FIRST BANK MORTGAGE ERIC LAWRENCE FRAZIER MBA Vice President and Mortgage Advisor NMLS 461807 First Bank is a family owned full-service Consumer and Business bank since 1910. Go to www.firstbanks.com and learn about the 4th generation Family that is leading the bank. Meeting Location: Southern California 104 E. Ontario Ave Corona, CA 92879 11010 Limonite Ave. Mira Loma, CA 91752 7710 Limonite Ave. Jurupa Valley CA 92509 5195 Lakewood Blvd. Lakewood, CA 90712 Office: 800-261-1634 ext. 703 Cell: 714 -475-8629 Cell: 510 -871-0055
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FIRST BANK MORTGAGE ERIC LAWRENCE FRAZIER MBA Vice President and Mortgage Advisor NMLS 461807 Meeting location: Northern California 1700 North Broadway, Walnut Creek, CA 94596 13830-A San Pablo, San Pablo, CA 94806 116 Springstowne Center, Vallejo, CA 94591 Office: 800-261-1634 ext. 703 Cell: 510 – 871-0055 Cell: 714 -475-8629 3
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THE POWER IS NOW & FIRST BANK • The Power Is Now Inc., as a Media Company, endorses
First Bank to provide lending programs for first time homebuyers, move up buyers, investors, churches, non-profits and foreign nationals. • The view and opinions of myself or The Power Is Now do not necessary reflects the views of First Bank
YOUR RESOURCE FOR HOMEOWNERSHIP W W W.CA LENDLY.COM/THEPOWERISNOW
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The Power Is Now Realtor Resources TO BUILD YOUR BUSINESS & YOUR BRAND ONLINE https://thepowerisnow.com/media-kit/
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Apply To Buy Now! FIRST BANK MORTGAGE Direct line: 714-475-8629 Start the Process Now www.neverrentagain.com www.applytobuynow.com
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FIRST BANK MORTGAGE ERIC LAWRENCE FRAZIER MBA Vice President and Mortgage Advisor NMLS 461807 Take Out Your Cell Phones www.Thepowerisnow.com Footer of the website: 1. Down Load my Mobile App. 2. Schedule an appointment to talk about your situation. www.Calendly.com/Thepowerisnow 3. Start the Application tonight at www.applytobuynow.com 4. Read the Presentation. 10
12 REASON WHY YOU SHOULD BUY NOW! GET PREAPPROVED TODAY www.applytobuynow.com 11
12 REASONS TO BUY NOW Having reservations is normal. The more you know about why you should buy a home, the more focus you will be on getting ready. If you buy before you are ready, there can be major financial consequences.
If you are ready and buy too much house, you can become house poor, which can lead to cashflow problems and credit issues and putting the house itself at risk.
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12 REASON TO BUY NOW Can you qualify? Income and Credit Do you have reserves? Down Payment, Closing Cost and Reserves. Do you have a budget and are saving money? Are you ready? Job Stability and Income Stability Are you clear on why you need to buy? That may be reason why you haven’t bought. ◦ The market conditions may have you waiting ◦ The interest rates may have you waiting ◦ The economy may have you waiting
Here is the reality? The best time to buy is when you can buy.
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WHEN ARE YOU ABLE TO BUY? oWhen Opportunity presents itself. oWhen You have the income to qualify oWhen You have money for the down payment
oWhen You have the health and strength oWhen You have family and moral support oWhen all of these things line up you are ready to buy
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12 REASON TO BUY NOW oCalifornia has reduced its funding for the creation of affordable homes by 79%, from approximately $1.7 billion a year to $36 million - nearly nothing for a state the size of California
oAccording to the California Housing Consortium, California has a shortfall of 3.5 million affordable units for extremely-low and very-low income renter households. oThe Public Policy Institute of California reports that 32% of mortgaged homeowners and 47% of renters spend more than one-third of their total household income on housing.
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12 REASON TO BUY NOW oWhile California has 12% of the nation's population, it has 22% of the nation's homeless. oToday’s population of 39 million is expected to grow to 50 million by 2050. oThere are three cities with more than one million residents, LA, SD, SJ, there are 107 cities with less than 10,000 residents.
