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Buying a home is likely the largest purchase you will makeduring your life time. Unlike any other type of purchase, homebuying is typically an involved, long process that may take monthsto complete. A significant amount of research, learning, andnegotiation takes place during that process.As part of your overall financial planning for the future, youstart exploring the idea of home ownership. During this process youlearn more about home ownership options and sources of funding.Research your preferred neighborhood real estate market and explainthe difference between a coop, a condo, and a house. Also, detailthree different types of mortgages and explain which type of realestate and mortgage would be best for you. What are your 5- and10-year goals that will get you closer to achieving your goal ofhome ownership? Be specific and use actual numbers reflectingcurrent market state and your financial plan.themarket price for real estate in the throngs neck neighborhood is$500,000.