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The Home Decision

Title: The Home Decision

Description: This is an intermediate course on buying a home. It gives recommendations on the things that you should do and the process of buying a home. It discusses the various costs of buying a home, including points, fees, and the actual mortgage loan. It gives recommendations that should be considered in the home buying process.

Difficulty Level: Intermediate. This course is recommended for individuals with a basic understanding of the housing industry.

Time to Complete To complete this course, I estimate it will take about forty minutes to an hour.

Output: None. However, included are various spreadsheets that help you determine which loans are the most cost effective (in terms of the Effective Interest Rate) after taking into account your fees, points, and other costs (Learning Tool 19: Home Loan Comparison with Prepayment (and Refinancing)); a recommended range of home prices you should be looking at if you are LDS, which takes into account traditional front and back-end ratios and the fact that you pay tithing (10%) and savings (10-20%), (Learning Tool 11: Maximum Monthly Mortgage Payments for LDS); and debt elimination programs to help you pay off your home mortgage as quickly as you can (Learning Tool 9: Debt Amortization and Prepayment, and Learning Tool 20: Debt Elimination Spreadsheet with Accelerator).

Prerequisites for this Course I recommend you first read the lessons on Another Perspective on Wealth, Time Value of Money 1, Time Value of Money 2, and Consumer and Mortgage Loans.



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