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CHAPTER XII
You've made it! Closing day
  1. Which list of items comprises closing cost fees?

    a) Lender fees, third-party fees, credit report and escrow/interest fees.
    b) Application fees, government fees, title search and insurance fees escrow/interest fees.
    c) Points and origination fees, attorney's fees, transfer taxes, documentary stamp fees.
    d) Property appraisal fees, survey fees, inspection fees, escrow/interest fees.
    e) Any of the above could be included in closing costs.
  2. How much should you figure on paying in closing costs?

    a) 3 to 5 percent of the loan amount
    b) 20 percent of the loan amount
    c) 1 percent of the loan amount
    d) 10 percent of the loan amount
  3. Which of the following best describes the definition of an escrow account?

    a) An escrow account is a type of collateral.
    b) An escrow account is a type of real estate property tax.
    c) An account held by the lender into which the home buyer pays money for real estate tax or insurance premiums.
  4. True or false: Borrowers with long-term, fixed-rate loans will always pay the same loan amount each year.

    a) True
    b) False

TABLE OF CONTENTS

CHAPTER I
  Lesson 1
  Quiz

CHAPTER II
  Lesson 2
  Quiz

CHAPTER III
  Lesson 3
  Lesson 4
  Lesson 5
  Quiz

CHAPTER IV
  Lesson 6
  Lesson 7
  Quiz

CHAPTER V
  Lesson 8
  Lesson 9
  Quiz

CHAPTER VI
  Lesson 10
  Lesson 11
  Quiz

CHAPTER VII
  Lesson 12
  Lesson 13
  Lesson 14
  Quiz

CHAPTER VIII
  Lesson 15
  Lesson 16
  Lesson 17
  Lesson 18
  Quiz

CHAPTER IX
  Lesson 19
  Quiz

CHAPTER X
  Lesson 20
  Quiz

CHAPTER XI
  Lesson 21
  Quiz

CHAPTER XII
  Lesson 22
  Lesson 23
  Lesson 24
  Quiz

CHAPTER XIII
  Lesson 25
  Lesson 26
  Lesson 27
  Quiz

CHAPTER XIV
  Lesson 28
  Lesson 29
  Lesson 30
  Quiz

Definitions

 
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