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Buyer Presentation SEAL
16
Welcome
What you’ll learn
Are you ready to buy a house?
WHY Buy?
Expectations of Home Ownership and Process
Loan types
Costs
Your FREE Gifts will be on the last slide with links for download
Are you ready to buy a house?
Credit
Money
You do NOT have to use a certain lender or agent, you can always choose
WHY Buy?
Value
When You Rent: You are paying someone else’s mortgage, taxes, insurance, etc PLUS profit
You are building equity
Gaining appreciation
255k vs 6,3k Networth
If you’re smart
Use as first lease
Sell for more
If you’re smart
Build retirement
You can leverage it to help you prepare for the future
Expectations of Home Ownership and Process
Home ownership… there’s no one to call and fix problems for free
The gravity of ownership matters
It’s almost never FREE or $0, even if your down payment is 0 there are lender fees and title fees
It is NEVER stress free
Loan types
Costs
Agent Interview Questions
Buyer Guide
If you’re smart
When do I start looking for a house?
First step: Timeframe/Costs
Second step: Lender
- Not all are created equal
- Get your LETTER!
- Please ask us for our referrals
Third step: Looking
Loan types
What loan types there are and what do each entail
Conventional
FHA
VA
USDA
Special Programs
Conventional
3%-20% down payment
Most typical
No PMI aka no extra “Fees” on monthly payments
Ability to purchase investment-type properties, but still NO
major issues
FHA
3.5% down
More lenient on credit, debt to income
PMI for 11 yrs OR life of the loan
NOT good for investment-type properties
Two types
Two types
FHA 203b-most common
FHA 203k-rehab loans
- Costly
- Massive timeframe issues
- Not appealing to sellers
- Contractors
- Paperwork
VA
0% down
CANNOT be investment type
You do get some fees paid by seller
You can get close to no fees at closing IF you structure the
loan, contract terms AND you have additional credits as a
Veteran
USDA
ONLY very rural areas
You can go to USDA website and look up address
Strict qualification process
Still some fees
Special Programs
Grants
Gifts
First time home buyer programs
Credits and programs for first responders
Creative Programs with SEAL Group
Exclusive,
Creative Programs with SEAL Group
Lease to Own
Seller Finance
Lease to Own
About 6% all in, sometimes less
You can buy when you’re ready
BUT you build equity and money toward your down payment in every payment
Lower credit is ok!
Please call us for more details
Seller Finance
Created to help ITIN, credit challenged, past
bankruptcy/divorce/foreclosures, 1099 income, business owners… ANY person turned down for regular loan
10k down at least, typically 17%-18% all in
Interest ranges from 6%-11%
You can refinance as soon as you want with NO penalties *read contract terms of specific contract*
ANY home on the market
Creative Scenarios
Rehabs
Land
New build
Manufactured homes/Mobile Homes
- Not “real property” unless retrofitted
- Title is treated like a car
- TWO loans if you buy land and then buy a mobile home
Loan
process
Time frame
Title fees
What is the loan process like and fees
Lender fees
Other Costs
- Inspection fee
- Appraisal fee
- HOA transfer fees
- Option money
- Earnest money
- Movers, cleaners
- Utility movement: Sometimes there are credit checks, we have a concierge for you here and part of your bill goes to Feed America every time that you pay + we have
WHILE UNDER CONTRACT
- DO NOT make any significant purchases or incur any additional debt that will affect your debt to income ratio and/or your credit
Thank You
Text/Call: 817-476-0094
Buyer Guide Copy/Paste:
https://docs.google.com/document/d/1WhOAqSIY3h5CsswKh0DGz3fSwqOaZ2EVvGTqOsT_wcs/edit?usp=sharing
Resources Copy/Paste:
https://docs.google.com/document/d/1pFVgU0ZOKtikj8F-uq88ms0lFeGYCdbhEJlQ0hZLIh8/edit?usp=sharing