Module MCM.1.4: Mortgages

Standard: EPF.MCM.1.4

Objective: Explain the process and costs of obtaining a mortgage.

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Lesson Overview

• Define mortgage and related terms
• Discuss steps in buying a home
• Analyze costs (interest, down payment, insurance)

Teacher Notes

• Use mortgage calculators
• Relate to local housing market
• Discuss credit and loan approval

Activities

• Mortgage calculation activity
• Guest speaker: Loan officer
• Create a home-buying checklist

Assessment

• Completed mortgage worksheet
• Quiz on mortgage concepts

Resources

• NC DPI EPF Standards
• Mortgage calculators and guides