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MTG7333

Course
MTG7333
Course Title
Introduction to FHA Lending

Description

Introduce yourself to the world of FHA lending. In this online course, you will learn how to maneuver the FHA website, how to search for information, understand FHA calculations and determine borrower eligibility.

Objectives

Students will become familiar with FHA Mortgage Loans, understand FHA terminology, the differences between FHA and Conventional Loans, and be able to determine a borrower's eligibility.

Content

  1. Introduction to FHA
    • Overview of the website (where to find all information)
    • Review of most recent (and pertinent) mortgagee letters
  2. Review of FHA Handbook
    • Underwriting Overview
    • Maximum Mortgage Amounts/Cash Investment-Purchase
    • Maximum Mortgage Amount-Refinance
    • Borrower Eligibility and Credit Analysis
      • Borrower
      • Property
      • Credit
      • Employment
      • Non-Employment/Income
      • Borrower Qualifying Ratios
    • Funds to Close
      • Settlement Requirements
      • Acceptable Sources of Borrower Funds
      • Secondary Financing
    • Special Underwriting Instructions (General Comments)
      • FHA's TOTAL Mortgage Scorecard
      • Other Miscellaneous Information

Prerequisites

None

Method of Instruction

Lecture

Evaluation

None