This document provides information for first-time home buyers about the home buying process. It discusses when to buy, how to prepare by reviewing credit and creating a budget, common home buyer programs that provide down payment assistance, where to look for homes considering factors like schools and crime, an overview of the buying steps, and tips for selecting a real estate agent. Key points include that down payments can be as low as 3.5% or 0% with certain loan programs, grants are not always limited to first-time buyers, and the seller pays the buyer's agent commission.

1. Home Buying
/ Relocating
Information for First Time Home Buyers

2. JT & Jamie Haynes
Broker/Agent/Owners

3. About Us…

4. About Us…

5. About Triangle Realty
• Over 20 Licensed Agents
• Over 49 million in sales in 2015

6. About Triangle Realty
• JT Haynes licensed in TX &
NM
• Brokerage gave over $17,000
to local charities including
donations to ‘First Fruits’
program
Honor the LORD with your wealth, with
the first fruits of all your crops. Proverbs 3:9

7. This presentation is online as a
slideshare…
1. LinkedIn Page: Jamie Haynes
2. LinkedIn Page: JT Haynes

8. Topics We Will Cover:
1. When To Buy
2. Preparing To Buy
3. Where To Buy
4. Understanding the Buying Process
5. Selecting A REALTOR

9. When To Buy

10. When To Buy

11. When To Buy

12. When To Buy
What does this mean? Now is a good time to buy!

13. Preparing To Buy
What can you do to prepare for your first
home purchase?
Review your CREDIT (www.creditexpert.com)
Develop a BUDGET you can live with
PRE-QUALIFY for a mortgage

14. Most Common Home Buyer Programs
1. **Down Payment & Closing Cost Help**
2. Affordable 1st Mortgage
3. Mortgage Credit Certificate (MCC)

15. Where to go?
YOUR LENDER (Credit, Budget, Pre-Qualify)
www.downpaymentresource.com
www.myfirsttexashome.com

16. Preparing To Buy
TEST TIME

17. Preparing To Buy
True or False?
You must be a first time home buyer to
qualify for a program.

18. Preparing To Buy
You must be a first time home buyer to
qualify for a program.
FALSE
36% of programs have NO first time home
buyer requirement
Definition of a FTHB is you haven’t owned
a home in 3 years

19. Preparing To Buy
True or False?
I have to be on my job for 2 years.

20. Preparing To Buy
I have to be on my job for 2 years.
FALSE
 Lenders would like to have 2 years of
employment, but it doesn’t have to be with
the same employer
 Education / trade school counts as part of
the 2 year history
 Exceptions are allowed

21. Preparing To Buy
True or False?
I have to have 20% down.

22. Preparing To Buy
I have to have 20% down.
FALSE
 FHA is 3.5% down
 Conventional FTHB is 3% down
 VA – 0% down
 BOND LOANS (SETH, TSHAC, USDA) 0% down

23. Preparing To Buy
True or False?
I must be a US citizen.

24. Preparing To Buy
I must be a US citizen.
FALSE
Permanent resident and some VISA
residents are allowed

25. Preparing To Buy
True or False?
Grant programs are for First Time Home
Buyers.

26. Preparing To Buy
Grant programs are for FTHB.
FALSE
Not all gift/grant programs require you
to be FTHB

27. Where To Buy
LOCATION,
LOCATION,
LOCATION!!

28. Where To Buy
School data (tea.texas.gov)

29. Where To Buy
Crime data (crimereports.com)

30. Where To Buy
Walk Score (www.walkscore.com)

31. Where To Buy
Ask your REALTOR…
 School, Crime, Transit,
Demographic data
 General Neighborhood
information / history
Homes built Ex. 1950s
Home Style
Issues Ex. Clay Pipes, No
water/bad wells

32. Where To Buy
 Sales Data About Neighborhood
Average Price Per Year
Price Low-High Per Year
Avg Days on Market Per Year
# of Sales Per Year

33. Where To Buy
Ask your REALTOR…
 CMA /Tax Appraisal on the property
 CMA = Comparative Market Analysis

34. Understanding The Buying Process
How much does it cost to hire a
REALTOR?

35. How much does it cost to hire a REALTOR?

36. Understanding The Buying Process
A: 100 BILLION DOLLARS
Well, not really…
Q: How much does it cost to hire a REALTOR?

37. Understanding The Buying Process
If you are buying a property, the seller
pays the buyers agent’s commission.
Q: How much does it cost to hire a REALTOR?
A: NOTHING

38. Understanding The Buying Process

39. Selecting a REALTOR
 Hire Experience
 Hire Expertise
 Hire a Neighborhood Pro
 Don’t Work with Friends
or Family
 You Get What you Pay For

40. Selecting a REALTOR
 Houses Don’t Just Sell Themselves
 People are more likely to
buy a product that their friend
likes
 Past Performance is the Best
Predictor of Future Performance
 Who are you Actually Hiring?

41. Selecting a REALTOR
 Great Realtors have
Great Partners
 Get a second opinion
(shameless plug – call
us!)

42. Selecting a REALTOR - Where to go?
Referral
Investigate Yourself
Find MLS (Multiple Listing
Service) board Ex. AAOR,
LAOR, HAOR
Who were the top 15 agents in
sales for the previous year

43. Selecting a REALTOR - Where to go?
Find them online
Testimonials
Their website
REALTOR.com profile
Reviews
FB, Google, Yelp

44. Final Tips
Find a REALTOR!!
 Find a LENDOR (Credit, Budget, Pre-Qualify)
 Use Realtor.com (Not Zillow/Trulia)

45. JT & Jamie Haynes
Broker/Agent/Owners
806-367-8334
us@trianglerealtyllc.com