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
2010
Resource Categories
Information
Resource Type
Audio/Video, Lesson plan (single topic), Online Video Game, Online Video Streaming
Grade Level
8th grade, 9th grade, 10th grade, 11th grade, 12th grade, College & young adult
Target Users
Parent, home school, Student, self-directed study, Teacher, classroom or after school
Jump$tart Standards
None

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