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A Complete Guide to the  CalSTRS 80/17 Purchase Loan Thank You for Attending We Will Begin in a Moment Class will begin at...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul>
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Crea...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Crea...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Crea...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Crea...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul>
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Comple...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Comple...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Comple...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Comple...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Ques...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Ques...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Ques...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Ques...
A Complete Guide to the  CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Ques...
A Complete Guide to CalSTRS 80/17
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a Cali...
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund i...
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund i...
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund i...
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund i...
A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund i...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount  </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties  ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Loan Structure </li></ul><ul><li>Max 1 st  Loan Amount - 80% </...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></u...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li><...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS  80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17  - What Makes it Different </li></ul><ul><li>Cannot buy interest ...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS  80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul>
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to...
$7,500 Federal Tax Credit
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul>
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul>
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul>
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
$7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the ...
A Complete Guide to  CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul>
A Complete Guide to  CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender  that speci...
A Complete Guide to  CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender  that speci...
A Complete Guide to  CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender  that speci...
A Complete Guide to  CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender  that speci...
A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>You will receive a “Thank you” emai...
Upcoming Home Buyer Classes
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul>
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete G...
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete G...
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete G...
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete G...
Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete G...
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A Complete Guide to the CalSTRS 80/17 Purchase Loan - Updated 1-15-09

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As an employee a California Public School or Community College you may be eligible for a 3% down, No PMI purchase loan.

The CalSTRS 80/17 is hands down the most flexible purchase around with such a low down payment.

We also address the 100% financing option available to members of CalPERS and review the newly released IRS guidelines for the $7,500 federal tax credit that expires in 2009.

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Transcript of "A Complete Guide to the CalSTRS 80/17 Purchase Loan - Updated 1-15-09"

  1. 1. A Complete Guide to the CalSTRS 80/17 Purchase Loan Thank You for Attending We Will Begin in a Moment Class will begin at 7:00pm Presented By: Broadview Mortgage Corporation Presenter: Scott Schang Contact Information: Phone: 866-667-6724 [email_address]
  2. 2. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul>
  3. 3. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul>
  4. 4. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Educate you about the current California Real Estate market and Specialty Financing Options for Education Professionals </li></ul>
  5. 5. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Educate you about the current California Real Estate market and Specialty Financing Options for Education Professionals </li></ul><ul><li>Empower you with the ability to make educated decisions in the home buying process </li></ul>
  6. 6. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Educate you about the current California Real Estate market and Specialty Financing Options for Education Professionals </li></ul><ul><li>Empower you with the ability to make educated decisions in the home buying process </li></ul><ul><li>Introduce you to Broadview Mortgage Corporation as your CalSTRS 80/17 expert </li></ul>
