Mortgage 101: Fundamentals of the Mortgage Process

This course provides step-by step instruction on the mortgage loan process—beginning with taking a loan application to funding the loan. REALTORS® will learn the fundamentals of commonly used loan programs, mortgage terms, and property types.

Key Topics:

• Qualifying a perspective client for a loan
• Filling out a Loan Application (1003)
• How to obtain a free credit report, read it, and correct it
• Loan programs: conventional, jumbo, FHA/VA, interest-only, etc.
• How to obtain a VA Certificate of Eligibility
• Review of property types: primary residence, second home, vacation, investment
• How to acquire FHA/VA condominium approval status
• First-time home buyer qualification and popular first-time home buyer programs and grants
• Mortgage loan timelines and "key players" in the loan process
• TRID basics