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.
- 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
Check back for future sessions.