Credit
What is typically the lowest credit score you can have to qualify for a mortgage?
580
Name one red flag you might come across when looking for a home?
Bowing Foundation
Rotting/peeling siding
Deteriorated roof
Old/broken windows
Termites
In addition to your mortgage payment what are the other 2 annual expenses you pay monthly?
Taxes & Insurance
What makes up 35% of your total credit score? Length of credit history, amounts owed, or payment history
Payment history
What is one reason you may not be ready to buy?
Earnest money costs
Inspection Costs
Moving in less than 3 years
What is the money called that you submit within 3 days of your offer being accepted?
Earnest Money
When thinking of your credit limit, what percentage should you never go above in order to keep a good credit score?
29%
What are the 2 things that happen before closing, after your offer is accepted?
Inspections & Appraisal
What is the typical range for grants for 1st time Homebuyer Programs?
A) $2,000-$5,000
B) $2,500-$15,000
C) $2,800-$25,000
B) $2,500-$15,000