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150 FHA/VA Lending Basics
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Understand the role of the Federal government in mortgage lending and in the establishment of the secondary mortgage market; learn the basics of the FHA lending programs, with an emphasis on maximum loan amount calculations, ratios, and mortgage insurance calculations; understand the differences between the three HUD mortgage insurance funds; learn the basics of the VA lending programs, with an emphasis on eligibility requirements and the two methods of loan qualification; understand how to apply basic underwriting guidelines and criteria to the review and processing of FHA and VA mortgage loan files.
  
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