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Mortgages (Reporting)

The document provides information about mortgages including key terms like down payment, mortgage loan amount, interest rates, and amortization tables. It explains how to calculate a down payment percentage and the remaining mortgage loan amount. It also describes how to compute monthly interest rates and payments over the lifetime of a mortgage using formulas.

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Nikki Palicpic
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9 views21 pages

Mortgages (Reporting)

The document provides information about mortgages including key terms like down payment, mortgage loan amount, interest rates, and amortization tables. It explains how to calculate a down payment percentage and the remaining mortgage loan amount. It also describes how to compute monthly interest rates and payments over the lifetime of a mortgage using formulas.

Uploaded by

Nikki Palicpic
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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W EE LL CC O

W OMM EE

Lesson 6: Mortgages

Title Team Contents Closing


OUR TEAM:

Photo Photo

Nicole Palicpic Lj Banog

Title Team Contents Closing


LEARNING OBJECTIVES
1 SECOND
 Determine how payment is applied to
3
interest and principal, and determine the
FIRST balance of the loan after each payment; FINAL
 Comprehend what a mortgage is;  Prepare an amortization
 Compute for the down payment on a
mortgage and the amount of the 2 table; and solve problems
involving mortgages.
mortgage loan;

Title Team Contents Closing


CONTENTS:
MORTGAGES
A mortgage is probably the biggest loan one can have. It is usually
obtained for a house, a house and lot, or for a machinery or equipment.
Mortgage loan is when you use your property as a collateral for a
loan from a financial institution.

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CONTENTS:
DOWN PAYMENT AND MORTGAGE LOAN
For most installment purchases, a down payment is generally required. It
is usually a certain percent of the purchase price. At the most basic level, a
property mortgages involves payment of the purchase price for the property
and interest on the loan. The down payment is usually a certain percent of the
purchase price of the property. This is generally called the buyer’s equity.

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CONTENTS:
Assume that you wish to purchase a second-hand car worth Php312,500.00 and the seller
requires a 20% down payment.
To compute for the down payment:
Down payment = Purchase price Down payment %
Down payment = Php312,500 20%
Down payment = Php62,500.00

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CONTENTS:

Mortgage Loan = Purchase price Down payment


Mortgage Loan = Php312,500 Php62,500
Mortgage Loan = Php250,000.00

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CONTENTS:
TERM OF THE LOAN: TOTAL NUMBER OF PAYMENTS
The installment payment on the loan is termed amortization.
The scheduled prepared showing the installment payments for the
period of payment (called the term of the loan) is called amortization
table.

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CONTENTS:
TERM OF THE LOAN: TOTAL NUMBER OF PAYMENTS
In our example, assume that you have to make one payment
per month for 30 days.

Example: Total number of Payments = 30 12


30 years – term of the loan Total number of Payments = 30 12
Total number of Payments = 360 month

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CONTENTS:
MONTHLY PAYMENT
Given:
 5% - annual percentage rate (APR)
 12 – months per 30 years Monthly rate = APR Number of month
Monthly rate = 5% 12
Monthly rate = 0.41667%

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CONTENTS:
MONTHLY PAYMENT
To determine the monthly payment,

A
where: A – is the monthly payment;
where: P – is the loan’s initial amount;
where: i – is the monthly interest rate; and
where: n – is the total number of payments.

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CONTENTS:
Given: A–?
where: P – Php250,000 A
where: i – 0.41667
where: n – 360 A

Title Team Contents Closing


CONTENTS:
Given: A–?
where: P – Php250,000 A
where: i – 0.41667
where: n – 360 A

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TABLE OF CONTENTS
1 ABOUT
You could describe the
3
topic of the section
INTRO here FINAL
You could describe the You could describe the
topic of the section
here
2 topic of the section
here

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CC LL O
O SS II N
NGG

THANK YOU
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massa. Fusce posuere.

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