Buyer's Guide_NAF

LET’S FIND

home!

ABOUT ME

Buying a home is one of life’s biggest milestones, and I am passionate about helping my clients find the perfect place to call home. I take the time to truly understand your needs, answer your questions, and ensure you feel comfortable and informed every step of the way. My approach is simple: provide honest advice, professional guidance, and exceptional service that makes the home buying journey exciting rather than overwhelming.

To deliver the best possible experience, I work closely with my mortgage partner so that you have support on both sides of the process. From understanding your budget and financing options to finding and securing the right home, we collaborate to keep everything on track and stress-free. Together, we make sure that when you get the keys, it’s not only a new house—but the right home for you.

Your Name Here REAL ESTATE AGENT

(314) 123-4567

CompanyWebsite.com

YourEmail@company.com

123 Address Street City, ST 12345

PAGE TWO | HOMEBUYER GUIDE

GLOSSARY Appraisal: A document that gives an estimate of a property’s fair market value; an appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.

Earnest Money: Money put down by a potential buyer to show that he or she is serious about purchasing the home; it becomes part of the down payment if the offer is accepted, is returned if the offer is rejected, or is forfeited if the buyer pulls out of the deal.

Escrow Account: A separate account into which the lender puts a portion of each monthly mortgage payment; an escrow account provides the funds needed for such expenses as property taxes, homeowners insurance, mortgage insurance, etc.

Home Warranty: Offers protection for mechanical systems and attached appliances against unexpected repairs not covered by homeowner’s insurance; coverage extends over a specific time period and does not cover the home’s structure.

Homeowner’s Insurance: An insurance policy that combines protection against damage to a dwelling and its contents with protection against claims of negligence or inappropriate action that results in someone’s injury or property damage.

Mortgage Insurance: A policy that protects lenders against some or most of the losses that can occur when a borrwer defaults on a mortgage loan; mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home’s purchase price.

PITI: Principal, Interest, Taxes, and Insurance - the four elements of a monthly mortgage payment; payments of principal and interest go directly towards repaying the loan while the portion that covers taxes and insurance (homeowner’s and mortgage, if applicable) goes into an escrow account to cover the fees when they are due.

PMI: Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.

Underwriting: The process of analyzing a loan application to determine the amount of risk involved in making the loan; it includes a review of the potential borrower’s credit history and a judgement of the property value.

PAGE THREE | HOMEBUYER GUIDE

THE BUYER ROADMAP This is a brief summary of the timeline for purchasing your home.

Remember, as your Real Estate Agent, I will be there to be sure you feel confident during each step of this process.

1

2

3

Interview

Pre-Approval

Search

Find the right Real Estate Agent for you

Meet with a lender and get a Pre-Approval letter

Begin your online home search

6

5

4

Escrow

Offer

Showings

Deposit escrow and complete loan application within time frame of the contract

After finding the right home, we will put in a strong offer and negotiate the terms of the contract

We will set up showings and view the homes you are interested in

7

8

9

Inspections

Financing

Last Steps

Schedule inspections and negotiate any repair requests and issues from inspection

Order appraisal and obtain homeowners insurance

10 Closing

Hooray! Time to sign all required paperwork at the title company. Once funded, you’ll get the keys and it’s time to celebrate.

PAGE FOUR | HOMEBUYER GUIDE

Receive clear to close from lender and perform final walk-through before closing

FINANCES Before you officially begin your home search, I always recommend to begin with talking to a lender and getting pre-approved. A lender will be able to answer all of your questions regarding finances and give you a clear understanding of the exact price range you will be pre-approved for and an estimate of the expenses to expect.

Questions to ask your lender...

• What is the best type of loan for me?

• Do I qualify for any special discounts or loan programs?

• What interest rate can you offer?

• When can you lock in my rate?

• What fees can I expect from you?

• What are my estimated closing costs?

PAGE FIVE | HOMEBUYER GUIDE

FINANCES PART 2 There a many different factors that the lender will use to calculate your Pre-Approval. It’s always best to be prepared, so here are a few of the documents you can begin to gather together and can expect to be requested:

Tax Returns

W-2 Forms

Pay Stubs

Bank Statements

List of Monthly Debt

PAGE SIX | HOMEBUYER GUIDE

STANDARD LOAN PROGRAMS CONVENTIONAL • Down Payment as Low as 3% • Fixed or Adjustable Rates • Down Payment Assistance Programs Available • Non-Occupying Co-Borrowers Allowed

FHA • Down Payment as Low as 3.5% • Lower Credit Score Flexibility • Higher Allowable Debt to Income Ratios • 100% Financing with DPA

VA • 100% Financing • No Monthly Mortgage Insurance Premiums • Flexible Underwriting Guidelines

USDA • 100% Financing • Lower Credit Score Flexibility • Gifts for Closing Costs Allowed

