First Time Home Buyers Hello, my name is _______. I’m a _______ , as well as a Member of The Society for Financial Awareness, commonly referred to as SOFA. We’re here as a 501(c)(3), with a Mission of ending Financial Illiteracy across America, one community at a time! Today we will be talking about First Time Home Buyers.

WE WOULD LIKE TO WELCOME YOU TO TODAY’S WORKSHOP Thank You for joining us! Our hope today is to provide you with some valuable information, have some fun, and enjoy this next hour. Most importantly, I’d like to welcome you to today’s workshop. In this next hour, it is our sincere desire to provide you with some really interesting and informative information that should provide you with a lot of answers in your journey of your Financial Plan. Feel free to use the back of your Program Evaluation for notes. As to any questions that might pop up, please feel free to ask at any time during the presentation, so you don’t forget. 2016 | The Society for Financial Awareness

EVALUATION FORM Please review this form. I will be picking these up at the end of the workshop. Do note – the backside is to be used for your specific questions and issues. Pass out the Evaluation Form now and explain the Complimentary Consultation. * Do note – this slide follows the welcome slide. 2016 | The Society for Financial Awareness

Home Buying Flow Chart Offer Gets Accepted The Deal is Done Initial Meeting Meet with Lender Loan Pre-Approval Show Property Negotiate The Offer Deposit 1% of sales price Make Offer Offer Gets Accepted Open Escrow Home Inspection $300-500 Negotiate Repairs Appraisal $350-600 Title Search Bring in Closing Funds Sign Loan Documents Final Walk Through Full Loan Approval The Deal is Done It’s Time to Move Loan Funds Deed Records 2016 | The Society for Financial Awareness

First Time Buyers Money Savings Secrets Don’t get the cart in front of the horse Financing comes first Deal with any credit issues Pay off appropriate bills when possible Develop a financing plan for your home New options in today’s market Foreclosures Short sale Divorce Probate 2016 | The Society for Financial Awareness

Tips Every First Time Buyer Should Know Do Your Research - Make yourself a market expert where you are looking for a home so you will know what an appropriate offer will be for a home Beat the Competition to New Things on the Market - How can I get there First? Don’t be a “Lone Wolf” - Seek information from many 2016 | The Society for Financial Awareness

Tips Every First Time Buyer MUST Know Prove You Mean Business Make your offer – one the seller wants to accept Don’t Lose Your Head Remember you may have to sell this house one day. Keep it Simple & Clean Make sure your offer is not over burdened with unnecessary clauses or contingencies Be Patient! . 2016 | The Society for Financial Awareness

6 Deadly Sins to Avoid When Buying a Home The Wrong House Don’t do something stupid just to do something Title Trouble Read the preliminary title report and understand the impact of any liens and easements recorded on the property Survey Surprises Check out the mapping of the property to be sure it is what and where you think it is 2016 | The Society for Financial Awareness

6 Deadly Sins to Avoid When Buying a Home Closing Cost Shocker Review your lenders good faith estimate to know how much you will need to when it comes to close escrow Who needs a “Professional Inspector”? You may feel like you can cut corners and do an inspection of your potential new home yourself but it’s not a good idea Closing Crunch I thought we had the weekend to move in, what do you mean you’ll be out Monday 2016 | The Society for Financial Awareness

6 Deadly Sins To Avoid When Buying A Home Credit Scores- 720 or above A++ 700,680,660,640,620,600 Know your credit score Don’t make changes adversely affecting your credit file Fix any major issues DTI Ratios Less that 35% Excellent Less than 40% Great Less than 50% Pushing It 2016 | The Society for Financial Awareness

Mortgage Options FHA/VA Conventional & Jumbo Subprime Great for first time home buyers, easy to qualify and requires 3% down loan limits are until the end of the year $697,500 Conventional & Jumbo These are the most common loan programs 95% financing- one loan Flexible 1 year to 40 year fixed Subprime Not available any longer for the most part 2016 | The Society for Financial Awareness

Mortgage Types 30 Year Fixed 15 Year Fixed 5/1, 7/1, 10/1 Hybrid Arms Home Equity Line of Credit Fixed Rate 2nd 2016 | The Society for Financial Awareness

Short Sale A short sale is a seller trying to sell their home for less than what is owed on it. They are asking for their lender to forgive part of the mortgage debt. Is it a great opportunity for buyers? The bank has the option to accept or reject your offer. Proceed with Caution…. 2016 | The Society for Financial Awareness

Foreclosures This is where the home owner can no longer make the payment on time and when they get 90 days past due they receive a notice of default. This gives them 90 days to get the payment current or they will foreclose the property, the property is now owned by the bank. Is a foreclosure a good deal? The banks are not in the Real Estate business, so they want to sell the property. Just because it says foreclosure does not make it a great deal, know your market. 2016 | The Society for Financial Awareness

Please take a moment to complete. I will be collecting these EVALUATION FORM Please take a moment to complete. I will be collecting these in a moment. If you need a pen, please let me know. Now is the time to promote the Evaluation Form and Complimentary Consultation. * Do note – this page is the 2nd to the last slide of your presentation. 2016 | The Society for Financial Awareness

Thank you for your time! Please complete your Program Evaluation. We will be picking them up shortly. Now would be a good time for me to answer any particular questions you may have. IMPORTANT: This is where you move from the front of the room, to the back by the door. This strategic location is where you will be picking up your Program Evaluations from your Attendees, who will be met by you at the door they’re leaving from. 16