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HOME OWNERSHIP WITH HAVEN
Presented by Tervor Ottswww.betterlifebettercredit.com
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HOME OWNERSHIPWITH HAVEN
The points are…
What is HAVEN?
Home Ownership Survey?
…
…
…
OUTLINE
Presented by Trevor Ottswww.havenrealtycenters.com
WHAT IS HAVEN?
HAVEN is…
The safest place in Real State.
More than a real state company.
WHAT IS HAVEN?
Is a Movement!.
HAVEN is a MOVEMENT…
To create Real State
Professionals that are
service driven, not
commission driven.
WHAT IS HAVEN?
HAVEN is a MOVEMENT…
To require Real State
Professionals to be
conscientious about
the welfare of the
costumer.
WHAT IS HAVEN?
HAVEN is a MOVEMENT…
To ensure that Real State
Professionals strive to
exceed the
expectations of your
customers.
WHAT IS HAVEN?
OUR MISSION is
To protect you during
the real state transaction.
We help you achieve
your dreams and realize
your goals and your
highest aspirations.
WHAT IS HAVEN?
But… WHY ME?
Because we care about…
WHAT IS HAVEN?
CUSTOMER COMMUNITY YOU
OUR MISSION is
to Help YOU!
WHAT IS HAVEN?
Who I am?...
Have 15 years of Experience,
Energetic,
Enthusiastic,
Dedicated.
Caring.
ABOUT ME
Presented by Trevor Ottswww.havenrealtycenters.com
HOME OWNERSHIP SURVEY
Survey…
Thank you for answering the survey.
Now it is time to CONTINUE…
HOME OWNERSHIP
Presented by Trevor Ottswww.havenrealtycenters.com
REALISTIC EXPECTATIONS
$ 100,000 $
1,000,000
Fact…
Homebuyers who have a
realistic perspective on
the home purchasing experience
find homes at a FASTER rate
than those who DON’T.
REALISTIC EXPECTATIONS
From me to have a realistic perspective……
I MUST understand that…
WHAT IS REQUIRED
From me to have a realistic perspective……
1. Some areas are more expensive than others…
WHAT IS REQUIRED
From me to have a realistic perspective……
2. My finances play a GREAT factor in
what I CAN afford.
WHAT IS REQUIRED
From me to have a realistic perspective……
3. This is NOT my last home.
WHAT IS REQUIRED
My Starter Home…
Let’s assume I paid $100,000
THIS IS NOT MY LAST HOME
Later I sell it for $200,000
How much did I make $100,000
Now it is time to purchase My Dream Home…
I made and placed a down payment of $100,000
THIS IS NOT MY LAST HOME
Let’s assume I paid $200,000
How much did I owe $100,000
So…
I have upgraded my home
without upgrading my
payment!!!
THIS IS NOT MY LAST HOME
Am I The Type of Buyer that would prefer to get…
1. More property (Maybe a large
house with more bedrooms or more
space etc.) in a less popular
Neighborhood
STREAMLINING MY CHOICES
Am I The Type of Buyer that would prefer to get…
2. Less property (Maybe a smaller home,
less rooms or less space.
Perhaps a townhouse
instead of a single family
home etc.) in a more
popular neighborhood.
STREAMLINING MY CHOICES
Am I The Type of Buyer that would prefer to get…
3- I’m willing to pay whatever premium that is required to have the size & type of
Home I Desire in the Areas I Prefer and I can
Afford it.
STREAMLINING MY CHOICES
It is time to….
CHOOSE ONE!
BE REALISTIC
The Sequel.…
As an informed and
educated buyer, I must
bring my CHOICES in line
with my FINANCIAL
CAPABILITIES.
REALISTIC EXPECTATIONS
I….
Can make realistic
choices and bring them in
line with my financial
capabilities by Balancing
My Understanding of:
REALISTIC EXPECTATIONS
Of…
Different Areas Different Prices
REALISTIC EXPECTATIONS
1. Different Areas VS Different
Prices
Of…
REALISTIC EXPECTATIONS
1. Different Areas VS Different
Prices
Of…
REALISTIC EXPECTATIONS
2. What I want VS What I need
Of…
REALISTIC EXPECTATIONS
What I need?…
A CAR that…Is just for me (I am single)
Does not spent so much gasIs confortable
And safe.
