Equity Resources Inc How to use the equity

Equity Resources, Inc.

How to use the equity in your current home to buy your next home. What are today’s “hot” mortgage products?

Three ways to use the equity in your current home to buy your next home i. Sell your current home a. Which came first the chicken or the egg? b. Benefits of applying for a loan now ii. Utilize a bridge loan a. What is a bridge loan? iii. What if I can’t sell my current home in time? a. 100% financing with two loans b. Give example 1. * Another creative way? 2. * What are your long term and short term goals?

Terms to Know Conventional/FHA/VA/Alternative loans Fixed vs. ARM SFR/Condo Warrantable and non-warrantable Loan size limits Conforming and non-conforming FHA Alternative mortgage Seller Contributions What is in my best interest? Mortgage Insurance Predatory Lending Bait and Switch Inflated Appraisals vs. Fair Market Value

Today’s “Hot” Mortgage Programs a. b. c. d. e. f. g. Interest only programs a. Can it be a fixed or an adjustable loan? Combo loans a. 80/20 – new with conventional b. 80/15/5 c. 80/10/10 No PMI a. Conventional programs with 5% down b. 100% LTV Alternative mortgage products a. Due to credit b. Due to down payment c. Due to no mortgage insurance d. Higher qualifying ratio e. 40 Year mortgages f. Jumbo mortgages Stated income program or NINA program ARM loans (1/1, 3/1, 5/1, 7/1, 10/1) a. Conventional, FHA or alternative mortgage products b. Truth about 1% or 1. 75% interest rates c. Be informed (see “shopping around” questions) Questions you may have about a product you heard about?

Rate Environment Historic low interest rates Today’s level Always ask “Is my interest rate locked and for how long? ” Projected mid year and end of year Impact on buying a home

Process Smooth and Easy Three easy ways to apply No application fee – no risk to you! Face to face, email or phone Laws to protect you GFE within three days Trust your gut (walk away) Our goal is to make you a “Raving Fan!” Free approvals and free appraisals

Free FREE APPROVALS = which could save you thousands at contract time FREE APPRAISALS = for those here today ($300 value) We want the opportunity to earn your business! Perfect scenario What’s in my credit score? FREE REPORT FREE CREDIT REPORT New law March 1 st