Use websites like Zillow.com or Realtor.com to find a house/condo/townhome in your area that you would want to purchase.
Use websites like Zillow.com or Realtor.com to find a house/condo/townhome in your area that you would want to purchase. Provide a screenshot of the house, price, and description in your journal and link to the specific home in case further information needs to be extracted.
Your instructor will act as your bank lender and will provide you with the specifics of the mortgage that you will acquire:
Down payment required
Number of points at closing
Time frame for loan
Interest rate
Annual insurance amount
Annual property taxes amount
Complete the Mortgage Journal TemplateLinks to an external site. that will require you to compute calculations needed for the mortgage.
GRADING
This activity will be graded using the Mortgage Journal Rubric.
COURSE OUTCOMES
CO 2: Solve personal finance problems involving percent, interest, and installment buying.
DUE DATE
By 11:59 p.m. MT on Sunday
Rubric
Mortgage Journal
Mortgage Journal
Criteria Ratings Pts
This criterion is linked to a Learning OutcomeScreenshotScreenshot that has a picture of home, total price of house, description, and link to the website that leads to the specific home.
4 pts
Proficient
Student provides a screenshot that has a picture of home, total price of house, description, and link to the website that leads to the specific home.
3 pts
Above Average
Student provides a screenshot that has a picture of home, total price of house, and description.
2 pts
Average
Student provides a screenshot that has a picture of home and total price of house.
1 pts
Needs Improvement
Student provides a screenshot that has a picture of home.
0 pts
No Effort
No screenshot has been provided.
4 pts
This criterion is linked to a Learning OutcomeMortgage CardProvides Mortgage Card given by the instructor in the journal.
2 pts
Proficient
Student provides ALL values of the Mortgage card.
1.5 pts
Above Average
Student provides more than half of the values of the mortgage card.
1 pts
Average
Student provides half of the values of the mortgage card.
0.5 pts
Needs Improvement
Student provides less than half of the values of the mortgage card.
0 pts
No Effort
No data was provided.
2 pts
This criterion is linked to a Learning OutcomeCalculationsCompletes Calculations Section of the Journal.
20 pts
Proficient
All calculations were done correctly and all work was shown.
15 pts
Above Average
All calculations were done correctly but some or no work was shown.
10 pts
Average
Some calculations were done incorrectly and all work was shown.
1 pts
Needs Improvement
Some calculations were done incorrectly but some or no work was shown.
0 pts
No Effort
The majority of the calculations were not completed.
20 pts
This criterion is linked to a Learning OutcomeAmortization CalculationsLoan amortization schedule preliminary calculations.
4 pts
Proficient
All information was listed and calculations were completed correctly.
3 pts
Above Average
All information was listed but some of the calculations were done incorrectly.
2 pts
Average
Some information is listed and some calculations are completed correctly.
1 pts
Needs Improvement
Values are listed and calculations are given but it is NOT based on the assigned Mortgage Card.
0 pts
No Effort
No information or calculations were listed.
4 pts
This criterion is linked to a Learning OutcomeAmortization ScheduleAmortization Schedule
20 pts
Proficient
Student completed the Loan Amortization correctly and work is shown.
15 pts
Above Average
Student completed the Loan Amortization table based on the correct values but it is incorrect OR correctly but no work is shown.
10 pts
Average
Student completed the Loan Amortization schedule correctly but not based on the correct values and work is shown.
5 pts
Needs Improvement
Student completed the Loan Amortization schedule incorrectly based on incorrect vales OR no work is shown.
0 pts
No Effort
The student did not complete the Loan Amortization table.
20 pts
This criterion is linked to a Learning OutcomeConclusion QuestionsConclusion Questions
15 pts
Proficient
Student answered both conclusion questions correctly. Presents information using clear and concise language in an organized manner (minimal errors in English grammar, spelling, syntax, and punctuation)
12 pts
Above Average
Student answered both conclusion questions correctly. Presents information in an organized manner (few errors in English grammar, spelling, syntax, and punctuation).
10 pts
Average
Student answered one question incorrectly. Presents information using clear and concise language in an organized manner (minimal errors in English grammar, spelling, syntax, and punctuation)
7 pts
Needs Improvement
Majority of the analysis is missing.
0 pts
No Effort
No Problem Anaylsis is provided.
15
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