Make your own free website on

The Coey Communicator

Check-List for Finance Prjct. Part B



Find a house to buy in your future:,  or check a real estate newspaper (house under $600,000)


Copy and paste ad and information into word document –Part B


Calculate Sales Tax on house

1st $100,000 x .01 = $1,000

Remainder x .02


Calculate 15% down payment

House cost x .15


Calculate Mortgage Amount Needed

House cost minus down payment


Look up Mortgage companies to find the best mortgage rate:  


Copy and  paste into word-Part B


Look up a mortgage calculator to find monthly payments for a mortgage amortized over 25 years: 



Determine the total initial cost (down payment + purchase tax + 1st monthly payment (from mortgage calculator))


Include all calculations in your word document for part B


Determine some extra mandatory costs for purchasing a house:

-          house inspection fee

-          mortgage application fee

-          legal fees 



Find out what property taxes are where your house is located: