mortgage
what is a mortgage?
A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you don’t repay the money you’ve borrowed plus interest.
what is student loans
lets you pay for your studies by giving you access to funds with a low monthly repayment.
true or false is medical debt the most common debt to have?
true
what is a auto loan?
type of loan that allows you to borrow money from a lender and use that money to purchase a car.
does viewing your credit report hurt your credit score?
no
what is a mortgage rate?
the interest rate charged for a home loan.
how much do Americans own in student loans?
1.6 trillion
true or false 20 million people in the United States have medical debts
true
what are the perks of a high credit score when applying for a auto loan?
lower interest rate
what if you don't pay your credit card debt on time?
you will be charged a late fee
how do people in Scotland celebrate paying off their mortgage
they paint there door red
whats the max amount of student loans you can aquire
138,000
what average credit score would you need for a medical loan
670
how often would you need to pay back your auto loan?
monthly
what are the 5 c's of credit
character, capacity, capital, collateral and conditions.
what is the original meaning behind the word mortgage?
death pledge
true or false you need a credit check or a cosigner to get most federal student loans.
can your medical debt be forgiven?
yes through a hospital based forgiveness program
what are the three financing options
dealer financing, car loans from banks or credit unions and loans from online lenders.
true or false, can credit card accounts expire?
false
what is the average required credit score for a mortgage
600 or higher
what are the 4 types of loans
Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans.
what is medical debt?
debt incurred by individuals due to health care costs and related expenses
what does APR mean?
annual percentage rate
is a credit card a good way to build credit?