Foundations of Mortgage and Housing Debt

A mortgage is often the largest debt of a household. Sound understanding rests on the principles of mortgage types, amortization, and the role of refinancing. This foundational course provides that base. By the end of this course you will be able to describe the main mortgage types, recognize how amortization works, identify the principles of refinancing decisions, and understand the role of home equity products. What you will learn: - The main mortgage types including fixed, adjustable, and government-backed loans - How amortization works and how it affects payoff timing - The principles of refinancing including breakeven analysis - The role of home equity products including HELOCs and home equity loans - The role of mortgage insurance and how it ends - Common strategies including extra payments and biweekly schedules - The signs that suggest consultation with mortgage professionals or housing counselors The course uses readings, principle summaries, case examples, and reflection prompts. Each module ends with applied exercises. The course is informational and does not substitute for licensed financial advice. This course is written for homeowners and prospective homeowners. By the end you will have replaced confusion about mortgages with a structured understanding.