Objective

The purpose of this assignment is to familiarize students with the process of budgeting for the purchase and

financing of a home, or another significant financed purchase, as well as building awareness of key factors not

to be overlooked throughout this process.

Overview

This assignment is comprised of four parts:

$1.$ Selecting a Property Goal: Students must select, and secure a copy of$,$ a current property listing which

is representative of a real estate investment goal they may wish to pursue.

$2.$ Budgeting for your Goal: Students must perform several calculations to determine the total transaction

costs, including both the down payment and closing costs, that will be required in order to purchase the

home they have selected. Variations on these calculations will explore the effects of making financial

planning adjustments. $($Please use all three tables for part $2)$

$3.$ Evaluating Financing Options: Students must examine the advertised mortgage options available

through various financial institutions, considering several financing contract factors, in order to finance

the remaining cost of the home. Various financing options will help expose the impacts of different

mortgage factors

$4.$ Paying Off the Mortgage: Finally, applying data collected, previous decisions made and incorporating

some additional considerations, students must calculate the corresponding monthly mortgage payments

by using an online mortgage calculator. Variations on these calculations will explore the effects of

making financial planning adjustments