HOME BUYING CLASS
Presented by Angelite Armento-McWhorter
MEET ANGELITE
1. Local Real Estate Trends
2. Home Buying Process
3. Finance Your Home
4. Recap
AGENDA
ABOUT REDFIN
A BETTER WAY TO BUY & SELL
On Your Side - SERVICE
Redfin agents are paid a salary and
results of a survey eac...
TOURING HOMES IS SIMPLE WITH BOOK IT NOW
1 2 3 4
1
LOCAL REAL ESTATE TRENDS
MEDIAN SALE PRICE • Compare neighborhoods at the
Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 min...
DAYS ON MARKET • Compare neighborhoods at the
Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 minutes
2
HOME BUYING PROCESS
OVERVIEW OF THE
HOME BUYING
PROCESS
Research
Search for Homes
1
2
Make You Offer / Open Escrow3
Finance Your Home4
RESEARCH
• Mortgage loans & pre-approval
• Real estate agents & reviews
1
PRE-APPROVAL
1 3 42
Lender Types Speed CommunicationApproval Types
Pre-qualification
Pre-approval
Big Banks
Credit Unions
...
SEARCH FOR HOMES
• Neighborhoods
• Schools
• HOA and/or Mello Roos
• See homes in person on a tour
• Save searches on Redf...
NEW CONSTRUCTION
FORECLOSURES & SHORT SALES
MAKE YOUR
OFFER
• Pricing &
comparables
• Common
contingencies
• Negotiations
• Mutual acceptance
3
ESCROW PROCESS
• Comparable sales & offer price
• Common contingencies (Inspection, Appraisal, Loan)
• Negotiations
• Escr...
4
FINANCE YOUR HOME
TYPES OF
LOANS
Conventional:
• As low as 5% down
• Fixed or adjustable rates & conforming
Federal Housing Administration L...
GETTING PRE-APPROVED
Income
• Salary — Past 30 days
• Hourly — Consistency & History
• Self Employed — Two-year average
As...
Thank You
For Coming!
Angelite Armento-McWhorter
a.armento-mcwhorter@redfin.com
San Diego Home Buying Class 11.14.17
San Diego Home Buying Class 11.14.17
San Diego Home Buying Class 11.14.17
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San Diego Home Buying Class 11.14.17

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San Diego Home Buying Class 11.14.17

  1. 1. HOME BUYING CLASS Presented by Angelite Armento-McWhorter
  2. 2. MEET ANGELITE
  3. 3. 1. Local Real Estate Trends 2. Home Buying Process 3. Finance Your Home 4. Recap AGENDA
  4. 4. ABOUT REDFIN A BETTER WAY TO BUY & SELL On Your Side - SERVICE Redfin agents are paid a salary and results of a survey each customer on our service and pay a bonus based on the review. Smarter & Faster - TECHNOLOGY Our technology makes home tours, listing debuts, the escrow process, faster easier and worry-free. You Get More - EXPERIENCE Customers save thousands due to our commission refunds and lower listings fees for full-service representation 100% TEAM Support We accommodate to your schedule by working with a team to tour homes and work on transactions.
  5. 5. TOURING HOMES IS SIMPLE WITH BOOK IT NOW 1 2 3 4
  6. 6. 1 LOCAL REAL ESTATE TRENDS
  7. 7. MEDIAN SALE PRICE • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center • Updated every 15–30 minutes
  8. 8. DAYS ON MARKET • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center • Updated every 15–30 minutes
  9. 9. 2 HOME BUYING PROCESS
  10. 10. OVERVIEW OF THE HOME BUYING PROCESS Research Search for Homes 1 2 Make You Offer / Open Escrow3 Finance Your Home4
  11. 11. RESEARCH • Mortgage loans & pre-approval • Real estate agents & reviews 1
  12. 12. PRE-APPROVAL 1 3 42 Lender Types Speed CommunicationApproval Types Pre-qualification Pre-approval Big Banks Credit Unions Brokers Online Direct, Local Slow Fast Flexible Call Listing Agent Regular Updates Clear Reasonable
  13. 13. SEARCH FOR HOMES • Neighborhoods • Schools • HOA and/or Mello Roos • See homes in person on a tour • Save searches on Redfin and get instant notifications 2
  14. 14. NEW CONSTRUCTION
  15. 15. FORECLOSURES & SHORT SALES
  16. 16. MAKE YOUR OFFER • Pricing & comparables • Common contingencies • Negotiations • Mutual acceptance 3
  17. 17. ESCROW PROCESS • Comparable sales & offer price • Common contingencies (Inspection, Appraisal, Loan) • Negotiations • Escrow period • Opening escrow / Deposit • Home inspection • Seller disclosures • Final walk through • Funding / close escrow 3
  18. 18. 4 FINANCE YOUR HOME
  19. 19. TYPES OF LOANS Conventional: • As low as 5% down • Fixed or adjustable rates & conforming Federal Housing Administration Loan (FHA): • Always have mortgage insurance • Buyers need only a 3.5% down payment Jumbo Loan: • Larger down payment required • More restrictive debt-to-income ratios VA Guaranteed Loan: • Veterans, active duty personnel, reservists/national guard, surviving spouses • No down payment
  20. 20. GETTING PRE-APPROVED Income • Salary — Past 30 days • Hourly — Consistency & History • Self Employed — Two-year average Assets • Down Payment • Closing Costs • Cash Reserves Credit • 640 for FHA • 680 for Conventional • 720 for Rate Improvement
  21. 21. Thank You For Coming! Angelite Armento-McWhorter a.armento-mcwhorter@redfin.com

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