Home Mortgages 101 - Breaking Down The Basics
Knowing some basics about mortgages and will make you a better adviser to your clients and a more effective businessperson.
About The Class
Unless all your clients are cash buyers, mortgages are an integral part of any real estate agent’s business. Knowing some basics about mortgages make you a better adviser to your clients and a more effective businessperson. Although it is by no means necessary to become a mortgage expert, this class will provide mortgage insights that will increase your value as a real estate agent.
We will discuss:
- The various stages of a loan – From the time an loan is received to funded the file goes through different stages and departments. We will discuss the different people that will working each file
- What should buyers be prepared for when applying for a loan? A mortgage loan is never simple, and it is even trickier when you don’t know what to expect. We will discuss the dos and don’ts of the mortgage application.
- What is the value in getting preapproved or prequalified for a mortgage? We will go over the drastic difference of how these two documents can help you get into a home.
- What’s the difference between Fannie Mae, Freddie Mac, and other government-sponsored enterprises (GSEs)? As the largest aggregates in the mortgage industry, we will discuss their purpose in the mortgage industry.