First Time Home Buyer Seminar With Kenton Brown 14
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Transcript:
I’m gonna give you a self qualifier real quick. This is kinda fun. Now Kenton will probably cringe when I do this because he won’t want you to get self qualified on your own. He’ll want to make sure you talk to him. But this is kinda cool. If you’re a salaried person, you take your income, let’s say it’s $5000 per month. If you’re making that much per month, 45% of your gross monthly income can go to all of your debts combined, including the house payment. So we multiply that by 45% and it’d be about $2250. That means $2250would be your 45%. Then you subtract out all of your car payments and long term debt and your revolving charge cards’ minimum monthly payments. So let’s say you have $250 in car payment and $250 in revolving debt. That leaves $1750 left over. That’s what’s left over that can qualify for the house payment. We figured that it’s about $8.20 per thousand is what your payment is. That’s your factor. So that equals $207,000. So you basically just self qualified if you’re trying to make a quick ballpark estimate. Other times, when you’re out looking at homes, you might ask how much is the payment going to qualify for. It’s great because you can use the factor, which is $150,000 times 8.5 and that will give you a ball park of what your payment is. Anyway, I just wanted to throw that out there because a lot of people say, “Wow, I can self qualify myself!” Alright, once again, I just wanted to make sure you know that you’ve got a full team of people all the way with credit repair people like Chris Johnson and Don there. If you have questions, we’ll close out with that after the giveaways. We’ll have a question and answer session for 10 of 15 minutes or whatever. But if you want to talk credit repair, talk to Chris and Don, they’re here to help. We have George Walter, a 32-year veteran of real estate. If you want to know why he bought and owned his first home in the 1970’s and how he’s built his portfolio up over the years, talk to him. We have Crystal Kilpatrick here, feel free to ask her questions or ask me questions. I think Dominick is still here for loans and he’s the other person with the tie on. We’re here to answer your questions for as long as you want. I also want to say once again that if you’d like to come out to the community on Saturday, this is what I live by (holds up cell phone). And really, I think we all do. The funny thing about Kenton is that he’s always at his desk. I can call him and he’ll always be at his desk. This is what I live by because I’m usually in my car. Text me. Call me. Don’t say, “Oh, he’s too busy, he doesn’t want to go.” Call me tomorrow if you’re ready to get on the process. Text me and say, “Hey, I’m ready to go.” Or text me with more questions. The whole idea is to just start up that relationship. Don’t feel like you’re bothering us just because you have a question. Start the process by starting the communication. That’s important. And Saturday, if you want to come out, we’ll be there. We’re going to be calling everyone over the next few days and you’ll hear from either Crystal or myself. You’ll also hear from Kenton and he’s going to start his calls on Monday. The reason is that Crystal or I will have a conversation about your needs and your wants and inevitably, it falls back to “well, you need to know what you’re qualified for.” So we’re making a promise that we’re going to get through this and call everyone on this list. You’ll also be on our email list. It’s about establishing that relationship. There will be a follow up seminar in 2 weeks. It will be smaller than this, more intimate, talk about more directly about properties. It will be at Mihn’s Café and that will be on our website, BuyAustin.Com. And then, once again, watch us on House Hunters, it’s a kind of fun show.