JUMBO • Borrow up to $3 Million • Credit Score as Low as 700 • Eligible for Primary Residence, Second Home or Investment Property • Warrantable and Non-Warrantable Condos Permitted

RENOVATION • FHA and Conventional Programs • Purchase or Refinance • Principal Residence, Second Home or Investment Property • Ability to Finance Repairs and Home Improvements

PAGE SEVEN | HOMEBUYER GUIDE

SPECIALTY LOAN PROGRAMS NAF CASH® • Allows Buyer to Become a Cash Buyer • Buyer Can Purchase New Home Without Selling Current Home • Conventional and VA Loans Allowable

LOCK IN & FLOAT • Lock In Your Rate - Rate Can’t Increase • If Rates Improve during Locked Period, You Can Float Down to a Better Rate

NAF BRIDGE LOAN • Use Equity From Your Existing Home Towards the Purchase of a New Home • Ability to Present a Strong Non-Contingent Offer, Giving You a Competitive Edge in the Market • No Monthly Payments During the Loan Term Reducing the Financial Stress of managing Two Mortgage Payments

BUYDOWN OPTIONS • Lower Interest Rate for the First Few Years of Mortgage • Available on Conventional, FHA VA and USDA Loan Products • 1/0, 1/1/1, 2/1, and 3/2/1 Buydown Options Available

DOWN PAYMENT ASSISTANCE • Additional Funds for Down Payment and Closing Costs • Chenoa • NAF Pathway Product Suite

RECAST OPTION • Borrower can Reduce the Principal Balance • New American Funding will Re-Amortize the Loan based on the Remaining Term and Payments will be Reduced • Multiple Recasts can be Completed during the Life of the Loan • PMI can be Eliminated in Some Scenarios

PAGE EIGHT | HOMEBUYER GUIDE

MY LENDER OF CHOICE ABOUT LO

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Your Name Here TITLE | NMLS# 123456

Let’s make your homeownership dream a reality.

(314) 123-4567

NAF.com/Name

Name@NAFinc.com

123 Address Street City, ST 12345 PAGE NINE | HOMEBUYER GUIDE

HOME SEARCH

As your Real Estate Agent, my number one goal is to help you achieve yours. I make it my priority to understand your situation when it comes to buying your home so we can accomplish your goals.

1 2 3

STEP ONE

After you speak with a lender and get Pre-Approved, we will begin your online home search. I will set you up on an automated search on the Multiple Listing Service (MLS).

STEP TWO

We will discuss your ideal price range, your must-haves list, deal breakers, location preferences, school districts, and all of the other factors that will help me to best help you during the home search period.

STEP THREE

When you decide you are interested in a home, we will schedule a showing to view the home in person. If you decide it meets your criteria, we will write an offer for the home. When we get an accepted offer, you will now be Under Contract.

PAGE TEN | HOMEBUYER GUIDE

IMPORTANT INFO What other factors will influence your decision?

(School zones, distance to work, specific neighborhoods, etc.)

What features are important to you in your new home?

What are the must-haves in your new home?

What are the deal breakers in a new home?

Any specifics not mentioned above:

PAGE ELEVEN | HOMEBUYER GUIDE

MUST HAVE HOME CHECKLIST Place a check mark next to any amenity that you consider a must have on your next home.

KITCHEN

MAIN LIVING AREA

Island

Walk-in closet

Updated countertops

Split floor plan

Walk in Pantry

Storage space

Updated cabinets

Master on main floor

Breakfast nook Updated appliances

ADDITIONAL FEATURES Hardwood floors

BA THROOMS

Fireplace

Double Vanities

Office

Bathtub

Formal dining room

Updated bathroom

Open floor plan

Walk in shower

Front porch

Guest bathroom

Separate laundry area Parking space

OFFERS & NEGOTIATIONS

INFORMATION NEEDED Before we begin writing an offer, we will need to gather some documents and discuss some important details...

•

Pre-approval letter

•

Offer price

•

Financing amount

•

Escrow deposit

•

Closing date

•

Inspection period

•

Closing costs

PAGE THIRTEEN | HOMEBUYER GUIDE

OFFERS & NEGOTIATIONS PART 2 ESCROW MULTIPLE OFFER SITUATIONS It’s more common than ever to see homes go into multiple offer situations. This means that your offer is not the only offer on the table for the sellers. Here are some of my best tips to win a multiple offer situation...

•

Submit your Pre-Approval letter with your offer

•

Have your lender call the listing agent to share your Pre-Approval details

•

Make a cash offer if possible

•

Offer more than the asking price

•

Be flexible with your closing date

•

Offer a higher amount for the Escrow deposit so the seller knows that you are serious

•

Keep your offer clean when it comes to contingencies and don’t ask for any that are not a deal-breaker for you

Congrats! We are almost there.

You will turn in your Escrow Deposit, we will get inspections scheduled, negotiate repairs, and move forward with your loan application.

