PARTNERSHIPS

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

Outcome 4. Homebuyer(s) can list the different parts of their monthly mortgage payment, and which are subject to change. Homebuyer(s)'s loan application is accepted and is ready to close on the home.

• Homebuyer(s)'s loan application is accepted and loan is locked.

• Habitat, Glacier Bank, and Title Company schedule closing. Home is closed on.

*Habitat Flathead has successfully prepared and guided another Habitat Homebuyer(s) through the building and buying process.

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

Do's and Don’t's: Mortgage Loan Process (HBEC)

Pieces of a Mortgage Payment (HBEC)

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