The expenses which owners and sellers incur during the purchase/sale of a home in addition to the price of the property (recording fees, escrow fees, title insurance, etc.)
closing costs
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15
Current mortgage rates are ...
6%-7%
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15
The first step you need to take before meeting with a realtor is...
get pre-approved
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15
If I only put down 10% at closing, what will be an extra cost to me every month?
PMI
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15
I might hire a professional to evaluate the structural and mechanical condition of a property before I purchase it. What is this process called?
Home inspection
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15
What the bank charges you to borrow money.
interest
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15
The difference between the value of your house and the amount that you owe is
equity
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15
The 28 of the 28/36 rule says ....
28% of my gross monthly income can go toward housing costs
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15
When I take out a loan, the actual loan amount is called ____
principal
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What does PMI stand for?
Private mortgage insurance
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egal document that serves as proof of ownership, transferring title from one person to another
deed
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15
What type of a mortgage loan may a very wealthy person have?
