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Buying a home

Name _________________________ Date _______________

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3.time in years for the mortgage
6.when buying points, the interest will _________
8.a fee paid to buy down the interest rate
12.bank will lend you the money but it is not free, they will charge ____
14.debt-to-income ratio
15.15-year mortgage
1.7-year mortgage
2.when purchasing a home, it is called a ______________________
4.borrow money in order to buy a house
5.amount of money a borrower pays upfront on a real state purchase
7.interest and payments can change over the life of the loan
9.interest and payments can change over the life of the loan
10.borrow money
11.interest and payments stay the same for the life of the loan
13.30-year mortgage

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