Response to Classmate: a. Pick a home chosen by one of your classmates that has not been chosen yet. b. Go to http://www.bankrate.com/calculators/mortgages/ mortgage-calculator.aspx and enter the mortgage amount for your classmate's home. Find the monthly payment for a 30 year mortgage. You may use the 'today's rate' and 'today's date' that are automatically filled-in. What is the payment? c. When is the payoff date? d. If your classmate can pay an extra $50 per month, when is the new payoff date? e. If it were you, what type of lifestyle adjustments could you make in order to pay an extra $50 per month? Think about the little things we spend money on that could add up quickly. Classmate: My chosen future profession is Systems Security & Analysis in Information Technology. I am from around the area so I plan to live where I currently am in Hope Mills, NC. The projected starting salary for security analysts in this area is $53,000 a year. 36% of my household projected yearly gross income would be $19,080, divided into months, would be $1,590 a month. My current mortgage is $860 a month with escrow and my home was initially $133,000 with no down payment with my VA loan. Even if I was to move to a new home I would like to stick to that amount given there are still utilities and possible upgrades or repairs I may like to do, or need to do, on the home. For this discussion, I chose a similar home in my area around the same price range. https://www.zillow.com/homedetails/5725-Walkabout-Rd-HopeMills-NC-28348/53636203_zpid/? utm_source=email&utm_medium=email&utm_campaign=emosendtofriend-hdp