Title: Describe various loan programs for mortgages.
Course: Real Estate (12154) > Section: Exploring Real Estate Financing

Description should include mortgage payment plans such as

- conventional
- private mortgage insurance (PMI)
- FHA-insured loans
- VA-guaranteed loans
- agricultural loan programs.

Description should also include other financing techniques such as

- package loan
- blanket loan
- wraparound loan
- open-end loan
- home-equity loan.

DPOR correlations: 18VAC135-20-400. 6 (Mortgages and deeds of trust); 18VAC135-20-400. 7 (Types of mortgages); 18VAC135-20-400. 14 (Real estate financing)

Process/Skill Questions:

- When is PMI required for a mortgage loan?
- What are the most common types of loan programs used in the real estate market?