1. 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.

2. 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

3. 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

4. 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 $
Negotiate
Repairs
Appraisal $
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

5. 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

6. 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

7. 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

8. 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

9. 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

10. 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

11. 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

12. 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

13. 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

14. 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

15. 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

16. 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