Real Estate Finance

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.

Includes: Certificate of Completion

Credit Type: General Real Estate

Credit: 3 Hour(s) | Language: English

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About this Course

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, about 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 loans) and qualifying ratios and income.

One very important point to take into account is that lending guidelines are constantly changing and some information in this course may become outdated rather frequently. As of this writing, there are already changes being contemplated with regard to the Dodd Frank and the Consumer Finance Protection Bureau guidelines. Working with lenders who are current will be very important for the agent to provide the best possible service to clients. In addition, it will be very important for the real estate agent to stay abreast of the continuous changes by referring to the websites referenced in this course on a regular basis and staying educated on such changes.

Course Topics

Lesson 1: Introduction to Real Estate Financing

Lesson 2: Conventional Loans

Lesson 3: FHA Loans

Lesson 4: VA Loans

Lesson 5: Basics of Real Estate Financing

Course Learning Objectives

Upon completion of this course, you should be able to:

  • List the basic concepts and key terms of real estate financing.
  • Describe how to qualify a buyer for the most common types of loans.
  • Explain the use and function of escrow accounts.
  • Specify what a mortgage insurance premium is.
  • Explain how the Dodd Frank Act and the Consumer Finance Protection Bureau affect underwriting and lending.
  • Identify the three most common types of loans: conventional, FHA, and VA.
  • Explain the advantages and disadvantages of conventional loans.
  • Illustrate how to use conventional qualifying ratios.
  • Distinguish between the advantages and the disadvantages of FHA loans.
  • Identify the differing FHA qualification ratios.
  • Explain the advantages and disadvantages of VA loans.
  • Describe VA eligibility and list qualification periods.
  • Calculate VA loan amounts and the amount of VA entitlement used.
  • Explain the process and qualifications for assuming VA and FHA loans.
  • Identify other types of loans available.
  • Describe how to underwrite and close loans.

Regulatory Information

Name:Arizona Department of Real Estate
Phone:602-771-7720
Fax:602-957-0658
Website URL:https://www.azre.gov
Email Address:education@azre.gov
Address:100 N. 15th Ave.,Suite 201
City:Phoenix
State:AZ
Zip:85007

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