Transcript Slide 1

New Educational Offerings for Real Estate Agents
Thomas Walker
Business Relations Manager
Removing Barriers To Homeownership
(3 Hours Civil Rights Credit)
• If you must leave the room please watch your time. In order to
receive CE credit for this class you must:
• Be present 90% of the class.
• Sign in at the beginning of the class and sign out at the
end of the class. Please make sure to include your
salesperson license # for the certificate.
• If stepping out of the class, please watch your time.
• Class will end around 12:15pm OR 4:15pm.
• Attendees must sign out at the end of the class to
receive credit.
Online Registration
https://www.ohiohome.org/Registrations/RealEstate
Class Overview
• Introduction
• Overview of the Ohio Housing Finance Agency (state agency)
• Fair Housing and Civil Rights
o Case Studies
• Advertising
o Case Studies
• Fair Lending
o Case Studies
• Homeownership Programs to Remove Barriers to
Homeownership
During this class I hope to educate you on Fair Housing and Civil Rights.
Don’t make bad decisions when providing housing!
1.
http://www.youtube.com/watch?v=bGpVpsaItpU
2.
http://www.youtube.com/watch?v=84k2iM30vbY
Case Studies
Focus on the Property Not on the People
When Advertising
• Do not indicate a preference in your advertising of who the
property would be “good” for or might want to live in that
area
• Examples:
• “Great house for a single person”
• “Great house for a family”
• “Rental unit for adults only. No kids allowed”.
• “Christian churches nearby.”
• Please see the link below for a complete listing of HUD
advertising regulations.
http://www.hud.gov/offices/fheo/library/part109.pdf
http://www.youtube.com/watch?v=7dyazzbnH8Y
FHA Loans
Purchase Price
2.5% Down Payment Assistance (2.5% of 3.5%)
2% Closing Cost Assistance (based on loan amount)
Total OHFA Assistance
$100,000
$2,500
$1,930
$4,430
•
Not including $2,000 in closing costs (2%) requested from the seller to cover any
additional closing fees to limit out-of-pocket expenses for the borrower.
•
In addition to $4,430 in OHFA assistance, homebuyers may receive up to a
$2,000 mortgage tax credit each tax year.
•
Closing costs provided are an approximate number and vary for each lender.
__________________________________________________________________________________________
Approximate out of pocket funds for 1% down payment and closing
costs:
$1,000
Common Combinations of Conventional Loans
Think of the First-Time
Homebuyer Program
(Conventional or
Government) as the
meat of the burger and
the additional toppings
(DPA,MTC,CCA) can
be added to the loan.
First-Time
Buyer
Heroes
First-Time
Homebuyer
First-Time
Homebuyer
Down
Payment
Assistance
Grants for
Grads
Down
Payment
Assistance
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
Closing Cost
Assistance
Closing Cost
Assistance
Closing Cost
Assistance
Common Combinations of Government Loans
First-Time
Homebuyer
First-Time
Homebuyer
First-Time
Buyer
Heroes
Home
Rehabilitation
and Repair
Home
Rehabilitation
and Repair
Down
Payment
Assistance
Grants for
Grads
Down
Payment
Assistance
Down
Payment
Assistance
Grants for
Grads
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
MTC Plus(Using OHFA
Loan)
Closing Cost
Assistance
Closing Cost
Assistance
Closing Cost
Assistance
Closing Cost
Assistance
Closing Cost
Assistance
Ohio Housing Finance Agency
Thomas Walker, Business Relations Manager
(614) 466-9920 | [email protected]
Jonathan Duy, Real Estate Relations Manager
(614) 387-5037 | [email protected]
www.ohiohome.org
57 East Main Street
Columbus, OH 43215
Toll Free: 888-362-OHFA (6432)