Now let's buy a house. Find a listing for a house that you might be interested in purchasing. You can use a local (Fresno area) realtor or a listing from the area/town you are originally from. Attach a copy of the listing as part of the project. The house is limited to a listing price of $600,000 or less. Use the information to complete the following 1. what i the lited prie of the house? 265,000 2. Mortgage lenders will want at least 20% of the price as a down payment What is your down payment? 53 0oo 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( ie. Bankrate.com, lendingtree.com. Length of loan: Rate for loan: Monthly payment for loan your work for the calculation. years Use the formula from class to determine. Show Amount of Interest you will pay on the loan over the life of the loan: If you housing costs should be appro imately 25% of your monthly income, how much will your monthly income need to be to afford the house described: Create Amortization Schedule for the loan and attach one page of it with the project