CE Electives: FHA Mortgages and First-Time Homebuyer Financing [NVAR Loudoun]

Instructor: JD Teitelman, Main Street Home Loans

Location/Venue:
NVAR Loudoun
20365 Exchange Street
Ashburn, VA 20147
View on Map

VA Elective CE: 2 hours (Each course listed below will give one hour of elective continuing education credit)

First-Time Homebuyer Financing (1 hour) This course will review the various definitions of First-Time Homebuyers and information from surveys on who they are.  It will also cover mortgage restrictions on First-Time Homebuyeres, different state agency programs (down payment assistance) availability and mortgage insurance.  Lastly, the course will cover borrowers with limited/no credit and how we can use alternative credit to get these clients approved.

FHA Mortgages (1 hour) The class will start with a review of history and origins of FHA. Bring the discuss to current day, we will discuss unique characteristics of FHA mortgages, why a client may choose FHA vs conventional financing, and FHA underwriting (role of the underwriter (automated vs manual), income, assets including down payment assistance, and credit guidelines). Next, we will discuss FHA financing on condos, new construction and recently purchased homes (FHA flip rule).  We will discuss the role of the appraiser in FHA transactions. Finally, we will discuss the FHA addendum/contract requirements.

Cancellation policy applies upon registering for this course for non-members.  Cancellation fee is $10. No exceptions.