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 other 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. this assignment requires you to select, and secure a copy of, a property listing which is representative of a real estate investment goal you may wish to pursue. 2. Saving for your Goal students must perform several calculations to first determine the total transaction costs that will be required in order to purchase the home they have selected, and then create a savings plan in order to have the funds to cover the transactions costs of purchasing the home according to the timeline they have set for themselves. Variations on these calculations will explore the effects of making financial planning adjustments. 3. Selecting a Mortgage: once the down payment has been accounted for, students must examine the mortgages (including interest rates and conditions) that are advertised and available through various financial institutions in order to finance the remaining cost of the home; select a mortgage and record the necessary data as indicated. Various financing options must be explored. 4. Mortgage Payment Calculations: finally, applying the relevant data points collected, and incorporating some additional considerations, students must calculate the corresponding monthly mortgage payments necessary to finance their home, by using an online mortgage calculator. Variations on these calculations will explore the effects of making financial planning adjustments. Please take note of following guidelines for the assignment: This is an individual assignment. Assignments submitted which prove not to be unique will be considered in violation of the academic honesty policy. Table templates are provided for assignment completion. All assignment work must be submitted on Blackboard. Submission of documents must be made in PDF format Submissions may be either one complete document, or several documents attached separately. Timely submission and navigating Blackboard is considered part of the assignment. A grading rubric is found at the end of this document. . . . .