Home Buyer Seminar

Zenith Realty®

Attend Free Home buyer Seminar

Start with the lender, get to know your loan officer – Whether it’s a bank or credit union being on the same page with the lender makes a big difference. Make time to attend a free home buyer seminar or take the class online to learn about the home buying process. Keep credit inquiries to a minimum – Don’t buy new stuff on credit and continue to make on time payment – Do not close credit account and Do Not Open New credit line Keep Your account balances around 33% of the credit line.

Come to our seminars to learn more

Free Home buyer seminar
Free 1 year home warranty
Get a free credit report
Let us help you get to your dream home

Decide Where you want to live

PREFERRED LOCATION NEAR
CHURCHES /MOSQUE /SYNAGOGUE /TEMPLE
FRIENDS / SCHOOLS
PROXIMITY TO WORK
PUBLIC TRANSPORTATION
SHOPPING
ENTERTAINMENT

What you need to do

Maintain Your credit – Limit credit inquiries
Do not make large purchases
Do not co-sign for any large purchase
Do not make large cash deposit in your Bank
Do not change job – Switch Career
Do not Open New Credit Card
Pay all bills ON TIME

BUYING

Property values tend to rise overtime
Pride of homeownership/privacy
Cost of borrowing / Rates maybe below 3%
Build financial stability – Sweat Equity
Help for First Time Home Buyer

Renting

No control over landlord
Rent increase at discretion of Landlord
Landlord may sell at anytime
No Equity
1,000/month rent = $240,000 over 20 years

Your Home Team Expert

Real Estate Agent
Mortgage Company / Loan officer
Title/Settlement company
Inspection / Termite

Find a Real Estate Agent / Realtor

Realtor will help you find the right house at the right price Realtor have access to UPDATED Multiple Listing Services (MLS) Realtor can Show you houses not listed on (Zillow/Redfin/Trulia) Realtor have experience in negotiating sales price & closing cost Realtor can show you properties, help you decide, educate you.

– Agent find properties, make offers, review contracts, negotiate terms, schedule inspections – coordinates with lender and title company.

Mortgage Company - Loan officer

Loan officer will help you:

Determine how much house you can afford
The best financing for your situation
Type of Financing-FHA, Conventional, Down Payment (3%- 20%)
Explaining the cost of Financing/ The Process & How to maintain credit
Get Pre-approved – Issue you Finance Letter
Schedule Appraisal- Process your loan application

Title / Settlement Company

Title Company help coordinates the transaction (buyer/seller)Title company verifies information about (property/seller/lender)
Title company ensures, legal transfer of the property
Title Company hold money in escrow for both parties
Title Company also prepares the Documents, Deeds, Loan Docs for settlement.

Inspection

Home Inspection is paramount
It reveals the property Condition
Structural(foundation, roof, framing)
Mechanical ( A/C, Heat)
Plumbing(Toilet Leak, Sink, Shower, bathtub
Electrical (Outlets, lights, switches)
Permanent fixtures

Cost Associated with buying a house

EMD –Earnest Money Deposit (goes toward your down payment)
Usually (1+%) of the property sales price offered.
Down Payment (3% or more) of the sales price as per lender
Appraisal (400 – $600)
Paid to Appraisal Company
Home Inspection (300- $500)
Termite inspection, Sometimes required by lender ($40)
Closing Cost (about 3% of Sales, include lender’s title, Title insurance)-(prepaid expenses, interests, lender fees).
Homeowners Insurance

Get to Settlement

Once loan conditions are met Satisfactory Appraisal, Inspection, Funds to close Verified. Lender issue: Clear to Close / review Settlement Statement Schedule settlement Date & time for Settlement. Bring your ID to settlement and anyone, to be on Title Make arrangement to wire proceed – Signed docs, get copies GET your KEYS and MOVE-IN.

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Zenith Realty®