Question 1 Private mortgage insurance is usually required if the down payment for a home is less than 30%.

Question 1 options: True False Question 2 Which of the following is a disadvantage of renting

Question 2 options:

Tenants cannot take tax deductions for mortgage interest and property taxes.

Renters usually do not have to be concerned with maintenance and repairs

E.

Renting can be more convenient for those who move frequently.

Renters have fewer responsibilities than home owners

Question 3 Frank and Diane want to buy a house. Which of the following do they need before they purchase a house?

Question 3 options:

Mortgage principal

Home owner's insurance

Mortgage interest.

Down payment.

Question 4 What should a home buyer consider when evaluating a house?

Question 4 options:

Location of businesses and future construction projects

School system

Property values of the community.

All of these should be evaluated.