Buy a House Instructions Your book defines PITI as: Principal, Interest, Taxes, Insurance Calculate the PITI of your future home! Step 1- Visit a website like https://www.zillow.com/, https://www.onek

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.zillow.com/, 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

https://www.insurance.com/home-and-renters-insurance/home-insurance-basics/average-homeowners-insurance-rates-by-state. 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

https://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx. 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