Advanced Buyer Course

Advanced Buyer Course 
Happy Homebuying Framework

The Advanced Buyer Course uses the Happy Homebuying Framework, an acronym called H.O.M.E. to teach course contents

• Honest with Yourself

• Helps you take an honest look at yourself to determine the reason you want to buy a home, and define what would make you truly happy.

• Order Your Affairs

• Take your financial snapshot (credit, savings, qualifying income, debt, special situations, loan estimate) and learn how lenders will assess your borrowing power.  Understand loan terminology, loan options, and loan terms.  Understand mortgage math, and how to compare mortgage loans.

• Manage Your Expectations

• Learn about external factors impacting your purchasing decision. Learn about different building and buying options, and what to look out for. Learn about working with a REALTOR. Understand what causes buyers' regret.

• Execute Your Plan

• Walk through the homebuying process, and the details in the purchase contract. Learn how to manage your team by understanding who's doing what (REALTOR, title company, inspector). Learn how to analyze key documents like the survey, closing disclosure, title commitment, HOA docs, and more. Learn what to expect after closing on your home.

 COURSE COMPETENCIES AND
LEARNING OBJECTIVES

Competency 1: To honestly search out why you want to purchase a home and what would make you happy with your purchase.

Learning Objective 1a: Understand why you want to buy a home

Learning Objective 1b: Be able to define what would make you happy with your home purchase

Learning Objective 1c: Decide if now is the right time in your life to pursue homeownership

 

Competency 2:To get your financial affairs in order and choose the right mortgage loan option for you.

Learning Objective 2a:  Be able to self-assess and document your financial standing in advance of completing a mortgage application

Learning Objective 2b:  Understand which credit scoring model lenders pay attention to

Learning Objective 2c:  Understand how applying for a mortgage and purchasing a home impact your credit score

Learning Objective 2d:  Estimate how much money you need to save upfront before purchasing your home

Learning Objective 2e:  Understand the true cost of homeownership

Learning Objective 2f:   Understand what lenders consider “qualifying income” and can be included in calculating your buying power

Learning Objective 2g:  Understand how to calculate your front-end and back-end debt-to-income ratios

Learning Objective 2h:   Understand how lenders view special situations like student loans, child support, alimony, bankruptcies and foreclosures

Learning Objective 2i:   Understand how to use a loan estimate to ask critical questions and make informed decisions

Learning Objective 2j:  Understand the structure of and types of loans – loan terminology,  mortgage broker vs. direct lender, interest rates, discount points, conforming vs. nonconforming, private mortgage insurance, loan qualifications and more…

Learning Objective 2k:  Understand the many different types of loans and what you may qualify for

Learning Objective 2l:  Understand and learn how to use the gift of equity

Learning Objective 2m:  Understand how to ask critical questions to choose the right loan and loan terms for you

Learning Objective 2n:  Understand how to use and apply mortgage terminology

Learning Objective 2m:  Be able to compare loans based on the annual percentage rate (APR)

Learning Objective 2n:  Be able to follow an amortization schedule

 

Learning Objective 2o:  Assess and compare how choosing a different loan option will impact the purchase of the same home.

Learning Objective 2p:  Be able to ask critical questions to find the right lender for your home mortgage

Core Competency 3:  To manage your expectations through an understanding of your home buying options and what factors will impact your decision

Learning Objective 3a:   Understand how the local market, interest rates, and the team around you impact your homebuying decision

Learning Objective 3b: Understand how special taxes impact your purchasing decision – TIF’s, PID’s, MUD’s, and PUD’s.

Learning Objective 3c:  Understand the usefulness of hiring a buyers’ agent to represent you in your purchase

Learning Objective 3d:  Understand your homebuying choices, and the pros and cons of each

Learning Objective 3e:  Find the home you are attracted to by looking at popular home styles

Learning Objective 3d:  Understand what property owners’ associations do

Learning Objective 3e:  Understand what some buyers tend to regret in their home purchase, and how you can avoid making the same mistake

Core Competency 4:  To go step by step through your homebuying process, understanding the components of key documents along the way

Learning Objective 4a:  Understand the steps involved in buying a home

Learning Objective 4b:  Understand how to shop for a home, assessing your needs vs. wants, even when there is more than one decision-maker

Learning Objective 4c:  Understand key components of a home purchase contract

Learning Objective 4d:  Know who’s doing what on your homebuying team – buyers’ agent, inspector, title company, and lender

Learning Objective 4e:  Understand how to interpret key documents provided before and at the closing table

Learning Objective 4f:  How to buy happy with no regret, and take proper care of your investment – your new home!