Of…
REALISTIC EXPECTATIONS
3. What I Want VS What Can I
Afford?
I CAN Afford…A 10K – 13K
Less than 155” Length By Chevrolet…
Of…
REALISTIC EXPECTATIONS
So … Let me Introduce the car
you need and can afford.
Well…
This situation
happens with
houses too…
REALISTIC EXPECTATIONS
Of…
REALISTIC EXPECTATIONS
What I want?
Of…
REALISTIC EXPECTATIONS
What I need?
A House that…Is for my wife,
my 2 small children and me Reasonable Price
ComfortableIn a safe area.
Of…
REALISTIC EXPECTATIONS
What Can I Afford?
I CAN Afford…A 100K House…
Of…
REALISTIC EXPECTATIONS
So … Let me Introduce the house
you need and can afford.
We are…
A Team and as a team our goal is to…
Get the MOST amount of house
for the LEAST amount of money
for the LOWEST monthly payments!
REALISTIC EXPECTATIONS
Presented by Trevor Ottswww.havenrealtycenters.com
TEAM WORK makes the DREAM WORK
It is important to say that…
Where there is NO investment there
is No Appreciation
REALISTIC EXPECTATIONS
I should expect to invest…
My Time
Purchasing a home does not happen
overnight it requires giving up your time and
being inconvenienced.
WHAT DO I HAVE TO INVEST?
I should expect to invest…
My Energy
Looking at homes is labor intensive. It usually
involves a lot of walking so wear comfortable
shoes.
WHAT DO I HAVE TO INVEST?
I should expect to invest…
My Emotions / Sanity
Purchasing a home can be an emotionally
draining experience.
WHAT DO I HAVE TO INVEST?
I should expect to invest…
My Money
There are 2 sets of fees associated with purchasing
any home. These fees are commonly referred to as
a Down Payment and/or Closing Cost. There is no
such thing as purchasing a home with no fees.
WHAT DO I HAVE TO INVEST?
Well…
There is a possibility
of purchasing a
home with
REDUCED Fees.
WHAT DO I HAVE TO INVEST?
Presented by Trevor Ottswww.havenrealtycenters.com
HOW MUCH?
You should know….
There are two major costs
associated with home ownership are
closing costs and down payment.
HOW MUCH?
And these are…
Closing Costs
Down Payment
HOW MUCH?
Closing Costs…
Are the fees associated with
purchasing a home. Generally
they equal 6% of the
purchase price. It includes
everything from state and
county taxes to mortgagee
fees and appraisal costs.
HOW MUCH?
Think of Closing costs like this…
Closing cost usually
average about 6% of the
sales price or $6,000 for
every $100,000 in the
sales price of the home.
Let’s see some examples…
HOW MUCH?
Examples…
HOW MUCH?
Example 1:
I decide to purchase a home for $100,000. My C.C. will be…
100,000X 6%
6,000Closing Costs = 6,000
Examples…
HOW MUCH?
Example 2:
I decide to purchase a home for $200,000. My C.C. will be…
200,000X 6%
12,000Closing Costs = 12,000
Down Payment…
Is the amount the client invests into the ownership of the home,
there by reducing the overall
loan amount. Down payment can
be anywhere from 0% to 20%
depending on the lenders
requirements and the clients desire.
HOW MUCH?
Think of Closing costs like this…
The average Down Payment
amount is 3% or $3,000 for
every $100,000 in the sales
price of the home.
Let’s see some examples…
HOW MUCH?
Examples…
HOW MUCH?
Example 1:
I decide to purchase a home for $100,000. the average amount that the client would need to invest is 3%. What is the Loan Ammount?
The total amount that the bank is lending YOU is 97,000
100,000X 3%
3,000
100,000- 3,000
97,000
Examples…
HOW MUCH?
Example 2:
I decide to purchase a home for $200,000. the average amount that the client would need to invest is 3%. What is the Loan Ammount?
