Follow Us: Google+
 
Bankrate.com

home equity
Home Equity Basics: Chapter 1 quiz

 

If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.

  1. True or false: Equity is the difference between what a home is worth and how much is owed on the mortgage.

    True
    False


  2. True or false: Home equity lines of credit are fixed-rate loans.

    True
    False


  3. Home equity loans are popular because:

    They are tax deductible.
    They are secured by a residence.
    The rates are lower than an auto or credit card rate.
    All of the above


Next Chapter >> 

-- Updated: April 1, 2006

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Home Equity Rates



advertisement
Most Read
  1. 10 ways to turn off a homebuyer
  2. No more Social Security at 62?
  3. What TV homes cost in real life
  4. 5 frugal ways to expand living space
  5. Naughty things credit card won't buy
  6. What it takes to remodel kitchen
  7. Danny Bonaduce's house for rent
  8. Bruce Willis' house for sale
  9. 12 meanest cars for the environment
  10. Celebrity estate planning mistakes
Home Equity Averages
Product Rate +/- Last week
$30K HELOC
4.99% 4.99%
$30K home equity loan
6.19% 6.17%
$50K HELOC
4.55% 4.52%
$75K home equity loan
5.91% 5.93%
View rates in your area:
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Don Taylorhome equity
Is your home equity lender making unreasonable demands? It might be time to tip off regulators.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.