Questions from Personal Finance

Q: What are closing costs? List and briefly describe the different closing

What are closing costs? List and briefly describe the different closing costs you might incur when applying for a mortgage.

Q: Describe the characteristics of a fixed-rate mortgage. Why do

Describe the characteristics of a fixed-rate mortgage. Why do certain homeowners prefer a fixed-rate mortgage to an adjustable-rate mortgage?

Q: List the three things that determine the amount of the monthly mortgage

List the three things that determine the amount of the monthly mortgage payment. Explain how each affects the payment.

Q: Discuss the characteristics of an adjustable-rate mortgage. What influences

Discuss the characteristics of an adjustable-rate mortgage. What influences your choice of a fixed- or adjustable-rate mortgage?

Q: What are the costs of renting a home?

What are the costs of renting a home?

Q: Describe some of the costs of buying a home. Are there

Describe some of the costs of buying a home. Are there potential tax savings associated with buying a home?

Q: Describe the features of graduated payment and balloon payment mortgages.

Describe the features of graduated payment and balloon payment mortgages.

Q: What is mortgage refinancing? Are there any disadvantages to refinancing?

What is mortgage refinancing? Are there any disadvantages to refinancing?

Q: Explain how a weak economy affects the values of homes.

Explain how a weak economy affects the values of homes.

Q: Briefly describe some of the term insurance options

Briefly describe some of the term insurance options