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Personal Finance Courses: Housing

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1.
An amount paid to secure a price agreement is called _______.
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Earnest money. To secure the agreed price, the buyer is expected to give earnest money to the seller to secure the agreement.
2.
When you make a mortgage payment, all of it goes toward interest.
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False. It's a mix of both, though the proportion that is interest declines over the life of the loan.
3.
It is possible to negotiate the rent on an apartment.
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True. Though not all landlords do, some are open to negotiating if it will help them rent a unit.
4.
An advantage of _______ is that you can build equity.
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Owning a home. When you own a home, the money that you paid on it will be your equity.
5.
Renter's insurance exists to protect whose belongings?
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The renter's. Renters buy insurance to protect themselves from the financial effects of losing their belongings.