PERSONAL FINANCE WEEK 4.docx

B 8486 141333 x 1000 14133333 is the amount of their

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b) $ 848/6 = 141.333 x 1,000 = $141,333.33 is the amount of their affordable mortgage loan amount. c) The amount they could afford to pay is 157,037.04 2. The tax advantages for the Lawrences owning a home rather than renting is the ability to deduct the mortgage interest on their federal tax return. They could also deduct some closing fees and their property taxes ( Quicken, 2017). 3. Shelby and Mark could use the renting versus buying sheets to help them come up with ways they both could benefit them and hurt them. Since buying a home is a major life changing decision to some of us, the sheets come handy for quick notes that help you get easy detail of what to expect. B. The housing Affordability and mortgage qualification worksheets helps you collect what you could afford and pay when attempting to look for a home. This helps you stay within you window so that no one is wasting time looking at real estate that is outside of the affordability zone. First Budget Then Invest for Success Pg. 476 1. The Garners had a habit of blowing money on all sorts of wanted needs not just things that need in general. $700 a month on entertainment is silly and wasteful. Plus they have $350 that is being
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