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1.
All offers to purchase a home are accompanied by a(n) _______ deposit.
Earnest money. When you make an offer on a house, you must include a good faith deposit known as earnest money.
2.
When selecting a real estate agent, it is a good idea to _______.
Interview several agents before signing a contract. You want to know what types of homes the agent usually sells as well as what the commission rate is and what services are included.
3.
Sources of information about homes you might be interested in include _______.
The Internet. Numerous Websites on the Internet list homes in your area for sale, and include pictures, prices, and descriptions.
4.
A FICO score of 750 is considered by lenders to be a good score.
True. FICO scores above 670 are viewed as strong scores, while those below 600 are viewed poorly and result in poor credit terms.
5.
How much of your gross monthly income should your total debt load take up at the most?
40 percent. All of your loans, including mortgage, car, student, credit card, etc., shouldn't add up to more than 40 percent of your gross monthly income.