Unit 7 Crossword

Edit Answers
123456789101112
Across
  1. 5. A _____ rate mortgage is when the monthly payment and APR remain the same throughout the entire loan period.
  2. 8. The person who owns a property and rents it out.
  3. 10. A listing of the unpaid principal, the monthly payment, the amount allocated to paying down the principal and the amount allocated to paying interest.
  4. 12. The portion of the purchase price that is not borrowed.
Down
  1. 1. Extra costs that include origination fees, attorney fees, points, prepaid interest, transfer tax, and title insurance.
  2. 2. The person who rents a property.
  3. 3. A loan that is used to purchase real estate.
  4. 4. Extra fees charged by a lending institution for the use of their money.
  5. 6. The money the bank collects from borrowers for insurance and property taxes; the bank then pays these bills for the homeowners.
  6. 7. The monetary value of a property minus the amount owed.
  7. 9. A written agreement between a landlord and a tenant.
  8. 11. An _____ rate mortgage is when the interest rate will change based on market conditions, which means the monthly payment changes as well.