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Mortgage Loans
Understand the basics of mortgage loans.Preview the first lesson free — get full access to all 16 lessons.
Intermediate Provider : KnowledgeCity 5 chapters · 16 Lessons · 42m in Arabic, English
Course Description
Mortgage loans are fairly complex. This course is designed to teach you the fundamentals of mortgage loans including: the characteristics of both the primary and secondary markets, the various borrowing costs that exist within mortgages, lender protection, loan eligibility requirements, securitization, home equity loans, reverse mortgages, and more. By the end of this course, you will be able to explain the different types of mortgage loans that are available for potential homeowners as well as the process of obtaining a mortgage.
What You'll Learn
- Explain the different types of mortgage loans available for potential homeowners
- Describe the process of obtaining a mortgage
- Distinguish between the primary and secondary mortgage markets
- Identify the various borrowing costs, lender protection, and loan eligibility requirements within mortgages
- Compare home equity loans, home equity lines of credit, and reverse mortgages
- Understand mortgage-backed securities, securitization, and the role of investors
Key Takeaways
- Mortgage loans are fairly complex and involve characteristics in both the primary and secondary markets.
- Various borrowing costs exist within mortgages, alongside lender protection and loan eligibility requirements such as the debt-to-income ratio.
- Holding mortgages carries associated risks, and securitization turns mortgages into mortgage-backed securities for investors.
- Home equity loans, home equity lines of credit, and reverse mortgages are among the borrowing options the course covers.
- By the end of the course, learners can explain the available mortgage loan types and the process of obtaining a mortgage.
Frequently Asked Questions
What does this course cover?
It teaches the fundamentals of mortgage loans, including the characteristics of both the primary and secondary markets, the various borrowing costs within mortgages, lender protection, loan eligibility requirements, securitization, home equity loans, reverse mortgages, and more.
What will I be able to do after completing this course?
By the end of the course, you will be able to explain the different types of mortgage loans available for potential homeowners as well as the process of obtaining a mortgage.
What topics are included in the lessons?
Lessons cover the primary market, mortgage characteristics, borrowing costs, lender protection, debt-to-income ratio, mortgage payments, mortgage classification, risks associated with holding mortgages, the secondary market, mortgage-backed securities, investors, home equity loans, home equity lines of credit, and reverse mortgages.
What skills does this course help build?
It supports skills in mortgage laws, mortgage loan processing, mortgage loans, mortgage loan closing, mortgage loan origination, and mortgage licensing.
