Copyright

Ch 12: Obtaining a Real Estate Loan

About This Chapter

This chapter is helpful for those looking for more information on how to get a real estate loan. The course covers such topics as the different financial documents needed and lending issues that may come up.

Obtaining a Real Estate Loan - Chapter Summary

This chapter provides an overview of how to obtain a real estate loan. It also touches on the different acts regulating real estate sales. Lessons include such topics as RESPA and Regulation X, the Truth in Lending Act and Regulation Z, the Equal Credit Opportunity Act and Regulation B, and the S.A.F.E. Mortgage Licensing Act and Regulation G. After completing this chapter, you should be able to:

  • Draft financing documents in a real estate sale
  • Define good faith estimate
  • Explain the types and features of residential real estate loans
  • List the different methods and effects of seller financing
  • Explain the terminology for real estate finance documents
  • Explain lending issues in the real estate market
  • Calculate financials related to lending

Use our self-assessment quizzes at the end of each chapter to test your knowledge. If you need more review, use the links from the quiz questions that correspond with points in the video.

11 Lessons in Chapter 12: Obtaining a Real Estate Loan
Test your knowledge with a 30-question chapter practice test
Financing Documents in a Real Estate Sale

1. Financing Documents in a Real Estate Sale

A real estate sale involving financing typically contains at least three main documents; the loan agreement, a promissory note, and a mortgage instrument or deed of trust. In this lesson we will explain the details and purpose of each document.

What is a Good Faith Estimate? - Definition & Components

2. What is a Good Faith Estimate? - Definition & Components

A Good Faith Estimate helps borrowers make informed decisions when applying for a mortgage loan. Learn the ins and outs of a Good Faith Estimate (GFE) and how it works to bring transparency to real estate transactions.

Seller Financing: Definition, Method & Effects

3. Seller Financing: Definition, Method & Effects

In this lesson we will define seller financing and how it works. We will also address some of advantages and disadvantages of this creative financing method.

Residential Real Estate Loans: Types & Features

4. Residential Real Estate Loans: Types & Features

Different types of residential real estate loans involve varying interest rates and repayment schedules. In this lesson, we will explore some common loans and their features. Take a quiz after the lesson to test your knowledge.

Terminology for Real Estate Finance Documents

5. Terminology for Real Estate Finance Documents

Terminology related to financial documents in real estate can be intimidating. In this lesson, we will define some of the most common financial terms used in real estate and discuss how they impact the cost of borrowing.

RESPA & Regulation X: Definition & Overview

6. RESPA & Regulation X: Definition & Overview

Home buyers and anyone seeking real estate financing for residential property are provided with a number of benefits under RESPA and Regulation X. In this lesson we will look at the required disclosures and consumer protections in these laws.

Truth in Lending Act & Regulation Z: Definition & Overview

7. Truth in Lending Act & Regulation Z: Definition & Overview

How much does that home mortgage actually cost? Let's take a look at the highlights of the Truth in Lending Act and Regulation Z to see how lenders must inform borrowers about the total costs of borrowing money.

The Equal Credit Opportunity Act & Regulation B

8. The Equal Credit Opportunity Act & Regulation B

Most people need access to credit in order to purchase real estate. In this lesson, you'll learn about the Equal Opportunity Act and Regulation B and how they help ensure that lenders don't unfairly deny credit.

The S.A.F.E. Mortgage Licensing Act & Regulation G

9. The S.A.F.E. Mortgage Licensing Act & Regulation G

The housing crash of 2007 caused the government to enact new laws to stimulate the economy and protect consumers. Learn how the Secure and Fair Mortgage Enforcement Licensing (S.A.F.E.) Act was designed to make obtaining a mortgage more secure.

Lending Issues in the Real Estate Market

10. Lending Issues in the Real Estate Market

Since the 2007-2008 housing market collapse, two of the defining issues in real estate lending have been tightening up of lending standards and decreasing interest rates for mortgage loans. In this lesson, we will discuss these issues and how they affect the current housing market.

Financial Calculations Related to Lending

11. Financial Calculations Related to Lending

Loan shopping involves a number of financial calculations. In this lesson, we will look at some of the common formulas used when talking about qualifying for and paying down mortgages.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support