Upon completion of this course, students will be able to refer purchasers to the most appropriate method and source for financing the purchase of a home. Students will have the tools to calculate the monthly payment, including the insurances and taxes as well as the cash needed to complete the transaction.
The various types of mortgage loan officers are explained along with explanations of the decision making process involved in selecting an interest rate the term and the costs associated with each.
A quick recent history of rates and the legislation associated with how they came to be is helpful in understanding how we got where we are today. The industry acknowledged sequence of events leading to an offer, and how to construct that offer, are explained. Several charts evidence best practice for choosing buy vs rent, a quick guide on what salary levels qualify for what sale prices, and how the public perceives the industry and some of its complex guidelines.
Most interesting may be the formula for finding the sale price to direct clients to based upon their direction for the monthly payment. This is the future of mortgage lending.