Most mortgages are usually paid off in how many years?

Renting/Buying a Home

Quiz
•
Design
•
9th - 12th Grade
•
Medium
Cathy Howard
Used 18+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5
10
20
30
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is paid by the buyer at the time of buying a house (usually 10%) is called
down payment
escrow account
monthly expense
homeowners insurance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between the market value of the home and the principal amount owed on the mortgage.
escrow
equity
finance fee
points
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The meeting at which legal papers are signed and the sale of the home is finalized...
closing
equity
escrow
mortgage
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A home loan in which a borrower pays a fixed interest rate for the life of the loan.
conventional mortgage
adjustable rate mortgage
graduated payment mortgage
equity loan
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A home loan in which the interest rate changes depending on current rates in effect; can go up or down.
graduated payment mortgage
adjustable rate mortgage
conventional mortgage
all of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A home loan in which the payment starts out low and increases in the later years of the loan when the owners are likely to have more income and less debt.
conventional mortgage
adjustable payment mortgage
graduated payment mortgage
none of the above
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