Personal Finance Courses: Housing

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1.
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.
2.
_______ are fees you pay to the lender in exchange for a reduced interest rate on a home.
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Points. Points are fees you pay to the lender in exchange for a reduced interest rate. A point is 1% of the mortgage amount.
3.
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.
4.
A down payment on a home could cost as much as _______ of the actual price of the home.
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20%. This is generally the upper limit of a down payment.
5.
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.