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WorksheetsBuying a house, borrowing, and credit
Total questions: 12
Worksheet time: 6mins
Realtor
represents buyer or seller
The portion of the loan that is charged with interest to the borrower
a professional who acts as an intermediary between a consumer and an insurance company
a person who buys and sells goods or assets for others
Loan
A legal document that transfers title from one person to another, usually real estate
The amount of the house that you have paid for, or the amount you would get if you sold the house
Money borrowed and must be repaid with interest
Free money, a gift, from your bank
Down Payment
The proportion of the loan that is charged with interest to the borrower
A percentage of the sale price that goes to the seller's and buyer's agent.
an amount of money paid before a particular piece of work or a particular service is done or received
An initial cash payment that is made when something is bought on credit
Mortgage
A bank loan for the purchase of a home
A legal document that transfers title from one person to another, usually real estate.
The amount of money you borrow, or the amount you owe before interest is calculated.
The up front payment for your landlord
Loan principle
A bathroom that contains a toilet and sink but no bathtub or shower.
A bank loan for the purchase of a home.
any value-added loan where the proceeds are used to finance construction of some kind.
The amount of money you borrow, or the amount you owe before interest is calculated.
The cost of borrowing money is referred to as...
interst
credit
credit line
Annual percentage rate
There’s no penalty if I pay my credit card balance after the due date.
true
false
Having a high credit score will allow lenders to give you lower interest rates.
true
false
To build a good credit history you should
open as much credit as possible quickly
pay on time and as much of your balance as possible
use the maximum credit allowed on all your credit cards
all of these
When renting you _____ of your take-home pay on housing
don't want to pay over 25%
pay half
pay 35-40%
should pay over 25%
Can certain places you move be cheaper than other places and will that effect you salary based on that difference
true - will not effect your salary
false - will not effect your salary
true - will and can lower or raise your salary based on your other payments
false - it will not effect your salary but, your other payments will change
When renting most will require ___
first months rent
last months rent
security deposit of a third months rent
all of these
