Show:
Down Payment
Not so common sense
Deal or No Deal
What do I need?
Who do I call?
100

USDA has ______ as their minimum down payment. 

What is 0%

100

True or False. 

The list price of the home is negotiable.

True

100

During this time is when you can do your due diligence and get everything inspected

What is an option period

100

This person is the one who makes sure you can afford a mortgage and can provide a pre-approval. 

What is a Loan Officer (Sriya Patel)

100

You call this professional when you have questions regarding your mortgage. 

What is your loan officer

200

True or False. 

The state of Texas has a program to help you with down payment and closing cost

True

200

The minimum credit score to receive down payment in Texas is _____. 

What is 620

200

This is something you can ask the sellers to do when a major defect in the house is found. 

What is repairs? 

200

This person helps the buyer with finding a home and negotiating the terms of a purchase contract

What is a realtor? (Shay Charlotin)

200

You call this professional when you have questions regarding the area you want to look in. 

What is your realtor?

300

Veterans have to put ____ down

What is 0%

300

When you close on a home you will need money reserved for attorney fees, escrow fees, title fees, and etc

What is closing costs?

300

This is money that the sellers will contribute to closing or buy their rate down on the buyers behalf. 

What is seller concessions?

300

You are a self-employed and want to purchase a home. You will submit these instead of W2s. 

What is 2 year of tax returns?

300

You would call this professional for your legal needs

What is a real estate attorney. 

400
For this type of loan you need a minimum of 3% down. 

What is conventional

400
When you put 20% or more down then you will not have _____

What is Mortgage Insurance

400

Your realtor will do this on your behalf to make sure the terms of the contract is favorable for both parties. 

What is negotiating?

400

True or False

You need to have a job for at least 6 months. 

FALSE, 2 year history is needed

400

You will call these professionals to find out the ownership history of the home. 

What is the title company?

500
The state of Texas will give ___ max to help witch down payment and closing costs.

What is 5%

500

I need a _____________ letter to be able to put an offer in a house. 

What is a Pre-approval?

500

A deposit submitted with a purchase offer to show that they buyers offer is being made in good faith. 

What is earnest money?

500

Deal or No Deal

You are under contract and stop responding to your realtor AND loan officer. 

NO DEAL. 

500

You rely on these professionals to be completely transparent and honest. 

What is a  real estate Agent and loan officer?