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

1. Buying
Your First Home
Seminar Presentation
© 2007, All Rights Reserved, YourOrlandoMortgage.com

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

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. 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. 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. Wealth Is Created Through
Real Estate...
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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?
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8. Three Financial Reasons
****The Power of Leverage
****Rental Equivalency
****Inflation Hedging
© 2007, All Rights Reserved, YourOrlandoMortgage.com

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. 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. 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
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12. Fannie Mae Survey
Major obstacles to
home ownership
51% Cash
44% Income
29% Job Security
25% Credit Record
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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
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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
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15. Conventional Solution
Fannie Mae & Freddie Mac
5% down payment
Maximum income limits for
some programs
Seller can pay some closing
costs
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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
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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
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18. Moving Forward
Homebuyers Financial Planner
&
Residence Analysis
"Plan the action"
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19. Why Do It Backwards?
Approval before you shop
Gives you confidence
Eliminates last minute problems
More negotiating power
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20. The Time Is Now
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