WorksheetsFirst Time Home Buyers
Total questions: 6
Worksheet time: 3mins
Name
Class
Date
1.
Which one of these is NOT directly involved with a home purchase?
a)
Real Estate Agent
b)
Escrow Office
c)
Federal Reserve
d)
Mortgage Company
2.
What is the first step in buying a home?
a)
Acceptance
b)
Home Shopping
c)
Preapproval
d)
Denial
3.
For best results, what should your credit utilization be?
a)
Less than 30%
b)
Greater than 30%, Less than 50%
c)
Greater than 50%, Less than 75%
d)
Less than 99%
4.
If your prospective home costs $650,000, what is the minimum down payment?
a)
3%
b)
5%
c)
10%
d)
20%
5.
If your Purchase Price is $400,000
and your Down payment is 10%.
What is your Loan Amount?
a)
$200,000
b)
$10,000
c)
$40,000
d)
$360,000
6.
On a scale of 1-5, how excited is Jose in this picture?
a)
1
b)
2
c)
3
d)
4
e)
5
100 %
