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Homebuying seminar for realtors to use

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Hey guys!! This is the power point I promised you in class....use and enjoy!

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Homebuying seminar for realtors to use

  1. 1. Homebuying Seminar<br />
  2. 2. HUD “Best Practices” Award<br />This presentation has stood the test of time and guided many families in their path to homeownership. My sincere hope is that it will give each viewer the straight forward information needed to help make the Right decision for their family.<br />Patti E. Ketcham, PKetcham@KetchamGroup.com<br />Thank You<br />
  3. 3. Why own a home? <br />It is often cheaper to own than rent!<br />Forced savings<br />Stop making someone else’s mortgage payments<br />There is a last payment <br />
  4. 4. Steps to Successful Home Ownership…First Step:<br />How to slay the Credit and Money Dragon…Get Pre-Approved!!!<br />
  5. 5. Steps to Successful Home Ownership cont'd.<br />What is a credit score<br />
  6. 6. Steps to Successful Home Ownership cont'd.<br /> What your Lender needs:<br /> Income: W-2’s and Tax Returns<br /> Any bank statements<br /> What you owe: revolving/installment<br />
  7. 7. Next Step: Choosing a Realtor<br />Role of the Realtor<br />How to pick one/ How to get rid of one<br />
  8. 8. How Realtors Are Paid<br /> Sales Price: $100,000.00 <br />x 6% commission(often paid by seller)<br /> = $6,000<br />Listing Office - $3,000 Selling Office - $3,000<br />Then<br />Listing Realtor - $1,500 Selling Realtor $1,500<br /> This is an example, all services and fees are negotiable.<br />
  9. 9. Next Step: Choosing a Home <br />The Home—lots of choices!!!!<br />You will know<br />Resources: Police/Sheriff’s Dept<br />Utilities<br />Meagan’s Law Web Site<br />
  10. 10. Making an Offer<br />Why that Pre-Approval Letter is so GREAT<br />What is covered in a Contract<br />What is a binder/escrow/good faith deposit and what happens to it<br />
  11. 11. Making an Offer cont’d.<br />Buyer’s remorse<br />DEADLINES<br />Back to the lender<br />Completing the loan application <br />
  12. 12. Buying a Home<br />How Much Will All This Cost?<br />Who Is Involved In All This and What Do They Do?<br />
  13. 13. Who’s Involved In the Process and What They Do<br />Realtor: Searches for home, negotiates contract for purchase, assists in entire process, attends closing, provides guidance<br />You pick!<br />
  14. 14. Who’s Involved In the Process and What They Do<br />Mortgage Loan Officer: Credit approval, loan application, will guide you through the financing process<br />You pick!<br />
  15. 15. Who’s Involved In the Process and What They Do<br />Home Inspector: Inspects home for any structural or maintenance concerns<br />You pick!<br />
  16. 16. Who’s Involved In the Process and What They Do<br />Appraiser: Estimates value of home<br />Lender picks<br />
  17. 17. Who’s Involved In the Process and What They Do<br />Termite Inspector: Checks for any wood destroying organisms<br />Buyer or Seller picks<br />
  18. 18. Who’s Involved In the Process and What They Do<br />Surveyor: Marks the four corners of the lot and draws house placement on lot<br />Buyer or Seller picks<br />
  19. 19. Who’s Involved In the Process and What They Do<br />Home Owners Insurance Agent: Insure home against loss from fire, etc.<br />You pick<br />
  20. 20. Who’s Involved In the Process and What They Do<br />Closing Agent/Attorney: Provides proof of clear title to home and closes loan<br />Buyer or Seller picks<br />
  21. 21. “The Closing”<br />Closing the Loan<br />Closing: What is it? What happens? So when do I get the keys?<br />
  22. 22. HELPFUL RESOURCES<br />Here is a listing of resources clients have found helpful for a variety of purposes. <br />STOP ANNOYING PHONE CALLS<br />Department of Agriculture and Consumer Service<br />1-800-435-7352 or www.800helpfla.com<br />The National Do Not Call Registry<br />1-888-382-1222 or www.donotcall.gov<br />
  23. 23. THE MEGAN'S LAW WEBSITE: WHO ARE YOUR NEIGHBORS?<br />www .fdle.state.fl.us<br />CRIME STATISTIC'S FOR A NEIGHBORHOOD<br />Sheriff's Department<br />Police Department<br />
  24. 24. ADDITIONAL RESOURCES<br /> Consumer Credit Counseling:<br /> excellent resource for people who have become overloaded with debt.<br />
  25. 25. Equifax Credit: 1-800-685-1111<br />Trans Union: 1-800-916-8800<br />Experian: 1-888-397-3742<br />CREDIT REPORTING AGENCIES:<br />
