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10 UNEXPECTED INSIGHTS FOR FIRST-TIME HOME BUYERS
This presentation consists of insights from the professionals at America One Mortgage Group®.
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Table of ContentsPage 4
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How to Pay Down Your Mortage Quicker
Using 401k or IRA Retirement
Sweat Equity
Down Payment
School District
Boundary Questions
Things to Consider During Inspection
HOA Documents
Qualification
Biggest Source of Stress
Additional Help
America One Mortage Group
Credits
To pay down your mortgage quicker and own your home sooner:
Insight #1
To pay down your mortgage quicker and own your home sooner:
Make bi-weekly or weekly payments
Insight #1
To pay down your mortgage quicker and own your home sooner:
Put extra money toward the mortgage when you can afford it
Insight #1
To pay down your mortgage quicker and own your home sooner:
Check out these extra tips from Tony Robbins’ MONEY: Master the Game
Insight #1
Insight #2
Consider using your 401K or IRA retirement accounts as source for your down payment. Depending on the type
of retirement accounts you have, you may be able to make withdraws for a 1st time purchase without penalties or taxes, or you may be able to borrow against it.
Insight #3
Sweat equity can save thousands. If you have the skills, time and patience to live
with dust and debris for a little white, do-it-yourself home improvement projects can
save you a huge chunk of money.
Insight #4
Definitely consider a down payment. Putting some money down is a good idea
for any homebuyer because it minimized your risk and lets you start off with some equity.
Insight #5
Your school district will affect your home’s value. Even if you don’t have kids,
be sure to look into a neighborhood’s school district before buying a home, as living in an area with a sought-after school system
raises your property value.
Insight #6
Answer boundary questions early on. You can’t always rely on the seller’s knowledge
of the property, so getting a land survey will clear up any uncertainty.
Insight #7
Dig deep during inspection. Things to consider:
Stucco issues
Insight #7
Dig deep during inspection. Things to consider:Roofing materials
Insight #7
Dig deep during inspection. Things to consider:Building materials
(consistency in the architectural style)
Insight #7
Dig deep during inspection. Things to consider:Electrical wiring
Insight #7
Dig deep during inspection. Things to consider:
Moisture stains around the ceiling, walls or windows
Insight #7
Dig deep during inspection. Things to consider:
Faulty wiring
Insight #7
Dig deep during inspection. Things to consider:
Heating/cooling system defects
Insight #7
Dig deep during inspection. Things to consider:
Insulation and ventilation in the attic
Insight #7
Dig deep during inspection. Things to consider:
Potential environmental problems
Insight #8
While your HOA documents aren’t exactly fun to read, be sure to carefully review everything if you want to avoid unpleasant surprises down the road.
#ProTip: Talk to residents in the neighborhood and get opinions on
how well the HOA does its job.
Insight #9
Don’t feel obligated to spend every dollar you qualify for. If you don’t, you can open yourself
up to more options and better possibilities.
Insight #10
The biggest source of stress for first time homebuyers is a confusion with the escrow and mortgage process. Be sure to get this
explained to you from the experts so you’re prepared. Be sure to research Yelp or Zillow for an agent’s past performance.
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Presentation created by ChaseJennings.co
Insights by Mark Luciani
