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to take into account is that lending guidelines are constantly changing and some information in this course may become outdated rather frequently.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.
Real Estate Finance - South Carolina Real Estate Commission
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