21st Century Student FinLit -Getting Personal SW

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Reflecting on… Home is Where the Mortgage or Lease Is

LET’S PRACTICE

Name: _____________________________________________________________________________

Jenna and Brenna Go House-Hunting 1. Jenna is a dental assistant. On weekends, she works a second job as a barista at a local coffee house. She deposits all of her barista earnings including tips, into a CD. So far she has saved $15,000 toward a down payment on a home. She wants to stay in her neighborhood where home prices average about $150,000. About how much more money does she need to reach her down payment goal of 20% of a potential purchase price? _ ______________________________________________________________________________ 2. Jenna likes to doodle. Help her draw a basic picture of the following types of homes. Circle and label the features unique to that particular type of property.

single family home PRODUCT PREVIEW condominium

town home

cooperative

THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY 165

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