Now you get to start living large...
The first thing everyone needs is somewhere to live, and now that you're "rolling in the dough" thanks to your degree and spiffy new job, you can finally afford a place of your own!
Use the site below to find a house for sale that you think would fit your lifestyle and record the info and cost of your new abode in Section Three of your task sheet.
http://www.realtor.com/
Problem is, houses cost money, and while you may be making a nice paycheck now, it won't be enough to afford a house outright. That means you're going to have to apply for a mortgage! Luckily there are several banks waiting to give you a quote on your mortgage.
EECU wants to give you a rate of 3.79% on your mortgage, if you take the loan out for 30 years.
Bank of America will give you rate of 3.25%, if you take the mortgage out for only 20 years.
Use the site below to calculate your monthly payment. Then calculate how much you would end up paying over the life of each loan. Which loan will you end up going with and why?
Mortgage Calculator
Use the site below to find a house for sale that you think would fit your lifestyle and record the info and cost of your new abode in Section Three of your task sheet.
http://www.realtor.com/
Problem is, houses cost money, and while you may be making a nice paycheck now, it won't be enough to afford a house outright. That means you're going to have to apply for a mortgage! Luckily there are several banks waiting to give you a quote on your mortgage.
EECU wants to give you a rate of 3.79% on your mortgage, if you take the loan out for 30 years.
Bank of America will give you rate of 3.25%, if you take the mortgage out for only 20 years.
Use the site below to calculate your monthly payment. Then calculate how much you would end up paying over the life of each loan. Which loan will you end up going with and why?
Mortgage Calculator