1. Choose a building or some other form of real property you would like to purchase.  Use Realtor.com or Zillow.com to find a suitable property
   • Include a picture of the property along with the for-sale detail in your project.

 

1. Assume you will make a 20% down payment and finance the remaining balance as a mortgage payable.

 

1. Go to Bank of America's website and choose a mortgage term and interest rate.  Assume you have good credit and will qualify for the loan.  What type of loan did you choose and what is the term of the loan and the annual interest rate? Explain why you made this choice.

https://www.bankofamerica.com/mortgage/mortgage-rates/

 

1. Using excel and formulas within excel, prepare an amortization schedule for the entire life of the mortgage. See an example posted on blackboard.

 

1. How much interest will be paid over the life of the loan?