Please write a one page 500-800 word essay on the following (please note this takes come research before you can complete the paper):
First, find a home on Redfin or Zillow you could afford if you made $100,000 annually, had 55,000 to put down. Use the following link to find how much you could afford for this exercise:
https://www.quickenloans.com/calculator-affordability
Mortgage rates may be at an all time low, but there’s still a big difference between a 3 percent and 4 percent rate. Take a look at the factors that determine your mortgage rate and calculate how much you’ll pay. Look up the current rate of a 15 year fixed rate and a 30 year fixed rate. Use the attached worksheet to determine the difference between payments as well as total interest. Which loan do you think is better for you? What is the difference between simple interest and the total interest you would pay on this mortgage?
https://www.wellsfargo.com/mortgage/rates/
