Hf Home Ownership Education Mod2

9 Questions  I  By Fnbhf
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Hf Home Ownership Education Mod2
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Questions and Answers

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  • 1. 
    A Home Loan enables you to buy:
    • A. 

      An existing property

    • B. 

      A property off plan from a developer

    • C. 

      Both of the other options


  • 2. 
    If there are snags (defects) in your newly built property, who will have to fix them?
    • A. 

      Bank

    • B. 

      Contractor

    • C. 

      Insurance


  • 3. 
    Does the bank provide finance to purchase your home or build your home?
    • A. 

      Only to buy the home

    • B. 

      Only to build a new home

    • C. 

      Both of the other options


  • 4. 
    You can only apply for a bond at an estate agent or mortgage originator.
    • A. 

      True

    • B. 

      False


  • 5. 
    Which of the following is not correct?
    • A. 

      You can quality for a home loan if you are 15

    • B. 

      You can qualify for a home loan if you have a South African ID

    • C. 

      You can qualify for a home loan if you have a good credit record


  • 6. 
    If you share common areas such as the swimming pool, braai areas, playgrounds, what type of property did you buy?
    • A. 

      Free hold (Full title)

    • B. 

      Sectional title


  • 7. 
    In a sectional title a body corporate governs the communal land and finances.
    • A. 

      True

    • B. 

      False


  • 8. 
    Where must builders/developers register to build houses?
    • A. 

      NURCHA

    • B. 

      NHBRC

    • C. 

      Banks


  • 9. 
    If you have structural issues with your newly build house, where do you need to go to?
    • A. 

      The Builder

    • B. 

      The NHBRC

    • C. 

      The Ombudsman

    • D. 

      The Builder and NHBRC


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