1. Home Buying Case Study By Anthony Salazar

2. Apartment 2 bedroom 1 bath $199 deposit 9-12 month lease option $735.00 per month

3. PROS/CON PROS  Place to live  Nice area  Affordable CONS  Not owning  Neighbors live above, near and next door

4. Townhouse Sale price $101,000 (short sale) 20% down ($20,200) 30 year $872.50 20 year $965.57 15 year $1067.80 “You can save thousands over the course of loan by taking a 20 or 15 year loan” Total amount paid over 30 years $314,099.82 Total amount paid over 15 years $192,203.50

5. PROS/CONS PROS  Own  Short Sale  Nice area  Good schools  3 beds 2 baths CONS  Attached to neighbors

6. House Sale price $140,000 20% $28,000 30 year $1,064.60 20 year $1,193.64 15 year $1,335.31

7. PROS/CONS PROS  Own  New paint  RV parking  Good school  Basement CONS  Not so great area  Do your own repairs

8. Dream house Sale price $500,000 20% down $100,000 30 year $2,837.87 20 year $3,298.71 15 year $3,804.69

9. PROS/CONS PROS  Dream house  3 car garage  Finished basement  Basketball court  Great area CONS  House payment

10.  The Shimos should rent an apartment for a couple of years. While they are renting they should apply extra money towards their bills. After they pay off their bills, they should work towards saving for a down payment for a house. To me it doesn’t make sense to put money into a savings when they are paying a higher interest rate on their credit cards. Even though starting off they won’t have a savings they always can end up using a credit card if they need to. I think this will save them hundreds in interest. After renting, I would suggest The Shimos to look for a short sale house or a townhouse. The payments should work out for them.