Financial Literacy Chapter 9

Loan to buy a house.

• Amortization
• Appraisal
• Lease agreement
• Mortgage

Professional assessment of a home's value.

• Lessor
• Assessed value
• Balloon payment
• Appraisal

The owner of a rental property.

• Equity
• Amortization
• Lessor
• Lease Agreement

Legal agreement to rent a property.

• Lease agreement
• Appraisal
• Assessed value
• Amortization

Potion of a loss for which the policyholder is responsible.

• Equity
• Deductible
• Mortgage
• Assessed value

Payment made by the renter that is held to cover property damage.

• Mortgage
• Lease agreement
• Security deposit
• Balloon payment

Used to determine property tax.

• Assessed value
• Equity
• Appraisal
• Deductible

A large and final payment on a loan.

• Lease agreement
• Balloon payment
• Mortgage
• Security deposit

Amount by which a home's value exceeds what is owed.

• Lease agreement
• Appraisal
• Amortization
• Equity

Process of paying down an installment loan.

• Appraisal
• Balloon payment
• Amortization
• Security deposit