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16 Cards in this Set
- Front
- Back
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amount of home buyer's own money required by the lender for the purchase of a home
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down payment
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insurance that pays off a mortgage if the borrower defaults
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mortgage insurance
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fees charged by a lender at the time it grants a mortgage
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points
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laws establishing a maximum legal interest rate
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usury laws
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expenses paid at the time that a loan is finalized and the title is conveyed to the buyer
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closing costs
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mortgage loans on which interest rates are periodically adjusted
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variable rate mortgages
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taxes levied by local governmnets to fund services such as education and plice protection
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property taxes
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insurance that covers the replacement cost of a house and its contents
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homeowner's insurance
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conversion of low-cost apartment into middle- and upper-middle-class housing
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gentrification
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a legally set maximum rent on an apartment
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rental ceiling (rent control)
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prices regulated by the government
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administered prices
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housing units owned and operated by a local public housing authority but federally subsidized and often federally regulated
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public housing
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government payments to landlords who build housing for the poor
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subsidies to developers
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amount determined by HUD ot be reasonable rent for low-income housing
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fair market rent
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ousing subsidy in the amount of the difference between fair market rent and 30% of a poor famil's income
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housing voucher
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measure of segregation
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index of dissimilarity
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