Learn How mortgages actually work

Get a clear, practical understanding of How mortgages actually work

What you'll cover

1. 1
   What is a Mortgage?

   Understand the basic definition of a mortgage and its purpose.
2. 2
   Key Mortgage Terms

   Define and recognize essential terms like principal, interest, term, and APR.
3. 3
   Types of Mortgages

   Differentiate between common mortgage types such as fixed-rate and adjustable-rate.
4. 4
   The Mortgage Payment Breakdown

   Learn how each monthly payment is allocated to principal and interest.
5. 5
   Amortization Schedules Explained

   Understand how payments reduce the loan balance over time.
6. 6
   Closing Costs and Fees

   Identify the various fees and costs associated with obtaining a mortgage.
7. 7
   Putting it all Together

   Synthesize your knowledge to explain the overall mortgage process.