Home Buying
A ________ is an agreement between a buyer and a lender that allows the buyer the chance to borrow money to purchase a home.
Mortgage Agreement.
The minimum age you can be to apply for a learner's permit?
What is 15 1/2?
The amount of money a person earns for their work before deductions are taken out.
What is gross pay?
The acronym FOMO stands for
What is Fear Of Missing Out?
A government imposed tax on imported goods.
What is a tariff?
A traditional mortgage typically has fixed payment options of 15, 30 or this many years?
20 years
A Learner’s Permit allows you to drive with a licensed driver over the age of ____ in the passenger seat.
What is 25?
The term used to describe the amount of money taken out of your paycheck to cover taxes and benefits.
What are deductions?
The type of FOMO experienced when a friend makes a post on TikTok
What is social media FOMO?
Taxes imposed on goods, services, or activities such as - gas, tobacco, liquor
What is excise tax?
This determines the estimated value of the home?
What is an appraisal?
The amount of time you must have your permit before applying for the driving test
What is six months?
Also known as take home pay, this is the amount you receive on your paycheck after deductions are taken out.
What is net pay?
Nearly ___ in 10 people report experiencing FOMO at some point in their lives
What is 7?
The type of tax you pay when your purchase goods.
What is a sales tax?
The additional costs associated with buying home such as title, insurance and property tax are called this?
What are closing costs?
The amount of driving hours you must complete to obtain the permit?
What is 50 hours?
A piece of paper that has information about the amount you are paid for your job during a pay period.
What is a pay stub?
The percentage of teens who report feeling excluded when they are not in the same online spaces as friends
What is 50 percent?
The type of tax paid for owning land or a home
What is property tax?
Home cost is based upon calculating this?
What is the square footage of the home?
You must score higher than this on the written test to receive your license.
What is 83%?
A formal, one-to-two-page document summarizing an individual's professional experience, education, and skills, used to secure job interviews
What is a resume'?
Name the three types of FOMO we discussed in this class.
What are Personal, Professional, and Social Media?
The type of tax every working American pays to fund retirement, disability, and survivor benefits
What is Social Security Tax?