Creating Your Dream Home:Construction-to-PermanentLoan Programs EDIT 6170 ePoster Presentation Diane M. Chubb April 27, 2005
Needs Assessment • Instructional Problem – Consumer-oriented resources for C2P loans does not adequately describes loan features, interest rate policies and payment procedures that would assist potential loan customers in determining if this particular product would need their financial needs. • Methodology – Survey of mortgage loan officers, review of websites and personal experiences.
Instructional Goal Potential loan customers will be able to assess the relative advantages and disadvantages of C2P loan product by comparing the features and requirements of a C2P loan with other construction loan products.
Design Course Units and Terminal Objectives 1. C2P Loan Basics – The SWBAT identify the features associated with a C2P loan. 2. Interest Payments – Given a hypothetical interest rate, loan amount and term, the SWBAT construct a schedule of monthly interest payments. 3. Consumer Resources – The SWBAT identify one resource for information on C2P loans.
DesignUnit #2 – Interest Payments • Developed two lessons for Unit #2; Initially developed five lessons, but revised lessons after expert evaluation. • Developed five performance objectives for Unit #2 which corresponds to terminal objectives
DevelopmentUnit #2-Interest Payments Instructional Strategy • Pre-instruction – Powerpoint presentation to introduce topic. • Content – Review terminology, describe concept; provide examples. • Learner Participation – Case study using multiple choice questions. • Assessment – Calculate two monthly payments.
Formative Evaluation • Experts – Mortgage loan officer and C2P loan administrator reviewed draft of content using checklist. • Results – Several concepts missing in VI; minor inaccuracies noted in content; improper sequencing of concepts. • Impact on Design – More verbal information added prior to problem solving; re-organization of sequence; correction of inaccuracies.
Formative Evaluation • Three Learners in One-to-One Evaluation • Pilot version of course • Checklist and Observation • Results –Two out of three learners scored 100% on final assessment of constructing a schedule of interest payments. • Results – One learner reported difficulty in understanding computation steps.