  7. 7. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul>
  8. 8. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Complete Guide to CalSTRS 80/17 </li></ul>
  9. 9. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Complete Guide to CalSTRS 80/17 </li></ul><ul><ul><li>100% option for members of CalPERS </li></ul></ul>
  10. 10. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Complete Guide to CalSTRS 80/17 </li></ul><ul><ul><li>100% option for members of CalPERS </li></ul></ul><ul><li>IRS Guidelines for $7,500 Federal Tax Credit just released – The Details </li></ul>
  11. 11. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>A Complete Guide to CalSTRS 80/17 </li></ul><ul><ul><li>100% option for members of CalPERS </li></ul></ul><ul><li>IRS Guidelines for $7,500 Federal Tax Credit just released – The Details </li></ul><ul><li>Wrap Up and Take Aways </li></ul>
  12. 12. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Questions throughout presentation </li></ul>
  13. 13. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Questions throughout presentation </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions box on your screen </li></ul></ul>
  14. 14. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Questions throughout presentation </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions box on your screen </li></ul></ul><ul><ul><li>CalSTRS 80/17 specialists are standing by to answer your questions during the presentation </li></ul></ul>
  15. 15. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Questions throughout presentation </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions box on your screen </li></ul></ul><ul><ul><li>CalSTRS 80/17 specialists are standing by to answer your questions during the presentation </li></ul></ul><ul><ul><li>The only dumb question is the one you don’t ask </li></ul></ul>
  16. 16. A Complete Guide to the CalSTRS 80/17 Purchase Loan <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Ask Questions throughout presentation </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions box on your screen </li></ul></ul><ul><ul><li>CalSTRS 80/17 specialists are standing by to answer your questions during the presentation </li></ul></ul><ul><ul><li>The only dumb question is the one you don’t ask </li></ul></ul><ul><li>Write number down now in case you get disconnected </li></ul><ul><ul><li>1-866-667-6724 </li></ul></ul>
  17. 17. A Complete Guide to CalSTRS 80/17
  18. 18. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul>
  19. 19. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul>
  20. 20. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul>
  21. 21. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul>
  22. 22. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul><ul><ul><ul><li>Pay check stub from public school system </li></ul></ul></ul>
  23. 23. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul><ul><ul><ul><li>Pay check stub from public school system </li></ul></ul></ul><ul><ul><li>If you are eligible for CalSTRS pension benefits </li></ul></ul>
  24. 24. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul><ul><ul><ul><li>Pay check stub from public school system </li></ul></ul></ul><ul><ul><li>If you are eligible for CalSTRS pension benefits </li></ul></ul><ul><ul><ul><li>Provide certificate of eligibility </li></ul></ul></ul>
  25. 25. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul><ul><ul><ul><li>Pay check stub from public school system </li></ul></ul></ul><ul><ul><li>If you are eligible for CalSTRS pension benefits </li></ul></ul><ul><ul><ul><li>Provide certificate of eligibility </li></ul></ul></ul><ul><ul><ul><li>Do not have to be currently employed </li></ul></ul></ul>
  26. 26. A Complete Guide to CalSTRS 80/17 <ul><li>Who’s Eligible for a CalSTRS 80/17? </li></ul><ul><ul><li>Any employee of a California public school or community college </li></ul></ul><ul><ul><ul><li>Can work in any capacity </li></ul></ul></ul><ul><ul><ul><li>Can work in school district </li></ul></ul></ul><ul><ul><ul><li>Pay check stub from public school system </li></ul></ul></ul><ul><ul><li>If you are eligible for CalSTRS pension benefits </li></ul></ul><ul><ul><ul><li>Provide certificate of eligibility </li></ul></ul></ul><ul><ul><ul><li>Do not have to be currently employed </li></ul></ul></ul><ul><ul><li>Any eligible borrower makes family eligible </li></ul></ul>
  27. 27. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul>
  28. 28. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund invests in mortgage notes as mortgage backed securities </li></ul></ul>
  29. 29. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund invests in mortgage notes as mortgage backed securities </li></ul></ul><ul><ul><ul><li>CalSTRS is not a lender and does not do loans </li></ul></ul></ul>
  30. 30. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund invests in mortgage notes as mortgage backed securities </li></ul></ul><ul><ul><ul><li>CalSTRS is not a lender and does not do loans </li></ul></ul></ul><ul><ul><li>Payments go back into CalSTRS pension fund </li></ul></ul>
  31. 31. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund invests in mortgage notes as mortgage backed securities </li></ul></ul><ul><ul><ul><li>CalSTRS is not a lender and does not do loans </li></ul></ul></ul><ul><ul><li>Payments go back into CalSTRS pension fund </li></ul></ul><ul><ul><li>Contributes to the growth and stability of your retirement system as a member of CalSTRS </li></ul></ul>
