Home Buying Review

The sum of money lent, not including interest. *

• Escrow

• Principal

• Creditor

• Equity

• Mortgage

The difference between the value of your home and the amount you owe. *

• Equity

• Mortgage

• Escrow

• Creditor

• Principal

A person or a company to whom money is owed.

• Principal

• Escrow

• Creditor

• Equity

• Mortgage

Monthly fee paid with the mortgage to cover taxes and home owner's insurance.

• Escrow

• Equity

• Mortgage

• Principal

• Creditor

Determines what the property value is worth.

• Principal

• Appraisal

• Equity

• Mortgage

• Creditor

Money borrowed from a creditor with interest to buy a property.

• Principal

• Escrow

• Creditor

• Equity

• Mortgage

What are three factors to consider when purchasing a home? (Choose 3) Check all that apply.

• Renter's Insurance

• Taxes

• Schools

• Resale Value

Deducting the interest paid on a home loan from your income tax will result in this.

• earnest money

• tax savings

• closing costs

• deed

• investment

Money that must be paid when you make an offer on a property.

• earnest money

• tax savings

• closing costs

• investment

• deed

Includes fees for services required to transfer ownership from one person to another.

• investment

• earnest money

• deed

• closing costs

• tax savings