Become A Trusted Mortgage Loan Advisor

Unlock the keys to mortgage success—master the process, payments, and financial strategies with ease!

What you'll learn

Understand Mortgage Basics: Gain a comprehensive understanding of key mortgage terms, the roles of borrowers and lenders, and the parties involved

Master the Mortgage Process: Learn the step-by-step process of applying for and securing a mortgage, from application submission to final approval

Explore Appraisal Processes: Understand credit and property appraisal methods used by lenders to evaluate risk and property value.

Compare Mortgage Types: Explore different types of mortgages, including Fixed Rate Mortgages, Adjustable Rate Mortgages (ARMs), Interest-only loans.

Learn Mortgage Underwriting: Delve into the mortgage underwriting process, discovering how underwriters evaluate loans and manage risk

Calculate Interest Rates & Amortization: Grasp how mortgage interest rates are calculated and their effect on payments.

Discover Key Mortgage Concepts: Learn about important topics such as loan applications, associated fees, repayment structures, tax benefits, foreclosure

Apply Concepts with Numerical Examples: Gain practical skills by working through mortgage payment calculations, interest, and prepayment scenarios using Excel

Requirements

Basic Financial Knowledge: Familiarity with concepts like interest rates, loans, and general financial transactions will help you grasp the mortgage process more easily.

Comfort with Spreadsheets: A basic understanding of Excel or any spreadsheet software is recommended, as there will be numerical examples and calculations related to mortgages.

Willingness to Learn: Since the course covers various mortgage-related processes, a keen interest in real estate, finance, or advising is important for engaging with the content.

Description

Introduction:This comprehensive course, Mastering Mortgage Essentials: From Process to Payments, is designed to guide you through the fundamental concepts of mortgages, providing you with a deep understanding of the key steps, processes, and financial strategies involved in securing and managing a mortgage. Whether you’re an aspiring mortgage advisor, real estate professional, or a potential homebuyer, this course will help you build a solid foundation in the world of mortgage finance, from the basic terms to complex repayment structures.Section 1: IntroductionIn the opening section, you will be introduced to the world of mortgages, starting with an overview of what a mortgage is and the common terminology used in the industry. You’ll gain insights into the roles of different parties involved in the mortgage process, including borrowers and lenders, and understand the relationship between them. This section lays the groundwork for understanding the complexities of mortgage transactions and provides a clear picture of the key stakeholders in the mortgage ecosystem.Section 2: Steps in Mortgage ProcessThis section dives into the step-by-step mortgage process. You’ll be guided through the critical phases of securing a mortgage, from the initial application to the final approval and disbursement. Each step will be clearly explained, along with the essential documents required at each stage. You’ll also learn the key considerations for borrowers, including the components that make up mortgage payments, ensuring that you’re well-prepared to navigate the mortgage landscape confidently.Section 3: Appraisal ProcessesA crucial aspect of any mortgage is the appraisal process, and in this section, you’ll explore both credit and property appraisal techniques. Lenders rely on these processes to assess the borrower’s financial health and the value of the property in question. You'll also learn about the risks lenders face and how they manage these risks to protect their investments. By the end of this section, you’ll have a strong understanding of the appraisal mechanisms that drive mortgage approval decisions.Section 4: Types of MortgagesIn this section, the course covers various types of mortgages available in the market, such as Fixed Rate Mortgages, Adjustable Rate Mortgages (ARMs), Interest-only loans, and Balloon Payment Mortgages. You’ll learn the pros and cons of each mortgage type, including detailed explanations of how ARMs function and their basic features. This section helps you identify the best mortgage type for different financial situations and client needs.Section 5: Mortgage Underwriting & Escrow AccountsMortgage underwriting is an essential process that determines the eligibility of a borrower. This section explains the mortgage underwriting process in detail, highlighting the factors underwriters consider before approving a loan. You will also be introduced to the concept of escrow accounts and their role in managing taxes and insurance payments. This section is key to understanding how lenders assess and manage loan risk.Section 6: Interest Rates and Amortization ScheduleInterest rates significantly impact mortgage payments, and in this section, you’ll gain a deeper understanding of how mortgage interest rates are determined and how they affect overall loan costs. Additionally, you’ll learn to create and interpret amortization schedules, which help track loan repayment progress, including both principal and interest payments over time. This knowledge is essential for any mortgage advisor or borrower.Section 7: Other Important ConceptsThis section introduces additional critical mortgage concepts that all professionals and borrowers need to know. Topics include the loan application process, various costs and fees associated with mortgages, repayment structures, tax benefits, foreclosure procedures, and reverse mortgages. You’ll also learn how different repayment options and tax advantages can impact long-term financial planning for homeowners.Section 8: Numerical Examples in ExcelIn the final section, you’ll put theory into practice with hands-on numerical examples in Excel. You’ll calculate fixed payments, interest payments, and prepayment structures for both principal and interest, helping you visualize real-world mortgage scenarios. These exercises will solidify your understanding of mortgage calculations and give you the tools to advise clients or manage personal mortgages effectively.Conclusion:By the end of the course, you will have a thorough understanding of mortgage fundamentals, from the basic terminology and processes to advanced financial strategies and calculations. You’ll be able to navigate the mortgage market confidently, provide expert advice, or make informed decisions for your own property investments. This course equips you with the essential knowledge and practical tools to succeed in the world of mortgages.

