1. Personal Finance Today’s Agenda:
Researching and Apartment Formative due Today
Notes:
Buying your first home
Quick Review
Open Note Quiz
Exit card

2. What type of expense are housing payments considered?
fixed

3. If you have 18k saved, you want to place 20% down, what is the most expensive house you can purchase?
$90K= 18k/20%

4. Home Buying Activities Types of Mortgages
rate-mortgages-arms
How does an adjustable rate mortgage work?
Does this video, produced by Quicken Loans, depict ARMs in a positive or negative light?
Why do you think the video takes this positive or negative stance?

5. Home Buying Activities Types of Mortgages
ownership/fixed-vs-adjustable-rate-mortgages
Carl, who is living in Boston until his girlfriend finishes her med school program there:
Tanya, who’s worked out a budget that allows her to pay her mortgage and save for her 3 young children’s college funds:
Kristie, who needs lower payments for a few years, until she’s done paying off her student loans, and who could then afford far greater payments:

6. Owning Rental Property
Most people who own rental property do so for additional income instead of a full time job.
It does require commitment to your tenants and property
Possibly managing employees

7. What part or state has the lowest rates. Highest Rates
What part or state has the lowest rates? Highest Rates? What about home prices?
Bankrate is a good start. Lets see if we can answer this question.

8. Reverse Mortgage
A reverse mortgage is a type of home equity loan for older homeowners. It does not require monthly mortgage payments. The loan is repaid after the borrower moves out or dies. It is also known as a home equity conversion mortgage, or HECM.
Reverse mortgages are often considered a last-resort source of income, but they have become a great planning tool for cash- strapped homeowners.