1. Which one of the following is not a closing cost?
A. Inspection fees
B. Title insurance
C.
Down payment
D. Recording fees
2. Is the "good faith estimate" provided by the mortgage company binding?
A. Yes
B. No
3. When will I find out how much money I need to bring to closing?
A. One week before closing
B. Three days before closing
C. 24-hours before closing
4. Will I be able to pay for my closing with a personal check?
A. Yes
B. No
5. If I'm refinancing my home, do I need title insurance?
A. Yes
B. No
6. Which government form includes a list of my closing costs?
A. 1040
B. HUD-1
C. I-9
D. 401K
7. How long will my Owner's Title Policy protect me?
A. 1 year
B. 5 years
C. 99 years
D. As long as I or my heirs have an interest in the property
How did you do? Check out all the correct answers and explanations.
