Your instructor will give you information about the mortgage for the property. Add the information given by your instructor below.
Down Payment Required (List %):
10%
Number of Points at Closing
4 points
Mortgage Time Frame for Loan:
30 years
Interest Rate (List %) Assume point(s) have already been applied:
8%
Annual Insurance Amount:
$7000
Annual Property Taxes Amount:
$6000
Use websites like Zillow.com or Realtor.com to find a house/condo/townhome in your area that you would want to purchase. Provide a screenshot of the house, price, and description in your journal and link to the specific home in case further information needs to be extracted.
Your instructor will act as your bank lender and will provide you with the specifics of the mortgage that you will acquire: