Why is mortgage fitness important?

Understanding Mortgage Qualification Factors

Interactive Video
•
Business, Life Skills
•
9th - 12th Grade
•
Hard

Mia Campbell
FREE Resource
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9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It improves your physical health.
It helps you save money on groceries.
It helps you get a better job.
It ensures you can afford your mortgage.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first C in the 4 C's of mortgage qualification?
Capital
Credit
Capacity
Collateral
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Capacity refer to in mortgage terms?
The value of your property
Your savings and investments
Your ability to repay the loan
Your credit score
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the second C in the 4 C's of mortgage qualification?
Credit
Capacity
Collateral
Capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do lenders consider Capital?
To ensure you have enough funds in case of emergencies
To check the value of your property
To verify your employment history
To assess your monthly debts
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the third C in the 4 C's of mortgage qualification?
Capacity
Capital
Credit
Collateral
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Collateral refer to in mortgage terms?
The value of the property used as security
Your employment history
Your credit score
Your monthly income
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the fourth C in the 4 C's of mortgage qualification?
Collateral
Capital
Credit
Capacity
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do lenders check your credit score?
To assess the value of your property
To ensure you have made timely payments in the past
To verify your employment history
To check your monthly income
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