2. HUD “Best Practices” Award
This presentation has stood the test of
time and guided many families in their
path to homeownership. My sincere
hope is that it will give each viewer the
straight forward information needed to
help make the Right decision for their
family.
Patti E. Ketcham, PKetcham@KetchamGroup.com
Thank You
3. Why own a home?
It is often cheaper to own than
rent!
Forced savings
Stop making someone else’s
mortgage payments
There is a last payment
4. Steps to Successful Home
Ownership…First Step:
How to slay the Credit and
Money Dragon…Get Pre-
Approved!!!
6. Steps to Successful Home
Ownership cont'd.
What your Lender needs:
Income: W-2’s and Tax Returns
Any bank statements
What you owe:
revolving/installment
7. Next Step: Choosing a Realtor
Role of the Realtor
How to pick one/ How to get rid
of one
8. How Realtors Are Paid
Sales Price: $100,000.00
x 6% commission(often paid by seller)
= $6,000
Listing Office - $3,000 Selling Office - $3,000
Then
Listing Realtor - $1,500 Selling Realtor $1,500
This is an example, all services and fees are negotiable.
9. Next Step: Choosing a Home
The Home—lots of choices!!!!
You will know
Resources: Police/Sheriff’s Dept
Utilities
Meagan’s Law Web Site
10. Making an Offer
Why that Pre-Approval Letter is so
GREAT
What is covered in a Contract
What is a binder/escrow/good faith
deposit and what happens to it
11. Making an Offer cont’d.
Buyer’s remorse
DEADLINES
Back to the lender
Completing the loan application
12. Buying a Home
How Much Will All This Cost?
Who Is Involved In All This and
What Do They Do?
13. Who’s Involved In the Process
and What They Do
Realtor: Searches for home, negotiates
contract for purchase, assists in entire
process, attends closing, provides
guidance
You pick!
14. Who’s Involved In the Process
and What They Do
Mortgage Loan Officer: Credit
approval, loan application, will guide you
through the financing process
You pick!
15. Who’s Involved In the Process
and What They Do
Home Inspector: Inspects home for
any structural or maintenance concerns
You pick!
16. Who’s Involved In the Process
and What They Do
Appraiser: Estimates value of home
Lender picks
17. Who’s Involved In the Process
and What They Do
Termite Inspector: Checks for any
wood destroying organisms
Buyer or Seller picks
18. Who’s Involved In the Process
and What They Do
Surveyor: Marks the four corners of
the lot and draws house placement on
lot
Buyer or Seller picks
19. Who’s Involved In the Process
and What They Do
Home Owners Insurance Agent:
Insure home against loss from fire, etc.
You pick
20. Who’s Involved In the Process
and What They Do
Closing Agent/Attorney: Provides
proof of clear title to home and closes
loan
Buyer or Seller picks
22. HELPFUL RESOURCES
Here is a listing of resources clients
have found helpful for a variety of
purposes.
STOP ANNOYING PHONE CALLS
Department of Agriculture and Consumer
Service
1-800-435-7352 or www.800helpfla.com
The National Do Not Call Registry
1-888-382-1222 or www.donotcall.gov
23. THE MEGAN'S LAW WEBSITE:
WHO ARE YOUR NEIGHBORS?
www .fdle.state.fl.us
CRIME STATISTIC'S FOR A
NEIGHBORHOOD
Sheriff's Department
Police Department
26. Stop Unsolicited Mailed Credit
Offers:
Credit Bureau Opt-Outs: 1-888-567-8688
If you wish to limit the number of pre-
approved credit solicitations that you receive
you may contact the National Opt-Out Center
to have your name removed for two years
from all of the major credit bureau mailing
lists.
27. Thank You for Your Time and
Attention
Any Questions?
28. Good Tools for Realtors::::::
Lots and lots and lots of good stuff!!!
The next several slides are resources
gathered by Florida Realtors.
Thank You!!!!
