In this chapter, we learned how mortgages are used to help people purchase a home. Please research at least two of the following topics and report your findings: How do you ‘qualify’

In this chapter, we learned how mortgages are used to help people purchase a home.

Please research at least two of the following topics and report your findings:

• How do you "qualify" for a home mortgage, that is, what conditions must be met for a bank to approve your home loan?
• What expenses do you need to budget for in addition to the mortgage payment itself?
• What are the pros and cons of home buying vs. renting?

Directions

Participation in Discussion Boards is a required part of this class (5% of your overall course average).

The requirements for this graded Discussion Board are:

• Your initial post is due by the 3rd day of the Discussion Board and must contain at least 100 words.
• You must respond to at least two classmates, and your response posts must contain at least 50 words.
• Please answer any questions posed in the instructor's response to your post(s).
• All posts should be relevant to the week's topic(s) and should include substantive, correct math content.
• All posts should be grammatically correct – please use Spellcheck as necessary.
• Please use APA citation format if you get help from another source (our textbook, another book, a website, etc.). Try to use your own words!