Homebuyer Education Learning Check Module #1: Understanding your Monthly Mortgage Payment Question Title * 1. Name Question Title * 2. Phone Question Title * 3. Email Question Title * 4. When should you actively start looking at homes? The moment you decide you want to buy After you are Buyer Ready Yesterday When your friend does Question Title * 5. Earnest Money is a portion of your down payment True False Question Title * 6. You’ll need to have additional savings on top of your down payment to cover extra upfront costs such as: Earnest money Inspection and appraisal Credit report Question Title * 7. Select the grouping below that is in the correct order: Work on action plan, become Buyer Ready, make an offer, review closing documents Review closing documents, work on an action plan, become Buyer Ready, make an offer Become Buyer Ready, work on an action plan, make an offer, review closing documents Question Title * 8. Once you are buyer ready, you should open new credit cards, buy a new car and spend your down payment savings True False Question Title * 9. You will usually receive the keys to your new home: At closing After the transaction has been “funded and recorded” Before closing At the first showing Question Title * 10. It is the buyer’s responsibility to contract a home inspector True False Done