Module 3 : Loans and Mortgages
Introduction
This module presents a thorough overview of the topic, focusing on concrete day-to-day situations. Moreover, it will help to understand the implications of debt problems and try to guide readers to be autonomous and confident. The aims is to teach how to create a proficient dialogue with the bank, in order to find the best solution for your needs.
Expected Learning Outcomes
Knowledge
Upon completion of this module you should:
- Know the basic features of loans and mortgages
- Understand the difference between them and how to deal with them
Competences and Skills
Upon completion of this module you should:
- Be able to dialogue with the bank in a proficient way
- Be able to correctly calculate mortgage payments
Introduction
1
Introduction
2
Expected learning outcomes
Topic 1: Fundamentals: the difference between loans and mortgages characteristics of the products possibility to renegotiate the contract with the bank
1
Introduction
2
1.1 What is a loan and its structure?
3
1.2 Different type of loans and how they work
4
1.3 Loan terminology
5
1.4 Steps on obtaining a Loan
Topic 2: From theory to practice: the payments structure
1
2.1 Understanding of the loan amortization schedule
2
2.2 Example of a loan payment schedule
Topic 3: How to correctly calculate Loan/mortgage payments
1
3.1 Payment components, the P.I.T.I. components
2
3.2 How is the interest rate of a loan calculated?
3
3.3 Exercise in calculating loan payments
Self-assessment Activity
1
Final Quiz
Resources References and Materials
1
Additional Material
2
References
3
Module’s Infographic
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