Beruflich Dokumente
Kultur Dokumente
$ Buying a Home
Lesson Five
04/09
name: Kaitlyn Wetmore date: 11/24/17
1. Marla, age 22, plans to work full time while completing her college degree in a nearby city.
2. Bill, age 44, travels out of town frequently for his sales job. His company may transfer him
to another sales territory within a year or two.
RENT BUY DEPENDS
Considering the fact that his job is frequently moving him, it wouldnt be the smartest idea to invest in a home
when he may be moving a couple of months later.
3. Craig, age 32, recently completed his masters degree in business while working at the
same company for the past six years. He has also been able to save nearly $8,000 over
this time period.
RENT BUY DEPENDS
Since he is completed with college and has had a steady job for six years, it would make sense for him to invest
in a home looking at the fact that he might not be leaving anytime soon with how comfortable he is right now.
4. Jess, age 19, has just taken her first job as a sales representative trainee for a
computer software company.
RENT BUY DEPENDS
I think it all depends on how much money she is making since it doesnt seem like she is going to college so she
wouldnt have any student loans to pay off so she could invest in a home that way, but if she isnt making
enough money to pay for a mortgage on a house then it would be smarter to rent for a while.
5. Barb and Frank, ages 54 and 57, are planning to retire within the next few years.
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name: Kaitlyn Wetmore date: 11/24/17
facilities: 1.
shower drain
properly
exterior
construction: 1. No
curling shingles on
roof
2. no cracking on siding
4. Straightness
interior construction:
interior design:
1. Good layout
2. Lots of natural light
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name: date:
Type of mortgage:
(conventional, adjustable rate)
Length: (# years)
Mortgage amount:
Financial institution:
(address, phone)
Contact person:
Website:
Application fee:
Credit report:
Appraisal fee:
Interest rate:
Monthly payment:
Points:
Other information:
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name: date:
Using the following mortgage payment factors, calculate the monthly mortgage
payment for the following situations.
mortgage payment factors
(principal and interest factors per $1,000 of loan amount)
1. A 15-year mortgage at 8.5 percent for $75,000. ( $75,000 1,000) x 9.762 = $732.15
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4. T A larger down payment will reduce the amount of the mortgage needed.
5. F Conventional mortgages usually have a rate that changes as market
interest rates change.
multiple choice
A. mortgage
B. closing
C. possession
D. selling
case application
Roberto and Shelly have been able to save $7,000 for a down payment on a house. Roberto
would like to buy a large home that is a long drive from their jobs. Shelly would like a small
townhouse near their work. What factors should they consider when buying a home?
They need to factor in how much they can afford since prices go up for larger houses but also if
they are in good areas, then they both have to agree on where to live, and finally they should
look at payment types and mortgages.
www.practicalmoneyskills.com buying a home quiz 5-5