Category Archives: Exercise 1 simulation

Buying Into It: Relocation for Suburban Schooling

In my assigned profile, I earn $54,000 in gross annual income. I have $10,000 in savings and $400 in monthly debt. According to the CNN Money affordability calculator, I could afford to purchase a home between $190,560.68 and $208,855.60 with … Continue reading

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Home Buying Simulation: The Hardships

Buying a home at 20 years old is not easy. My annual gross income was $54,000; I did not have any debt and had $2,000 in savings. This may seem ideal, but I did not have a car, which made … Continue reading

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Housing Simulation

My assigned profile was: Yearly income: $30,000 Monthly payments: $200 (student loan) Family of four, including two children, one going into 3rd grade, the other 6th. With a mortgage rate of 4.25%, I calculated the loan I could receive with … Continue reading

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Home Buying Simulation

During this simulation, I was given an annual income of $30,000 which breaks down to $2,500 a month as income. For a downpayment, I had saved $5,000 dollars but had a debt of $100 a month to pay for a … Continue reading

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Home and School Buying Simulation

For this Home and School Buying Simulation I was given $30,000 in annual income, $2,000 for a down payment, no car, and no monthly debt. Through the use of an online mortgage calculator, I estimated that with my income I … Continue reading

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