High Intermediate - 8.6 Flashcards


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Applying for a Mortgage
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1

burden

culeys

something difficult that you have to deal with or worry about

EXAMPLE: Owning a home can be a burden: You have a monthly mortgage payment, and what's more, you are responsible for all of the repairs!

2

financial status

heerka dhaqaale

your position as it relates to money

EXAMPLE: If you want to take out a loan, the banker will take a look at your financial status. She wants to make sure you will be able to pay the money back.

3

fall behind on

gadaal u dhacaan

to not pay your debts on time

EXAMPLE: When she lost her job, she started to fall behind on her mortgage.

4

adjective: financially stable

(noun: financial stability)

dhaqaale ahaan xasilloon

to have enough money to live on

EXAMPLE: Now that he has a good job and little debt, Luis is financially stable. He doesn't have to worry anymore.

5

terms and conditions

xeerarka iyo shuruudaha

the rules

EXAMPLE: Before you agree to a loan, read the terms and conditions carefully. Make sure you understand your responsibilities.

6

budget

miisaaniyad

a plan that shows how much money you have and how you will spend and save it

EXAMPLE: We are tired of running out of money before the end of the month. My husband and I studied our finances and created a budget. We are careful to follow our new savings and spending plan.

7

calculate

xisaabiso

to discover an amount or number using math

EXAMPLE: Let's look at our budget and calculate how much money we can afford to pay each month for a mortgage.

8

credit report

warbixinta amaahda

a record of your debt and payments of debt over a period of time

EXAMPLE: I applied for a credit card. The bank said they would run my credit report and let me know if I qualified.

9

foreclose on

saadaalin

to take back property (house / land) that was bought with borrowed money because the money was not being paid back on time

EXAMPLE: After the man lost his job, he stopped paying his mortgage. The bank foreclosed on him.

10

gather

ururin

to collect things together

EXAMPLE: I want to apply for a mortgage. I need to gather my pay stubs, social security card, and other important documents so I can show them to the banker.

11

lender

deyn bixiye

a company that lends money

EXAMPLE: If you want to take out a mortgage, apply with local banks, national banks, and online lenders.

12

mortgage broker

dillaaliinta guryaha

a person who helps a borrower find the best mortgage

EXAMPLE: Some people use the services of a mortgage broker when they want to find the best mortgage that will meet their needs.

13

pay stub

Lacag bixin

the record of how much you earned in a pay period and how much was withheld

EXAMPLE: My pay stub shows my gross pay and my net pay. I can study it to find out about my withholdings.

14

process

hab loo qabto

the steps you need to take to complete a task

EXAMPLE: If you want a mortgage, you will find that the application process is long and sometimes confusing. Be sure to ask for help.

15

take on

waxqabasho

to accept responsibility for something

EXAMPLE: Are you sure you make enough money to take on a car loan? Maybe you should wait until next year to buy a new car.

16

the time is right

waqtiga waa sax

now is a good time to do something

EXAMPLE: Now that both parents have stable jobs, they think the time is right to start looking for a home to buy.

17

think twice

ka fikir laba jeer

be very careful before making a big decision

EXAMPLE: Before you buy a house, you should think twice. Are you sure your job is stable? Do you earn enough to cover the monthly payment? Are you sure you don't want to move to another city or state?

18

what's more

waxa intaa ka badan

in addition to this

EXAMPLE: He lost his job. What's more, his car broke down.

19

qualified

u qalma

you meet all of the requirements

EXAMPLE: The lender said I was qualified for a loan because I met all of the requirements, such as earning enough money and having a good credit score.