Real Estate Finance is one of eight courses developed by the PA Real Estate Commission to fulfill the 6 credit elective requirement to qualify for a Broker’s license. It also fulfills 45 hours of continuing education requirements.

The course is designed to provide students with an overview of the US mortgage market, the major influences in our mortgage market and how the US financial system impacts mortgages. Students will learn 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 home buyers 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 roadmap to home ownership.

Learning Objectives

• Have a greater understanding of how to advise their clients, write up offers and provide knowledge of the working of the US mortgage market
• Identify the differences between loan programs and lenders
• Understand the prequalification process and what it takes to get a loan to closing
• Identify solutions to common approval challenges
• Identify which loan programs are the best choices for certain situations