  26. 26. Credit Bureau Opt-Outs: 1-888-567-8688 <br />If you wish to limit the number of pre-approved credit solicitations that you receive you may contact the National Opt-Out Center to have your name removed for two years from all of the major credit bureau mailing lists.<br />Stop Unsolicited Mailed Credit Offers:<br />
  27. 27. Thank You for Your Time and Attention<br />Any Questions?<br />
  28. 28. Good Tools for Realtors::::::<br />Lots and lots and lots of good stuff!!!<br />The next several slides are resources gathered by Florida Realtors.<br />Thank You!!!!<br />
  29. 29. TOOL TIME!<br />FAR HOME BUYER CENTER<br />http://www.floridarealtors.org/AboutFar/homebuyercenter/index.cfm<br />
  30. 30. Florida Realtors<br />Florida Realtors® ‘Support Homeownership for All’<br />Over the past two years, the state association received $280,000 in Ira Gribin grant funds from the National Association of Realtors to support workforce housing programs. In coordination with its nearly one dozen partners in the Sadowski Coalition, Florida<br />Realtors works to educate Florida legislators about the long-term value of supporting workforce housing. Through the program, funding also goes to local Realtor associations to assist first-time and low-income homebuyers in ways best defined by local conditions. <br />Eleven local associations have received part of the NAR grant funding; the remaining funds will be used for a radio ad campaign promoting Florida Welcome Home Week –<br />Homes for Hometown Heroes, July 11-17, 2010.<br />
  31. 31. Florida Realtors<br />License Plate<br />Proceeds from the sale of the state’s Support Homeownership for All license plate supports housing programs; a number of housing foundations in Florida have received funding to further develop their workforce housing initiatives. The goal is to provide<br />housing assistance to teachers, nurses and others unable to afford a home. As of June 1, 2010, more than 8,471 license plates have been sold, totaling more than $211,775.<br />http://www.floridarealtors.org/LegislativeCenter/LegislativeNews/Homeownership-For-All-license-plate.cfm<br />
  32. 32. Tallahassee Lenders ******Consortium**********<br />www.TallahasseeLenders.org<br />850-222-6609 <br />
  33. 33. Local Assistance Resources<br />South Florida Community Development Coalition<br />http://www.floridacdc.org/index.html<br />Miami-Dade’s Housing Finance Authority<br />http://www.miamidade.gov/hfa/<br />Neighborhood Stabilization Program, homebuyer assistance, Pasco County<br />http://portal.pascocountyfl.net/portal/server.pt/community/neighborhood_stabilization_program/303/neighborhood_stabilization_program<br />Neighborhood Stabilization Program, City of Palm Coast<br />http://www.ci.palmcoast<br />
  34. 34. Local Assistance Resources<br />The Realtors Association of St. Lucie Foundation Inc.’s Attainable Housing Fund<br />http://www.rasl.com/<br />Daytona Beach Area Association of Realtors, area affordable housing programs - Under search listings on home page, click on Housing Opportunities:<br />http://www.daytonarealtors.com/<br />Greater Tampa Association of Realtors, Realtors Care Foundation<br />Formed to create and provide educational and housing programs and services.<br />http://www.realtorscareofgtar.org/<br />
  35. 35. Local Assistance Resources<br />Hernando County Association of Realtors<br />Hernando County down payment assistance program info:<br />http://www.hernandorealtors.com/template39/nextpage.asp?mnu=187957<br />Orlando Regional Realtor Association<br />Art in Architecture program: http://www.artinarchitecture.org/<br />Central Florida affordable housing program info: http://www.artinarchitecture.org/6.asp<br />Pinellas Suncoast Association of Realtors, Pinellas Realtor Foundation<br />Provides funds, volunteers to support affordable/workforce housing, education and other community issues.<br />http://tampabayrealtor.com/index.php?option=com_content&task=view&id=71&Itemid=83<br />
  36. 36. Realtor Association of Greater Fort Lauderdale, Charitable Foundation<br />Formed to help those with specific needs that cannot be met by any other source.<br />http://www.realtorcharitablefoundation.com/<br />Broward Housing Partnership: http://www.browardhousingpartnership.org/<br />Realtor Association of Greater Fort Myers and the Beach Inc.<br />Offers “gap” funding assistance to essential workers in the Greater Fort Myers area so that they can purchase a home in the community they serve.<br />http://www.snoopzone.info/affordableHousing.php<br />Local Assistance Resources<br />
