Non-Traditional Mortgages

Course Goals

This course provides a survey of non-traditional mortgage products. Although real estate agents do not originate mortgage loans, understanding what mortgage products are available to clients will help real estate licensees provide a better client experience. It will also provide awareness of potential difficulties in the real estate transaction when clients opt for non-traditional mortgages.

In this course, you'll gain a general overview of the following non-conventional mortgage products:

• Adjustable-rate mortgages (ARMs)
• FHA and VA loans
• The Good Neighbor Next Door program
• The HomeReady® mortgage loan
• The HomeStyle® Renovation loan
• Energy efficient mortgage programs

Course Materials

This 3-hour online course includes reading material, polls, and short quizzes at the end of each chapter. Students must pass each activity in order to progress through the course. At the end of the course is a 10-question final exam that is not timed. Students have one attempt at the final exam. Failing to earn an 80% passing score requires the student to enroll in the course again (FAC 61J2-3.009(4)(a)). Re-enrollment is free.

A Notice of Satisfactory Course Completion Record is available after passing the final exam and completing a course feedback survey. The successful completion record will be electronically uploaded to the Department of Business and Professional Regulation (DBPR) within 48 hours. Licensees can verify their continuing education records by using the DBPR's online services website, myfloridalicense.com