Choose wisely. There is only one correct answer to each question.
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1.
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.
2.
_______ is when a realtor nudges you in the direction of higher-priced homes.
Up-selling. Since a realtor's commission is based on the sale price of the home, they don't have anything to lose by showing you and urging you to buy a higher-priced home that you can't really afford.
3.
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.
4.
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.
5.
Your monthly mortgage payments will typically be limited to mortgage principal and interest, plus insurance.
False. Your monthly mortgage payments typically include mortgage principal and interest, insurance, and real estate taxes.