Persuasive Speech On Buying A Home

Did you know that millions of homeowners in 2016-2017 lost their homes due to buying a house twice their income.
I decided to do my topic on buying a home, because I have always been fascinated by the look of houses and how the real estate business works.
Today, I will be explaining to the class how the steps of buying a home works

II. Body
Main Point
There are a few steps to buying a home and today I am going to be explaining them to you so that you will be comfortable when it is time for you to make that big decision in life. The average age to buy a home is around 31 to 34 years old according to Stan Humphries, who is the chief economist at Zillow which is a real estate website that has homes and properties listed on it for potential
Lenders recommend that people look for homes that cost no more than three to five times their annual income if the homeowners plan to make a 10- 20% down payment and have an average amount of debt.
For example, the average millennial age 31 to 34 make around $72,000 a year which means that you will probably be able to afford a home that cost around $230,000. (www.zillow.com mortage calculator)
Transition Statement
B. Once you have established how much house you can afford, you would like to get Prequalified and Preapproved for credit for your mortgage and to see how much they are willing to lend you.
To get prequalified for a mortgage you will need to provide some financial information to your mortgage banker such as your annual income, the amount of savings and investments you have, if any.
Your lender will then review the information that you gave he/she and tell you how much the bank can lend you. That will also tell you the actual price range you should be looking at.
Next, to get pre-approved for credit, you will need to bring your W-2 statements, your paycheck stubs, bank account statements and any other financial paperwork, so that your lender can verify that you actually make that amount of money, and to verify your current credit
When you have then made an offer and you have gotten the home, you will then get a home inspection. This is not required but it will benefit you in the long run so that you will know if something is wrong with your home, like structural damage or electrical damage.
Your real estate agent will usually help you with this process within a few days of you buying the home. This protects you by giving you a chance to renegotiate your offer or even withdrawal it without you be penalized if the inspection reveals any damage.
After the home inspection you and the seller will then receive a report of the home inspector findings, you can decide if you want to ask the seller to fix anything on the property before closing the sale. But before the sale closes, you will have a walk-through of the home, which gives you the chance to confirm any agreed repairs have been made.
Transition Statement
E. You will then work with a Mortgage Banker to select your loan that works best for you.
You will have many questions when you are purchasing your home, so it is helpful to have a banker that is experienced and can help you with the