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5: Make Your Housing Plan — I Want to Own

Check Your Knowledge

Can you identify warning signs of an unscrupulous lender? Click on “Probably Trustworthy” or “Run Away!” below. The correct answer will be highlighted after you make your selection.

Overstates your income on a loan application.

  • Probably Trustworthy
  • Run Away!

Provides you with state credentials and certifications.

  • Probably Trustworthy
  • Run Away!

Has you leave a signature line blank.

  • Probably Trustworthy
  • Run Away!

Gives you a Truth in Lending pamphlet. 

  • Probably Trustworthy
  • Run Away!

Asks for verification of your stated income. 

  • Probably Trustworthy
  • Run Away!

Changes information you provided on the application. 

  • Probably Trustworthy
  • Run Away!

Has you paying interest daily if your loan payment is late. 

  • Probably Trustworthy
  • Run Away!

Puts you into a loan where the payment is due in full at the end of a short period of time. 

  • Probably Trustworthy
  • Run Away!

Says there is a prepayment penalty if you pay off the loan within five years. 

  • Probably Trustworthy
  • Run Away!

Presents “more paperwork” to be signed late in the process. 

  • Probably Trustworthy
  • Run Away!
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