Moneytopia: What Makes Up a Mortgage?
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WHAT MAKES UP A MORTGAGE is an online tutorial that explains the components of a mortgage payment. Many people think a mortgage payment consists of only two parts: principal and interest. However, there are two more parts: taxes and insurance. Lenders use PITI—principal, interest, taxes, and insurance—together with the borrower’s income to evaluate the borrower’s capability to repay the loan. This tutorial includes a worksheet to help you calculate how much house you can really afford.

Provider
FINRA Investor Education Foundation
Author
FINRA Investor Education Foundation
Price
Free
Published / Released Year
2010
Resource Categories
Information
Resource Type
Audio/Video, Game/Toy, Lesson/Lesson Plan (one lesson)
Target Users
Parent, home school, Student, self-directed study, Teacher, classroom or after school
Grade Level
8th grade, 9th grade, 10th grade, 11th grade, 12th grade, College & young adult
Languages
English
Special Needs
Hearing impaired
Order Phone Number
202-728-6964
Jump$tart Standards
None

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