Planning to buy a home in the wayne county / metro Detroit Michigan area? Test your knowledge of the home buying process by taking Steve's on-line home buyer quick quiz!
Steve Hatfield - Dearborn Michigan Realtor - Century21 Curran and Christie - DearbornHomes.com Steve Hatfield, Realtor, ABR, CRS, e-PRO
home buyer guide and tips help with buying a house century 21 centery century21 century 21 curran and christie

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.Buyer Quick Quiz.

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1.  What is an "Appraisal?".
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.A). The opinion of condition of the property as determined by a licensed inspector
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.B). The opinion of your range of qualifications as determined by the bank
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.C). The opinion of value of the property you purchase as determined by a licensed bank appraiser
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.D). All of the above
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2.  Who is the "Mortgagee?".
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.A). The bank / lender
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.B). The person getting the mortgage
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.C). The person / loan officer that takes your application
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.D). None of the above
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3.  Private mortgage insurance insures the lender against foreclosure losses.
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.A).True
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.B).False
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4.  What is a "Quit Claim Deed?".
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.A). An legal document used to claim your interest in personal property
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.B). A legal document that says you "Quit" the transaction
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.C). A legal document used to convey all or part of your interest in a property to another person
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.D). All of the above
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5.  What is an A.P.R. (Annual Percentage Rate?).
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.A). The interest rate your lender charges you for your loan.
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.B). The full cost of a loan including interest and loan fees.
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.C). A formula that your lender uses to calculating a 15 or 30 year mortgage interest rate.
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.D). All of the above
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6.  What are Points?.
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.A). A fee that sellers must pay when their buyer is getting an FHA or VA loan.
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.B). A fee that all lenders charge a borrower to process a loan application.
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.C). An up-front fee or prepaid interest generally paid to a lender to lower your interest rate.
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.D). All of the above
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Contact Steve.
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Steve Hatfield .
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REALTOR® ABR, CRS, e-PRO Certified
CENTURY 21 Curran & Christie.
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
eMail:


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Michigan Real Estate Salesperson.
License Since 1986 - #6501221773
REALTOR Accredited Buyer Representative Certified Residential Specialist e-PRO
Real Estate Internet Warning
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Steve Hatfield, Realtor® provides real estate / home buying and selling services in Dearborn Michigan, Dearborn Heights Michigan, the Wayne County MI (Southeast Michigan) communities of Redford, Westland, Garden City, Livonia, Canton, Plymouth, Northville and the Oakland County cities of Farmington / Farmington Hills and Novi Michigan.

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Equal Housing Opportunity.

In accordance with the law, the properties and real estate services featured on this web site are offered without respect to race, color, creed, sex, national origin, physical limitations, or familiar status.


REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to it's strict Code of Ethics.

2000 Century 21 Real Estate Corporation © and sm trademark and servicemark of Century 21 Real Estate Corporation. Equal Housing Opportunity. Each office Independently Owned and Operated.

Copyright © 1996 - Steve Hatfield
COPYRIGHT NOTICE:.
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