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RES 1501 Real Estate Finance & Appraisal

Exploration of the methods and procedures involved in the financing of real estate. Comparison of various loan programs and their unique characteristics. A detailed review of the loan application and closing process as it relates to residential real estate transactions. The role and methodology involved in an appraisal report and its position in the loan approval process. Understanding the three most common approaches to value, the application of each in residential transactions, and the analysis of investment properties.

Division: Business and Public Services
Department: Real Estate
Repeatable Credit: No
Offered Online: Yes

Prereqs: NONE  

Outcomes

  • Describe and illustrate the process used to qualify and process a mortgage loan.
  • Compare and differentiate between Conventional, FHA, and VA loan products.
  • Explore the use and importance of notes and mortgages in real estate financing.
  • Practice and master basic loan calculations and apply them to loan approval and processing.
  • Recognize the purpose and use of the appraisal report.
  • Discuss and apply the three approaches to value utilized in appraising residential and investment properties.
  • Recognize the steps in the appraisal process and illustrate the role each plays in determining value.
  • Practice the process of preparing a Comparative Market Analysis (CMA) by choosing appropriate comparable.

Credit Hours: 2

Classroom Hours: 2