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House Buying Quiz

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Who helps you buy a home?

a)

Inspector

b)

Insurance Agent

c)

Real Estate Agent

d)

Santa

2.

An estimate of how much property is worth

a)

Rate

b)

Income

c)

Appraisal

d)

Tax

3.

 The price you pay upfront usually 20% of the loan.

a)

Morgage

b)

Price per share

c)

down payment

d)

loan

4.
  • Charges involved in finalizing a home purchase

a)
  • Closing Costs

b)

opening cost

c)

return on investment

d)

break even point

5.

Monthly loan payment made to pay towards the purchase of property

a)

Premium

b)

Insurance

c)

Car Payment

d)

Mortgage

6.

What information do you need to provide to buy a house

a)

Social Security Number

b)

Proof of Income

c)

Credit

d)

All of the above

7.

Imposing unfair or abusing terms in a loan agreement

a)

Happy Lending

b)

Predatory Lending

c)

Fair Lending

d)

Gambling

8.

If the cost of the home is $250,000 and you need a 20% down payment…

a)

$80,000

b)

$25,000

c)

$50,000

d)

$250,000

9.
  • An estimate of how much property is worth

a)

Appraisal

b)

Selling

c)

Buying

10.

When buying a home, which step should you take

a)

Get approved for a loan

b)

Find a house and visit, complete a walkthrough

c)

Make an offer, negotiate

d)

Hire a professional INSPECTOR

e)

All of the above