Comprehension check
Have students work individually to answer the questions. Then go over each question with the group. Here are a few comments you may want
to emphasize.

1. Interest rates vary from day to day, and each lender may have somewhat different rates.

2. Once a loan application is signed, often the buyer must accept the loan unless the reason for terminating the loan is one allowed within the
contingencies of the loan agreement.

3. The buyer is responsible for making the final walk-through. Once the closing documents are signed, the buyer accepts the house “as is.”

Talk about it
There are many possible responses to the questions in this section. Have students work in small groups to come up with responses. Then put all the responses given by students together on the board. Have students copy them to make their own, more complete list. Here are some things students should do before going to a loan interview:

1. Call ahead to make an appointment.

2. Get the lender to send a copy of the loan application ahead of time so it can be filled out in advance.

3. Make a list of the things that need to be brought to the interview and get them organized ahead of time.

4. Dress professionally.

5. Be on time.

6. Consider not bringing young children to the appointment.

Some things students should not do before going for a loan interview:

1. Forget to bring the papers you need with you.

2. Forget to write down the name of the person you are to meet with.

3. Forget to make copies of all the documents you need.

4. Show up late.

5. Sign anything you don’t understand.