Which Of These Expense Types And Answers Is True

Question: What is usualy an advantage of homeownership?

Answer: Tax benefits

Question: When creating a speding plan, you use your gross montky income ?

Answer: False

Question: Which of these expense types and answer is true ?

  1. Fixed expenses

  2. 2. Periodic fixed expenses

  3. 3. Flexible expenses

  4. 4. Indebtedness expenses

  5. Answer: Indebtedness : minumum monthly payments you make on your loans and credits cards

  6. Question: Which are all parts of the mortgage payment ?

  7. Answer: -principal

  8. -interest

  9. -taxes

  10. -insurance

  11. Question: The down payment is an upfront cost homeownership?

  12. Answer: True

  13. Question: The 4 Cā€™s are?

  14. Answer: -Capital

  15. -Capacity

  16. -Credit History

  17. -Collateral

  18. Question: The housing ratio is used to determine how much your groas montly income can be used to make the montly mortgage paymet plus all existing debt payments ?

  19. Answer: False

  20. Question: A prequalification is a guarantee from lender to loan your money ?

  21. Answer: False

  22. Question: There is only one type of credit history ?

  23. Answer: False

  24. Question: Your payment history makes up the largest portion of your credit score?

  25. Answer: True

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