I have been tasked with a homework assignment of an ER diagram for an individual(s) mortgage.
Here is the requirements of the schema:
We need to store information about mortgages we originate. Each mortgage is identified by unique loan number, has at least one borrower and is secured by collateral. For borrowers we need to keep track of name, SSN and date of birth. For collateral we'll need to know its address and value. Collateral can be only used for one loan. Borrowers can have more than one mortgage. There are 3 types of mortgages: Fixed, Adjustable and Interest Only. For fixed we need to keep track of rate and term (in years). For adjustable: initial rate, initial rate term, current rate and term. For interest only mortgages we need only current rate and term. For all mortgages we'll need to know original amount and current principal amount. Last but not least we'll need to keep track of payments: when they were made, total payment amount, what amount went to principal, interest and escrow.
I have attached a pdf of the diagram I have completed so far:
My questions are,
I am going in the right direction for this ER diagram?
If not can someone show me what I need to do to correct it?
Lastly, I am stuck as to how I should "relate" the payment. Actually I am stuck on the relations themselves.
I would really appreciate any help. This is the first one I have done.
Thanks in advance.