FINANCIAL MANAGEMENT

MODULE 4:What makes up your monthly mortgage payment? Preparing to close on your Habitat home.

This module will prepare you for closing on your Habitat home, from buying insurance to closing costs. You will understand how the closing process works and the different parts of your monthly mortgage payment.

Mentor and Homebuyer(s):

  • Review and discuss cirriculum.

  • Discuss the different parts of their mortgage: escrow payments, insurance, property taxes, etc.

  • Homebuyer(s) applies for a loan through Glacier Bank.

Mentor asks questions to confirm understanding.

Resources:

Pieces of a Mortgage Payment

What are Closing Costs?

How to Buy Homeowners Insurance

Any 'homework' from Glacier Bank to move forward in loan application process.