29. TOOL TIME!
FAR HOME BUYER CENTER
http://www.floridarealtors.org/AboutFar
/homebuyercenter/index.cfm
30. Florida Realtors
Florida Realtors® ‘Support Homeownership for All’
Over the past two years, the state association received $280,000
in Ira Gribin grant funds from the National Association of Realtors
to support workforce housing programs. In coordination with its
nearly one dozen partners in the Sadowski Coalition, Florida
Realtors works to educate Florida legislators about the long-term
value of supporting workforce housing. Through the program,
funding also goes to local Realtor associations to assist first-time
and low-income homebuyers in ways best defined by local
conditions.
Eleven local associations have received part of the NAR grant
funding; the remaining funds will be used for a radio ad campaign
promoting Florida Welcome Home Week –
Homes for Hometown Heroes, July 11-17, 2010.
31. Florida Realtors
License Plate
Proceeds from the sale of the state’s Support Homeownership
for All license plate supports housing programs; a number of
housing foundations in Florida have received funding to further
develop their workforce housing initiatives. The goal is to provide
housing assistance to teachers, nurses and others unable to afford
a home. As of June 1, 2010, more than 8,471 license plates have
been sold, totaling more than $211,775.
http://www.floridarealtors.org/LegislativeCenter/LegislativeNews/H
omeownership-For-All-license-plate.cfm
33. Local Assistance Resources
South Florida Community Development Coalition
http://www.floridacdc.org/index.html
Miami-Dade’s Housing Finance Authority
http://www.miamidade.gov/hfa/
Neighborhood Stabilization Program, homebuyer assistance, Pasco
County
http://portal.pascocountyfl.net/portal/server.pt/community/neighb
orhood_stabilization_program/303/neighborhood_stabilization_pro
gram
Neighborhood Stabilization Program, City of Palm Coast
http://www.ci.palmcoast
34. Local Assistance Resources
The Realtors Association of St. Lucie Foundation Inc.’s Attainable
Housing Fund
http://www.rasl.com/
Daytona Beach Area Association of Realtors, area affordable
housing programs - Under search listings on home page, click on
Housing Opportunities:
http://www.daytonarealtors.com/
Greater Tampa Association of Realtors, Realtors Care Foundation
Formed to create and provide educational and housing programs
and services.
http://www.realtorscareofgtar.org/
35. Local Assistance Resources
Hernando County Association of Realtors
Hernando County down payment assistance program info:
http://www.hernandorealtors.com/template39/nextpage.asp?mnu=1
87957
Orlando Regional Realtor Association
Art in Architecture program: http://www.artinarchitecture.org/
Central Florida affordable housing program info:
http://www.artinarchitecture.org/6.asp
Pinellas Suncoast Association of Realtors, Pinellas Realtor Foundation
Provides funds, volunteers to support affordable/workforce housing,
education and other community issues.
http://tampabayrealtor.com/index.php?option=com_content&task=vi
ew&id=71&Itemid=83
36. Local Assistance Resources
Realtor Association of Greater Fort Lauderdale, Charitable
Foundation
Formed to help those with specific needs that cannot be met by any
other source.
http://www.realtorcharitablefoundation.com/
Broward Housing Partnership:
http://www.browardhousingpartnership.org/
Realtor Association of Greater Fort Myers and the Beach Inc.
Offers “gap” funding assistance to essential workers in the Greater
Fort Myers area so that they can purchase a home in the
community they serve.
