Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending, and Math, Part 2
06/06/24 • 88 min
1 Listener
Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 2
Going through state exam questions to help real estate students pass their state exam.
01:35 – Thank you for helping me reach 500,000 downloads!!
02:40 – Find you support system to get you through the class, the exam, and your career.
05:55 – List of recent grads: Andrea, Dylan, Matt, Karina, Iris, Ricardo, Yadira, Miracle, Jennifer, Brittany, Antonio, Dominic, Ashley, Kristian, Halie, Rikkel, May, Blanca, Mayra, Chellsea, Marilyn, Leslie, Talia, Max, Danielle, Madelene, Sherry, Brooklyn, Gracelyn, Dar, Lillian, Alexander, Carmen, Tosin, Davonnia, Micah, Maria, Marcus, Lawrence, Bernadine, Fabiola, Ana, Jose, Natasha, Rachel, Alicia, Abby, John, Jason, Brandon, Oliver, Karla, Erin, Ameca, and Scott.
07:40 – Listener Messages from Matt and Karina.
12:05 – Episode Focus: Finance and lending in real estate, part two.
12:45 – Primary versus Secondary mortgage market.
15:40 – Loan to Value; LTV; loan and downpayment.
23:40 – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP); Homeowner’s Protection Act of 1998; Conventional loan; loan amount higher than 80% or downpayment lower than 20%.
27:25 – FHA and VA loans; insured versus guaranteed loans.
30:10 – Loan types: straight loan, adjustable-rate mortgage (ARM; index, margin, and rate caps), balloon loan, reverse mortgage, package loan, blanket loan, wraparound loan, home equity loan (HELOC), bridge loan, and buydown mortgage.
53:20 – Truth In Lending Act (TILA) and Regulation Z; applies only to residential loans; annual percentage rate (APR), three day right of recission; advertising; trigger terms.
1:04:10 – Reach out to me if you are seeing questions about credit scoring and/or loan underwriting.
1:05:15 - Exam questions
1:26:45 – July’s episode is all about appraisal and valuation; income approach, and other appraisal terms you will need to know to pass the real estate exam.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 2
Going through state exam questions to help real estate students pass their state exam.
01:35 – Thank you for helping me reach 500,000 downloads!!
02:40 – Find you support system to get you through the class, the exam, and your career.
05:55 – List of recent grads: Andrea, Dylan, Matt, Karina, Iris, Ricardo, Yadira, Miracle, Jennifer, Brittany, Antonio, Dominic, Ashley, Kristian, Halie, Rikkel, May, Blanca, Mayra, Chellsea, Marilyn, Leslie, Talia, Max, Danielle, Madelene, Sherry, Brooklyn, Gracelyn, Dar, Lillian, Alexander, Carmen, Tosin, Davonnia, Micah, Maria, Marcus, Lawrence, Bernadine, Fabiola, Ana, Jose, Natasha, Rachel, Alicia, Abby, John, Jason, Brandon, Oliver, Karla, Erin, Ameca, and Scott.
07:40 – Listener Messages from Matt and Karina.
12:05 – Episode Focus: Finance and lending in real estate, part two.
12:45 – Primary versus Secondary mortgage market.
15:40 – Loan to Value; LTV; loan and downpayment.
23:40 – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP); Homeowner’s Protection Act of 1998; Conventional loan; loan amount higher than 80% or downpayment lower than 20%.
27:25 – FHA and VA loans; insured versus guaranteed loans.
30:10 – Loan types: straight loan, adjustable-rate mortgage (ARM; index, margin, and rate caps), balloon loan, reverse mortgage, package loan, blanket loan, wraparound loan, home equity loan (HELOC), bridge loan, and buydown mortgage.
53:20 – Truth In Lending Act (TILA) and Regulation Z; applies only to residential loans; annual percentage rate (APR), three day right of recission; advertising; trigger terms.
1:04:10 – Reach out to me if you are seeing questions about credit scoring and/or loan underwriting.
1:05:15 - Exam questions
1:26:45 – July’s episode is all about appraisal and valuation; income approach, and other appraisal terms you will need to know to pass the real estate exam.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
Previous Episode
Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending, and Math, Part 1
Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 1
Going through state exam questions to help real estate students pass their state exam.
02:05 – B’s Message: Making mistakes is better than faking perfection.
06:30 – List of recent grads: Andrea, Joyce, Lynn, Adrienne, Abigail, Jessica, Angela, Sara, Marquita, Kimmy, Bruno, Eric, Jennifer, Rina, Daisy, Sabrina, Shauna, Marie, Anne, Renae, Staci, Samantha, Joey, Steven, Barbara, Tina, Elizabeth, Karen, Ashley, Lewis, Veronica, Adam, Delaney, Dianna, Claudia, Bryant, Perry, Melissa, Sheila, Tina, Frank, Lane, Daniel, and Jade.
08:30 – Listener Message from Andrea
12:20 – Episode Focus: Finance and lending in real estate, part one. Part two will come out in June.
14:00 – PITI payment; Principal, Interest, Taxes, and Insurance.
18:15 – DTI; Debt to Income ratio.
21:35 – Promissory note; IOU; contract between the borrower and the lender.
24:10 – Mortgage – verb and noun (lien); hypothecation; mortgagor and mortgagee; lien theory versus title (trust) theory.
31:55 – Interest payments; Formula: Loan amount x Periodic Interest Rate = Periodic Interest Payment; interest rate is almost always expressed as an annual rate.
37:40 – Discount point; increases yield to lender; reduces interest rate paid by borrower; value of a discount point; Formula: Loan Amount x Discount Point (as a percent) = Cost of Discount Point.
46:55 – Mortgage clauses: acceleration clause, defeasance clause (satisfaction of mortgage), and alienation clause.
52:15 – Foreclosure: judicial versus non-judicial; deed in lieu of foreclosure; short sale; redemption (equitable right versus statutory right); deficiency judgement.
1:00:25 – Exam questions
1:34:20 – June episode is part 2; LTV (loan to value), loan types, and governmental regulations (RESPA and TILA).
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
Next Episode
Episode 104 - Podcast Update
Episode 104 – Podcast Update
Going through state exam questions to help real estate students pass their state exam.
Quick update on the podcast and what I have been up to.
Bookmark www.aharealestateacademy.com for new classes in many other states.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
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