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1.
The Veterans Administration _______ home loans to eligible recipients.
Guarantees. It does not make its own loans.
2.
Wealthy first-time homebuyers might be ineligible for first-time homebuyer programs.
True. Many such programs require that you earn less than a certain amount of money.
3.
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.
4.
Which form of seller financing refers to a buyer making payments on a home and then receiving title to the home only when the home is finally paid off?
Land contract. In a land contract, the buyer has equitable title, but not full title.
5.
In a private home loan, when a "deed of trust" and promissory note are executed, your private lender can foreclose if you default on the loan.
True. Although few private lenders would go so far, your lender holds a lien on your property and has the same rights as a bank.