What is the first step in the home buying process for most people?

Home Buying Process Essentials

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard

Jackson Turner
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Making an offer
Visiting open houses
Getting a loan officer
Finding a realtor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the ideal credit score and down payment percentage for securing a good loan?
680 and 3.5%
740 and 20%
700 and 10%
750 and 15%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the pre-approval application?
To determine your loan eligibility
To find a realtor
To inspect the house
To finalize the purchase
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common percentage for closing costs relative to the purchase price?
4%
1%
2%
3%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary role of a realtor in the home buying process?
Inspecting the house
Handling closing costs
Finding a home and negotiating offers
Securing a mortgage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During the option period, what is typically done?
Moving into the house
Signing the closing documents
Inspecting the house
Finalizing the loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who has the ultimate power to approve or deny your loan?
Home inspector
Underwriter
Loan officer
Realtor
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