Question

1. You've got your budget, credit history and saving in order. whats your next step before shopping for a home?

A. Shop for a mortagage B). Find a real estate agent C). Scan home for sale listing online D). Attand open house in neighborhoods you've considering.

2. Who is primarily responsible for detemining the market value of the home you want to buy .

A). The underwriter B). The apprisal C).The home inspector D). The real estate agent

3. The _______ represents the title company and facilitates the final transaction.

A).Real estate agent B). Underwriter C). Lender D). Closing agent

4.which two of these are essential for completing an initial mortgage loan application?

A). Home purchase price

B). Proof of income

C). Curren debt and credit history

D). Name of insurance agent

E). $2,500 in savings

5. Down payment programs offer grants and affordable loans to help offset the upfront costs of homeownership. TRUE or FALSE

6. Before you make an offer on a home, you should first make sure your mortgage loan application has recieved a _______

A). Predetermination B). Pre-evalution C). Pre-appraisal D). Pre-approval

Answer 1

1. Option A. Shop for a mortagage as we need right kind of mortgage as next step

2. Option B The apprisal

3.Closing agent

4.B). Proof of income and D). Name of insurance agent

5 True

6.D). Pre-approval