  32. 32. A Complete Guide to CalSTRS 80/17 <ul><li>How CalSTRS benefits from the 80/17 </li></ul><ul><ul><li>CalSTRS pension fund invests in mortgage notes as mortgage backed securities </li></ul></ul><ul><ul><ul><li>CalSTRS is not a lender and does not do loans </li></ul></ul></ul><ul><ul><li>Payments go back into CalSTRS pension fund </li></ul></ul><ul><ul><li>Contributes to the growth and stability of your retirement system as a member of CalSTRS </li></ul></ul><ul><ul><li>Broadview Mortgage is an approved Lender on CalSTRS website - See link on site </li></ul></ul>
  33. 33. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul>
  34. 34. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul>
  35. 35. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul>
  36. 36. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul>
  37. 37. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul>
  38. 38. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul>
  39. 39. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul><ul><li>No MONTHLY Mortgage Insurance </li></ul>
  40. 40. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul><ul><li>No MONTHLY Mortgage Insurance </li></ul><ul><ul><li>FHA increased to .55% </li></ul></ul>
  41. 41. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul><ul><li>No MONTHLY Mortgage Insurance </li></ul><ul><ul><li>FHA increased to .55% </li></ul></ul><ul><li>FHA vs CalSTRS Closing Costs </li></ul>
  42. 42. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul><ul><li>No MONTHLY Mortgage Insurance </li></ul><ul><ul><li>FHA increased to .55% </li></ul></ul><ul><li>FHA vs CalSTRS Closing Costs </li></ul><ul><ul><li>FHA lower up front / CalSTRS lower total cost </li></ul></ul>
  43. 43. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>Lower Down Payment than FHA </li></ul><ul><ul><li>3.5% Down as of January 1 st , 2009 </li></ul></ul><ul><li>Interest Rates as compared to FHA </li></ul><ul><li>No UPFRONT Mortgage Insurance Premium </li></ul><ul><ul><li>FHA increased to 1.75% </li></ul></ul><ul><li>No MONTHLY Mortgage Insurance </li></ul><ul><ul><li>FHA increased to .55% </li></ul></ul><ul><li>FHA vs CalSTRS Closing Costs </li></ul><ul><ul><li>FHA lower up front / CalSTRS lower total cost </li></ul></ul><ul><li>CalSTRS - No cost to lock or rate </li></ul>
  44. 44. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul>
  45. 45. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul>
  46. 46. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul>
  47. 47. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul>
  48. 48. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul><ul><ul><li>6% seller concessions from seller </li></ul></ul>
  49. 49. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul><ul><ul><li>6% seller concessions from seller </li></ul></ul><ul><ul><li>Flexible qualifying guidelines </li></ul></ul>
  50. 50. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul><ul><ul><li>6% seller concessions from seller </li></ul></ul><ul><ul><li>Flexible qualifying guidelines </li></ul></ul><ul><ul><li>No penalty for lower credit scores </li></ul></ul>
  51. 51. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul><ul><ul><li>6% seller concessions from seller </li></ul></ul><ul><ul><li>Flexible qualifying guidelines </li></ul></ul><ul><ul><li>No penalty for lower credit scores </li></ul></ul><ul><ul><li>CalPERS members may be eligible for 100% financing using FHA 1 st mortgage </li></ul></ul>
  52. 52. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 Compared to FHA </li></ul><ul><li>FHA is a GREAT program as a Plan B </li></ul><ul><ul><li>Low down payment requirements </li></ul></ul><ul><ul><li>Low up front closing costs </li></ul></ul><ul><ul><li>Aggressive interest rates </li></ul></ul><ul><ul><li>6% seller concessions from seller </li></ul></ul><ul><ul><li>Flexible qualifying guidelines </li></ul></ul><ul><ul><li>No penalty for lower credit scores </li></ul></ul><ul><ul><li>CalPERS members may be eligible for 100% financing using FHA 1 st mortgage </li></ul></ul><ul><li>If you are eligible and qualify for the CalSTRS 80/17 there is simply no comparison. Period </li></ul>
  53. 53. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul>
  54. 54. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul>
  55. 55. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul>
  56. 56. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul>
  57. 57. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul>
  58. 58. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul>
  59. 59. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul><ul><ul><li>Up to $536,082 </li></ul></ul>
  60. 60. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul><ul><ul><li>Up to $536,082 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul>
  61. 61. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul><ul><ul><li>Up to $536,082 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><ul><li>Max total loan amounts $650,000 </li></ul></ul></ul>
  62. 62. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul><ul><ul><li>Up to $536,082 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><ul><li>Max total loan amounts $650,000 </li></ul></ul></ul><ul><ul><li>Up to $670,103 Max Purchase Price </li></ul></ul>
