Question 21

The tax deductible expenses related to home ownership are

	A.	homeowner's insurance and property taxes.
	B.	mortgage interest and property taxes.
	C.	home improvements and mortgage interest.

Question 22

____ insurance is generally required when a borrower makes a minimum down payment.

	A.	Homeowner's
	B.	Title
	C.	Mortgage
	D.	Liability

Question 23

Before searching for a house to buy, you should

	A.	prequalify for a mortgage.
	B.	obtain a copy of your credit report.
	C.	adjust your budget accordingly.
	D.	all of these

Question 24

A point, as defined in the real estate market, is ____ percent of the loan amount.

	A.	1
	B.	one-half of
	C.	1 and one-half
	D.	2

Question 25

Homeowners today often spend up to ____ percent of disposable income on housing.

	A.	30 to 40
	B.	50 to 60
	C.	60 to 70
	D.	40 to 50