Lesson 3: Installment Credit
Handout 7

Financing a House Overhead

Mortgage Example   
   
 
30 Years
30 Years
30 Years
30 Years
Price of House
 
 
 
 
 
Interest Rate
6%
9%
12%
15%
Payment per $1,000
 
 
 
 
Total Payment
 
 
 
 
 
Total Cost of House
 
 
 
 

How much would you have to make each month to afford this house? (30%)