Why take this course?Real Estate Finance is one of eight courses developed by the Pa. Real Estate Commission to fulfill the 6 credit elective requirements needed to qualify for a Broker’s license. It also fulfills 30 hours of continuing education.
The course is designed to provide students with an overview of the U.S. mortgage market, the major influences in our mortgage market and how the U.S. financial system ties in to mortgages. Students will learn more about the different types of loan programs, loan pricing, servicing and various features of residential mortgage loan programs. Closing costs will be reviewed as well as the different types of mortgage insurance programs.
In addition, this course will provide students with practical knowledge of the mortgage loan process for homebuyers and internally for lenders. The different types of lenders will be discussed along with interest rates, loan pricing and rate locks. Details of credit, income, employment, assets and more will be covered to provide a thorough understanding of how mortgage applications get approved. Different property and occupancy types, and their impact on lending, will be explained. Solutions of common challenges will be discussed showing that every prospective buyer has a road map to homeownership.
Upon completion, students will have a greater understanding of how to advise their clients, write up offers and provide some inside knowledge of the working of the U.S. mortgage market, which will be effective in recognizing the difference between loan programs and lenders. Students will have a greater understanding of the prequalification process and what it takes to get a loan to closing. Also, they will learn some solutions to common approval challenges and which loan programs are the best choice for certain situations.
Course MaterialsAll handouts are included. There is no required text.