- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
The Home Decision
Title: The Home Decision
Description: This is an intermediate course on buying a home. It gives recommendations on the things that you should do and the process of buying a home. It discusses the various costs of buying a home, including points, fees, and the actual mortgage loan. It gives recommendations that should be considered in the home buying process.
Difficulty Level: Intermediate. This course is recommended for individuals with a basic understanding of the housing industry.
Time to Complete To complete this course, I estimate it will take about forty minutes to an hour.
Output: None. However, included are various spreadsheets that help you determine which loans are the most cost effective (in terms of the Effective Interest Rate) after taking into account your fees, points, and other costs (Learning Tool 19: Home Loan Comparison with Prepayment (and Refinancing)); a recommended range of home prices you should be looking at if you are LDS, which takes into account traditional front and back-end ratios and the fact that you pay tithing (10%) and savings (10-20%), (Learning Tool 11: Maximum Monthly Mortgage Payments for LDS); and debt elimination programs to help you pay off your home mortgage as quickly as you can (Learning Tool 9: Debt Amortization and Prepayment, and Learning Tool 20: Debt Elimination Spreadsheet with Accelerator).
Prerequisites for this Course I recommend you first read the lessons on Another Perspective on Wealth, Time Value of Money 1, Time Value of Money 2, and Consumer and Mortgage Loans.