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Real Estate Finance - (GEN) New

Course Description

Course Introduction
This course provides an introduction to residential real estate finance, including information on how to underwrite FHA, VA, FNMA and FHLMC loans.

In this course, you will learn the basics of the different types of loans available, loan applications, appraisals, escrow, titles and credit reports, including qualifying for loan amounts and verifying income and assets.

You will also learn how to calculate loan amounts, estimate monthly payments, property taxes, hazard and mortgage insurance (for Conventional, FHA and VA) and qualifying ratios and income.

Learning Objectives

    • Understand the basic concepts and key terms of real estate financing and the key terms
    • Describe how to qualify a buyer for the most common types of loans
    • Understand the use and function of escrow accounts
    • Determine what a mortgage insurance premium is
    • Understand the process of underwriting its guidelines
    • Identify the three most common types of loans: conventional, FHA and VA
    • Explain the advantages and disadvantages of conventional loans
    • Distinguish how to use conventional qualifying ratios
    • State the advantages and disadvantages of FHA loans
    • Identify the differing FHA qualification ratios
    • Explain the advantages and disadvantages of VA loans
    • Describe VA eligibility and qualification periods
    • Calculate the amount of VA entitlement used
    • Calculate VA loan amounts and required down payments
    • Explain the process and qualifications for assuming VA and FHA loans
    • Identify other types of loans available
    • Understand how to underwrite and close loans



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