Products in this Bundle (8)
Students will analyze the average cost of houses in 2023 across different states in the United States and examine the change in median home prices in the USA from 1980 to 2023. They will compare regional housing costs and historical price trends to understand the real estate market better and answer questions based on the data.
In this worksheet, students analyze a data table showing Fair Market Rent for various room sizes in different states and answer related questions. They will then prioritize factors influencing their choice of housing, such as amenities, safety, cost of living, and more.
Students will be given a profile with total savings, monthly salary, etc. and then they have to choose the down payment, points to purchase, and the loan duration to purchase a house.
Students will explore the importance of principal-only payments on a mortgage. Using a $300,000 mortgage scenario with an 8% interest rate and a 30-year duration, students will use a slider to adjust extra monthly principal payments and see the impact on total interest and loan duration. They will record data for different payment amounts and answer questions to understand how extra payments can save money and shorten the loan period.
In this worksheet, students will compare the financial implications of renting versus owning a house. Using a slider to adjust the duration of stay, they will analyze the total rent paid and the profit or loss from buying and selling a house at an appreciated value. This activity helps students understand the costs and benefits of renting and owning a house.
Students will analyze a sample amortization schedule for a mortgage loan, presented in both tabular and graphical formats. They will examine how mortgage payments are distributed between principal and interest over time and answer questions to understand loan repayment dynamics.
Students will explore the impact of adjusting interest rates and loan durations on the amortization of a mortgage loan. Using sliders to adjust these parameters, they will see real-time changes in a stacked bar chart that shows the distribution of payments between principal (blue) and interest (red).
Students will learn to calculate Equated Monthly Installment (EMI) for a loan using the given formula. They will apply the formula to various loan scenarios, record their calculations, and answer questions to understand how different loan variables impact the EMI.
Description
This comprehensive bundle of 8 home loan worksheets is designed to provide students with a thorough understanding of various aspects of home loans. Each worksheet covers a different topic related to home financing, engaging students through practical activities, data analysis, and real-world scenarios, such as principal-only payments, renting versus owning, amortization analysis, interest rate and loan duration impacts, EMI calculation, and more. By working through these worksheets, students will develop a solid foundation in financial literacy, particularly in the context of home loans.
Key Learning Outcomes:
- Comprehensive Home Loan Literacy: Students will gain a thorough understanding of various home loan-related topics, including principal-only payments, renting versus owning, amortization, interest rates, loan duration, and EMI calculations.
- Practical Application: Through practical activities and real-world scenarios, students will learn to apply financial concepts to everyday situations.
- Informed Decision-Making: This bundle equips students with the knowledge to make informed decisions about home financing options based on their financial goals and constraints.
This bundle is designed to enhance students' financial literacy, providing them with valuable insights and practical tools to navigate the complexities of home loans and make sound financial decisions.