Question: please answer the questions & show work clearly :) Now let's buy a house. Find a listing for a house that you might be interested
Now let's buy a house. Find a listing for a house that you might be interested in purchasing. You can use a realtor or a listing from the area/town you are from originally. Attach a copy of the mos realtor or a listing from Ect. The house is limited to a listing price of $600.000 or less. Use the information to comp ted in purchasing. You can use a local (Fresno area) m originally. Attach a copy of the listing as part of the following 1. What is the listed price of the house? 4109.950 2. Mortgage lenders will want at least 20% of the price as a down payment What is your down payment? 93.990 3. What is the amount of money you need to finance to purchase the house? 4. Find you monthly mortgage payment. Research possible loans through an online financial resource (i.e. Bankrate.com, lendingtree.com...) Length of loan: years Rate for loan: Use the formula from class to determine. Monthly payment for loan: Show your work for the calculation. Amount of Interest you will pay on the loan over the life of the loan: If you housing costs should be no more than 33% of your monthly income, how much will your monthly income need to be to afford the house described
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