Sponsor #S0643

Objective / Careers:

Pre-licensing requirement for real estate agent or real estate broker license.

Registration and Course Length:

  • This course is the third and last mandatory course for all potential California real estate licensees. You’ll learn about real estate financing, consumer protections, rules, regulations and laws, types of loans, qualifications and other practical topics geared toward real world financing in California.
  • The California Real Estate Practices Course is the second of three mandatory courses for all potential California real estate licensees. This course discusses practical topics for establishing a successful real estate career.
  • The Real Estate Finance consists of spending a minimum of a 45-hours reading and studying the course text book, taking the non-graded chapter quizzes and passing a final examination.
  • The final examination can be taken a minimum of 18 days from the date the students have access to the course materials.
  • No two courses can be completed in less than five weeks.
  • It is very important that the name used when submitting materials to the school is spelled exactly the same as the name under which you will be applying for your real estate license examination.
  • The final exam can be conducted under the supervision of a proctor, or it can be completed online with positive ID verification. Please ensure your ID, camera, internet connection, and browser are ready before you take the final exam.
  • Students can take the final exam 18 days after they start the course. If a student doesn’t score at least 70% and fails the exam, they must wait 18 days before they can try one more time. If they don’t pass on their second try, they will have to take the course again.
  • The student has a minimum of 2 ½ weeks studying the course. The maximum time a student has to complete the course is 12 months from the date of registration. If the final exam is not completed within this time, the course is expired and no credit will be given toward any part. If the student does not complete the course within the one year period, the student needs to re-enroll as a new student and pay the full tuition fee.

Textbook:

Real Estate Finance by Walt Huber, Levin P. Messick, 8th edition.

The following topics will be covered:

  1. FinTech, the SAFE Act, and the Fed
  2. The Real Estate Cycle and the Secondary Market
  3. Loan Fund Sources for the Primary Market
  4. The Secondary Mortgage Market and Federal Credit Agencies
  5. Ethics, Fraud, Consumer Protection, and Fair Lending
  6. Federal Regulation (TILA/RESPA/TRID)
  7. Finance Instruments
  8. Overview of the Loan Process
  9. Conventional Financing
  10. Alternative Financing
  11. Government Programs: FHA and VA Loans
  12. Seller Financing
  13. Qualifying the Borrower
  14. Qualifying the Property
  15. State Licensing Requirements