Buying/Renting Houses: Question Preview (ID: 24901)


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The person who owns a property:
a) landlord b) tenant c) equity d) rent
Down payment
a) monetary value of a property minus the amount owed on the propery b) fees and charges associated with the purchase of a property c) portion of a purchase price that is not borrowed d) a loan for the purchase of real estate
All are reasons to buy a house except for:
a) Pride of ownership b) you do not have good enough credit to rent c) tax breaks d) starting a family
A typical down payment is ________ to _________ % of the purchase price of a home.
a) 10%-20% b) 5% - 20% c) 40%-50% d) 0%
Initial expenses that may be required when renting a property does not include:
a) first month's rent b) down payment c) security deposit d) last month's rent
A licensed person representing a buyer or seller in the transaction of purchasing property
a) real estate agent b) stock broker c) landlord d) banker
Before loaning you money, a lender can evaluate all but this to see if they should loan you the money:
a) credit history b) ethnicity c) income d) net worth
Security deposit
a) portion of the purchase price that is not borrowed b) fees and charges associated with the purchase of a property c) money paid to a landlord to cover potential deposit d) a loan for the purchase of property
Mortgage payment
a) can have interest rates up to 300% b) open-ended loan c) rent d) house payment
Rental applications can do all of the following except:
a) ask what your income is b) protect the renter and the landlord c) ask who will be living in the property d) protect only the landlord but not the tenant
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