Lunch and Learn - OmniUpdate

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1. HOME BUYING CLASS PRESENTED for omniUpdate

2. MEET John

3. About REDFIN On Your Side Your Redfin Agent guides you through each step and is accountable to get you the right home — not just any home. Smarter & Faster Move quickly and confidently with our easy online tools and the most complete and accurate home sales data available. You Get More Get full service and better results while saving thousands in fees. 100 % Team Support You’ll work with a team of real estate pros, so there’s always someone ready to help. A better way to buy & sell

4. Local Real Estate Trends Home-Buying Process Finance Your Home Home Selling Introduction Conclusion AGENDA

5. 1 LOCAL REAL ESTATE TRENDS

6. LOOK UP YOUR LOCAL STATS! Search redfin.com for your city, neighborhood, or ZIP code to find the most current real estate statistics Updated every 15–30 minutes

7. 2 Home buying process

8. Rent vs. own Length of ownership Life changes ( family, job) Personal finances Before you buy

9. Overview of the home-buying process Research Search for Homes 1 2 Finance Your Home 3 Make Your Offer 4 Closing Process 5

10. RESEARCH Home wish list Location & neighborhoods Mortgage loans & pre-approval Real estate agents & reviews 1

11. SEARCH FOR HOMES Create a wish list for home features Check out open houses See homes in person on home tours Save searches on Redfin and get notifications via email and the Redfin app 2

12. 2 1 SEE HOMES IN PERSON

13. 3 Finance your home

14. TYPES OF LOANS Conventional: As low as 5% down Fixed or adjustable rates, conforming or non-conforming Federal Housing Administration Loan (FHA): Always have mortgage insurance Buyers need only a 3.5% down payment Jumbo Loan: Larger down payment required More restrictive debt-to-income ratios VA Guaranteed Loan: Veterans, active duty personnel, reservists/national guard, surviving spouses No down payment

15. LATEST MORTGAGE RATES Type of Loan February 25th, 2016 February 8 th , 2016 30-Year Fixed 3.65% 3.72 15-Year Fixed 2.93% 3.01% 5/1 ARM 2.79% 2.85%

16. Getting pre-approved Income Salary — Past 30 days Hourly — Consistency & History Self Employed — Two-year average Assets Down Payment Closing Costs Cash Reserves Credit 640 for FHA 680 for Conventional 720 for Rate Improvement

17. MAKE YOUR OFFER Pricing & comparables Common contingencies Negotiations Mutual acceptance 4

18. The closing process * *Steps in the closing process can vary by market — ask your agent for more details about closing in your market. 5 6 7 8 Schedule a professional home inspection. Your agent will have recommendations. Select your lender and submit your loan within three days of mutual acceptance . Take your final walk-through to look for any more issues since the inspection . Sign all of the paperwork at your closing appointment . 10 9 11 Receive your keys, take possession, and get moving ! Receive your Redfin commission refund (may be applied to closing costs). Complete the Redfin survey for your agent . You’ve found the house you want and submitted an offer that was accepted by the seller. From this point forward, every step brings you closer to home ownership. Some deadlines can arrive quickly, so make sure to have your ducks in a row for what comes next. Success! The seller has agreed with your price & terms — you’ve achieved mutual acceptance. Deposit your earnest money to prove you’re serious about the offer. The seller will disclose any known problems with the property . Your title company will review the ownership history and title for liens, encroachments, and easements. 1 2 3 4

19. CONGRATULATIONS! YOU BOUGHT A HOME!

20. 4 Recap

21. Home Buying Timeline * *Steps in the home buying or selling process can vary by market — ask your agent for greater detail about the steps of buying or selling in your market. Search for homes on redfin.com or the Redfin app for iPad , iPhone, or Android. Find a real estate agent. Tour homes with your agent. Get pre-approved for a home loan. Find your dream home . Consult your agent to make an offer. Your agent negotiates the deal with the seller’s agent. You’ve reached mutual acceptance. Congratulations ! 1 2 3 4 5 6 7 8 Deposit your earnest money to prove you’re serious about the offer. The seller will disclose any known problems with the property . Your title company will review the ownership history and title for liens, encroachments, and easements. Schedule a professional home inspection. Your agent will have recommendations . Select your lender and submit your loan within three days of mutual acceptance . 11 10 9 12 13 Take your final walk-through to look for any issues since inspection. Sign all of the paperwork at your closing appointment . Receive your keys, take possession & get moving! Receive your Redfin commission refund (may be applied to closing costs). Complete the Redfin survey for your agent . 14 15 16 17 18 The road to buying a home usually starts with an online search and ends the moment your agent hands over the keys to your new house. It may seem daunting, but you can do it!

22. Explore our online tools, including the Redfin Home Affordability Calculator to find out how much home you can afford, and the Redfin Home Value Tool to see how much your home is worth. Take Redfin with you: Download the Redfin real estate app for iPhone, iPad , and Android. Claim your home on Redfin and receive monthly home reports. Sell your home: Homes listed with Redfin are viewed three times as often as other homes and sell for $5,100 more on average — for only a 1.5% listing fee. Check out more classes, including market trends, mortgages, home selling classes, and more at redfin.com /events. GET MORE FROM REDFIN

23. Thank You for Coming! John Venti [email protected]