Renting & Housing
Renting means making periodic payments to a landlord for use of property.
Renting
Best mortgage option when buying a home according to Dave Ramsey.
15-year fixed rate mortgage
Average cost of basic goods and services.
Cost of Living
Legal document that allows tenant to use a property.
Leasing Agreement
t's best to develop good ones now.
Money Habits
You should rent until you are able to do this the right way.
Buy a House
A mortgage with a set rate for a set number of years.
Fixed-rate mortgage
The level of wealth and comfort available to a group.
Standard of Living
Portion of contract signed by both parties.
Acknowledgment Clause
Learn real-world costs early and build these strong habits.
Personal Responsibility
Your rent should be no more than this % of take-home pay.
25%
The amount borrowed on a home loan.
Mortgage principal
Over time, a house typically does this in value.
Increase
A lease is enforceable once this happens.
Signing
The only time borrowing money is acceptable.
Buying a Home
Paying extra for these comfort add-ons can block financial goals.
Amenities
Type of loan not backed by the government.
Conventional Loan
The difference between what your home is worth and what you owe.
Equity
Lease should include rent terms, security deposit rules, and these fees if applicable.
Pet Fees
Fixed mortgage interest rate stays the same for how long?
Life of the loan
Living off campus means paying for rent, groceries, and these essential services.
Utilities
When someone spends so much on homeownership they struggle to reach financial goals.
House Poor
Long-term, this is usually the better deal: renting or homeownership?
Homeownership
After hiring a real estate agent, your next step is to do this.
Start looking at homes
rate stays the same for how long?Core principles: save, budget, avoid debt, live on less, and be ______.
Generous