You get to pick the career of your choice. Anything you can dream that you can be.
1 Find the annual salary for that particular job.
2 What is the amount of a bi-weekly paycheck?
3 What deductions are being made?
4 What are the deductions for?
Now you can buy a house. Find a house for sale in the $300,000—$550,000 range.
5 Get a picture of the house and list the features.
6 Calculate the down payment of 20%
7 Determine the interest rate on a 30 year fixed mortgage and the monthly payment.
Don’t forget that your monthly payment should include property taxes and insurance. If you can’t find the taxes assume they are 1.75% of the selling price and we’ll use $1500 a year for insurance.
8 Now, can you really afford this house, if your mortgage should be approximately 25% of your monthly income?
9 If your housing expenses are more than 25%, what can you do to afford this house?