  63. 63. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Max Loan Amounts </li></ul><ul><li>Conforming Loan Amount </li></ul><ul><ul><li>Up to $417,000 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><li>$521,250 Max Purchase Price </li></ul></ul><ul><li>Jumbo Loan Amount </li></ul><ul><ul><li>Up to $536,082 </li></ul></ul><ul><ul><ul><li>First mortgage loan amount </li></ul></ul></ul><ul><ul><ul><li>Max total loan amounts $650,000 </li></ul></ul></ul><ul><ul><li>Up to $670,103 Max Purchase Price </li></ul></ul><ul><li>Jumbo interest rate is typically 1% higher </li></ul>
  64. 64. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul>
  65. 65. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul>
  66. 66. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul>
  67. 67. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul>
  68. 68. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul><ul><ul><li>Planned Urban Development (PUD) </li></ul></ul>
  69. 69. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul><ul><ul><li>Planned Urban Development (PUD) </li></ul></ul><ul><li>Must be owner Occupied </li></ul>
  70. 70. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul><ul><ul><li>Planned Urban Development (PUD) </li></ul></ul><ul><li>Must be owner Occupied </li></ul><ul><li>Must be located in State of California </li></ul>
  71. 71. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul><ul><ul><li>Planned Urban Development (PUD) </li></ul></ul><ul><li>Must be owner Occupied </li></ul><ul><li>Must be located in State of California </li></ul><ul><li>Cannot own any other properties </li></ul>
  72. 72. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Property Qualifications </li></ul><ul><li>Eligible Properties </li></ul><ul><ul><li>Single Family Residence - Detached </li></ul></ul><ul><ul><li>Condominiums / Townhomes - Attached </li></ul></ul><ul><ul><li>Planned Urban Development (PUD) </li></ul></ul><ul><li>Must be owner Occupied </li></ul><ul><li>Must be located in State of California </li></ul><ul><li>Cannot own any other properties </li></ul><ul><ul><li>Mobile home not on a permanent foundation and on leased lot/park is not considered real property </li></ul></ul>
  73. 73. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul>
  74. 74. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul>
  75. 75. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul>
  76. 76. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul>
  77. 77. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul><ul><li>Max 2 nd Loan Amount - 17% </li></ul>
  78. 78. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul><ul><li>Max 2 nd Loan Amount - 17% </li></ul><ul><ul><li>No payments for first 5 years </li></ul></ul>
  79. 79. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul><ul><li>Max 2 nd Loan Amount - 17% </li></ul><ul><ul><li>No payments for first 5 years </li></ul></ul><ul><li>30 Year fixed rate loan only </li></ul>
  80. 80. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul><ul><li>Max 2 nd Loan Amount - 17% </li></ul><ul><ul><li>No payments for first 5 years </li></ul></ul><ul><li>30 Year fixed rate loan only </li></ul><ul><li>Same interest rate for both loans </li></ul>
  81. 81. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Loan Structure </li></ul><ul><li>Max 1 st Loan Amount - 80% </li></ul><ul><ul><li>Qualify on 80% Only </li></ul></ul><ul><ul><li>Increases your purchasing power </li></ul></ul><ul><li>Max 2 nd Loan Amount - 17% </li></ul><ul><ul><li>No payments for first 5 years </li></ul></ul><ul><li>30 Year fixed rate loan only </li></ul><ul><li>Same interest rate for both loans </li></ul><ul><li>One time free float down – both loans </li></ul>
  82. 82. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul>
  83. 83. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul>
  84. 84. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul>
  85. 85. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul><ul><ul><li>Simple interest accrues for deferred period </li></ul></ul>
  86. 86. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul><ul><ul><li>Simple interest accrues for deferred period </li></ul></ul><ul><ul><li>Accrued interest added to principle balance </li></ul></ul>
  87. 87. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul><ul><ul><li>Simple interest accrues for deferred period </li></ul></ul><ul><ul><li>Accrued interest added to principle balance </li></ul></ul><ul><ul><li>Fully amortized over remaining 300 months </li></ul></ul>
  88. 88. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul><ul><ul><li>Simple interest accrues for deferred period </li></ul></ul><ul><ul><li>Accrued interest added to principle balance </li></ul></ul><ul><ul><li>Fully amortized over remaining 300 months </li></ul></ul><ul><li>No surprises guarantee - You will know exactly what your payments will be </li></ul>
  89. 89. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Second Mortgage </li></ul><ul><li>Second Mortgage Loan </li></ul><ul><ul><li>Deferred payments for 5 Years </li></ul></ul><ul><ul><li>Simple interest accrues for deferred period </li></ul></ul><ul><ul><li>Accrued interest added to principle balance </li></ul></ul><ul><ul><li>Fully amortized over remaining 300 months </li></ul></ul><ul><li>No surprises guarantee - You will know exactly what your payments will be </li></ul><ul><ul><li>Although you qualify on first mortgage only, we will always send you a good faith estimate with total payment </li></ul></ul>
  90. 90. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul>
