Escolar Documentos
Profissional Documentos
Cultura Documentos
Victor Nevin
CMU
Location: Michigan
Housing Location: On Campus*
Off Campus
Housing Type: Dorms
# of Bedrooms:
Individual Bedrooms
Bedroom*
# of Roommates: 1-2
Shared
Bath Attached:
Yes
No*(Community/Shared)
Living Space:
Yes*
No
Washer/Dryer:
Yes
No*
Fireplace:
Yes
No
Parking:
Yes
No
Size: Parking Space
Other:
Sports stadiums
Parking Cost: $
150
Meal Plan Included:
Yes
No
Meal Plan Cost:
$3.390
Included: unlimited food while open
Gym:
Yes
No
Internet:
Yes
No
Cable:
Yes
No
Computer Lab:
Yes
No
Additional Amenities: School Store,
laundry rooms
Reasons you chose this
College Housing: I plan on going here
and it just seems like a nice place.
Chippewa
# of Bedrooms:
Style: Apartment
# of Baths: 1
Heated by: Gas
Square Footage: 900
Electric
Washer/Dryer:
No
Fireplace:
Yes
Parking:
Yes
Size: Covered Parking
Yes
Parking Cost: $
Included Utilities:
Which:
No
No
Parking Space
Garage
Other:
included in rent
Yes
No
Additional Amenities:
$
895
21.00
$
916
You will have to go to the following website in order to determine how much you are
able to spend on your house. You can select a house that is less than the maximum
value, but you may not select a home that is over the maximum value given to you
by the calculator.
www.interest.com/content/calculators/afford-borrow.asp
269,240
You will use the following websites in order to research housing listings. The best
website is listed.
www.remax.com
www.zillow.com
Market value of the house you have chosen: $119, 9
Properties of the house you have
chosen: Fill in the information below
Address: 27932, shock street st chair
shores 48081
School District: lake view
IMAG
# Of Bedrooms: 3
Style: bungalow
#of Baths: 1
Type of siding: vinyl
Type of roof: shingles
Heated by: Gas
Electric
Square footage: 1,002
Lot size: 1,002
Garage:
Yes
No
If Yes, Size:
1 Car
2 Cars
3 Cars
Other:
429
Now that we know what the total cost of our house is, we are going to determine
what our monthly payments will be based on different interest rates, down
payments, and terms. Use the following website to determine the mortgage
monthly payment.
http://www.interest.com/content/calculators/new/armvsFixed.asp
Monthly Payments with a 5% down payment:
577.14
Market Value:
Mortgage Amount:113,905
1,887 Interest (1st Yr): 5,870
Monthly
Payment
s
4.0%
4.5%
5.0%
5.5%
119.900
15 years
20 years
25 years
30 years
573.76
574.78
578.43
581.23
567.98
569.43
570.55
572.98
553.67
554.56
555.78
557.89
543.80
543.91
545.83
546.24
17,876
Market Value:
113,905
Mortgage Amount101,913
Interest
15 years
20 years
25 years
30 years
756.89
783.65
805.98
832.73
746.54
778.78
798.67
823.89
750.32
769.45
779.67
817.78
743.27
765.78
768.32
813.56
Now that you have looked at some different monthly payments available, select an
option USING ONLY THE 5.5% interest rate, as this is the closest to the current
mortgage rate right now.
Down Payment:
23,980
Length of Mortgage:
20
30
Years
Principle:
$5,243.35
$1, 292, 09
Cost
Your Cost
Credit Report
$65.00
$65.00
Loan Organization
2% of mortgage
2,398
Abstract of Title
$120.00
$120.00
Attorney Fee
$250.00
$250.00
Documentation
Stamp
Processing Fee
.3% of Mortgage
359.70
1.10% of Mortgage
1199
5298
$
45.79
113.905
5,490
https://treas-secure.state.mi.us/ptestimator/ptestimator.asp
100