Buying a House

2. A ________ Rate Mortgage is a home loan with an interest rate that does not change during the mortgage term.
5. Fees you pay your lender at the time you buy a house. These costs can include fees for appraisal, title insurance, and inspections.
6. A response to an offer that suggests specific changes.
7. An estimate of a home’s value based on its features and the value of comparable homes.
10. An examination to certify the condition of a home, including the roof, foundation, basement.
12. A portion of the price of a home that the buyer deposits as evidence of good faith to indicate a serious purchase offer.
13. A monthly fee to cover the cost of maintaining shared community areas.
14. A person whose job it is to help buy or sell houses, for people.
15. A legal document that defines the conditions of a rental agreement.
16. A long-term loan on a specific piece of property such as a home or other real estate.

1. A ________ Rate Mortgage is a home loan with an interest rate that can change during the mortgage term due to changes in market interest rates.
3. A condition that must be met before a sale is finalized.
4. The reduction of a loan balance through payments made over a period of time.
8. A document from a lender that states how much and what type of loan you are expected to qualify for.
9. A document that transfers ownership of property from one party to another.
10. According to the 28-36 Rule, a person should spend at most 28% of their gross income on their ________ costs.
11. According to the 28-36 Rule, a person should spend at most 36% of their gross income on ________ ________ payments.