Personal Finance Unit 3.3 Real Estate and Other Investments

What can be the best type of safety net in hard times? Mortgage
Generally, you need ti live in a home _________ years to break even on closing costs. three
What is generally the most complicated financial transaction the average American will ever undertake? Buying a home
Real estate is considered a/an _________ investment. illiquid
Individual mortgage interest rates are generally determined by what? The individual’s credit score
What is PMI? Personal mortgage insurance
Who dictates how much insurance a homeowners must carry on their property? The bank that holds the mortgage
Assuming you have a 30-year fixed-rate loan, you’re paying ____% interest during the first few years. 90
Why is investing in gold beneficial? It is considered a stable investment.
What type of insurance may a homeowner need? All of the above. (Hurricane, flood, and firestorm)

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