  91. 91. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul>
  92. 92. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul>
  93. 93. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul>
  94. 94. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul>
  95. 95. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul><ul><ul><li>Down Payment - Gift from relative </li></ul></ul>
  96. 96. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul><ul><ul><li>Down Payment - Gift from relative </li></ul></ul><ul><ul><li>Down Payment – Grant from government agency </li></ul></ul>
  97. 97. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul><ul><ul><li>Down Payment - Gift from relative </li></ul></ul><ul><ul><li>Down Payment – Grant from government agency </li></ul></ul><ul><ul><li>Closing Costs - Seller contributions up to 3% </li></ul></ul>
  98. 98. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul><ul><ul><li>Down Payment - Gift from relative </li></ul></ul><ul><ul><li>Down Payment – Grant from government agency </li></ul></ul><ul><ul><li>Closing Costs - Seller contributions up to 3% </li></ul></ul><ul><ul><li>Closing Costs - Borrower's own funds </li></ul></ul>
  99. 99. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Down Payment </li></ul><ul><li>Down payment requirements </li></ul><ul><ul><li>3% down payment </li></ul></ul><ul><ul><li>1% from buyer’s own funds </li></ul></ul><ul><li>Sources of Down Payment and Closing Costs </li></ul><ul><ul><li>Down Payment - Borrower's own funds </li></ul></ul><ul><ul><li>Down Payment - Gift from relative </li></ul></ul><ul><ul><li>Down Payment – Grant from government agency </li></ul></ul><ul><ul><li>Closing Costs - Seller contributions up to 3% </li></ul></ul><ul><ul><li>Closing Costs - Borrower's own funds </li></ul></ul><ul><ul><li>Closing Costs - Gift from relative </li></ul></ul>
  100. 100. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul>
  101. 101. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul>
  102. 102. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul>
  103. 103. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul>
  104. 104. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul>
  105. 105. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul>
  106. 106. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul>
  107. 107. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul><ul><ul><ul><li>Not borrowed from PERS account </li></ul></ul></ul>
  108. 108. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul><ul><ul><ul><li>Not borrowed from PERS account </li></ul></ul></ul><ul><ul><li>Minimum loan term is 1 year / Max is 15 years </li></ul></ul>
  109. 109. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul><ul><ul><ul><li>Not borrowed from PERS account </li></ul></ul></ul><ul><ul><li>Minimum loan term is 1 year / Max is 15 years </li></ul></ul><ul><ul><li>Must be primary residence </li></ul></ul>
  110. 110. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul><ul><ul><ul><li>Not borrowed from PERS account </li></ul></ul></ul><ul><ul><li>Minimum loan term is 1 year / Max is 15 years </li></ul></ul><ul><ul><li>Must be primary residence </li></ul></ul><ul><ul><li>Can be used toward down payment only </li></ul></ul>
  111. 111. A Complete Guide to CalSTRS 80/17 <ul><li>Additional Low and No Down Payment Options for CalPERS Members </li></ul><ul><ul><li>Use FHA 1 st to 96.5% LTV with personal loan </li></ul></ul><ul><ul><li>Maximum purchase price $350,000 </li></ul></ul><ul><ul><li>Can borrow up to 5% of value of home </li></ul></ul><ul><ul><li>Up to 50% of Member’s current contribution </li></ul></ul><ul><ul><ul><li>Maximum $18,421 </li></ul></ul></ul><ul><ul><li>Personal loan secured by PERS </li></ul></ul><ul><ul><ul><li>Not borrowed from PERS account </li></ul></ul></ul><ul><ul><li>Minimum loan term is 1 year / Max is 15 years </li></ul></ul><ul><ul><li>Must be primary residence </li></ul></ul><ul><ul><li>Can be used toward down payment only </li></ul></ul><ul><ul><li>Attend 100% Financing for CalPERS class </li></ul></ul>
  112. 112. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul>
  113. 113. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul>
  114. 114. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul>
  115. 115. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul>
  116. 116. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul>
  117. 117. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul>
  118. 118. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul><ul><ul><li>680 for Loan Amounts up to $650,000 </li></ul></ul>
  119. 119. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul><ul><ul><li>680 for Loan Amounts up to $650,000 </li></ul></ul><ul><ul><ul><li>Combined 1 st & 2 nd Loans </li></ul></ul></ul>
  120. 120. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul><ul><ul><li>680 for Loan Amounts up to $650,000 </li></ul></ul><ul><ul><ul><li>Combined 1 st & 2 nd Loans </li></ul></ul></ul><ul><li>Interest Rate lock requires Property Address </li></ul>
  121. 121. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul><ul><ul><li>680 for Loan Amounts up to $650,000 </li></ul></ul><ul><ul><ul><li>Combined 1 st & 2 nd Loans </li></ul></ul></ul><ul><li>Interest Rate lock requires Property Address </li></ul><ul><ul><li>Typically rate is locked when offer is accepted </li></ul></ul>
