Unit 3: Getting a mortgage may be easier than you think!

Checking the facts

Vocabulary to remember

Fill in the blanks.

1. The ____________________ is the amount of money you actually borrow or the amount of the loan that is still unpaid.

2. The charge for using the lender’s money is the ____________________.

3. The more ____________________ you pay on a loan, the lower the interest rate will be.

4. The ____________________ is the part of the purchase price the buyer pays in cash at the time of sale.

5. ____________________ include the loan application fee, credit report fee, and the attorney fees.

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