Which of the following is a key component of a real estate contract?

What does PMI stand for in mortgage terms?

In a fixed-rate mortgage, the interest rate:

A larger down payment on a home can result in lower monthly mortgage payments.

In a variable-rate mortgage, the interest rate is fixed for the entire loan term.

Match each real estate term with its correct definition.

Match each mortgage type with its correct characteristic.

Arrange these loan terms in order of increasing monthly payment amounts, starting with the lowest payment (longest term to shortest term): 30-year mortgage, 20-year mortgage, 15-year mortgage, 10-year mortgage.

Rank the following down payment percentages from smallest to largest: 5%, 10%, 15%, 20%.

How might understanding mortgage basics influence your decisions when purchasing a home?