Buy, rent, or live in a tent?- Outline

Slides are tagged by opening line.

1. “So you want to buy a house” opens with a picture of a fixer-upper.
2. “And mortgage advertisements are everywhere!” shows a typical mortgage ad.
3. “Mortgage Rates Near 30-Year Lows! Shows more offers, inviting students to discuss whether they seem good.
4. “So, how do you go about buying a house?” A video demonstrates how not to buy a house.
5. “Here is the correct order” gives the order in which the module proceeds and also the order in which house buying should proceed.
6. “Go to the mortgage banker and see what they will lend you.” This describes what the lender will want to know.
7. “The mortgage loan officer decides if you qualify for a loan” describes expense ratios that determine whether you qualify for a loan.
8. “The mortgage loan officer will also require a minimum down payment.” Describes the down payment.
9. “Suppose you make $60,000 and have no debts” First house affordability estimate.
10. “Or you can use a table” Second affordability estimate.
11. “You can afford about $150,000” sets parameters for the house search.
12. “Go to the Multiple Listing Service” describes where to find home listings.
13. “Here is some language” An example of a real estate house listing.
14. “Real estate ads have a certain language” Deconstruction of listing.
15. “Here is some more real estate code” Wry but truthful humor.
16. “After you have studied the listings” What you want in a realtor.
17. “What is the real price of the house?” Hidden costs.
18. “The Antique Cape” First in a comparison of two houses.
19. “The 3 bedroom Ranch” Second in the comparison.
20. “The antique cape seems like a better deal” Opportunity to estimate repairs.
21. “The ranch, on the other hand, is fully functional.” Second house.
22. “You have decided to buy” A house is chosen and now a mortgage must be chosen.
23. “How big should your down payment be?” Various options to explore.
24. “Interest versus points” An explanation of points.
25. “The length of the loan” Typical options.
26. “You can use this spreadsheet or this online calculator” Invites students to compare options.
27. “Some banks offer” Explains adjustable rate mortgages, or ARMs.
28. “Buying a house requires input from a banker, a lawyer, and a real estate agent.” Another video example of a bad choice when buying a house.