Description

This course will teach you how to guide your buyers through the mortgage preapproval process by, for example, creating a mortgage application checklist with all of the documents they’ll need. The course also covers resources for addressing low credit scores, alternative financing options like first-time homebuyer assistance or low down payment programs, and how to avoid the most common mortgage sticking points in a transaction. For example, the mortgage preapproval—not just prequalification—has become key for buyers competing against multiple offers in today's market.

Learning Objectives

Module 1: Mortgage Finance: Key to a Competitive

• Explain the importance of understanding all aspects of mortgage finance to add value for your clients and grow a thriving real estate business.
• Define the terms and concepts integral to mortgage finance.
• Summarize the history of financing homes in the United States.

Module 2: Fair Housing and NAR Ethic

• Explain how the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) work to provide equal opportunity to housing and fair, unbiased access to financing for all potential homebuyers
• Summarize why it’s important for real estate professionals to have detailed knowledge of the FHA and ECOA and how it can help their business. 
• Describe how real estate professionals can practice NAR ethical principals in their business to enhance client outcomes and achieve increased success. 

Module 3: Current Market Conditions and Application Requirements

• Explain the factors that are contributing to today’s housing market conditions, as well as reasons for optimism and caution.
• Describe the state of mortgage lending today and the effect it has on the housing market generally, as well as individual home buyers.
• Create a mortgage application checklist that you can share with clients to help them better navigate the loan process.

Module 4: Types of Mortgage Product

• Distinguish between conventional versus government-backed mortgages, as well as the different types of government-backed mortgages.
• Explain the pros and cons of fixed versus adjustable-rate mortgages, as well as jumbo and reverse mortgages.
• Create educational aids to help clients better understand the mortgage market and set your business apart from the rest. 

Module 5: Types of Lenders and Mortgage Process

• Explain how the mortgage industry works and the process for applying for and getting approved for a mortgage.
• Describe the different types of lenders available to clients, as well as their rights to privacy and confidentiality.
• Create learning aids that you can use to help empower and educate your clients, while also gaining a competitive advantage in your market.

Module 6: Pro Tips to Help Your Client

• Explain how to help protect your client from lending discrimination as well as how to navigate the mortgage process generally.
• Discuss the importance of pre-approval and how clients should manage their finances after being preapproved through to closing.
• Provide troubleshooting tips for clients with low credit scores, who don’t understand how to assess loan estimates, or who have a lender appraisal come in too low.

Instructor

Grant Simon is an award-winning mortgage originator and educator. Grant is a 40 year veteran of the mortgage industry. He has been teaching and speaking across the country for more than 30 years. He is a licensed Real Estate Broker, a licensed Real Estate Instructor and a licensed Mortgage Originator ( NMLS # 301013) His present position is  Branch Manager for Ameris Bank.He was the 2015 Florida Realtor Educator of the Year and a 3 time ‘Educator of the Year’ for Orlando Regional Realtors® Association. Grant is on Florida Realtor Faculty and also instructs for REBAC (NAR’s Real Estate Buyers Agent Council) teaching the Military Relocation Professional (MRP), Investor Financing and the new Home Finance Resource (HFR) certification course which he was a contributor. He has written over 20 continuing education courses and teaches about 50 classes per years.

All REALTOR^® attendees will receive 6 hours of CE Specialty and credit towards the HFR - Home Finance Resource Certification.