Description

This financial literacy activity will teach students how to determine an affordable budget for a home mortgage, calculate down payments, and use a mortgage payment calculator to estimate monthly payments and interest.

Students will learn the necessary vocabulary and work through examples using the provided Google Slides and guided notes. Students will then draw ‘buyer cards’ with an individual’s or family’s income. They’ll use this information to create a home budget for the family and then use a home search website to find two affordable homes in your area for the buyer. They’ll calculate the down payment and the monthly payments for these homes using an online payment calculator and calculate the interest owed and the amount to be repaid.

Lesson and activity includes:

• Google Slides with teaching notes for easy instruction
• Guided Notes for students
• Buying a House Activity with 16 ‘Buyer Cards’