Home Quiz Business Listening Speaking Reading Grammar Games  
English through video Level A Level B Level C ASK MISTERDUNCAN Beevn Video New Headway Effortless English Funny English Job Interview Video VOA VIDEO Grammar ABC Grammar Grammar In Use General English Beginner A Beginner B Elementary A Elementary B Low Intermediate A Low Intermediate B Intermediate A Intermediate B High Intermediate A High Intermediate B Low Advanced A Low Advanced B High Advanced A High Advanced B
Business English Introductory Business English A Introductory Business English B Marketing Manufacturing Finance The Customer Service Negotiations Business Travel Human Resources Information Technology
Speaking English Tiếng Anh Thông Dụng Tiếng Anh Thương Mại Tiếng Anh Phỏng Vấn Tiếng Anh Du Lịch Cụm Từ và Thành Ngữ Các Chủ đề Đặc biệt Mục lục Bài học Listening Lessons Trình độ Sơ Cấp Trình độ Trung Cấp Trình độ Nâng Cao Các Bài Học Thêm Phát Âm Ngữ Pháp Ngữ Điệu và Tốc độ 5 Luật để Nói Lưu Loát Games English Study Games Grammar Games Vocabulary Games Listening Games Pronunciation Games Quiz Games Memory Games Typing Games
Listening
Free ESL Special Topic English Lesson - How much can I afford  

How much can I afford

 Listen The first step in buying a home is determining the price range of the home you can afford. If you are buying a home that is $300,000, then you don't need $300,000 to buy the house. You can probably buy the house with no money in your bank account. This all depends on how much money you make. Let me briefly explain what I mean here. Banks will give you a loan to buy a house. You are required to pay a monthly payment until you pay off the loan. The loan term is usually 30 years. I'll get more into the mortgage details in the lesson on mortgages. For now, let's figure out how much you can afford.

 Listen Banks determine how much money they will let you borrow depending on how much money you make. The common loan amount can be calculated by dividing your monthly income by three. For example, if you make $5,000 a month, divide $5,000 by three. This will give you about $1667 buying power. The bank will think that you can safely pay $1667 a month towards your mortgage. So now we have to calculate how much money $1667 a month will buy you. To get this figure, you can find a mortgage calculator. But to speed up the process, the answer is roughly $210,000. That means the bank will give you a loan of $210,000. This figure will vary depending on your credit score (we will cover credit in a different lesson), how much down payment you have, and how much other debt you have. But let's keep this figure for now and move on.

 Listen If you have $40,000 saved up, then you can use that for down payment. That means you will put in $40,000, the bank will put in $210,000 and that means you can buy a $250,000 house without any problems. If you have $100,000, then you can buy a house that is $310,000. Finally, if you make more money a month, then the bank will allow you to borrow more money.

 Listen I gave you an example in the case you made $5,000 a month. If you make $10,000 a month, then any bank will allow you to borrow $500,000.

 Listen But moving forward, I will use the $5,000 a month figure for future examples. Now that we know how much house we can afford, let's determine what area we want to live in and the type of housing we want.
If you see this text and you are using FireFox, please download the FlashPlayer Plugin.


Lưu ý:
1.Bạn có thể dùng chuột để tô xanh cụm từ (2 từ gép trở lên) và bấm Ctrl-Shift-A để dịch cả câu sang tiếng Việt
2.Đối với từ đơn bạn chỉ cần Double click nháy chuột hai cái lên từ cần tra, sau đó nếu bạn muốn nghe thì bấm vào hình cái loa.

Home

Go back
© Copyright 2010 Tienganhabc.com - All Rights Reserved.