Across
- 6. the fee charged by the lender on money borrowed.
- 7. the work of keeping something in proper condition.
- 8. the total amount of money outstanding on a loan.
- 9. a person that rents and occupies a property from another person for a period of time.
- 11. a type of home mortgage loan for which equal payments of interest and principal are paid over the life of the loan.
- 12. a periodic payment made from a tenant to a landlord in return for the use of rental property.
- 15. a person who owns and rents property to others.
Down
- 1. is a person that owns a home.
- 2. the gradual repayment of a debt in installment payments over a period of time.
- 3. a _______________ mortgage is a type of mortgage that has equal payments, typically over 15, 30, or 40 years based on a fixed interest rate.
- 4. a policy in which an individual receives financial protection against losses from an insurance company in exchange for a premium.
- 5. services such as electricity, water or refuse disposal provided by a city or organization.
- 7. the common term used for the type of loan taken out when purchasing a home.
- 10. money provided by a tenant to a landlord to compensate for possible loss or damage to the rental property.
- 13. is an organization run by homeowners for the purpose of managing a development of homes and maintaining property values.
- 14. __________ rate mortgage or ARM is a mortgage that provides for periodic changes in the interest rate, based on changing market conditions.