About This Chapter
Real Estate Lender Requirements - Chapter Summary
This chapter's lessons go over requirements for different types of financing in real estate lending. You'll also get reacquainted with various types of flood insurance and how to qualify home buyers. After finishing this chapter, you'll be ready to do the following:
- Provide a definition of FHA financing
- Explain what it takes to be eligible for VA financing
- Outline the process of making home buyer qualification calculations
- Discuss the meaning and purpose of flood insurance
Our instructors have made these lessons are easy to review and highly informative. Feel confident that you've absorbed the information by taking accompanying quizzes as well as a comprehensive chapter exam. If you need help understanding specific lesson topics, stop by the dashboard where you can send questions to our subject-matter experts. Each of our study materials is available around the clock, making it easy to prepare for your exam at your total convenience.
1. What is FHA Financing? - Definition & Requirements
Homebuyers short on cash with a few dings on their credit report may qualify for FHA financing. In this lesson, you'll learn about FHA financing and its requirements. You'll also have a chance to test your knowledge with a short quiz.
2. VA Financing: Eligibility & Requirements
The VA home loan is a financing option available to those who serve or have served in the United States Armed Forces. This lesson outlines who is eligible for a Department of Veterans Affairs mortgage and the VA's unique requirements.
3. Home Buyer Qualification Calculations
In this lesson we will look at some of the financial ratios used to determine how much of a monthly mortgage payment a buyer can qualify for, without wasting time on unaffordable properties.
4. Flood Insurance: Definition, Purpose & Types
If you live near a body of water, you may have heard about flood insurance. Standard homeowner's policies don't cover damage from flooding, so flood insurance is something extra. We will cover who needs to buy it and what it covers.
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Other chapters within the Indiana Real Estate Broker Exam Study Guide course
- Introduction to Real Property
- Public & Private Land-Use Control
- Estate Ownership, Rights & Interest
- Deeds & Property Transfers
- Property Titles
- Property Value & Appraisal
- Introduction to Real Estate Contracts
- Real Estate Agencies & Agency Relationships
- Listing Agreements & Property Management
- Fair Housing & Consumer Protection
- Risk Management in Real Estate
- Property Disclosures
- Introduction to Real Estate Financing
- Federal Real Estate Financing Regulations
- Closing & Settlement Real Estate Transactions
- Real Estate Investments
- Indiana Real Estate Commission & Licensing
- Indiana Real Estate Law
- Real Estate Business Procedures