Mortgages, FNMA, FICO, ETC.
Course Type: Elective
This is a new course that introduces you to mortgages, financing, credit score, etc. We will discuss how to find out how much your client can borrow, estimating home ownership expenses, how to qualify for a mortgage and creative financing methods when your client is short of cash. We will discuss the different types of mortgages that are available to the borrower, FHA, VA, conventional loans, conforming or jumbo loans, primary and secondary market and how they function in the world of finances. You will learn terms used in mortgages, what PMI does, fixed vs. variable loans, bridge and construction loans vs. permanent takeout loans, how to find lenders and the types of seller financing. You will learn how FICO scores play a vital role in the loan process, about points and interest rates, how to fill out the uniform residential loan application form, what is a reverse mortgage, pros and cons of prepaying your loan and methods to pay off the loan earlier. This course will explain the loan process that is easy to understand.
This course is not currently being offered in the classroom, please check back later.
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Please note:The REC has a new ruling that agents can take the same CE class every other biennium which is different from the old law that stated that agents could never repeat the same class.
>> Check your credited course history and CE status.
If you have further questions or concerns about any material listed here please contact Abe Lee Seminars using any method listed below.