Warm Up: What are two things you have learned so far in this class that you think will be helpful when you are in College?
Jeopardy as a study guide for the test on Tuesday
Feb 28th- SNOW DAY!
Marc 1st-No class
Warm Up: What is the best advice someone has given to you?
Warm Up: What is the coolest thing you think you will do by the time you are 25? A goal you expect to accomplish or a bucket list item completed.
Mortgage Worksheet- Info below is the same
How Much House Can You Afford? calculator
Pros/Cons and a current interest rate for the following types of mortgages:
Jumbo loan-What is it?
What are the loan options for putting less than 20% down?
Part B- Use the Bankrate.com “How much House can you Afford” calculator to help you answer the following questions. Use $800 each for homeowners insurance and real estate taxes. Every field must be filled in.
1) Your salary is $75,000 (take home) a year or $6,250 a month. You have saved $100,000 through diligent monthly savings. You are 30 years old and single. Your total monthly expenses are $3,275, which includes a car payment for $300 and monthly rent of $1,250. How much house can you afford? Which loan will you choose for them? What is the interest rate? How much will the monthly payment be?
2) Your salary is $46,000 (take home) a year or $3,833 a month. You have saved $22,000 though diligent savings. Your total monthly expenses are $2,000, which includes a credit card payment of $90 and monthly rent of $1,250. How much house can you afford? Which loan will you choose for them? What is the interest rate? How much will the monthly payment be?
Check out the daily work and warm ups if you miss class and please make up the work! I want you all to succeed. I will accept late work for two weeks after it is due. Check in with me if something comes up!