Buying a Home

Buying a home will usually have fewer costs then renting.

• True

• False

A larger down payment will reduce the amount of the mortgage needed.

• True

• False

Tags

CCSS.7.RP.A.3

A common moving-in cost for an apartment would be:

• A down payment

• Building insurance

• Real estate taxes

• A security deposit

What word is another word for a property loan?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

What word means the part of the price paid at the time of purchase?

• down payment

• financed

• interest

• mortgage

• principal

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

What is a mortgate loan?

• Free money

• A loan from the bank to buy a boat

• A loan from the bank to buy a house

• A loan from a friend

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

What are the benefits to owning your own home:

• Make changes whenever you feel like it

• Have a place that is yours

• Build wealth when you pay it off

• all of the above

Tags

CCSS.RI. 9-10.8

CCSS.RI.11-12.5

CCSS.RI.11-12.8

CCSS.RI.8.8

CCSS.RI.9-10.5

What is a down payment?

• 50%

• The amount money you get to buy your dream house

• The money you pay up front for your house

_______________ means you pay someone else each month for a place to live.

• house poor

• equity

• owning a home

• renting

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

The meeting at which the title to the property is transferred from seller to buyer is the closing.

• True

• False