The entire process from contract to close typically takes between 30-45 days.

PAGE FOURTEEN | HOMEBUYER GUIDE

INSPECTION PERIOD TYPES OF POTENTIAL INSPECTIONS •

Home Inspection

•

Radon Testing

•

Wood-Destroying Organism (WDO) Inspection

•

Mold Inspection

•

Gas Inspection

•

Sewer Inspection

INSPECTION TIME PERIOD

The typical inspection period is between 10-15 days.

RECO MMENDED HOME INSPECTORS I have several Home Inspectors I would be happy to give you. Please feel free to reach out and interview some of the Home Inspectors that I shared, or you can use your own.

It is critical that we begin scheduling the inspections you choose to have done as soon as we are under contract on your potential new home. This will ensure that you do not run out of time or have any delays in the process.

PAGE FIFTEEN | HOMEBUYER GUIDE

DOS AND DON’TS During the Home Loan Process

DO

DON’T

•

Do educate yourself about the homebuying and home financing process, making sure that you meet your short and long-term financial goals.

•

Do stay in your job so your mortgage lender can verify your current employment status. Lenders will check your credit score & employment again just before closing.

•

Do stay current on all your payments, including payments for your mortgage, automobile, credit cards, student loans, and any other debt.

•

•

Do make sure to organize key documents, including check stubs, W-2s, tax returns, bank and investment statements, Note or Deed to other properties, etc.

Do document any part of your down payment that’s a gift. Ask for gifted funds as soon as possible with your Loan Officer’s guidance.

•

Don’t make any new large purchases with your existing credit cards, don’t buy a car. If you must make a major purchase, please call us so we can go over the impact on your ratios.

•

Don’t keep cash in a safe or an overseas account if it’s for a down payment. Inquire about the best time to put funds into your U.S. bank account.

•

Don’t close credit card accounts after you’ve paid them off.

•

Don’t apply for new credit or give your personal information to anyone else who might run your credit, which can hurt your credit score.

•

Don’t allow your bank accounts to go in the negative, even if you have overdraft protection.

•

Don’t make large deposits, withdrawals, transfers or financed purchases. If you must, then save the documentation itemizing these transactions.

PAGE SIXTEEN | HOMEBUYER GUIDE

PREPARING FOR CLOSING DAY 1

LOAN APPLICATION & APPRAISAL

2

HOME INSURANCE

3

IMPORTANT REMINDER

4

CLEAR TO CLOSE

You will typically have 3-5 days after the contract has been executed to make application for you loan with your lender. The appraisal will be ordered by your lender after we have made our way through the inspection period. If your contract is contingent on the appraisal, this means that if the appraisal comes back lower than the offer you made, we will have an opportunity to negotiate the price once again.

You will need to obtain a Homeowner’s Insurance Policy that will be begin on the day of closing on your home. If you don’t already have an insurance company you plan to work with, please feel free to reach out to me and I will be more than happy to provide you with a list.

As excited as you may be to begin shopping around for furniture and all of the things that help make a house a home, don’t! Be very careful during this period not to make any major purchases, open new lines of credit, or change jobs. If in doubt, be sure to call your Real Estate Agent or Lender.

These words are music to your ears, and mine, too! This means that that mortgage underwriter has approved you loan documents and we can confirm your closing date with the title company or attorney.

PAGE SEVENTEEN | HOMEBUYER GUIDE

“Real Estate is not simply a job for me, it is my passion.

I am dedicated to helping each and every one of my clients achieve their real estate goals and have an exceptional home buying experience.”

- Y O U R NA ME

Your Name Here REAL ESTATE AGENT

Thank you for choosing me to help you in the task of buying your home. I look forward to working with you to help you achieve all of your real estate goals.

This is not a loan commitment or guarantee of any kind. Terms and conditions apply. Subject to borrower and property qualications. Not all applicants will qualify. Rates and terms are subject to change without notice. 2025 © New American Funding, LLC. NMLS #6606. nmlsconsumeraccess.org https://www.newamericanfunding.com/legal/statelicensing/.

NAF Cash is fullled by NAF Cash, LLC, an affiliated real estate company of New American Funding that is managed and operated in compliance with applicable legal and regulatory requirements. NAF Cash, LLC. MI Real Estate Broker #6502431375. NAF Cash, LLC does not originate loans or issue loan commitments. NAF Cash, LLC charges a Transaction Fee of 1.5%-3.5% of purchase price for its service (fee varies by state). Terms and conditions apply, not available in all states. 41050 W 11 Mile Rd, Ste 220, Novi, MI, 48375. Phone 844344-0531. NAF Bridge Loan not available in MA, TX. NMLS ID #6606. 2025 © New American Funding, LLC. www.naf.com. Corporate Office Phone (800) 450-2010. New American Funding, LLC and Company shared the cost of this advertisement. 1/2026