Steps to Buying a Home

In your own words, explain the difference between APPRECIATION and DEPRECIATION. (you can give examples!)

Who do you meet with to discuss your finances before your buy a house?

• Real Estate Agent

• Lender

• Credit Scorer

• Insurance Agent

When you are borrowing money to buy a house, do you want a HIGH interest rate or a LOW interest rate?

• HIGH

• LOW

List 3 different documents you need for a mortgage.

What is a "down payment"? How much should you save up for?

Why is a "Fixed Interest Rate" better than an "Adjustable Interest Rate"?

What does it mean if you have a "30 year mortgage"?

What does a Real Estate Agent do?

What are two things you should consider BEFORE you start the process of buying a house?

Why is it important to get "Home Insurance"?