Styles Read and review Chapter 9 to find the key terms needed to complete the following sentences. Enter those terms in the highlighted blanks 1. Lenders look at and (PITI) as a percentage that should go toward your monthly housing costs in determining how much debt you can afford. 2. The house secures the loan, so if you default or miss payments, the lender may your house to reclaim ownership of the property. 3. A percentage of the purchase price paid in cash towards the mortgage is the 4. With a mortgage, the interest rate remains the same over the entire maturity of the mortgage, and so does the monthly payment. 5. A mortgage loan is a schedule of interest and principal payments over the life of the 6. With an change (ARM), the interest rate-and the monthly payment-can 7. As an asset, a house may be used to secure other types of loans such as a a second mortgage. loan or are paid to the lender as a form of prepaid interest when the mortgage originates and are used to decrease the mortgage rate 9. The lender will have required an independent of the home's value to make sure that the amount of the mortgage is reasonable given the value of the house that secures it. when the purchase 10. You will be required to pay a nonrefundable deposit, on and sale agreement is signed