Buying a home achieves which two financial goals at the same time?
Providing a place to live, paying off your consumer debt
Providing a place to live, investing for the future
Providing a place to live, paying for your college expenses
What is the average monthly rent for a two-bedroom apartment the US?
$500 per month
$2000 per month
$1320 per month
What are the 4 school expectations?
safe, responsible, respectful, follow directions
How is it possible someone could pay their mortgage monthly for years without reducing their principal by very much?
The bank is pocketing that money instead of paying toward t
In early years, most of the payments go toward interest
Millennials are buying fewer homes than in previous generations for each of these reasons EXCEPT...
They find apartments to be trendier and more fun
They are paying down large student loans instead
They have to self-fund retirement to a greater extent
Which of these is not a requirement you should meet before buying a home?
You are married with children
You have enough saved for a down payment & emergency fund
You plan to stay in the home for 5 or more years
You qualify for good mortgage terms
a contract outlining the terms of your rental
lease
mortgage
How much money should you put toward your home's downpayment?
20% of the price of the home
Your entire emergency fund
3 times your monthly expenses
sum of money you pay to your landlord or property management company when you sign a new lease, usually equal to one to two months' rent
security deposit
pet fee
mortgage
Which of the following is not a factor you should consider when deciding where to live?
color of the paint
commute
cost of living
job availability