Drop Down Options:

1) $180,000, $120,000, $150,000, $210,000

2) $240,000, $210,000, $150,000, $180,000

3) 665- 832, 832- 998, 1,164- 1,331, 636- 795

Price of home/ Interest rate 3.09 $150,000 $120,000 555 $180,000 332 35,700 $210,000 971 $240,000 1,109 693 23,800 29,700 47,500 4.09 609 760 912 41,600 1,064 45,600 1,217 26,100 52,100 32,600 832 39,100 998 5.0% 665 1,164 1,331 28,500 35,700 49,900 57,000 6.09 725 907 1,451 42,800 1,088 46,600 1,183 31,100 38,900 1,269 54,400 1,380 7.0% 62,200 1,577 789 986 33,800 42,300 50,700 59,200 67,600 and Given your financial situation and the table above, you should be able to qualify for a home that costs between ir purchased, your loan would require monthly payments of If you select a mortgage loan offer that requires a down payment of Jess than 20%, the lender will most likely require you to O Purchase private mortgage Insurance Find a cosigner for the loan O Make a balloon payment Purchase a home warranty policy The estimated monthly payments for a single-fymilly dwelling typically include the transaction's Oloan principal and interest, property taxes, and homeowner's Insurance (PITI) loan principal and interest only (PI) O loan principal and interest and property taxes (PIT) loan principal and Interest, property taxes, home insurance, and realtor fees (PITIR) 1. Apply What You've learned - Buying a Residence Scenario: You are a single 30-year-old with a gross annual income of $30,000. You have been renting an apartment, but you are tired of the rules set by your landlord. You would like a place that you are free to fix up the way you want it. You are considering both condominiums and single-dwelling homes and are looking at the pros and cons of owning each type of housing, you would like to begin the home-buying process soon as possible. You have $25,000 saved for a down payment, much of which was recently inherited from your late great aunt and your family is willing to give you an additional $15,000. You are currently repaying a school loan, a car loan, and some credit card debt Current interest rates with home lenders are averaging around 5.0 at this time