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12 REASON TO BUY NOW oCalifornia’s 39 million people live in 13 million households across 58 counties and 482 cities. Through 2025, the highest percentage of household growth is expected to occur in the Bay Area, Southern California, and Central Valley communities oBetween 2014 and 2015, approximately 25 percent of population growth came from migration from other states and countries;
o75 percent of population growth was attributable to births within California.
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12 REASON TO BUY NOW oCalifornia's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday. California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said oWith a GDP of $2.9 trillion, California would slot between Germany and the United Kingdom in the world's top economies. oThe Golden State makes up 14% of the US economy 18
12 REASON TO BUY NOW The lack of affordable housing units is driving an epidemic of homelessness. Even many people who don’t become homeless often cannot afford to live in urban areas, and have to move to far-flung suburbs and commute hours to where the jobs are, worsening traffic and air pollution.
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WE ARE IN CRISIS The state of California is in a housing crisis: Generally speaking, a housing crisis may occur anywhere affordable housing becomes extremely scarce. Housing crisis may more specifically refer to: Homelessness in the United States.
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WE ARE IN CRISIS So how did we get to this point? A shortage of housing inventory, a deepening construction labor shortage and high land costs are fueling the crisis, according to Robert Dietz, chief economist for the National Association of Home Builders. “Affordability is getting worse,” he said. “We’re definitely in the first half of it.”
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WE ARE IN CRISIS The NAHB (National Association of Home Builders.)/Wells Fargo Housing Opportunity Index shows that the peak of housing affordability was reached in 2012 when 78% of new and existing home sales were affordable for a typical family based on their incomes and current interest rates. By the third quarter of 2018, that score of 78 had plummeted to 56, meaning only 56% of home sales were affordable. NAHB’s projections show that in 2019 the index is likely to fall below a level of 50.
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12 REASON TO BUY NOW CALIFORNIA Here are 12 good reasons you should buy a home now
State of California is in a housing Crisis
Home values are increasing, and you will eventually get priced out. Rents are increasing and you will be eventually get priced out. Interest Rates are low and so qualifying now is easier than it will be later. They are starting to increase now. Down Payment Assistance is Available but may not become more restrictive and not available in the future. Credit and Underwriting guidelines may become more strictive as the economy contracts and goes into a recession. 23
12 REASON TO BUY NOW CALIFORNIA Here are 12 good reasons you should buy a home now
Inventory is low and will most likely remain low for the next decade fueling appreciation because of an imbalance of supply and demand. You must buy now or pay more later. New Construction is expanding but slowly as to not repeat the GFC. Construction lending is tighting and builders have become risk adverse. In addition the cost of labor, land and material are driving the price of new homes up. Entry level homes for first Time Home buyers are virtually non-existent with starting pricing in rural areas at 400k and city 700k
Home Equity Appreciation is the beginning of building wealth. Right now you have a negative net worth if you have any debt and no cash. 24
12 REASON TO BUY NOW CALIFORNIA Here are 12 good reasons you should buy a home now
Reduces your tax liability and allows you to take home more money
Provides stability for your family – no more moving around from place to place chasing lower rents.
Lock in your housing expense for 30 years. No more rent increases forcing you to move or downsized.
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Apply To Buy Now! FIRST BANK MORTGAGE Direct line: 714-475-8629 Start the Process Now www.neverrentagain.com www.applytobuynow.com
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FIRST BANK MORTGAGE ERIC LAWRENCE FRAZIER MBA Vice President and Mortgage Advisor NMLS 461807 Take Out Your Cell Phones www.Thepowerisnow.com Footer of the website: 1. Down Load my Mobile App. 2. Schedule an appointment to talk about your situation. www.Calendly.com/Thepowerisnow 3. Start the Application tonight at www.applytobuynow.com 4. Read the Presentation. 27
YOUR RESOURCE FOR HOMEOWNERSHIP W W W.CA LENDLY.COM/THEPOWERISNOW
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