Take this quiz to see how much you know about paying off your mortgage.
A. What are the different ways you can make extra payments toward your mortgage? Choose only one.
B. What are the different ways you can adjust your principal and interest amount? Choose only one.
C. The Smith Manoeuvre is:
D. If your home is worth $200k and you wish to borrow $50k then the loan-to-value would be:
E. An excellent credit score is: Choose only one.
On a scale of 1 - 10, rate yourself on a scale from 1 (low) to 10 (high).
Pop Quiz Scoring System
Give yourself the followings points for each of the questions above.
|
A. 1. 5 points 2. 5 points 3. 5 points 4. 15 points |
B. 1. 5 points 2. 5 points 3. 5 points 4. 10 points |
C. 1. 0 points 2. 10 points 3. 0 points 4. 0 points |
|
D. 1. 0 points 2. 0 points 3. 0 points 4. 5 points |
E. 1. 5 points 2. 0 points 3. 0 points 4. 0 points |
For questions F – Q, score the number you put for each of those questions, then add up you score.
If you scored 0 to 60, then you should read this book (twice).
If you scored 65 to 115, some information in this book will be useful to you.
If you scored over 120, you should’ve written this book a long time ago to help everybody else out!
