lect the term associated with making housing decisions that corresponds to each of the given descriptions. $($Note: These are not necessarily

mplete definitions, but there is only one possible answer for each description.$)$

Description

Term

This insurance policy protects the mortgage lender from a default by its mortgage borrower, and it is

typically required when the borrower uses a down payment that is less than $20\%.$

This is the general name used to refer to and quantify the fees charged by lenders at the time they

grant a mortgage loan.

this is the ratio of the maximum loan that a lender is willing to make to purchase a property divided by

the cost of the property.

This is a deposit made to the seller to express the intent of purchase so that the offer is considered

seriously.

This refers to the situation in which a homeowner is unable to make the principal and interest payments

on his or her mortgage, so the lender can seize and sell the property as stipulated in the terms of the

mortgage contract.