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1.
If you take out a loan from your employer's 401(k) plan, who sets the loan fees for it?
Your employer. Your employer sets this condition, along with certain others.
2.
In home-buying terms, "seller financing" means _______.
The seller of a home finances the mortgage loan on that home. Seller financing refers to the seller giving credit to a buyer, who then pays for the home via a mortgage loan.
3.
Because they are intended to help new homeowners, first-time homebuyer programs do not have restrictions on who can qualify for them.
False. Even these programs seek to protect themselves from risk. They set out several requirements of those who apply.
4.
If you decide to take out a private home loan from a family member, there is never any need to draw up formal contracts for it.
False. Even family loans benefit from contracts. Contracts protect both parties from adverse circumstances.
5.
The Veterans Administration _______ home loans to eligible recipients.