SEMESTER REPORT *WRITE a 3-5 Page Report : Use a fictitious buyer, Mr and Mrs Sm

SEMESTER REPORT *WRITE a 3-5 Page Report : Use a fictitious buyer, Mr and Mrs Smith who make a combined salary of $120,000 per year. They have 1 car payment of $400 per month and a credit card of $150 per month. They have $40,000 in their savings account. They want to buy a home: How much of a purchase price can they qualify for? What kind of loan is best for them? FHA, Conventional, VA, Adjustable?? Use the ratios for the front and back end to qualify them for a loan. Check BankRate.com for current interest rates. Show your work on how you arrived at this qualification. What will their monthly PITI payments be. What will their closing costs and down payment be. I want to see a trail of action that you take to figure out how this couple can afford to buy a home and how they are going to pay for it. *DO NOT hand in a computer print out from an online program. You need to know how to figure this out and show me your work on how you did it. WEBINARS: 4 Webinars from DRE – 3 credits for each one – requires at least a 2 paragraph summary of each webinar. Watch each of them for credit. These webinars are separate from the Trailer which is the first video on the website; Click on the Tab for Webinars to Find each one: Budgeting, Borrowing, Buying and Beyond. (keep in mind some things may be outdated since this was published in 2009, but the basics and premise are the same) (Below is link with some videos that are required to watch ) http://www.3cmediasolutions.org/f/4d9930167ab67783af82089e9a92b3c f5b96d5fa Attached are some the weekly PowerPoint presentations. I will submit more once the winning bid has been approved.