What type of a mortgage loan may a very wealthy person have?
jumbo
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15
If I make $50,000 a year, I can afford a house that costs about $_______?
$150,000
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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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trap
No points!
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seesaw
Swap points!
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fairy
Take points!
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thief
Give points!
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monster
Reset all scores!
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fairy
Take points!
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shark
Other team loses 10 points!
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thief
Give points!
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15
How do you become a realtor?
4 classes + pass state/national tests
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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
The first step you need to take before meeting with a realtor is...
get pre-approved
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15
If I have to pay PMI, when will I stop?
Once you've reached the 20% threshold
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15
Name two other types of mortgage loans besides ARM and fixed rate
jumbo, VA, FHA...
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15
The time period between signing the purchase agreement and closing where money is held by a third party.
escrow
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15
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.)