2023 Housing Unit

What is a mortgage?

• A mortgage is the payment you make each month to the bank so you can own your house at the end.

• A mortgage is the money the bank give you each month so they can buy the house from you.

• A mortgage is the price you pay to the landlord to rent an apartment

What's a down payment?

• A one-time payment that brings down the amount of money you borrow in a loan.

• A payment that you make monthly to pay back a loan.

• A way to make your money go lower than your money was before it was a down payment.

Match the following

• Features and luxuries that make something appealing

• Rent

• The extra money you pay back as the price of borrowing money.

• Mortgage

• You pay monthly and you eventually own it.

• Amenities

• How banks and other companies try to know if they can "trust" you to pay back money you borrow.

• Credit score

• You pay monthly but you never own it.

• Interest

Which one results in ownership?

• renting

• buying

• burning

• breathing

Which two are two are true about $ interest?

• Interest can be paying a fee for borrowing money.

• Interest is when you dislike something.

• Interest can be money you earn for letting a person or bank use your money.

• Interest is when you smell like cheese no matter how many showers you take.

Which is a synonym for contract?

• legal agreement.

• boxing match to the death.

Which are examples of amenities that an apartment building might have?

• walls

• bathroom with a toilet

• community pool

• free high speed wifi

What is a $ expense?

• something that brings you money

• something that costs you money

What is a fee?

• a charge for something

• a payment someone gives you

• a chance to explain something to an old person