Types of Mortgages: VA, FHA & Conventional | Real Estate Exam Prep

In this real estate prep exam video, we will discuss the 3 most common types of mortgages: Veterans' Affairs (VA) Loan, Federal Housing Administration (FHA) Loan, and Conventional Loan. Key real estate terms in this real estate exam prep video:

Veterans Affairs Loan (VA) -
Federal Housing Administration (FHA) Loans -
Conventional Loans -
VA Escape Clause -
FHA Escape Clause -
Private Mortgage Insurance -
Mortgage Insurance Premium -
Mortgagor -
Mortgagee -

Best of luck with your studies...

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Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
P. O. Box 540725
Omaha, NE 68154
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.

Cheers,
Paul Vojchehoske

[JustReadTheBible]

Mission accomplished- I passed my NJ license exam on the first try today! I have been studying for the NJ exam for about 3 months (I’m currently licensed & transacting in NY). With a toddler and one on the way, your channel is the only reason I got any substantial studying in during the day. I have just been streaming your videos on repeat for weeks. THANK YOU!!!

[kaylynvizcarra]

You’re the best . That’s all I wanted to say 👏

[mcleod]

The psi practice exam asked me go insures loans I said FHA and it said VA I was so mad I’m seeing a few questions on psi websites that contradict everything I’ve learned

[gpatel]

so....nice and easy to understand. must see all video. ver helpful .thanks

[savannalewandowski]

i had a question that asked which loan had the lowest closing cost. I thought it would be va loans is that correct?

[jasonhetke]

so if a veteran went into business with a builder on a 4 unit, could they still receive VA benefits if they both lived there and rented out the other 2 units?

[ltetelestaio]

Where were you when I took my MLO license??? 🤣.

[hecmary]

I'm so grateful for your videos, you explain things is such a way that stays with me. Even though I am taking my classes locally, I can always come to your channel and get a clear understanding at my own pace especially because English is my second language, so Thank you.

[ernesttoland]

Informative and very professionally presented with Simplicity in mind for someone who's not familiar with real estate Doctrine and procedure.

[Troyson]

@The Real Estate Classroom I just passed my Maryland Real Estate licensing exam yesterday. I've been watching your videos now for about a month now. Your videos helped contributed to me passing. Thank you so much and please keep up the good work. ^_^

[LLyman]

You are very thorough in your teachings! Thank you!

[tarabridges]

I am in Papillion. I am studying to take my exam. Your videos are great. Thanks so much

[zachonline_]

Came here to study for my PSI, left to jam out to Black Keys because the intro is pretty much I Got Mine 😂

[languagepassion-divulgata]

Just an observation. You cannot get rid of MIP unless you refinance and get rid of the FHA loan. You can get rid of PMI with an 80% loan.

[andreazimmerly]

These might be beginner questions but what exactly does guarantee the loan mean? The VA will pay 25% if you default on payment or VA pays it for you either way?
#2 What does insured and uninsured loans mean exactly? Ive always been confused on that. TY.

[WMSFLL]

I'm curious about your statement that you can have the MIP dropped from a FHA loan once the LTV reaches 80%. My exam prep instructor told me that FHA loans always require MIP, regardless of the LTV ratio.

[vraja]

And i thought the mip is for the life of the loan and conventional loan is waived after 80%

[kimberlylewis]

What if seller wants only cash offers? Would you just accept cash offers or would you advise seller of any/all offers?

[WorldWatchDaily]

I had questions on the test said: on VA loan, if VA Appraisal a home for 85.000 and listing price was 90.000, what buyer should do in this scenario? Give 5.000 as a down payment?or not able to purchase the house? It’s something like that, can you help me with this question because I think is gonna come for the next test, cus I failed

[maurahubler]

I have a question… If I get FHA loan how much will be my down payment to avoid MIP?