Abstract
Housing finance is an important topic for all individuals, families, and households as they move through life. For most, the cost of housing is one of the largest expenditures in the monthly budget. This paper presents a very brief view of housing finance with an emphasis on home buying. To keep this presentation to a reasonable length, only basic information is included. Seven elementary components of home buying are explained: pre-qualification for homeowner ship; the monthly housing payment; fixed and adjustable rate mortgages; insurance; equity; income tax deductions; and types of ownership. A brief explanation of the home-buying process is included. The paper concludes with learning activities, 75 glossary terms for review, and a list of several Web sites, videos, and books and pamphlets on housing finance.
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