Real Estate/ Continuing Education/ Massachusetts/ USDA/Rural Loans

USDA/Rural Loans

$29

This product includes:

LICENSE RENEWAL PERIOD: 2 YEARS Elective Hours: 0 Mandatory Hours: 2 Total Hours: 2

Description

State Requirements

The U.S. Department of Agriculture (USDA) loan program isn’t as well known as the FHA loan, but maybe it should be.

What is the USDA loan? It’s a 15- or 30-year fixed rate loan available to low-income and moderate-income rural and suburban homebuyers. Contrary to what many assume, USDA loans aren’t just for farmers and you may be surprised at what consistutes "rural" for qualifying purposes.

As with VA loans, USDA loans are issued by approved lenders and guaranteed by the government—in this case, the Department of Agriculture.

This course offers a thorough look at the ins and outs of the USDA rural development lending program—covering everything from income eligibility to property criteria—so that licensees can help their clients understand and navigate this unique road the home ownership.

Course highlights include:

Differences between USDA guaranteed and direct loans
Income eligibility requirements and qualification ratios
Buyer safeguards, seller contributions, closing costs, funding fees, and loan assumptions
Eligible and ineligible properties and the appraisal process
Steps in processing, underwriting, and closing rural development loans
Activities and scenarios to reinforce key concepts

Package Content:

State Requirements For Massachusetts

Massachusetts State Requirement Details for Real Estate Continuing Education

Renewal Date: Every two years

Hours Required: 12 module hours

Seat Time: The Massachusetts Real Estate Commission requires that all students spend a minimum amount of seat time engaged in the course content. Our online course delivery system manages this requirement for you.

The CE Shop’s Offering: 12 module hours

The CE Shop is an approved provider in Massachusetts.

Provider Approval Number: 1274

Reporting: The state does not require schools to report course completions.

Expiration Date of Course: Course expiration dates vary by course but are generally one year after order date. Each individual course will have an expiration date listed in your account.

Final Exams: Passing a final exam is not required to receive continuing education credit in Massachusetts, therefore our system is set up so that final exams do not have a minimum passing score.

Certificates: Immediately upon real estate course completion, The CE Shop will provide students with an electronic copy of the course certificate of completion. Certificates will remain in your account for a minimum of five years, should you need additional copies at a later time. Please refer to your renewal application to determine if you need to submit your certificate(s) of completion with your renewal. Course completion dates are recorded using Central Standard Time. Please note that the date on your certificate of completion will reflect this.

License Renewal Process: The process to renew in this state is to submit your paper work via the online portal or regular mail.

Still have questions? Visit our Frequently Asked Questions or Contact Us.