Title: Describe the various types of mortgages and government influence on lending.
Course: Real Estate (12154) > Section: Examining Types of Mortgages and Deeds of Trust

Description should include

- types of mortgages available in the primary mortgage market including
  - conventional
  - Federal Housing Administration (FHA) insured loans
  - 203K home improvement loan
  - United States Department of Veterans Affairs (VA) guaranteed loans

- regulations
- loan guarantees
- government fiscal policy.

DPOR correlations: 18VAC135-20-400. 1 (Economy and social impact of real estate); 18VAC135-20-400. 6 (Mortgages and deeds of trust); 18VAC135-20-400. 7 (Mortgages); 18VAC135-20-400. 13 (Taxes in real estate); 18VAC135-20-400. 14 (Real estate financing); 18VAC135-20-400. 22 (Regulatory statutes); 18VAC135-20-400. 23 (Housing legislation)

Process/Skill Questions:

- What three guarantors are included in the primary mortgage market?
- Who guarantees an FHA loan? Who guarantees a VA loan? Who guarantees a conventional loan?
- What are the factors that influence the selection of a mortgage?