Make Your Move

Table of Contents

Lesson  1 – YOU  WANT TO BUY A HOUSE.  WHERE DO YOU BEGIN?

• Your Finances: What a Lender Wants to Know About You
• Getting Your Finances in Order—             

Lesson  2 – HOW IS YOUR CREDIT HISTORY?

• Your Credit Report
• Evaluating Your Credit Information
• Correcting Errors on Your Credit Report
• Credit Repair Clinics
• Rebuilding Your Credit—             

Lesson  3 –  WHO IS INVOLVED IN THE HOME-BUYING PROCESS?

• Learn the Definitions of the Buyer, Seller, Loan Officer and Other Participants
• Understand Three Basic Truths of Mortgage Lending

Lesson  4 –  FIND THE RIGHT LENDER AND LEARN TO AVOID PREDATORY PRACTICES

• Choose a Lender
• Predatory Lending “Red Flags”
• Ways to Protect Yourself against Predatory Lending Practices
• What to do if You Think You are the Victim of Predatory Lending Practices
• Know Your Rights as a Home Buyer

Lesson  5 –  GETTING PRE-QUALIFIED OR CREDIT APPROVED

• What is the Difference between Pre-Qualification and Credit Pre-Approval?
• Financial Information You’ll Provide when You Meet with a Lender
• A Look at Your Employment History
• Determining Your Income
• What Monthly Debts do You Have?
• What are Debt Ratios?
• The House Payment (PITI)
• Escrow Accounts
• How Much Money Will You Need to Buy a House?
• Assistance Loans for Down Payment and/or Closing Costs

Lesson  6 – WHAT TYPES OF LOANS ARE AVAILABLE?

• The “Trailer Programs”
• The “Luggage Rack” Programs
• Other Financing Options
• Specialized Loan Programs
• What Parts Make Up A Loan?
• Should You use a “Fixed” Rate Loan or an “Adjustable” Rate Mortgage Loan?

Lesson  7 – SHOPPING FOR A HOME

• How Do You Find a Home to Buy?
• Using a Real Estate Agent
• What Types of Homes are Available?
• Shopping for an Existing Home
• Deciding to Build a Home—New Construction
• Making an Offer to Purchase a Home—Writing the Purchase Agreement, Presenting the Offer, Acceptance of the Offer

Lesson  8 – FINALIZING YOUR LOAN

• The Home Inspection
• The Appraisal
• Flood Certification
• Title Insurance
• Survey or Plot Plan
• Full Loan Approval

Lesson  9 -THE LOAN IS APPROVED – LET’S CLOSE

• The Closing
• What Should You Expect at Closing?
• Closing Costs
• Pre-Paid Expenses or Escrow Set-up Fees
• What Documents Might You Sign at the Closing?

Lesson  10 –  YOU ARE A HOMEOWNER! NOW WHAT?

• Making Your Payments
• What if You Can’t Make Your Payments?
• Refinancing Your Loan

Lesson  11 –  OWNING A HOME BRINGS JOYS, RESPONSIBILITIES

• General Maintenance
• Spring and Summer Maintenance
• Fall and Winter Maintenance
• Remodeling or Repairing Your Home
• Home Maintenance Now Can Help You Sell Your House Later
• The Joy of Being a Homeowner