15 STEPS TO HOMEOWNERSHIP

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WELCOME
- 15 STEPS
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STEP 1 | ATTEND A FIRST TIME HOMEBUYER CLASS
- Get Educated on Down Payment Assistance, Credit Counseling, & Qualified for Mortgage
3
STEP 2 | MEET WITH HOUSING COUNSELOR
- Early Assessment | Triage
- Setting Realistic Timelines
- Dealing With Credit Issues
- Examining The Budget
- Discussing Loan Products
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STEP 3 | DETERMINE HOW MUCH HOME THEY CAN AFFORD
- How much payment can you afford?
- How much cash do you have to work with/ need DPA & CCA
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STEP 4 | GET LOAN PRE APPROVED
- Peace of mind
- Necessity in order to make offers
- Determine the exact documentation required.
- Narrow down list of possible lenders.
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STEP 5 | DECIDE WHAT KIND OF HOME THEY WANT|NEED
- Make list of needs versus wants
- Have a reality check- what can you live with \ without
- What area do you want to live in? why ?
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STEP 6 | SELECT REALTOR
- Crafting your homebuying team
- Interviewing selecting & realtor
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STEP 7 | SHOP FOR A HOME
- Determine how much home you can afford and the need vs wants regarding the type of home needed - before engaging a Realtor.
- Take notes home tours video? pictures?
- Just say no- if realtor shows you home not in your budget.
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STEP 8 | MAKE THE OFFER
- Structuring the purchase contract
- Buyer Beware to not get to attached to a property until the offer is accepted and inspection has been completed.
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STEP 9 | GET A HOME INSPECTION
- What to expect?
- How to protect the buyer.
- Reason to obtain Home Inspection prior to appraisal
- Possible outcomes
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STEP 10 | THE APPRAISAL PROCESS
- Why is it required?
- What is an appraisal based on?
- Possible outcomes sales price above market / below market.
- Repairs called for by Appraiser - by Underwritter.
- Appraisal Final Inspection or "442"
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STEP 11 | GETTING HOMEOWNERS INSURANCE
- Where to start.
- Factors that may affect the premium
- Flood Insurance
- Other perils to consider
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STEP 12 | PROVIDE FINANCIAL CONDITIONS TO LENDER
- Everything is rolling fast from this point forward. Try to keep up.
- Remember everytime a new document is requested by you there may be a new set of questions asks. Patience Patience.
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STEP 13 | SIGN LOAN DOCUMENTS "AKA LOAN DOC"
- What to expect at the loan signing?
- What to bring to the loan signing?
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STEP 14 | FINAL WALK THROUGH
- Timing
- Items to look for during the final walk through.
- Dealing with unexpected issues.
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STEP 15 | CLOSING THE LOAN
- What to expect on Closing Day.
- I'm A Homeowner ... Now What?

15 STEPS TO HOMEOWNERSHIP

The 15 Steps To Homebuying is a mini-course that is slated to prepare consumers with information and strategies so they can make informed decisions throughout each phase of their purchase transaction.

Course curriculum

WELCOME

STEP 1 | ATTEND A FIRST TIME HOMEBUYER CLASS

STEP 2 | MEET WITH HOUSING COUNSELOR

STEP 3 | DETERMINE HOW MUCH HOME THEY CAN AFFORD

STEP 4 | GET LOAN PRE APPROVED

STEP 5 | DECIDE WHAT KIND OF HOME THEY WANT|NEED

STEP 6 | SELECT REALTOR

STEP 7 | SHOP FOR A HOME

STEP 8 | MAKE THE OFFER

STEP 9 | GET A HOME INSPECTION

STEP 10 | THE APPRAISAL PROCESS

STEP 11 | GETTING HOMEOWNERS INSURANCE

STEP 12 | PROVIDE FINANCIAL CONDITIONS TO LENDER

STEP 13 | SIGN LOAN DOCUMENTS "AKA LOAN DOC"

STEP 14 | FINAL WALK THROUGH

STEP 15 | CLOSING THE LOAN

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