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Creating a Financial Plan
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Selecting and Financing Housing

Housing represents a major budget expenditure. This area of financial planning requires careful analysis of needs along with a comparison of the costs and benefits of housing alternatives.

Your Short-Term Financial Planning ActivitiesResources
1. Compare your current housing situation with your housing needs and financial situationPFP Sheet 40
http://homebuying.about.com
http://houseandhome.msn.com
www.mymoney.gov
www.hud.gov
2. Conduct an analysis to compare renting and buying of housingPFP Sheet 41
www.homefair.com
www.newbuyer.com
3. Compare various rental alternatives as neededPFP Sheet 42
http://apartments.about.com
4. Determine your housing and mortgage affordability, and compare various sources of mortgagesPFP Sheet 43, 44
www.centura.com/tools
http://loan.yahoo.com/m/
http://nt.mortgage101.com
www.bankrate.com
www.hsh.com
Your Long-Term Financial Planning Activities
1. Monitor changing interest rates and assess refinancing alternativesPFP Sheet 45
www.interest.com
www.mortgage-net.com
2. Develop a plan for assessing housing needs and costs in the future.Text pages 272–275
www.realestatejournal.com
www.hud.gov/buying/rvrsmort.cfm







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