Explain any background information and/or further description of loan types selected.

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Overview:
In this assignment, you will compare and contrast financing options. When financing a
home, it is important to understand your options. Each option comes with pros and
cons, some of them are short-term and some of them are long-term. The purpose of this
assignment is to demonstrate your ability to understand a variety of financing options
and develop amortization schedules and then use a series of subjective and objective
criteria to analyze the short-term and long-term pros and cons to justify a decision.
Instructions:
1. Choose a piece of real estate (residential, commercial, warehouse, land) using a
resource such as realtor.com, zillow.com, etc. Provide the listing sheet or link.
2. Determine a down payment percentage. A standard down payment is 20%. You
may choose another percentage.
a. Provide a justification for the down payment percentage you choose.
3. Research two different financing options. For example, 15-year. fixed, 30-year.
Fixed, 5-1 ARM, VA loan, etc.
a. Use Excel, or another approved spreadsheet, and create a complete
amortization schedule for the life of both financing options.
4. Compare and contrast the two financing options.
a. Explain any background information and/or further description of loan
types selected.
5. Identify the financing option you would choose.
a. Provide a justification for your financing option selection.
Requirements:
• Numbers 1, 2, 4, 5 should be in a Word document. Number 3 should be an
Excel, or another approved spreadsheet.
• Professional communication is expected, which includes proper spelling and
grammar, and providing source information when using outside resources

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Published
Categorized as Maths

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