About This Chapter
How It Works:
- Find the lesson within this chapter that corresponds to what you're studying in the Financing Housing chapter of your textbook.
- Watch fun videos that cover the home financing topics you need to learn or review.
- Complete the quiz after watching each video lesson to test your understanding.
- If you need additional help, rewatch the videos until you've mastered the material, or submit a question for one of our instructors.
You'll learn all of the home financing topics covered in the textbook chapter, including:
- Home-buying process
- Mortgage rates and reverse mortgages
- Deeds of trust
- Closing costs and title insurance
- Tax assessments for real estate
- Home selling strategies
- Different types of housing
Focus on Personal Finance is a registered trademark of McGraw-Hill and is not affiliated with Study.com.
1. Renting vs. Buying a House: Pros, Cons & Costs
For many people, buying a house makes more sense than renting a house. But others choose to rent a house instead after weighing both the pros and cons of each.
2. Types of Housing: Overview & Examples
Everybody lives somewhere. Some live in a house while others live in an apartment. But did you know that you can actually live in a house by purchasing stocks from housing cooperatives? Learn about this and other types of housing in this lesson.
3. Buying a Home: Steps & Process
Part of the traditional 'American Dream' is home ownership. In this lesson, we'll discuss the primary steps and decisions a buyer must make when finding and purchasing a home.
4. Buying a House: Mortgage Types & Loan Length
In this lesson, we'll discuss the three types of mortgage loans: Federal Housing Authority, conventional, and Veteran's Administration. You'll also learn about the two main repayment options: 15 years and 30 years.
5. What is a Reverse Mortgage? - Uses, Pros & Cons
Older homeowners sometimes take advantage of a special loan called a reverse mortgage. In this lesson, learn how these homeowners can tap into the equity in their home through a reverse mortgage, along with the pros and cons of such a loan.
6. Mortgage Rate: Definition & Types
During the exciting process of buying a home, most buyers need to also decide on what type of mortgage they want. In this lesson, we'll discuss the most popular types of mortgages and some of the benefits and costs of each.
7. Closing Costs for the Seller & Buyer
In this lesson we will define closing costs and examine the typical costs paid by buyers and sellers as part of a real estate transaction. We will also discuss how costs can be divided or prorated at closing.
8. What is Title Insurance? - Definition & Purpose
Title insurance differs from most types of insurance. Policyholders are protected from liabilities that have occurred in the past as opposed to something that may occur in the future. Learn what title insurance is and why it is an important part of real estate transactions.
9. What is a Deed of Trust? - Definition & Overview
Many lenders don't utilize mortgages when financing property but rather use deeds of trust. In this lesson, you'll learn what a deed of trust is and be given a general overview of it. A short quiz follows.
10. Real Estate Tax Assessments & Appeals
In this lesson, we'll discuss property taxes and how they're calculated. We'll also discuss real estate assessments and how they can be formally challenged.
11. Selling a House: Strategies & Process
Part of the American Dream is owning your own home, but at some point, you may want to sell that home. In this lesson, we'll talk about some common home selling strategies, and the basic process involved.
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Other chapters within the Focus on Personal Finance: Online Textbook Help course
- Ch. 1: Personal Finance Planning
- Ch. 2: Money Management Skills
- Ch. 3: Taxes in a Financial Plan
- Ch. 4: Financial Services
- Ch. 5: Consumer Credit
- Ch. 6: Buying Motor Vehicles
- Ch. 8: Insurance
- Ch. 9: Health & Disability Insurance
- Ch. 10: Planning with Life Insurance
- Ch. 11: Investing Basics
- Ch. 12: Investing in Stocks
- Ch. 13: Investing in Mutual Funds
- Ch. 14: Retirement & Estate Planning
- App. A: Education Loans & Scholarships
- App. B: Career Search Strategy
- App. C: Consumer Agencies & Organizations
- App. D: Daily Spending Diary