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 * Loan Amortization - Mortgage**

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INTRODUCTION
For most consumers, buying a home is one of life's biggest decisions. Shopping for the most home at the most favorable rates is challenging even for the savvy shopper. This lesson, gives the student a taste of how changes in the interest rate can affect the monthly payment made on a mortgage. Students will see how the change in the interest rate and the length of the loan affects the total amount that is repaid.

RESOURCES
1. Key Vocabulary: APR - The annual percentage rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. Read more: www.investopedia.com/terms/a/apr.asp#ixzz1YLQ140an

2. Microsoft has a Mortgage Amortization Template. This link is in the lesson. You will have to download this and unzip. This is listed to document the source of the spreadsheet. 3. For those without access to Excel, this online mortgage calculator can be used instead.

[|www.bloomberg.com/personal-finance/calculators/mortgage/] 4. Investopedia definitions.

Amortization

Amortization Schedule

Annual Percentage Rate 5. Mortgage Loan Primer. Use the following information to cover the basics of a home mortgage loan.

[|fidelity.title.com/smMortgagePrimer.aspx] 6. Truth in Lending Act, Regulation Z. This site provide an overview of The Truth in Lending Act and Regulation Z.

[|www.loanbiz.com/regz.htm]