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1.
One way to save money when buying a house on your own is to look for _______ homes.
"For sale by owner". When a seller isn't using a realtor, the home's price will not include a realtor's commission, so it is likely to be lower than a home sold by a realtor.
2.
One factor weighed heavily within your FICO score is _______.
Your payment history. FICO scores are primarily based on how you have used credit in the past, and payment history is one of the most important indicators of whether you will pay loans back in the future.
3.
Your monthly mortgage payments should not exceed _______ percent of your gross monthly income.
25 to 30 percent. Lenders' guidelines require that your mortgage payment not exceed 25 to 30 percent of your gross monthly income.
4.
If you make a written purchase offer on a house that is accepted by the seller, you can change your mind later and back out.
False. A written purchase offer on a house is a binding contract, and once the seller has accepted your offer, you can't change your mind unless you are exercising a contingency set forth in that contract.
5.
When you work with a Realtor, he or she will come up with a list of potential homes for you to look at.
True. One of the most important jobs of a Realtor is to comb through home listings and come up with a list that fits your price range, needs, and lifestyle.