Are You A Smart Home Buyer?
6 Questions
.
Questions and Answers
- 1.Initially what is important for getting a Mortgage
- A.
Prequalified
- B.
Preapproved
- 2.I can get a home without having a social security number?
- A.
Yes
- B.
No
- 3.20% down payment on the purchasing price of a house is required before closing
- A.
True
- B.
False
- 4.Adjustable Rate Mortgage is better than a Fixed Rate Mortgage?
- A.
True
- B.
False
- 5.What is the typical cost of a home inspection?
- A.
75-150
- B.
200-400
- C.
500-1000
- 6.Who is required to have Private Mortgage Insurance?
- A.
Its Mandatory for all borrowers
- B.
Buyers with a Down Payment more than 20%
- C.
Its optional for home buyers
- D.
Buyers with down payment less than 20%
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