CE Electives: Understanding the Pre-Approval Process and First-Time Homebuyer Financing [NVAR Fairfax]
Instructor: JD Teitelman, Main Street Home Loans
Location/Venue:
NVAR Fairfax
8407 Pennell Street
Fairfax, VA 22031
View on Map
Understanding the Pre-Approval Process (1 hour)
We know that the best way to work with your client is to understand how much house they can afford. In this class we will pull the curtain back into what a mortgage loan officer does to get your client pre-approval for a mortgage and how the process works. We will discuss the difference between pre-approval and pre-qualification. In addition, we will discuss the four C's of underwriting - capacity, collateral, credit and capital as to how it relates to the pre-approval process. Finally, we will discuss which questions agents should ask of a mortgage loan officer when verifying a pre-approval letter. 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.
Cancellation policy applies upon registering for this course. Cancellation fee is $10. No exceptions.