Full Disclosure and APR

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Welcome to the course!
The Real Estate Business
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Chapter 8
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Real Estate Contracts
Residential Mortgages
Types of mortgages
- Qualifying for a Loan
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- Conventional Mortgages
- Conventional Mortgage Loan Features
- Total Obligations Ratio Calculation
- Interest Rate
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- Down Payment and Private Mortgage Insurance (PMI)
- Loan to Value Ratio (LTV)
- Common Types of Mortgages
- 30-Year and 15-Year Terms
- Components of a Mortgage Amortization Table
- Adjustable Rate Mortgage (ARM)
- Components of an ARM
- Components of ARM 2
- How Negative Amortization
- Custom Mortgages
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- Home Equity Loans & Home Equity Line of Credit (HELOC)
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- Government Insured FHA Program
- Characteristics of FHA Mortgage Loans
- Down Payment and Limits
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- Qualifying Ratios and Interest Rates
- Appraisal, Costs, Assumption, and Prepayment
- Common FHA Loan Programs
- Condominiums and Adjustable Rates
- VA Loan Guarantee Program
- Qualifications and Eligibility
- Lending Source and Eligible Property
- Discount Points and Loan Origination Fee
- Qualifying Ratios
- Loan Limits, Guarantee, and Down Payment
- Entitlement and Reusing the Entitlement
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- Prepayment, Assumption, and Interest Rate
- Depository lenders
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- Seller Financing
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- Amortized Mortgage
- Circulate the Mortgage Money Supply
- Standardize Loan Requirements
- Fannie Mae
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- Common Types of Mortgage Fraud
- No Document Loans
- Inflated Appraisal
- Inflated Contract Prices
- Ethical Practices
- Prohibits Discrimination
- Income Sources
- Child-Bearing Plans
- Regulation Z
- Full Disclosure and APR
- Consumer Credit Protection Act (Truth in Lending Act)
- Real Estate Settlement Procedures Act (RESPA)
- RESPA 2
- TILA-RESPA Integrated Disclosure Rule (TRID)
- Chapter 14 Quiz 10 xp
Real Estate Related Computations And Closing Of Transactions
The Real Estate Markets And Analysis
Real Estate Appraisal
Real Estate Investments And Business Opportunity Brokerage
Taxes Affecting Real Estate
Planning, Zoning And Environmental Hazards
Course Assessments

FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Types of mortgages

Section 68 of 72

TILA (Truth in Lending Act) requires lenders to disclose the true cost of credit so consumers can compare different loan offers. The most important figure they must disclose is the Annual Percentage Rate (APR). The APR is different from the simple interest rate (the "note rate") because it combines the interest rate with other loan charges like points and fees to show the total annual cost of the loan as a percentage.