Standard #: SS.912.FL.5.13


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Explain that people often apply for a mortgage to purchase a home.


Examples


Example: Predict what might happen should a homeowner fail to make his or her mortgage payments.

Example: Given the specifications of a home and a salary for an individual, investigate the steps required to complete an application for a mortgage.



Clarifications


Clarification 1: Instruction includes understanding factors related to mortgage lending: down payment, fixed vs. variable rates, and insurance requirements.

Related Courses

Course Number1111 Course Title222
2102305: Economics and Personal Finance Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102371: Personal Finance and Money Management (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102373: Personal Finance and Money Management Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102375: Personal Finance and Money Management for Credit Recovery (Specifically in versions: 2024 and beyond (current))


Related Resources

Lesson Plan

Name Description
Shopping for a Home Mortgage Loan

In this Model Eliciting Activity, MEA, students will analyze data and client preferences to recommend the best mortgage loan. Students will compare different types of mortgage loans and justify their recommendation for the client.

Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. MEAs resemble engineering problems and encourage students to create solutions in the form of mathematical and scientific models. Students work in teams to apply their knowledge of science and mathematics to solve an open-ended problem while considering constraints and tradeoffs. Students integrate their ELA skills into MEAs as they are asked to clearly document their thought processes. MEAs follow a problem-based, student-centered approach to learning, where students are encouraged to grapple with the problem while the teacher acts as a facilitator. To learn more about MEAs visit: https://www.cpalms.org/cpalms/mea.aspx

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