The 1st Time Home Buyer in Todays Market

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The 1st Time Home Buyer in Todays Market
April, 2009
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What Does Homeownership mean to you?
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What We Know About Homeownership

• Homeownership is a key part to asset-building for
  families
• Homeowners make for Healthy neighborhoods
• Homeownership helps develop successful families
• Homeownership in America is a strong part of our
  culture
• highest overall homeownership rates in U.S.
  history (68)
• Owning a home can save you money on taxes
• 1st Time Home Buyers contribute heavily to
  household growth in the market.

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Homeownership Rates Across the World
Percent
Note China rate refers to urban areas
only.Source National Association of Realtors,
U.S. Census Bureau, and Y.P Wang, Progress and
Problems in Urban Housing Reform.
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Whats on the mind of the 1st Time Home Buyer ?
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New research reveals the typical brain of the
1st Time Home Buyer
Feng Shui
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How do we give clarity to the 1st Time Home
buyer ?

• We Make sure you work with the best
• We help show you the path to home ownership
• We will be there to help answer your questions.
• We will help make the complicated clear and
  simple
• We will Build your Trust to become your choice
  for for all your home lending needs

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Whats in the market for the 1st Time Home
Buyers today

• Low Interest Rates
• Home Affordability
• Tax Credits
• FHA financing
• VA 100 financing
• USDA 100 financing
• Conventional Financing

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First-Time Home Buyer Tax Credit

• Congress Enacts Bigger and BetterHome Buyer Tax
  CreditA tax credit of up to 8,000 is now
  available for qualified first-time home buyers
  purchasing a principal residence on or after
  January 1, 2009 and before December 1, 2009.
  Unlike the tax credit enacted in 2008, the new
  credit does not have to be repaid.
• First-time home buyers who purchased a principal
  residence on or after April 9, 2008 and before
  January 1, 2009 may qualify for a 7,500 tax
  credit. This is a interest free loan paid back
  over 15 years.

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FHA Financing FHA is now the 1 mortgage
program in America.

• ADVANTAGES
• Government Backed program that has helped over 35
  million home buyers since 1934
• Secure Fixed Rates with a 30,20 or 15 year
  amortization options
• One of the lowest down payment options today (as
  low as 3.5)
• Family help with Down Payment allowable
• Gift funds for down payment and closing costs are
  allowed, Gift funds can be from family members or
  the Gift can be a loan from immediate Family
  members.
• Great choice for those that have had some credit
  challenges
• Seller can contribute up to 6 of purchase price
  toward closing cost and discount points to help
  you purchase.
• FHA loans may be assumable (great for selling
  later in a higher rate market)

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Are You Still Renting ?
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Why make another rent payment ?
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Renters have far lower levels of Net Wealth when
compared to Homeowners(Median Net Wealth 2007)
Source Joint Center for Housing Studies
tabulations of the 2007 Survey of Consumer
Finance.
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KISS YOUR LANDLORD GOODBYE!
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But I hear that lenders are only lending to
people with Excellent Credit Scores.
This is just not true
Dear , I'm in the market for a house and have
recently heard that lenders are getting much
tighter with their lending practices, and that
even people with good credit are going to find it
harder to get a loan. I have a score of 756,
should I be worried that I won't get a loan?
GET THE FACTS

• There is MONEY to lend today
• Its Back to the Basics ( the 3 Cs )
• Credit, Capacity, Collateral
• FHA, VA and USDA are strong options for
• 1st time buyers in todays market

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Historically Low Mortgage Rates
In the mid 80s rates where as high as 30yr
fixed 17.50 1990 Avg 30yr fixed was 9.90 2000
Avg 30yr fixed was 8.20 Today rates have been
at record lows. April 2009 The 30yr fixed has
been as low as 4.75
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Affordability
Lets take a look at Principal and Interest
payments at different rates, so lets assume a
loan of 150,000 on a 30yr payment schedule

• 17.5 Monthly PI 2,199.48
• 9.9 Monthly PI 1,305.28
• 4.75 Monthly PI 782.47

Combine this with today's great home prices and
you have one of the most affordable times in
history to buy your 1st home.
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Why not start your journey today?
CALL TODAY 208-983-7602
Loan approval is subject to program guidelines.
Not all loan programs are available in all states
for all loan amounts. Interest rate and program
terms are subject to change without notice. Rev.
5/08