Understanding your Borrower's Prequalifcation

“Understanding Your Buyer’s Prequalification” is a 2-hour course designed to help real estate professionals gain a general understanding of how their clients can best qualify for a mortgage loan. This course goes over the basic information needed as well as the process of prequalifying. Real estate agents will come away from this class with knowledge regarding what is required to document employment and income as well as how credit reports impact on the application. The course will also cover rules on bankruptcy and foreclosures.

Other topics will include description of types of loan programs such as VA, FHA, USDA and conventional loans. Attendees will gain understanding of Automated Underwriting (AU0 systems. Students will be able to read a prequalification letter and interpret the types of conditions that the letter may contain.

This class will prepare agents to better assist their clients during the application process.