In this assignment, revise your personal financial plan, reflecting your learning to date in the course. In this milestone, you will complete one or both of the following spreadsheets: Worksheet 11: Worksheet for Calculating the Maximum Monthly Mortgage Loan for Which You Qualify and Worksheet 9: Worksheet for the Lease Versus Purchase Decision, and write a 1-2 page paper.
Now that you expanded your knowledge regarding long-term financing for a home or vehicle purchase as well as any regulatory or recommended insurance requirements, consider the purchase of a new home, vehicle, or both. You may even contemplate the future purchase of a vacation home, or a recreational vehicle. How would these changes affect your financial plan?
Note: If you do not wish to disclose personal financial information to your instructor, please note to change your information or provide an alternative name with the information realistically portrayed. In doing so, the experience of preparing a financial plan for another individual will prepare you to accurately complete your own plan when you are ready. Also, do not disclose the information of an individual other than yourself; remember to keep private information private.