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Welcome > Resources > Trivia ...We've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun...
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What Newport, Rhode Island mansion was built as a birthday present and incorporates 500,000 cubic feet of white marble?
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The Vanderbilt Marble House was constructed by railroad baron William K. Vanderbilt for his wife Alva, who later divorced him, remarried and moved into a mansion down the street.
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What home product makes lawn mowing easier than ever?
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The Robomow, a robot lawn mower manufactured in the UK by Friendly Machines, can cut 6,000 square yards of lawn all by itself.
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What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
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The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology.
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Where is the world's oldest hotel?
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The Hotel Ryokan in the village of Awazu, Japan dates back to AD 717, when an inn was built near a hot spring reported to have miraculous healing properties.
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What real estate board game became the best-selling game in America just one year after it was created?
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Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies.
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First Time Buyers >Good Faith Estimates
Several years ago the U.S. Congress tried to protect consumers from a few unscrupulous lenders by requiring all lenders to calculate and disclose the annual percentage rate (APR) you pay on your mortgage loan. But most homebuyers will learn more by directing their attention to the Good Faith Estimate of Settlement Costs (GFE). Although Congress meant well, in practice the APR is not helpful and may be confusing.
If you are looking for a good way to understand your costs of borrowing and/or to compare one lender's costs to another, the GFE is your best bet. Get your lender(s) to provide a written GFE before you commit your mortgage business. When reviewing a GFE, keep in mind that the lender actually controls only a certain portion of the disclosed costs. Other parties typically control costs of appraisal, settlement, title insurance, recording fees and taxes, survey, and the "prepaid" expenses of homeowner's insurance, mortgage insurance, real estate taxes, etc. Review these origination fees, discount points, etc. and you will have the ability to understand the full costs of your proposed mortgage loan.
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NUMBER1EXPERT®
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All rights reserved. All information deemed reliable but not guaranteed.
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