  37. 37. Realtor Association of Martin County, Partner Charity, Habitat for Humanity of Martin County<br />http://www.ramconline.org/AM/Template.cfm?Section=Habitat_for_Humanity_and_RAC&Template=/CM/HTMLDisplay.cfm&ContentID=1542<br />Realtors Association of the Palm Beaches, Community Business Partners, Habitat for Humanity, Palm Beach County, South Palm Beach County Chapters<br />Click on Community on home page: http://www.rapb.com<br />Local Assistance Resources<br />
  38. 38. State Assistance Resources<br />Florida Dept. of Community Affairs, Division of Housing and Community Development<br />http://www.dca.state.fl.us/fhcd/index.cfm<br />DCA, Neighborhood Stabilization Program, Grants Management<br />http://www.dca.state.fl.us/FHCD/cdbg/StaffContacts.cfm#NSP<br />Florida Housing Finance Corporation (FHFC)<br />http://apps.floridahousing.org/StandAlone/FHFC_ECM/AppPage_HomePage.aspx<br />FHFC Housing Resources<br />http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage.aspx?PAGE=0040<br />
  39. 39. State Assistance Resources<br />State Housing Initiatives Partnership (SHIP)<br />http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage.aspx?PAGE=0132<br />SHIP Local Government Information<br />http://apps.floridahousing.org/StandAlone/FHFC_ECM/AppPage_SHIPLGContacts.aspx<br />Affordable Housing Study Commission<br />http://apps.floridahousing.org/StandAlone/AHSC/AHSC-Home.htm<br />Florida Housing Coalition<br />http://www.flhousing.org/<br />
  40. 40. State Assistance Resources<br />University of Florida’s Shimberg Center for Affordable Housing:<br />http://www.shimberg.ufl.edu/<br />http://flhousingdata.shimberg.ufl.edu/<br />Florida Community Loan Fund<br />http://www.fclf.org<br />1000 Friends of Florida<br />http://www.1000friendsofflorida.org/housing<br />
  41. 41. Federal Assistance Resources<br />National Association of Realtors® Housing Opportunity Program<br />http://www.realtor.org/government_affairs/housing_opportunity<br />NAR Housing Opportunity Toolkit<br />http://www.realtor.org/government_affairs/housing_opportunity/hoptoolkit_home<br />NAR workforce housing info<br />http://www.realtor.org/government_affairs/housing_opportunity/workforcehousing<br />NAR workforce housing, additional resources<br />http://www.realtor.org/government_affairs/housing_opportunity/workforcehousingresources<br />
  42. 42. Federal Assistance Resources<br />U.S. Department of Housing and Urban Development (HUD)<br />http://www.hud.gov/<br />U.S. Department of Veterans Affairs (VA)<br />http://www.va.gov/<br />VA Loan Guaranty Home Loan Program<br />http://www.homeloans.va.gov/<br />VA Mortgage Center<br />http://vamortgagecenter.com<br />NAR’s VA Loan Toolkit<br />http://www.realtor.org/government_affairs/va_toolkit_main?wt.mc_id=rd0060<br />
  43. 43. Federal Assistance Resources<br />Americans with Disabilities Act (ADA) website<br />http://www.ada.gov/<br />Homes for Heroes Inc. and the Homes for Heroes Foundation<br />http://homesforheroes.com<br />The Campaign for Affordable Housing<br />http://www.tcah.org/index.cfm<br />The Enterprise Foundation<br />http://www.enterprisecommunity.org/<br />FHA: The Federal Housing Administration<br />http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration<br />
  44. 44. Federal Assistance Resources<br />Fannie Mae<br />http://www.fanniemae.com/kb/index?page=home<br />Freddie Mac<br />http://www.freddiemac.com/<br />Habitat for Humanity<br />http://www.habitat.org/<br />Harvard University Joint Center for Housing Studies<br />http://www.jchs.harvard.edu/<br />Housing Assistance Council<br />http://www.ruralhome.org/<br />
  45. 45. Federal Assistance Resources<br />International Union for Housing Finance<br />http://www.housingfinance.org/<br />Low Income Investment Fund<br />http://www.liifund.org/<br />National Housing Conference<br />http://www.nhc.org/<br />National Low Income Housing Coalition<br />http://www.nlihc.org/template/index.cfm<br />Mortgage Bankers Association of America<br />http://www.mbaa.org/<br />
  46. 46. Federal Assistance Resources<br />National Association of Mortgage Professionals<br />http://www.namb.org<br />American Bankers Association<br />http://www.aba.com/default.htm<br />National Association of Home Builders<br />http://www.nahb.com/<br />National Association of Housing and Redevelopment Officials<br />http://www.nahro.org/index.cfm<br />National Conference of States on Building Codes and Standards<br />http://www.ncsbcs.org/<br />
  47. 47. Federal Assistance Resources<br />National Council of State Housing Agencies<br />http://www.ncsha.org/<br />National Multi Housing Council<br />http://www.nmhc.org/<br />NeighborWorks America<br />http://www.nw.org/network/home.asp<br />http://www.stablecommunities.org/<br />The Urban Institute<br />http://www.urban.org/<br />

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