Buying
Your First Home

Seminar Presentation



     © 2007, All Rights Reserved, YourOrlandoMortgage.com
ravis BeMent – Owner
YourOrlandoMortgage.com




                 © 2007, All Rights Reserved, YourOrlandoMortgage.com
What We Will Cover Today
Why this is a great time to buy
3 economic reasons to own
Financing for first time buyers
Ove...
Why The Market is Hot
Population growth fueled by
 immigration
Home prices at record lows
Lower interest rates
Diversi...
Fannie Mae Survey
Security, permanence & control:
 69% gave as reasons
Owning a good investment: 78%
Two-thirds would c...
Wealth Is Created Through
      Real Estate...




        © 2007, All Rights Reserved, YourOrlandoMortgage.com
Ask This Question...
     Would you rather pay $975 a
   month for rent that goes
   totally down the drain?
       Or wou...
Three Financial Reasons
****The Power of Leverage

****Rental Equivalency

****Inflation Hedging


            © 2007, All...
The Power Of Leverage
                       Home                                          Savings

Investment      $ 10,0...
Rental Comparison
                                             Own                     Rent
Monthly Payment     $1,116   $...
Inflation Hedging
                          Own       Rent
Monthly Payment           $1,116   $ 850
Inflation @4%         ...
Fannie Mae Survey
       Major obstacles to
        home ownership
51% Cash
44% Income
29% Job Security
25% Credit Record
...
The FHA Solution
 No income limit
 Limitation upon loan amount
 Allows 100% gifts
 Allows non-resident aliens
 3.5% d...
The VA Solution
Qualified veterans & active
 military
Maximum loan limit
No down payment
Seller can pay all closing co...
Conventional Solution
Fannie Mae & Freddie Mac
5% down payment
Maximum income limits for
 some programs
Seller can pay...
Short Income?
 Assumptions: harder to find
 Lower rate: buy-downs & adjustables
 High ratio programs: FHA/VA
 Co-borro...
Short Cash?
 Low down payment programs:
   FHA, VA
 No point & reduced closing cost
 Gifts: 100% rule
 Seller paid cl...
Moving Forward
Homebuyers Financial Planner
                             &

     Residence Analysis

     "Plan the action...
Why Do It Backwards?

    Approval before you shop
Gives you confidence
Eliminates last minute problems
More negotiatin...
The Time Is Now




     © 2007, All Rights Reserved, YourOrlandoMortgage.com
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First Time Homerbuyer Seminar

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This is a copy of a First TIme Homebuyers Seminar I used to give. I eliminated everything that has changed- and would love the chance to adjust further and use at a presentation

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First Time Homerbuyer Seminar

  1. 1. Buying Your First Home Seminar Presentation © 2007, All Rights Reserved, YourOrlandoMortgage.com
  2. 2. ravis BeMent – Owner YourOrlandoMortgage.com © 2007, All Rights Reserved, YourOrlandoMortgage.com
  3. 3. What We Will Cover Today Why this is a great time to buy 3 economic reasons to own Financing for first time buyers Overcoming obstacles Planning for your first home © 2007, All Rights Reserved, YourOrlandoMortgage.com
  4. 4. Why The Market is Hot Population growth fueled by immigration Home prices at record lows Lower interest rates Diversified portfolio a key © 2007, All Rights Reserved, YourOrlandoMortgage.com
  5. 5. Fannie Mae Survey Security, permanence & control: 69% gave as reasons Owning a good investment: 78% Two-thirds would choose to work an extra decade to own Owning is truly the-- American Dream © 2007, All Rights Reserved, YourOrlandoMortgage.com
  6. 6. Wealth Is Created Through Real Estate... © 2007, All Rights Reserved, YourOrlandoMortgage.com
  7. 7. Ask This Question... Would you rather pay $975 a month for rent that goes totally down the drain? Or would you rather pay $975 a month to own a home ...and have a savings account growing steadily each month? © 2007, All Rights Reserved, YourOrlandoMortgage.com
  8. 8. Three Financial Reasons ****The Power of Leverage ****Rental Equivalency ****Inflation Hedging © 2007, All Rights Reserved, YourOrlandoMortgage.com
  9. 9. The Power Of Leverage Home Savings Investment $ 10,000 $10,000 Total Asset $100,000 $10,000 Appreciation 4% 4% 10 Year Return $ 39,803 $ 4,800 Rate of Return 17% 4% © 2007, All Rights Reserved, YourOrlandoMortgage.com
  10. 10. Rental Comparison Own Rent Monthly Payment $1,116 $ 850 Tax Deductible $ 983 Tax Savings @22.3% (220) After Tax Payment $ 896 Principal Reduction (45) Rental Comparison $ 851 $ 850 © 2007, All Rights Reserved, YourOrlandoMortgage.com
  11. 11. Inflation Hedging Own Rent Monthly Payment $1,116 $ 850 Inflation @4% Portion All Payment Year 10 $1,234 $1,258 Principal Reduction (120) N/A Pre Tax Year 10 $1,114 $1,258 After Tax Year 10 $ 805 $1,258 © 2007, All Rights Reserved, YourOrlandoMortgage.com
  12. 12. Fannie Mae Survey Major obstacles to home ownership 51% Cash 44% Income 29% Job Security 25% Credit Record © 2007, All Rights Reserved, YourOrlandoMortgage.com
  13. 13. The FHA Solution  No income limit  Limitation upon loan amount  Allows 100% gifts  Allows non-resident aliens  3.5% down payment  Parents can co-sign  29/41 ratios are liberal © 2007, All Rights Reserved, YourOrlandoMortgage.com
  14. 14. The VA Solution Qualified veterans & active military Maximum loan limit No down payment Seller can pay all closing costs 41% ratio 100% gifts allowed © 2007, All Rights Reserved, YourOrlandoMortgage.com
  15. 15. Conventional Solution Fannie Mae & Freddie Mac 5% down payment Maximum income limits for some programs Seller can pay some closing costs © 2007, All Rights Reserved, YourOrlandoMortgage.com
  16. 16. Short Income?  Assumptions: harder to find  Lower rate: buy-downs & adjustables  High ratio programs: FHA/VA  Co-borrower  Ask employer for a raise!  Pay off debts © 2007, All Rights Reserved, YourOrlandoMortgage.com
  17. 17. Short Cash?  Low down payment programs:  FHA, VA  No point & reduced closing cost  Gifts: 100% rule  Seller paid closing costs  Borrowing  Co-borrowers  Savings over time © 2007, All Rights Reserved, YourOrlandoMortgage.com
  18. 18. Moving Forward Homebuyers Financial Planner & Residence Analysis "Plan the action" © 2007, All Rights Reserved, YourOrlandoMortgage.com
  19. 19. Why Do It Backwards? Approval before you shop Gives you confidence Eliminates last minute problems More negotiating power © 2007, All Rights Reserved, YourOrlandoMortgage.com
  20. 20. The Time Is Now © 2007, All Rights Reserved, YourOrlandoMortgage.com

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