  122. 122. A Complete Guide to CalSTRS 80/17 <ul><li>Other CalSTRS 80/17 Highlights </li></ul><ul><li>No Income limits </li></ul><ul><li>You do not have to be a first time homebuyer </li></ul><ul><li>You cannot own any other properties </li></ul><ul><li>Minimum FICO Scores </li></ul><ul><ul><li>620 for Loan Amounts up to $400,000 </li></ul></ul><ul><ul><li>680 for Loan Amounts up to $650,000 </li></ul></ul><ul><ul><ul><li>Combined 1 st & 2 nd Loans </li></ul></ul></ul><ul><li>Interest Rate lock requires Property Address </li></ul><ul><ul><li>Typically rate is locked when offer is accepted </li></ul></ul><ul><li>If offer falls out – Rate lock is lost as well </li></ul>
  123. 123. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul>
  124. 124. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul>
  125. 125. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul>
  126. 126. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul>
  127. 127. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul>
  128. 128. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul><ul><ul><li>Declining Market - .25% </li></ul></ul>
  129. 129. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul><ul><ul><li>Declining Market - .25% </li></ul></ul><ul><ul><li>High LTV Flex 97 - .5% </li></ul></ul>
  130. 130. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul><ul><ul><li>Declining Market - .25% </li></ul></ul><ul><ul><li>High LTV Flex 97 - .5% </li></ul></ul><ul><ul><li>Risk based credit score pricing </li></ul></ul>
  131. 131. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul><ul><ul><li>Declining Market - .25% </li></ul></ul><ul><ul><li>High LTV Flex 97 - .5% </li></ul></ul><ul><ul><li>Risk based credit score pricing </li></ul></ul><ul><ul><ul><li>None at 740 FICO </li></ul></ul></ul>
  132. 132. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 - What Makes it Different </li></ul><ul><li>Cannot buy interest rate down </li></ul><ul><ul><li>Below market / Set by CalSTRS </li></ul></ul><ul><li>Cannot “roll in” closing costs into rate </li></ul><ul><li>Fannie Mae – Pricing Adjustments </li></ul><ul><ul><li>Declining Market - .25% </li></ul></ul><ul><ul><li>High LTV Flex 97 - .5% </li></ul></ul><ul><ul><li>Risk based credit score pricing </li></ul></ul><ul><ul><ul><li>None at 740 FICO </li></ul></ul></ul><ul><li>Much lower cost than FHA but may require more money brought to the closing table </li></ul>
  133. 133. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul>
  134. 134. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul>
  135. 135. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul>
  136. 136. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul>
  137. 137. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul>
  138. 138. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul>
  139. 139. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul><ul><ul><li>No income or first time home buyer limits </li></ul></ul>
  140. 140. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul><ul><ul><li>No income or first time home buyer limits </li></ul></ul><ul><ul><li>Up to 3% seller concessions for closing costs </li></ul></ul>
  141. 141. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul><ul><ul><li>No income or first time home buyer limits </li></ul></ul><ul><ul><li>Up to 3% seller concessions for closing costs </li></ul></ul><ul><ul><li>Rates set by CalSTRS </li></ul></ul>
  142. 142. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul><ul><ul><li>No income or first time home buyer limits </li></ul></ul><ul><ul><li>Up to 3% seller concessions for closing costs </li></ul></ul><ul><ul><li>Rates set by CalSTRS </li></ul></ul><ul><ul><li>One time Free float down </li></ul></ul>
  143. 143. A Complete Guide to CalSTRS 80/17 <ul><li>CalSTRS 80/17 – Review </li></ul><ul><ul><li>Only 3% down payment required </li></ul></ul><ul><ul><li>No upfront mortgage insurance premium </li></ul></ul><ul><ul><li>No monthly mortgage insurance premium </li></ul></ul><ul><ul><li>Qualify for 80% first mortgage only </li></ul></ul><ul><ul><li>17% second mortgage deferred for 5 years </li></ul></ul><ul><ul><li>No income or first time home buyer limits </li></ul></ul><ul><ul><li>Up to 3% seller concessions for closing costs </li></ul></ul><ul><ul><li>Rates set by CalSTRS </li></ul></ul><ul><ul><li>One time Free float down </li></ul></ul><ul><ul><li>Interest rate can be locked once offer accepted </li></ul></ul>
  144. 144. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul>
  145. 145. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul>
  146. 146. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul>
  147. 147. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul>
  148. 148. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul>
  149. 149. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul>
  150. 150. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul>
  151. 151. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul><ul><ul><ul><li>FHA is presented as an option/solution </li></ul></ul></ul>
  152. 152. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul><ul><ul><ul><li>FHA is presented as an option/solution </li></ul></ul></ul><ul><ul><ul><ul><li>Underwriting guidelines changed </li></ul></ul></ul></ul>
  153. 153. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul><ul><ul><ul><li>FHA is presented as an option/solution </li></ul></ul></ul><ul><ul><ul><ul><li>Underwriting guidelines changed </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Approval can not be changed if locked </li></ul></ul></ul></ul>
