1. Equity Resources, Inc.

2. Five Goals for Today 1.Explain how loan programs today are different than five years ago. Down Payment Credit Requirements 2.Eliminate the top three myths of buying a home. Down Payment Credit Income 3.Explain tax benefits of being a homeowner. 4.Home ownership reached its highest level in 2004. Explain why Give Examples Credit Scoring 5.How to get pre-approved for FREE. How to apply How much can I afford?

3. Goal #1  Conventional guidelines changed  FHA guidelines changed  Sub-Prime lending has changed  Better pricing ~ Lower Fees  Less down payment required  Which credit score to use? Explain how loan programs today are different than five years ago

4. Eliminate the top three myths of buying a home 1.What is the minimum down payment needed to purchase a home? How much do I need for closing costs? 2.Do I need perfect credit? What if I have collection accounts? What credit score do I need? How long after bankruptcy do I need to wait to buy a home? Purchased $147,000 home – recent BK – 587 credit score – 19 years job time + auto loan. 100% financing and zero money due at closing. Earnest money returned to customer! What if I had a foreclosure in my past? What if I have good credit? 3.Income or how much can I qualify for? Varies with program (36%-42%-55%) What counts? Can I use my child support or SSI Story of Char Goal #2

5. RENTING vs. BUYING Rent paid per year$ 9,600.00 Mortgage Interest on Schedule A$ 6,500.00 Property Tax Deduction on Schedule A$ 1,200.00 Total Mortgage Deduction$ 7,700.00 Yearly Benefit (Standard Tax Bracket x.28)$ 2,156.00 Monthly Tax Benefit to Owning a Home!$ 179.67 Monthly tax benefits vary based on your individual itemized deductions. The above figures are an estimate only. Other deductions are available. Goal #3 Explain tax benefits of being a homeowner

6. Home ownership reached its highest level in 2004 – Explain Why Why is home ownership so high? Examples Closed Monday – purchase price was $72,500 and customer got his $200 earnest money check back at closing. 624 credit score with six open collections. Husband and wife – changed to husband only 586 credit score with $18,450 in collections + $4980 repossession. 100% financing. Seller paid closing costs. Zero at closing. Credit scoring classes Mrs. Barnes story – 564 credit score to 647 in two months. Our guarantee to you! Goal #4

7. Goal #5  Three easy ways to apply  Goal of making you a “raving fan”  How much can I afford?  What fits in my budget per month keeping in mind the tax benefits of owning a home?  Tell a friend! How to get pre-approved for FREE

8. Ranges of a Credit Score

9. Graph of Five Key Components