1. What kind of home would you like to have?Look on-line at home listings and choose one.There are many helpful sites including Zillow.com, mls.com, and others.Give a brief descriptions of the property you found (you may cut and paste the online description if you like) including the price of the property.Suppose you have saved enough money to make a 20% down payment.Determine how much money you will have to borrow to buy the home.Currently, a person with good credit may be offered a 30-year mortgage at 3.75% annual interest.Under these conditions, what will your monthly mortgage payment be?

To summarize, your answer should include:

• The price of the property
• The amount of the mortgage (after a 20% down payment)
• The amount of each monthly mortgage payment (30 years, 3.75%)