Assumptions (To be provided in exam)
House Purchase Price	250,000
Effective Tax Bracket	20%
Appreciation Rate	4%
Type of Loan	30 year -fixed
Interest Rate	7%
% Down Payment	20%
Annual Property Tax	11,000
Annual Homeowners Insurance	1,500
Annual Maintenance Expense	700
Annual Other Expenses (HOA Dues, etc.)	500

Find:

House Purchase Price
Down Payment
Amount to Finance (Mortgage)
% Down
Total Interest Over Life of the Loan (use amortization calculator)
Monthly Mortgage & PITI Expenses
	Monthly Principal
	Monthly Interest
	Total Monthly Payment
	Monthly PITI Payment
Annual Expenses
	Mortgage Payment
	Property Tax
	Home Owners Insurance
	Private Mortgage Insurance, if any
	Maintenance Expense
	Other Expenses, if any (i.e. HOA, etc.)
Total Annual House Expenses
Annual Tax and Other Considerations
	Less: Principal Repaid on Loan
	Less: Tax Savings on Interest
	Less: Property Tax Savings
	Less: Expected Appreciation in First Year
Total Annual Considerations
Net Expenses for Year