FP 101

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  1. Assess your automobile needs and determine what you can afford.
  2. Decide among automobile financing alternatives.
    Lease or own?
  3. What you think of as debt to income ratio, the book calls...
    • debt payment ratio
    • 33% is as high as lenders want to see
  4. Evaluate your housing needs and determine what you can afford.
  5. Select a home that meets your needs and negotiate an acceptable price for it.
  6. Choose among financing options and know how to apply for and qualify for a mortgage.
  7. The auto and housing decision process.
  8. Auto insurance and auto financing options.
  9. Home mortgages and real estate transactions.
  10. Two types of consumer loans.
    • Fixed
    • Variable
  11. What is a prime rate?
    A prime rate is typically what rate a bank charges their preferred customers and used as the base rate for variable loans.
  12. Examples of fixed loans and variable loans.
    • Auto loans are usually fixed.
    • Home equity and credit cards can be fixed or variable.
Card Set:
FP 101
2012-04-21 03:02:00

Making Automobile and Housing Decisions
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