Understanding Mortgages and Home Equity
Details
Taking out a mortgage for a house or property is the biggest financial commitment most people make in their lives. Because of this it is of vital importance that people understand the financial concepts behind mortgages and home equity. In this free online course you will learn about the concepts of assets, liabilities and equity in relation to obtaining a mortgage from a financial institution to purchase a house. You will also learn how to calculate the monthly interest repayments for a mortgage. This course will be of great interest to all learners who are considering purchasing a house or property and who would like to learn more about the financial concepts behind mortgages and home equity.
CERTIFICATIONTo qualify for your official ALISON Diploma, Certificate or PDF you must study and complete all modules and score 80% or more in each of the course assessments. A link to your Diploma certificate will then appear under the My Certificates heading of your My Account page.
LEARNING OUTCOMESHaving completed this course the learner will able to: - Describe the meaning of assets, liabilities and equity in relation to purchasing a house; - Calculate monthly interest rate repayments over the life-time of a fixed-rate mortgage; - Calculate monthly interest payments using a geometric formula
Outline
Module 1: Understanding Mortgages and Home Equity
Module 2: Mortgage and Home Equity Assessment
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