Personal Finance Courses: Housing

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1.
Owning a home is _______.
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None of the above.It depends on many factors, such as location and the state of the housing market.
2.
The proportion of your mortgage that goes to interest _______.
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Declines over time. Your mortgage payment consists of both principal and interest. The proportion that is interest starts out high and gradually declines over the life of the loan.
3.
Which of the following is more likely to have predictable housing expenses?
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A renter. Renters do not get hit with unexpected expenses, as owners sometimes do.
4.
Whom does title insurance protect?
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You and your lender. Title insurance protects you and your lender in case you discover afterward that someone else could lay claim to the house.
5.
As a renter, you might find that you are responsible for shoveling snow or cutting the grass.
Choose wisely. There is only one correct answer.
True. Some leases require you to do some maintenance.