Personal Finance Courses: Housing

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1.
Homes always keep increasing in value.
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False. Not always. Over time, the trend is toward growth, but sometimes home values do drop, even for several years in a row.
2.
As a rule of thumb, a mortgage payment shouldn't exceed how much of your monthly gross income?
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30%. The rule of thumb for monthly payments is that they shouldn't exceed 30 percent of your monthly gross income.
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.
It is possible to negotiate the rent on an apartment.
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True. Though not all landlords do, some are open to negotiating if it will help them rent a unit.
5.
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.