Lesson 3: Mortgage 101

September 10, 2025

Review:

• How to Buy Real Estate
• Properties identified
• Real estate interviews

Presentation:

“You’ll always run out of money before you run out of good deals.” – Artie Gilad

• Historical Mortgage Rates
• Realtor.com Mortgage 101 video series
• Mortgage Types
  • Fixed vs ARM
  • 10, 15, 20, 30 – which amortization?
  • 1, 3, 5, 7, 10 – which initial time period (before ARM rate adjusts)?
• How to qualify for a home loan – the 4 C’s

Activity:

• Amortization Exercise
  • Use the 3 properties you identified last week
  • Check out current interest rates.
  • Learn about amortization
    • Go to the Bankrate Mortgage Calculator
    • Scroll down and read, “How to calculate monthly payments”
  • Generate an amortization schedule
    • Scroll back up to the top of the page
    • Enter the asking price for the Home Price
    • Use 20% of the asking price as your Down Payment
    • Select 30 years as your Loan Term
    • Use current interest rates to determine an appropriate Interest Rate
    • Enter the ZIP Code for your chosen property
    • Click “Update” to generate an amortization schedule
  • Save the amortization schedule
    1. Scroll to the bottom of the amortization table and click “Export as CSV”
    2. Open the CSV in a spreadsheet and save for later use
    3. Repeat for your other 2 properties