Real Estate & Property
Mortgage Refinancing Math: Break-Even, Points, Cash-Out & ARMs
IntermediateCertificate$9.99
Mortgage & Loan Underwriting Math
Work through one home loan file: payment and amortization, PITI, LTV, mortgage insurance, qualifying income, DTI, APR and points, and a refinance check, with every cell checked as you go. Educational only, not financial advice.
- One-time payment
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What you'll build
What you will be able to do
Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.
- Size the Hallbergs' monthly payment, see what the loan costs in interest and build the first six rows of the amortization schedule.
- Turn the Hallbergs' P&I into the full monthly housing payment and rerun the escrow after taxes and insurance go up.
- Measure the Hallbergs' loan against the home's value, size a first-plus-second-mortgage alternative and check the combined LTV of a later credit line.
- Price the mortgage insurance on the Hallbergs' 91 % loan and find the payment number when it can be dropped.
- Turn Maya's biweekly pay stub and Tom's hourly pay and overtime into the monthly income an underwriter would use.
- Test the Hallbergs' file against front-end and back-end limits and work back to the largest loan they qualify for.
- Compare a no-points offer with a buy-down offer by APR and work out how long the Hallbergs must keep the loan for the point to pay off.
- Test whether refinancing the Hallbergs' loan at a lower rate pays off, in monthly cash and over the life of the loan.
About this course
Mortgage approval comes down to a few ratios, and this course teaches you to calculate them the way an underwriter does. You start with the monthly payment and amortisation, then add taxes and insurance to get PITI and an escrow account. Loan-to-value and combined loan-to-value lead to the question of mortgage insurance above 80 percent. You derive qualifying income from pay stubs, compute debt-to-income and solve for the maximum loan an applicant can carry. The APR lab compares the note rate with points and their break-even, and a final refinance analysis looks at payments, costs and break-even. Suitable for loan officer trainees, processors, real estate professionals and buyers. Illustrative guidelines only.
Curriculum
Course content
8 lessons · 8 labs · 1.9 h · final exam
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Unlocked when you buy the course
- Final exam
Certificate
Finish with a certificate you can verify
Complete every lesson and pass the final exam to receive a certificate of completion for this course, with a unique credential ID and a public verification page.
- Names the course, your score and the date of issue
- A verification link for your CV or LinkedIn profile
- 12 questions, 75% to pass, unlimited retries.
A Tutorvo certificate confirms that you completed a course. It is not an official or professional qualification.
Before you buy
Questions about this course
Is this a subscription?
No. You pay $9.99 once for this course. There is no subscription and nothing renews automatically. Prices are in US dollars; taxes may be added where required.
What exactly do I get?
All lessons and labs of this course, the final exam and the certificate, including later updates to the course, for as long as Tutorvo offers it. Access is personal and tied to your account.
Can I get a refund?
Yes. If you are not satisfied, email hello@tutorvo.com within 14 days of buying and we refund the course in full via Stripe. The guarantee does not apply once a certificate for the course has been issued to you, or where there are signs of abuse.
When can I start?
Right after payment. Access starts immediately at your request; for consumers in the EU/EEA the statutory right of withdrawal therefore ends once access has begun, while our 14-day money-back guarantee applies regardless.
Do I need Excel or other software?
No. The labs run in a spreadsheet inside your browser on a laptop, tablet or phone. Function names and syntax follow Excel.
Is the certificate an official qualification?
No. It confirms that you completed all lessons of the course and passed its final exam. It is not an official, state-recognised or professional qualification. The name is taken from your profile when the certificate is issued.
Full details are in our Terms · hello@tutorvo.com
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