Buy a HouseInstructions
Your book defines PITI as: Principal, Interest, Taxes, Insurance
Calculate the PITI of your future home!
Step 1- Visit a website like https://www.onekeymls.com/
Step 2- Select a house you would like to buy within 10 years.
You can select anywhere in the U.S
Step 3- On the listing, search for the yearly taxes. Divide by 12 to calculate the monthly taxes
Step 4- Estimate your home owner’s insurance using an online calculator like this one
Calculate the monthly cost of home owner’s insurance
Step 5- Use a Mortgage Calculator to estimate your monthly payment. Here is one you might to try
Assume 20% down a 30 year fixed mortgage term and a credit score of 720.
Note: if it’s a condo or co-op, add in the HOA Home Owner’s Association Fees also known as common charges
Note: if it’s a condo or co-op, add in the HOA Home Owner’s Association Fees also known as common charges
Your assignment:
Upload your findings on a Word Document including the link to your dream home
Be prepared to share with the class