Guide to Homeownership

Section Quiz

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  1. What has been the traditional down payment amount to purchase a home?
  2. In determining housing affordability, lenders will review the following information:
  3. What is an escrow account?
  4. What are the advantages of an FHA loan?
  5. What is PMI Insurance?
  6. A mortgage is divided into four parts, which of the following parts is correct?
  7. What is a title search?
  8. What is the purpose of having an appraisal done before purchasing a home?
  9. What is a commitment letter?
  10. During closing, which of the following actions must be completed before a loan is approved?