Understanding Mortgages and Home Equity - Revised
CertificationView course modules
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 course you will learn about the concepts of assets, liabilities and equity in relation to obtaining a mortgage form 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.Start Course Now
Having completed this course the learner will be 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.
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