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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