After completing this course student will be able to Define and explain the use of the principal financing instruments – the note and the mortgage. Name major sources of mortgage loan funding in the primary market. Identify and explain the role of the primary players in the secondary market. Explain the significance of the Federal Reserve Board as it relates to mortgage lending. List the benefits and criticisms of the current trend toward computerized load approvals, including the drive-by appraisal. Calculate the borrowing power of a prospective purchaser. List the components of an adjustable rate mortgage, the benefits and disadvantages. Calculate Monthly mortgage payment on any given loan. Describe the guidelines for Fannie Mae/Freddie Mac, FHA and VA loans.
Camera & Microphone required in order to receive class credit. Zoom participants must be seated with camera on as if you were attending in person.
NO DRIVING, RIDING OR CELL PHONE USE DURING CLASS.
A graduate from University of South Dakota, with a teaching degree in Political Science, minors in music and math. Was a school teacher for 6 years. Obtained a real estate license in 1981 and a broker’s license in 1983.
He is active at all levels of real estate. He has the ABR, ABRM, CRB, CRS, GRI, and broker designations. He is the past president of the local MLS and Board of REALTORS®. He is a member of the State Board of Directors. He is also currently state officer for the Iowa CRS chapter. John is a Co-owner and designated broker of Century 21 Jacobsen Real Estate in Spencer, Iowa.