  154. 154. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul><ul><ul><ul><li>FHA is presented as an option/solution </li></ul></ul></ul><ul><ul><ul><ul><li>Underwriting guidelines changed </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Approval can not be changed if locked </li></ul></ul></ul></ul><ul><li>CalSTRS loans can close in weeks – Call us! </li></ul>
  155. 155. A Complete Guide to CalSTRS 80/17 <ul><li>Bait and Switch “Red Flags” </li></ul><ul><ul><li>Community programs designed to benefit specific members of the education community </li></ul></ul><ul><ul><li>CalSTRS loans have fixed rates and fees </li></ul></ul><ul><ul><ul><li>Buyer Benefit - Lenders can’t charge more </li></ul></ul></ul><ul><ul><li>What to watch out for…… </li></ul></ul><ul><ul><ul><li>Agent recommends lender but not program </li></ul></ul></ul><ul><ul><ul><li>Lender isn’t CalSTRS 80/17 Expert </li></ul></ul></ul><ul><ul><ul><li>FHA is presented as an option/solution </li></ul></ul></ul><ul><ul><ul><ul><li>Underwriting guidelines changed </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Approval can not be changed if locked </li></ul></ul></ul></ul><ul><li>CalSTRS loans can close in weeks – Call us! </li></ul><ul><ul><li>Escrow can often be delayed without penalty </li></ul></ul>
  156. 156. $7,500 Federal Tax Credit
  157. 157. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul>
  158. 158. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul>
  159. 159. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul>
  160. 160. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul>
  161. 161. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul><ul><li>Must be first time home buyer </li></ul>
  162. 162. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul><ul><li>Must be first time home buyer </li></ul><ul><ul><li>Can not have owned in past 3 years </li></ul></ul>
  163. 163. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul><ul><li>Must be first time home buyer </li></ul><ul><ul><li>Can not have owned in past 3 years </li></ul></ul><ul><li>10% of purchase price up $7,500 </li></ul>
  164. 164. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul><ul><li>Must be first time home buyer </li></ul><ul><ul><li>Can not have owned in past 3 years </li></ul></ul><ul><li>10% of purchase price up $7,500 </li></ul><ul><li>$7,500 - Married filing joint or Single taxpayer </li></ul>
  165. 165. $7,500 Federal Tax Credit <ul><li>No-interest loan paid back over 15 years </li></ul><ul><ul><li>Begin paying back 2 years after claim </li></ul></ul><ul><li>Must purchase on or before July 1 st , 2009 </li></ul><ul><ul><li>Between April 8th, 2008 and July 1 st , 2009 </li></ul></ul><ul><li>Must be first time home buyer </li></ul><ul><ul><li>Can not have owned in past 3 years </li></ul></ul><ul><li>10% of purchase price up $7,500 </li></ul><ul><li>$7,500 - Married filing joint or Single taxpayer </li></ul><ul><li>Married filing separate $3,750 </li></ul>
  166. 166. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul>
  167. 167. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul>
  168. 168. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul>
  169. 169. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul>
  170. 170. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul><ul><li>Income limit is $75,000 for single taxpayer </li></ul>
  171. 171. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul><ul><li>Income limit is $75,000 for single taxpayer </li></ul><ul><ul><li>Phase out maximum is $95,000 </li></ul></ul>
  172. 172. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul><ul><li>Income limit is $75,000 for single taxpayer </li></ul><ul><ul><li>Phase out maximum is $95,000 </li></ul></ul><ul><li>Loan is paid back in 15 equal installments </li></ul>
  173. 173. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul><ul><li>Income limit is $75,000 for single taxpayer </li></ul><ul><ul><li>Phase out maximum is $95,000 </li></ul></ul><ul><li>Loan is paid back in 15 equal installments </li></ul><ul><ul><li>Deducted from refund on future returns </li></ul></ul>
  174. 174. $7,500 Federal Tax Credit <ul><li>Home bought in 2008 can be claimed on 2008 returns </li></ul><ul><li>Home bought in 2009 can be claimed on 2008 (or amended 2008) return </li></ul><ul><li>Income limit is $150,000 for married couple </li></ul><ul><ul><li>Phase out maximum is $170,000 </li></ul></ul><ul><li>Income limit is $75,000 for single taxpayer </li></ul><ul><ul><li>Phase out maximum is $95,000 </li></ul></ul><ul><li>Loan is paid back in 15 equal installments </li></ul><ul><ul><li>Deducted from refund on future returns </li></ul></ul><ul><ul><li>Added to tax liability on future returns </li></ul></ul>
  175. 175. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul>
  176. 176. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul>
  177. 177. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul>
  178. 178. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul><ul><ul><li>You stop using your home as your main home </li></ul></ul>
  179. 179. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul><ul><ul><li>You stop using your home as your main home </li></ul></ul><ul><ul><li>You sell your home before the end of the year </li></ul></ul>
