37111275
Description
Mind Map by Emily McIntosh, updated more than 1 year ago
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Created by Emily McIntosh
over 2 years ago
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Chapter 15 Reading, The Cost of
HomeOwnership
- Types of Loans
- Fixed Rate (30 yr
or 15 yr)
- Graduated payment mortgage (GPM)
- Adjustable rate mortgage (ARM)
- Home Equity Loan
- Interest-only mortgage
- bi-weekly mortgage
- Fixed Rate (30 yr
or 15 yr)
- Amortization
- Calculate by Table
- Formula:(Amount of Mortgage/1000) X Table rate
- Formula:(Amount of Mortgage/1000) X Table rate
- PITI (Principal, Interest,
Taxes, and Insurance)
- Monthly Payment Breakdown
- Calculate by Table
- "Extra Costs"
- Repairs &
Maintenance
- Closing
Costs
- Repairs &
Maintenance
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