Home Buying
One advantage of buying a home instead of renting.
What are tax advantages, equity, pride of ownership or stability?
Goals to be accomplished within the next five years are__________.
What are long term goals?
When shopping for a car the first step is _________
What is decide beforehand how much you can afford?
A type of loan that is best for borrowers with excellent credit looking to buy an expensive home.
What is a jumbo loan?
A group of porcupines is called ____________.
What is a prickle?
A mortgage loan that has a consistent interest rate and equal monthly payments over its entire duration.
What is a conventional loan?
Situations change all the time and goals can change. You need to be _____________.
What is flexible?
Gross pay
What is total amount of money earned before taxes?
First step an individual should take when buying a home.
What is determine home ownership and financial needs?
This country has the largest population of tigers.
What is India?
The value of a mortgaged property after deduction of charges against it.
What is equity?
The amount you start with when building a budget or your actual money you take home after taxes.
What is your net income?
The 20-10 Rule.
What is never borrow more than 20% of your yearly income and monthly payments should not exceed 10% of your monthly net income?
A car costs $10,000 and the bank loan interest rate is 5%. How much interest will you pay the first year?
What is $500?
How old was Queen Elizabeth II when she was crowned the Queen of England?
What is 27 years old?
Fees associated with finalizing a real estate purchase, such as title insurance, appraisal fees, attorney fees, survey fees, are collectively known as ___________
What is closing costs?
Three types of goals you should have.
What is personal, professional, and financial goals?
Three costs to consider when buying a car.
What is insurance, gasoline, and maintenance repairs?
A car costs $15,000 and the bank loan interest rate is 6.5%. What is the total interest will you pay if you have a 36-month loan?
What is $2,925?
$15,000 x 0.065 = $975
$975 x 3 = $2,925
Who was the youngest U.S. president?
Who is Theodore Roosevelt?
Three costs to consider when buying a house.
What is closing cost, down payment, and escrow?
The acronym SMART stands for:
This can happen if the borrower fails to make car loan payments as agreed in the contract.
What is repossession?
A truck costs $30,000 and the bank loan interest rate is 4.5%. What is the total payment cost of the truck if a bank approves you for 60-month loan?
What is $36,750?
$30,000 x 0.045 = $1,350
$1,350 x 5 = $6,750
$6,750 + $30,000 = $36,750
The first iPhone was released in what year?
What is 2007?