Want to drum up interest on the impact of credit scores on financing a home? Check out this interactive tool!

The Consumer Financial Protection Bureau (CFPB) offers a great tool that allows users to view mortgage rates from state to state, as well as how things like credit score, house price, down payment, and other factors impact repayment terms. For students who likely haven't yet ventured into the world of shopping around for a home, let alone financing for one, this can be an eye opening tool!

Questions:

• Have you thought about if and when you'll want to buy a home? Why or why not?
• What are some things that you might want to save for or accomplish financially before you feel like you'll be ready to take action on buying a home?
• What are some pros and cons you can think of when it comes to owning vs. renting?
• Describe your idea of what your future might look like in terms of renting vs. owning, living with roomates, by yourself, or with a family, or other details that might impact where and how you choose live.

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Looking for more interactive resources? Be sure to check out the NGPF Interactive Library. 

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.