WorksheetsHousing Test
Total questions: 10
Worksheet time: 3hrs 30mins
Buying a home is ALWAYS better than renting
True
False
Depends on personal context and where you are in life.
Stay at home with parents
One benefit to buying a house is being able to customize it whereas you may not have that flexibility in an apartment or rental.
True
False
One benefit to renting is usually maintenance is not your responsibility
True
False
How much a home might ______ or _______ is a factor in determining whether the best choice is to rent vs. buy.
Grow or shrink
appreciate or depreciate
fall apart or be kept up
None of these
If you save up $125,000 to put down on a home that costs $500,000, you will have to ask the bank for a loan amount of $375,000. When will you receive the title to the house?
When you put down the $125,000
When you pay off the loan to the bank
Once you sign the paperwork to apply for the loan
Never
Khan talks about what types of interest rates?
Fixed Rate Mortgages
Adjustable Rate Mortgages
5/1 Loans
All of these
Even small changes to your ______ can have a big impact on your interest rate.
Job Salary
Education level
Credit Score
None of these
A _________________ occurs when someone wants to sell a home, but owes more on the home than its value.
Foreclosure
Purchase
Short Sale
None of these
a blend of a fixed rate mortgage and an adjustable rate mortgage.
hybrid adjustable rate mortgages
Double Mortgage
Rental Rate
None of these
When determining how much you can borrow to buy a home, lenders may consider your _____
income level
employment status
credit history
all of these
