FHA/VA Processing
Online Course: ID# 1004755
Price: $395.00
Qty:
About This Course:
"FHA/VA Processing" provides comprehensive, instructor-led online program provides thorough training on how to process FHA & VA loans to new and seasoned mortgage processors alike. It includes an in-depth study that examines all aspects of Federal Housing Administration and Veterans Affairs loans.
It is designed to teach the fundamentals of the new FHA/VA processing to new and seasoned mortgage processors alike.
Course OutlineIn this course you will learn about:
- Overview of FHA and VA programs
- Maximum Mortgage Limits
- Case Numbers
- AUS Recommendations
- Credit, Income and Asset Analysis
- Title Commitment Review
- TRID
- Appraisal
- Loan Estimate (LE)
- Closing Disclosure
Upon finishing the course you will receive a Certificate of Completion to show prospective employers and the skills required to be a successful mortgage processor.
Anticipated Time To CompleteThis online course will take approximately three hours to complete. You do not have to complete the course in one sitting - there are bookmarks in this course that allow you to stop and restart as needed.
Access InformationUpon enrollment, you'll receive an email from the course provider (CampusMortgage®) with links and passwords to access the course. You will have full access to the course for one full year.
Top FAQs
Borrowers are required to pay a mortgage insurance premium, are subject to loan maximums, and meet minimum property standards.
An FHA loan is a type of government-backed mortgage insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development, or HUD. FHA borrowers pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
FHA home loans have attractive interest rates and less stringent qualifications on things like down payment amounts and credit scores.
FHA loans are not as attractive as conventional loans due to FHA's loan limit restrictions, higher mortgage insurance costs, and stricter appraisal guidelines.
FHA loans are typically easier to qualify for, with lower down payment and credit score requirements, making them a perfect solution for those that can't qualify for a conventional loan.
An FHA Loan Processor is responsible for analyzing the loan applications, assessing creditworthiness, and determining the likelihood of loan repayment.
VA loans help current and past members of the military to purchase homes.
No downpayment, private mortgage insurance not required, low interest rates, and lower closing costs
Little or low money down means less equity and limits to use (can't be used for rental or vacation properties).
A VA Loan Processor is responsible for analyzing the loan applications, assessing creditworthiness, and determining the likelihood of loan repayment.
