How to Calculate Home Equity & Down Payments

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is home equity?

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1. What is the home equity calculation?

2. What is a down payment on a home?

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About This Quiz & Worksheet

This quiz and corresponding worksheet tests your general understanding of home equity and down payments. To pass the quiz, you'll need to know definitions, calculations and factors that affect down payments.

Quiz & Worksheet Goals

Use these assessment tools to check your knowledge of:

  • The definitions of home equity and down payment
  • Home equity and down payment calculations
  • Factors that affect the amount needed for down payments
  • Best practices for acquiring down payments

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related home equity and down payment lesson
  • Information recall - access the knowledge you've gained regarding effective ways to get money for a down payment
  • Knowledge application - use your knowledge to answer questions about home equity and down payment calculations

Additional Learning

To learn more about home equity and down payments, review the accompanying lesson called How to Calculate Home Equity & Down Payments. This lesson covers the following objectives:

  • Learn how down payments affect mortgage rates
  • Explain how to use home equity as a down payment
  • Understand the importance of down payments
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