Brent the Construction Foreman

Buying a New Car and House!

I get paid $50,000 a year. With my budget I can afford $433115.56 on a new house and car.

For my house I found a $185000 two bedroom home in Overland Park KS. Each month I will pay $905.35 with an interest rate of 3.875%; and $104926 in interest. Over the course of my loan I will pay $325926. If I raise my monthly pay by fifteen percent that would save me $1041.15 and would take me roughly 22 years to pay off.
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New Car

I am buying a new 2016 Ford Focus. It's $31,040 with a rate at 3.20%. I will pay $134.24 each month and over the course of my loan will pay $48326.4. In interest I will pay $17286.4. By increasing my monthly payment on my car by 15% I will save $154.38 and pay it off in about 24 years. The total difference in the payments is $44535.54.

Work Cited

Here is my citations for all of my sources on rates, budget, and where I found my new car and home.

Budget:

(n.d.). Personal Finance Whiz | Spend Smarter. Beat Debt. Grow Wealthy. . Sample Average Monthly Budget For a Single Person Or College Student . Retrieved from http://www.personalfinancewhiz.com/sample-average-monthly-budget-for-a-single-person-or-college-student/


Rate for Home:

(n.d.). Bankrate.com - Compare mortgage, refinance, insurance, CD rates. Mortgage Rates in Kansas City, Kansas by Bankrate. Retrieved from http://www.bankrate.com/funnel/mortgages/mortgage-results.aspx?market=238&loan=165000&perc=20&points=Zero&fico=740&prods=216&cs=0



Rate for Car:

Auto. (n.d.). Retrieved December 10, 2015, from http://www.bankrate.com/auto.aspx


Where I found the Home:

Open House: Sat 12/12 12:00 PM-04:00 PM. (n.d.). Retrieved December 10, 2015, from http://www.reecenichols.com/homes-for-sale/13101-W-170TH-Street-Overland-Park-KS-66221-130955531


Where I Found the Car:

(n.d.). Retrieved December 10, 2015, from http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=66223&endYear=2016&modelCode1=FOCUS&showcaseOwnerId=68345&startYear=1981&makeCode1=FORD&firstRecord=0&searchRadius=25&showcaseListingId=408609148&mmt=[FORD[FOCUS[]][]]&listin