http://www.snoopzone.info/affordableHousing.php
37. Local Assistance Resources
Realtor Association of Martin County, Partner Charity, Habitat for
Humanity of Martin County
http://www.ramconline.org/AM/Template.cfm?Section=Habitat_for
_Humanity_and_RAC&Template=/CM/HTMLDisplay.cfm&ContentID
=1542
Realtors Association of the Palm Beaches, Community Business
Partners, Habitat for Humanity, Palm Beach County, South Palm
Beach County Chapters
Click on Community on home page: http://www.rapb.com
38. State Assistance Resources
Florida Dept. of Community Affairs, Division of Housing and
Community Development
http://www.dca.state.fl.us/fhcd/index.cfm
DCA, Neighborhood Stabilization Program, Grants Management
http://www.dca.state.fl.us/FHCD/cdbg/StaffContacts.cfm#NSP
Florida Housing Finance Corporation (FHFC)
http://apps.floridahousing.org/StandAlone/FHFC_ECM/AppPage_H
omePage.aspx
FHFC Housing Resources
http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPag
e.aspx?PAGE=0040
39. State Assistance Resources
State Housing Initiatives Partnership (SHIP)
http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage
.aspx?PAGE=0132
SHIP Local Government Information
http://apps.floridahousing.org/StandAlone/FHFC_ECM/AppPage_SH
IPLGContacts.aspx
Affordable Housing Study Commission
http://apps.floridahousing.org/StandAlone/AHSC/AHSC-Home.htm
Florida Housing Coalition
http://www.flhousing.org/
40. State Assistance Resources
University of Florida’s Shimberg Center for Affordable Housing:
http://www.shimberg.ufl.edu/
http://flhousingdata.shimberg.ufl.edu/
Florida Community Loan Fund
http://www.fclf.org
1000 Friends of Florida
http://www.1000friendsofflorida.org/housing
41. Federal Assistance Resources
National Association of Realtors® Housing Opportunity Program
http://www.realtor.org/government_affairs/housing_opportunity
NAR Housing Opportunity Toolkit
http://www.realtor.org/government_affairs/housing_opportunity/h
optoolkit_home
NAR workforce housing info
http://www.realtor.org/government_affairs/housing_opportunity/w
orkforcehousing
NAR workforce housing, additional resources
http://www.realtor.org/government_affairs/housing_opportunity/w
orkforcehousingresources
42. Federal Assistance Resources
U.S. Department of Housing and Urban Development (HUD)
http://www.hud.gov/
U.S. Department of Veterans Affairs (VA)
http://www.va.gov/
VA Loan Guaranty Home Loan Program
http://www.homeloans.va.gov/
VA Mortgage Center
http://vamortgagecenter.com
NAR’s VA Loan Toolkit
http://www.realtor.org/government_affairs/va_toolkit_main?wt.m
c_id=rd0060
43. Federal Assistance Resources
Americans with Disabilities Act (ADA) website
http://www.ada.gov/
Homes for Heroes Inc. and the Homes for Heroes Foundation
http://homesforheroes.com
The Campaign for Affordable Housing
http://www.tcah.org/index.cfm
The Enterprise Foundation
http://www.enterprisecommunity.org/
FHA: The Federal Housing Administration
http://portal.hud.gov/portal/page/portal/HUD/federal_housing_admi
nistration
44. Federal Assistance Resources
Fannie Mae
http://www.fanniemae.com/kb/index?page=home
Freddie Mac
http://www.freddiemac.com/
Habitat for Humanity
http://www.habitat.org/
Harvard University Joint Center for Housing Studies
http://www.jchs.harvard.edu/
Housing Assistance Council
http://www.ruralhome.org/
45. Federal Assistance Resources
International Union for Housing Finance
http://www.housingfinance.org/
Low Income Investment Fund
http://www.liifund.org/
National Housing Conference
http://www.nhc.org/
National Low Income Housing Coalition
http://www.nlihc.org/template/index.cfm
Mortgage Bankers Association of America
http://www.mbaa.org/
46. Federal Assistance Resources
National Association of Mortgage Professionals
http://www.namb.org
American Bankers Association
http://www.aba.com/default.htm
National Association of Home Builders
http://www.nahb.com/
National Association of Housing and Redevelopment Officials
http://www.nahro.org/index.cfm
National Conference of States on Building Codes and Standards
http://www.ncsbcs.org/
47. Federal Assistance Resources
National Council of State Housing Agencies
http://www.ncsha.org/
National Multi Housing Council
http://www.nmhc.org/
NeighborWorks America
http://www.nw.org/network/home.asp
http://www.stablecommunities.org/
The Urban Institute
http://www.urban.org/
