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WorksheetsBuying A House Vocab
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
The expenses in addition to the purchase price including escrow fees and real estate commission
a)
Deed
b)
Closing Cost
c)
Down Payment
d)
Equity
2.
A legal document transferring ownership of the property
a)
Equity
b)
Agreement of Sale
c)
Mortgage
d)
Deed
3.
The difference between how much a house is worth and how much is owed on the house.
a)
Closing Cost
b)
Equity
c)
Points
d)
Purchase Price
4.
1% of the loan amount. Amount charged by the lender providing the loan.
a)
Interest
b)
Points
c)
Purchase Pricve
d)
Principle
5.
Cost of borrowing money.
a)
Points
b)
interest
c)
mortgage
d)
Principle
6.
Amount of the loan still to be repaid.
a)
Interest
b)
Points
c)
Principle
d)
Mortgage
7.
Legal term applied to the action of a lender forcing the re-payment of the debt on the home by taking the home and selling it.
a)
HUD
b)
Escrow
c)
Mortgage
d)
Forclosure
8.
A licensed professional who specializes in selling homes.
a)
HUD
b)
Real Estate Agent
c)
Escrow
d)
Title Insurance Broker
9.
US Department of Housing and Urban Development
a)
HUD
b)
GOV
c)
USDOD
d)
HAD
10.
The amount of money the buyer pays to the seller immediately upon signing the agreement of sale.
a)
Deed
b)
Escrow
c)
Principle
d)
Down Payment
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