Essays on Down Payment

Chapter III

This chapter will review the background of Real Property Law in the Kingdom of Saudi Arabia. In order to lay the foundation for comparisons in subsequent chapters, the elements of the Saudi judicial system and real property law will be reviewed. The background information pertaining to Saudi Arabia will feature the judicial court system, the property rights and real property ownership. A review of the current mortgage law in Saudi Arabia will be analyzed as well as possible reform to include the application of anti-deficiency laws.

Introduction

Saudi Arabia is governed by a monarchy. Its current legal system under the ...

1. Personal Annual Income

The personal annual income is $19,200.

2. Monthly Payment a) The monthly amount is found by dividing the annual income by 12: $19,200 / 12 = $1,600. b) The monthly payment is maximum 33% of the monthly income, which is: $1,600 ∙ 33% = $1,600 ∙ 0.33 = $528.00. c) Maximum required payment (monthly payment minus fees): $528.00 / 1.15 = $459.13.

This is the maximum amount that a person can afford to pay each month for a home loan.

3. Loan Amount Using the Excel table, the maximum amount for home loan was found for monthly payment $459.13 at 4.18% APR for 30 years. This amount is $94,113.00. Thus, a person can afford a house for about $94, ...

Introduction

In 2008, the entire world was rocked by the biggest financial crisis since the Great Depression. The crisis first affected the entire financial system of the United States before then quickly spread globally. The casualties of the crisis included the whole investment banking industry of the US. Other casualties were the US largest insurance company, largest mortgage lender, among other firms in the financial services sector. The US auto industry was severely hit leading to loss of jobs. The US unemployment rate increased by 4.9% points from the third quarter of 2007 to the third quarter of 2009. The ...

All people are basically the same, but there are differentiated by age, race and economic classes. Out of these categories, racial discrimination happens to be the major type of discrimination in America. Black people such as Black Americans, African Americans are discriminated against just because they do not have the color that other Americans have. Similarly, this kind of discrimination has been portrayed in the video about ‘True Colors’, and different discriminations have dominated (True Colors - Racial Discrimination in Everyday Life ½, n.d.). In the movie, a black man Glenn and a white man John are sent to perform ...

Part A:

The following is a self-financial plan for a Canadian single man of 24 years. I received in 2015 a degree in a Canadian college and started to work in a tech company. I need a financial plan from the current date 2016 until my death. The estimated death age is 82 years old according to Canadian Census . The development of each step of the timeline and goals requires my knowledge, experience and money. Canada is the external environment to consider, a country with an economy tied to the United States of America, the minerals and oil exploitations and the ...

Renting an Apartment Is a Better Option than Buying a Home

I. Introduction.

There is a common thought that buying real estate is better than renting a house. Is that a fair assertion or is this an opinion being cultivated in human minds in order to help real estate and insurance agencies blossoming? Is renting a waste of renter’s money? Is ownership an excellent idea of building wealth? Let’s consider the statement taking into account a few expense items connected with renting and buying in order to compare these two alternatives.

II. Buying a Home: How Much?

A. How to Buy?

First of all, to buy an apartment or a house one should have some savings in the bank or ...