Assignment # 3 - Home Financing Project Objective The purpose of this assignment is to familiarize students with the process of budgeting for the purchase and financing of a home, or another significant financed purchase, as well as building awareness of key factors not to be overlooked throughout this process. Overview This assignment is comprised of four parts: 1. Selecting a Property Goal: Students must select, and secure a copy of, a current property listing which is representative of a real estate investment goal they may wish to pursue. 2. Budgeting for your Goal: Students must perform several calculations to determine the total transaction costs, including both the down payment and closing costs, that will be required in order to purchase the home they have selected. Variations on these calculations will explore the effects of making financial planning adjustments 3. Evaluating Financing Options: Students must examine the advertised mortgage options available through various financial institutions, considering several financing contract factors, in order to finance the remaining cost of the home. Various financing options will help expose the impacts of different mortgage factors 4. Paying Off the Mortgage: Finally, applying data collected, previous decisions made and incorporating some additional considerations, students must calculate the corresponding monthly mortgage payments by using an online mortgage calculator. Variations on these calculations will explore the effects of making financial planning adjustments