Provides definitions of consumer credit terms to assist in discussions with clients and explains the growth and demand of non-real estate related products. Explores real estate-related terms for home equity loans, home equity lines of credit, loan to value ratios, and how to calculate the maximum loan amounts.
After completing this course, students will be able to:
• Define basic consumer credit terminology to clients
• Identify features of consumer credit products
• Explain the two loan categories – non-real estate-related and real estate-related – along with the products associated with the categories
• Determine the maximum loan amount available based on collateral value, for real estate-related products