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Definition
| goes toward down payment, shows you're serious about offer |
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| 15 or 30 years, most common |
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| get what you want, costs more, unique |
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Definition
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Term
| What do you think about when you buy a house? |
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Definition
| resale value, location, design, taxes, improvements |
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Definition
| finds your housing options, talks to other realtors, gives tours, commission |
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Definition
| appraisal fee, credit report fee, home inspection fee, attorney fee |
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Term
| What is the appraisal fee? |
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Definition
| appraiser inspects to figure out value of home |
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Term
| What is the attorney fee for? |
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Definition
| give to attorney for overseeing legal documents |
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Term
| What do you look for when choosing a checking account? |
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Definition
| features, fees (there is no such thing as free checking) |
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Term
| What is the difference between debit and credit? |
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Definition
debit: pin #, comes out of checking account c
credit: sign, get points, takes longer to process, comes out of checking account |
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Term
| How do you endorse a check? |
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Definition
sign on back
1) blank: just sign it
2) restricted: sign and write for deposit only
3) special: if says "and" both sign
if says "or" only one signs |
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Term
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Definition
| non profit, higher interest |
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Term
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Definition
| take your money, use it for loans with interest, to make profit |
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Definition
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Definition
| still have to take money to bank by foot |
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Definition
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Term
| electronic funds transfer (EFT) |
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Definition
| moves money from one account to another electronically |
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Definition
| plastic card used to buy goods and services without cash |
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Definition
| borrowing or using someone else's money and paying back later |
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Definition
| what you pay to use someone else's money |
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Term
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Definition
| agreement to borrow money and to pay back more than the borrowed amount |
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Definition
| an amount you pay in cash |
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Definition
| a promise of payment in the case of loss |
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Definition
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| the amount you pay when a loss occurs |
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Definition
| the purchase of an asset to make money |
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Definition
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Definition
| shows an ownership position in the company |
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| guides spending and saving |
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Definition
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Definition
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| What is the difference between credit cards, loans, and installment buying? |
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Definition
credit cards: you borrow money from the company
loans: you agree to borrow money and pay back more than the borrowed amount
installement buying: offered through the business that sells the product, down payment + montly payments |
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