Personal Finance Courses: Housing

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Whom does title insurance protect?
Choose wisely. There is only one correct answer.
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.
2.
What kind of loan uses the equity in your home as collateral so that you can borrow money?
Choose wisely. There is only one correct answer.
Home equity loan. Your home equity is the difference between what you own (the current market value of your property) and what you still owe on the property. You can take out a loan against this amount, called a home equity loan.
3.
Having a cosigner when you sign a lease on an apartment can be helpful if _______.
Choose wisely. There is only one correct answer.
You have bad credit or not enough credit history. Having a cosigner might make a landlord more willing to rent to you than if you did not.
4.
Owning a home is _______.
Choose wisely. There is only one correct answer.
None of the above.It depends on many factors, such as location and the state of the housing market.
5.
Tenants renting apartments are liable for _______.
Choose wisely. There is only one correct answer.
None of the above. Tenants do not pay any of these, though their landlords do pass some of the costs onto them indirectly through their rent.