While the process of buying a home can certainly be overwhelming, give your young adults a leg up for their future by introducing them to the components of a mortgage, as well as exploring the basic concept of credit and how to become informed and knowledgeable borrowers.

Concepts

mortgages, interest rates, interest, compound interest, loans, purchasing, credit, buying a house

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Additional Tags

social studies

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Instructional Ideas

• Given the large number of content-specific terms in this lesson, consider having students complete a vocabulary chart and use strategies that support further language acquisition (e.g. sketching associated images, creating mnemonics, etc.)

Classroom Considerations

• This is the sixteenth lesson in a series of 22 on equipping young adults with personal finance knowledge and strategies

Pros

• Valuable life skills lesson
• Excellent supplemental worksheets and activities included

Cons

• None

Common Core

RI.9-10.4 RI.11-12.4 W.9-10.8 W.11-12.8 SL.9-10.1.a SL.11-12.1.a