The total amount that the bank is lending YOU is 194,000
200,000X 3%
6,000
200,000- 6,000
194,000
It is important to know…
Closing
Costs
Down Payment
Total funds neede
d to purcha
se
HOW MUCH?
Think like this…
If Down Payment = 3%
And Closing Cost = 6%
The Total funds needed to
purchase is 9% of the sales
price of the home. Or 9,000
for every 100,000 in the sales
price of the home
HOW MUCH?
Examples…
HOW MUCH?
Example 1:
For a $100,000 house. I need…
100,000X 3%
3,000Closing Cost
100,000X 6%
6,000Down Payment
3,000+ 6,000
9,000Total funds
needed
Total settlement cost =$109,000
Examples…
HOW MUCH?
Example 2:
For a $200,000 house. I need…
Total settlement cost = $218,000
200,000X 9%
18,000
Presented by Trevor Ottswww.havenrealtycenters.com
HOMEBUYER ASSISTANCE PROGRAMS
Haven Realty Centers…
Offers 3 Homebuyer assistance programs to determine
which program is best for you.
It will be necessary to consider your credit score,
your income and your financial savings.
NO ONE WILL BE TURNED AWAY!
ASISTANCE PROGRAMS
They are…
Program #1: The buyer assistance program
Program #2: The rent to own program
Program #3: The credit intervention program
ASISTANCE PROGRAMS
These Program is…
for clients with OK to
great credit, but low
on cash to invest into the
home purchase
transaction.
BUYER ASSISTANCE PROGRAM
These Program is…
Federal Housing
Administration
Requires approximately a 3% down payment
Not a credit based loan.
Purchaser can
receive funds
from 3rd party
agencies.
ADDI, HPAP, CDA
Non profit agency that
provides down payment
assistance to home buyers.
Requires participatio
n by the Buyer and
Seller.
SAP– Seller
Assistance ProgramSeller contribute the necessary
funds on behalf of the purchaser thus allowing the purchaser to own their home for little to no
money out of pocket.
BUYER ASSISTANCE PROGRAM
These Program is…
For clients with damaged
credit and some funds
saved for investing into
the transaction. (Usually
one percent of home
purchase price).
RENT TO OWN PROGRAM
These Program is…
Clients in this program agree to rent a home for a period of 1 to 3 years. During that period of time the customer agrees to work earnestly on repairing credit issues. Afterwards client will be able to acquire a loan and take ownership of the home.
There are rent to own programs in Prince George’s County, Montgomery County, Baltimore, Charles County and Washington D.C. These homes are sponsored by participating realtors and sellers. They are considered on a case by case basis and include factors such as a client’s credit score, income and financial savings.
Clients in the Rent To Own Program must me enrolled in a credit intervention company. The client may choose their own credit intervention company. The cost for credit intervention is the clients responsibility.
RENT TO OWN PROGRAM
These Program is…
Low credit High commitment
Client must seek professional help with their credit. The client must pay for this service
Client must have saved the equivalent of first and last months rent
Client will not be able to look at homes until steps 1 thru 3 are complete
RENT TO OWN PROGRAM
These Program is…
For clients who lack
the necessary
credit and funds necessary to purchase a
home.
CREDIT INTERVENTION PROGRAM
These Program is…
DIY (Do It Yourself) Credit Intervention
• Provide you with the necessary literature to dispute and repair your credit.
Intermediate Credit Intervention
• A low cost solution to credit restoration. A specialist charges a monthly fee between 35 and 75 dollars depending on the severity of the case.
Aggressive Credit Intervention
• For those who want immediate results. This is an attorney driven credit restoration.
RENT TO OWN PROGRAM
Presented by Trevor Ottswww.havenrealtycenters.com
ENROLLMENT & CREDIT AUTHORIZATION FORM
Of…
ENROLLMENT
Client must turn in pages 2, 3, 4
and 13 at the front.
To enrollment fee is $65 for
individuals and $85 for couples.
Presented by Trevor Ottswww.havenrealtycenters.com
QUESTIONS?
ALWAYS FOLLOW YOUR
DREAMS.
Presented by Trevor Ottswww.betterlifebettercredit.com
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