Overview

Section 1: Introduction

Lecture 1 Introduction to Mortgage

Lecture 2 What is Mortgage

Lecture 3 Common Terms in Mortgage

Lecture 4 Parties involved in Mortgage

Lecture 5 Who are Mortgage Borrowers and Lenders

Section 2: Steps in Mortgage Process

Lecture 6 Mortgage Process- Step 1

Lecture 7 Mortgage Process- Step 2 and 3

Lecture 8 Mortgage Process- Step 4 to 6

Lecture 9 Important Documents required

Lecture 10 Important Points for the Borrower

Lecture 11 Components of Mortgage Payments

Section 3: Appraisal Processes

Lecture 12 Credit Appraisal Processes

Lecture 13 Property Appraisal Processes

Lecture 14 Types of Risks for the Lenders

Section 4: Types of Mortgages

Lecture 15 Fixed Rate Mortgage

Lecture 16 Adjustable Rate Mortgages

Lecture 17 Basic Features of ARM's

Lecture 18 Interest only loan

Lecture 19 Balloon Payment Mortgages

Section 5: Mortgage Underwriting & Escrow Account

Lecture 20 Mortgage underwriting

Lecture 21 Escrow Account

Section 6: Interest Rates and Amortization Schedule

Lecture 22 Understanding Mortgage Interest rates

Lecture 23 Amortization Schedule

Section 7: Other Important Concepts

Lecture 24 Loan Application Form

Lecture 25 Cost and Fees involved

Lecture 26 Repayment Structure

Lecture 27 Tax Benefits

Lecture 28 Foreclosure

Lecture 29 Reverse Mortgage

Section 8: Numerical Examples in Excel

Lecture 30 Fixed Payments calculations- Principal

Lecture 31 Fixed Payments calculations- Interest

Lecture 32 Prepayment structure- Interest

Lecture 33 Prepayment structure- Principal

Lecture 34 Conclusion

Aspiring Mortgage Advisors: Individuals looking to build a career as mortgage advisors will find this course essential, as it covers key processes, terminology, and the mortgage lifecycle.,Real Estate Professionals: Those working in real estate, or planning to, will benefit from a deeper understanding of mortgages, appraisals, and financing, enhancing their ability to guide clients.,Homebuyers and Borrowers: Anyone planning to purchase a home or navigate the mortgage process can use this course to better understand the steps involved, including terms, interest rates, and legal aspects.,Financial Advisors and Planners: Finance professionals seeking to expand their knowledge in real estate and mortgage products will find valuable insights into mortgage structures, risk assessments, and tax benefits.,Students of Finance: Those studying finance or real estate who want a practical understanding of mortgages, lending, and property appraisals will find the course informative and hands-on.