  180. 180. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul><ul><ul><li>You stop using your home as your main home </li></ul></ul><ul><ul><li>You sell your home before the end of the year </li></ul></ul><ul><ul><li>You are a nonresident alien </li></ul></ul>
  181. 181. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul><ul><ul><li>You stop using your home as your main home </li></ul></ul><ul><ul><li>You sell your home before the end of the year </li></ul></ul><ul><ul><li>You are a nonresident alien </li></ul></ul><ul><ul><li>Your home financing comes from tax-exempt mortgage revenue bonds - CalHFA </li></ul></ul>
  182. 182. $7,500 Federal Tax Credit <ul><li>You would be ineligible for Tax Credit if: </li></ul><ul><ul><li>Your income exceed the phase-out range </li></ul></ul><ul><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild </li></ul></ul><ul><ul><li>You stop using your home as your main home </li></ul></ul><ul><ul><li>You sell your home before the end of the year </li></ul></ul><ul><ul><li>You are a nonresident alien </li></ul></ul><ul><ul><li>Your home financing comes from tax-exempt mortgage revenue bonds - CalHFA </li></ul></ul><ul><ul><li>You owned another main at any time during the three years prior to the date of purchase </li></ul></ul>
  183. 183. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul>
  184. 184. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender that specializes in CalSTRS, CalPERS, CalHFA, VA, Conventional and Jumbo Loans </li></ul></ul>
  185. 185. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender that specializes in CalSTRS, CalPERS, CalHFA, VA, Conventional and Jumbo Loans </li></ul></ul><ul><ul><li>We are a direct Lender that specializes in FHA Refinance, Streamline and Purchase loans. </li></ul></ul>
  186. 186. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender that specializes in CalSTRS, CalPERS, CalHFA, VA, Conventional and Jumbo Loans </li></ul></ul><ul><ul><li>We are a direct Lender that specializes in FHA Refinance, Streamline and Purchase loans. </li></ul></ul><ul><ul><li>We are more than happy to be your “second opinion” if you are already working with someone </li></ul></ul>
  187. 187. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>We are a direct Lender that specializes in CalSTRS, CalPERS, CalHFA, VA, Conventional and Jumbo Loans </li></ul></ul><ul><ul><li>We are a direct Lender that specializes in FHA Refinance, Streamline and Purchase loans. </li></ul></ul><ul><ul><li>We are more than happy to be your “second opinion” if you are already working with someone </li></ul></ul><ul><ul><li>We are committed to educating and empowering homeowners - Join us for future classes </li></ul></ul>
  188. 188. A Complete Guide to CalSTRS 80/17 <ul><li>Wrap up and Take Aways </li></ul><ul><ul><li>You will receive a “Thank you” email with links to the information we’ve talked about here today </li></ul></ul><ul><ul><ul><li>Copy of power point presentation </li></ul></ul></ul><ul><ul><ul><li>Secure on-line loan application </li></ul></ul></ul><ul><ul><ul><li>Links to tools and resources we talk about in all of our classes </li></ul></ul></ul><ul><ul><ul><li>Link to CalSTRS website to follow rates </li></ul></ul></ul><ul><ul><ul><li>Dream Home Finder request </li></ul></ul></ul><ul><ul><ul><li>A schedule of all upcoming classes </li></ul></ul></ul>
  189. 189. Upcoming Home Buyer Classes
  190. 190. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul>
  191. 191. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul>
  192. 192. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul><ul><li>A Complete Guide to the CalSTRS 80/17 Home Purchase Program </li></ul>
  193. 193. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul><ul><li>A Complete Guide to the CalSTRS 80/17 Home Purchase Program </li></ul><ul><li>A First Time Home buyer’s Complete Guide to Credit and Qualifying </li></ul>
  194. 194. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul><ul><li>A Complete Guide to the CalSTRS 80/17 Home Purchase Program </li></ul><ul><li>A First Time Home buyer’s Complete Guide to Credit and Qualifying </li></ul><ul><li>A Complete Guide to the CalPERS Home Loan Program – No down option </li></ul>
  195. 195. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul><ul><li>A Complete Guide to the CalSTRS 80/17 Home Purchase Program </li></ul><ul><li>A First Time Home buyer’s Complete Guide to Credit and Qualifying </li></ul><ul><li>A Complete Guide to the CalPERS Home Loan Program – No down option </li></ul><ul><li>A First Time Home Buyer’s Complete Guide to Hiring a Real Estate Agent and Finding the Best Deals </li></ul>
  196. 196. Upcoming Home Buyer Classes <ul><li>A Complete Guide to Buying Foreclosures and Short Sales </li></ul><ul><li>A Complete Guide to Closing Costs and the Good Faith Estimate </li></ul><ul><li>A Complete Guide to the CalSTRS 80/17 Home Purchase Program </li></ul><ul><li>A First Time Home buyer’s Complete Guide to Credit and Qualifying </li></ul><ul><li>A Complete Guide to the CalPERS Home Loan Program – No down option </li></ul><ul><li>A First Time Home Buyer’s Complete Guide to Hiring a Real Estate Agent and Finding the Best Deals </li></ul><ul><li>Check back often for upcoming classes </li></ul>
  197. 197. Thank you for Attending You input is Valuable Please complete 2 question survey when you log off Presented By: Broadview Mortgage Corp. Presenter: Scott Schang Contact Information: Phone: 866-667-6724 [email_address]
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