compare and contrast financing options. When financing a home, it is important to understand your options. Each option comes with pros and cons, some of them are short-term and some of them are long-term. The purpose of this assignment is to demonstrate your ability to understand a variety of financing options and develop amortization schedules and then use a series of subjective and objective criteria to analyze the short-term and long-term pros and cons to justify a decision. Choose a piece of real estate (residential, commercial, warehouse, land) using a resource such as realtor.com, zillow.com, etc. Provide the listing sheet or link. – Here is the link to the property I am using for this and other projects – 150 Hillside Ave, Milford, CT (realtor.com) https://www.realtor.com/realestateandhomes-detail/150-Hillside-Ave_Milford_CT_06460_M30473-29954?view=qv Determine a down payment percentage. A standard down payment is 20%. You may choose another percentage. a. Provide a justification for the down payment percentage you choose Research two different financing options. For example, 15-year. fixed, 30-year. Fixed, 5-1 ARM, VA loan, etc. a. Use Excel, or another approved spreadsheet, and create a complete amortization schedule for the life of both financing options Compare and contrast the two financing options. a. Explain any background information and/or further description of loan types selected Identify the financing option you would choose. a. Provide a justification for your financing option selection. Numbers 1, 2, 4, 5 should be in a Word document. Number 3 should be an Excel, or another approved spreadsheet. Professional communication is expected, which includes proper spelling and grammar, and providing source information when using outside resources.
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