mortgage rates

What is the primary goal of HomeGotOwned's mission?

• Exclusively serving investors

• Supporting community growth

• Providing luxury homes

• Maximizing profits

What is the address of HomeGotOwned's office?

• 205 North Ave West, Cranford, NJ 07016

• 123 Main Street, Anytown, USA

• 456 Oak Avenue, Lakeside, CA

• 789 Elm Street, Springfield, IL