Getting a Mortgage
19 hours ago
mchancey
Save
Edit
Host a game
Live GameLive
Homework
Solo Practice
Practice
15 QuestionsShow answers
  • Question 1
    120 seconds
    Q.

    Liz and Rob purchased a house for $565,000. They put 20% down on the house. What was their down payment?

    answer choices

    $113,000

    $452,000

    $11,300

    $553,700

  • Question 2
    120 seconds
    Q.

    Marcus and Kenya purchased a house for $325,000. They put 15% down on the house. What is their mortgage amount?

    answer choices

    $48,750

    $276,250

    $32,500

    $292,500

  • Question 3
    120 seconds
    Q.

    Jen Sue got a $275,000 mortgage for 25 years at 6.0%. How much will the monthly mortgage payment be?

    answer choices

    $1,688.50

    $1,856.25

    $1,650

    $1,771

  • Question 4
    120 seconds
    Q.

    Juan put down 25% on a $190,000. What are the monthly mortgage payments for a 20 year loan at 7.5%?

    answer choices

    $47,500

    $142,500

    $1,148.55

    $966.08

  • Question 5
    120 seconds
    Q.

    Jill purchased a house for $155,000. She paid 15% down. What are her monthly mortgage payments for a 30 year loan at 8.0%?

    answer choices

    $967.05

    $231,750

    $23,250

    $1,017.11

  • Question 6
    120 seconds
    Q.

    Sam's mortgage was $164,000. The closing costs were 2 points and $3,500 in fees. What were his total closing costs?

    answer choices

    $3,280

    $3,500

    $6,780

    $160,720

  • Question 7
    120 seconds
    Q.

    Jacquelyn borrowed $333,333 to purchase her new home. Her closing costs were 1.5 points, $500 in attorney fees, and $375 in title fees. What were her total closing costs?

    answer choices

    $5,875

    $5,000

    $5,500

    $875

  • Question 8
    120 seconds
    Q.

    CHOOSE TWO ANSWERS: What is the mortgage amount and the monthly mortgage payments? Tommy and Ellen purchased a $99,000 house and put 10% down. Their mortgage is for 25 years at 7.5%.

    answer choices

    $9,900

    $89,100

    $658.45

    $676.74

    $91,575

  • Question 9
    120 seconds
    Q.

    Bryan wants to purchase a condo at Fox Run for $186,000. He is required to put 25% down. How much money must he have saved up for his down payment in order to purchase the condo?

    answer choices

    $37,200

    $189,500

    $46,500

    $4,650

  • Question 10
    120 seconds
    Q.

    Charlie and Rhonda bought a house for $258,000 and put 15% down. Their mortgage is for 30 years at 9%. What is the mortgage amount and the monthly mortgage payments? CHOOSE TWO ANSWERS.

    answer choices

    $38,700

    $219,300

    $234,780

    $1,889.98

    $1,765.37

  • Question 11
    120 seconds
    Q.

    The loan a person gets to purchase a house or a condominium is called a __________.

    answer choices

    principal loan

    interest term loan

    P&I loan

    mortgage

  • Question 12
    120 seconds
    Q.

    The percent of the mortgage amount paid at the closing is called _________.

    answer choices

    interest

    points

    appreciation

    title fees

  • Question 13
    120 seconds
    Q.

    What are some fees that a person can expect to incur at closing?

    answer choices

    attorney fees

    title fees

    points

    principal

    interest

  • Question 14
    120 seconds
    Q.

    The closing cost on a $150,000 mortgage were 2.5 points and $2,400 in fees. What were the total closing costs?

    answer choices

    $3,750

    $6,150

    $37,500

    $39,900

  • Question 15
    120 seconds
    Q.

    Kayla put down 18% on her apartment that had a purchase price of $175,000. How much money did she borrow to purchase the apartment?

    answer choices

    $26,250

    $143,500

    $31,500

    $148,750

Report Quiz
Join a game