The presentation discusses home buying and provides information on closing costs, down payments, total funds needed to purchase a home, and three homebuyer assistance programs. It notes that closing costs typically equal around 6% of the home's purchase price. It also gives examples of calculating closing costs, down payments, and total funds needed for different home price points. The presentation encourages buyers to have realistic expectations about home affordability and stresses the presenter's goal of helping buyers find the most home for their budget.
21. 1. More property (Maybe a large house
with more bedrooms or more space etc.) in a
less popular Neighborhood
22. 2. Less property (Maybe
a smaller home, less rooms
or less space. Perhaps a
townhouse instead of a
single family home etc.) in a
more popular
neighborhood.
23. 3- Iâm willing to pay whatever premium that is
required to have the size & type of Home I Desire in
the Areas I Prefer and I can Afford it.
37. My Time
Purchasing a home does not happen overnight it
requires giving up your time and being
inconvenienced.
38. My Energy
Looking at homes is labor intensive. It usually involves
a lot of walking so wear comfortable shoes.
39. My Emotions / Sanity
Purchasing a home can be an emotionally draining
experience.
40. My Money
There are fees associated with purchasing any home.
These fees are commonly referred to as a Down
Payment and/or Closing Cost. There is no such thing
as purchasing a home with no fees.
41. There is a possibility of
purchasing a home with
REDUCED Fees.
43. There are two major costs associated
with home ownership are closing costs and
down payment.
44.
45. Are the fees associated with
purchasing a home. Generally
they equal 5% to 6% of the
purchase price. It includes
everything from state and
county taxes to mortgagee
fees and appraisal costs.
46. Closing cost usually average
about 6% of the sell price or
$6,000 for every $100,000 in
the sales price of the home.
Letâs see some examplesâŠ
47. Example 1:
I decide to purchase a home for $120,000.
My C.C. will beâŠ
120,000
X 0.06
7,200
7,200 of Closing Costs
48. Example 2:
I decide to purchase a home for $200,000.
My C.C. will beâŠ
200,000
X 0.06
12,000
12,000 of Closing Costs
49. Is the amount the client invests
into the ownership of the home,
there by reducing the overall loan
amount. Down payment can be
anywhere from 0% to 20%
depending on the lenders
requirements and the clients desire.
50. The average Down Payment
amount is 3% or $3,000 for
every $100,000 in the sales
price of the home.
Letâs see some examplesâŠ
51. Example 1:
I decide to purchase a home for $120,000. the
average amount that the client would need to
invest is 3%. What is the Loan Ammount?
120,000 120,000
X 0.03 - 3,600
3,600 116,400
116,400 of loan amount
52. Example 2:
I decide to purchase a home for $200,000. the
average amount that the client would need to
invest is 3%. What is the Loan Ammount?
200,000 200,000
X 0.03 - 6,000
6,000 194,000
194,000of loan amount
53. Closing
Costs
Total funds
needed to
purchase
Down
Payment
54. If Down Payment = 3%
And Closing Cost = 6%
The Total funds needed to
purchase is 9% of the sales
price of the home.
55. Example 1:
For a $100,000 house. I needâŠ
100,000 100,000 3,000
X 0.03 X 0.06 + 6,000
3,000 6,000 9,000
109,000 of total funds needed
56. Example 2:
For a $200,000 house. I needâŠ
200,000
X 0.09
18,000
218,000 of total settlement
58. Offers 3 Homebuyer assistance programs to determine
which program is best for you.
It will be necessary to consider your credit
score, your income and your financial
savings.
NO ONE WILL BE TURNED AWAY!
59. Program #1: The buyer assistance program
Program #2: The rent to own program
Program #3: The credit intervention program
60.
61. ALWAYS FOLLOW YOUR
DREAMS.
Presented by Person Name
www.betterlifebettercredit.com
