Home Buyer IQ Quiz

It's fast and easy
Are you thinking about buying a home? Before you start checking out home prices in your area or shopping mortgage rates, take this quiz to see if you have the basic know-how to navigate the home-buying process. Once you're finished, go find your dream home and estimate your monthly costs with our mortgage calculator. Good luck!

Question 1

      Correct!

      Incorrect!

      Your score -

      What's the next step?
      • Clean up your credit: Before you start house hunting and getting pre-approved for a home loan, check your credit report and get your FICO scores. Checking your credit rating in advance will give you time to correct reporting errors and to clean up your ratings.
      • Figure out how much you can afford: You can calculate how much you can afford using an online affordability calculator. Keep in mind, you'll need money for a down payment, closing costs, fees (such as fees for an attorney, appraisal, inspection, etc.) and the costs of remodeling or furniture.
      • Educate Yourself about Mortgages: Learn about mortgage basics including getting pre-approved for a mortgage, choosing a mortgage lender and questions to ask mortgage lenders.
      • Seek Professional Guidance: Read online agent ratings and reviews to find about agents in your area. Get real estate agent recommendations from your friends and family. Talk to at least three or four agents. Ask lots of questions and make sure they have answers that satisfy you.
      • Look for the Right Home: Ask yourself how many bedrooms and bathrooms you'll need and get an idea of how much space you desire. Think about the kind of neighborhood you want, types of schools in the area, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns as well as how good the rate of home appreciation is in the area.
      Mortgage Resources

      Zillow is full of great information to help you get your home purchase moving. Check out the Mortgage Help Center for guidance and then shop for low mortgage rates on Zillow Mortgage Marketplace.

       
       
       
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