1. How to Buy a Home An Easy Guide for What to Expect When Buying your Home Presented by your friends and neighbors at ihousesandiego.comihousesandiego.com

2. Look for a Home  Learn your market  Find what you want  Neighborhood  Square footage  Amenities  Taxes  Use our search tool ihousesandiego.com for listings all over San Diego County (available 1/20/11)ihousesandiego.com

3. PITI  Principal, Interest Taxes and Insurance  This makes up your monthly payment and what your loan officer will use to prequalify you  Principal and interest is your loan amount, not purchase price, and the interest rate you get on your loan

4. Taxes  Taxes are 1% to 1.2% of the assessed value  Land value + improvements  Usually purchase price  Prop 13  Your property taxes can go down, but never goes up

5. Mello Roos  Way to increase property taxes to make improvements to the neighborhood  Used to repay 10 to 30 year bonds  Found in properties built 1994 and beyond  Will cease when bond is paid

6. Insurance  Covers FIRE  Earthquake, Flood separate  Usually no more than $100 a month

7. HOA  During contingent status you will get CC&Rs which are covenants, conditions and restrictions  You will have to pay monthly  Provide certain amenities  Landscaping, common areas, maintenance  LINK

8. Obtaining financing  Get prequalified  Will need  W2s  Tax Returns 2 years  Last 2-3 paystubs  Last 2-3 bank statements  401K statements, IRA, etc  Credit report  Pension, SS statement, Child support, etc

9. Timeline for successful purchase  2-3 months  Look for home  View them  Find one you like  Put offer down  Repeat until acceptance

10. Timeline during contact stage  Once you get an acceptance you put 1% to 3% deposit to escrow  Seller to deliver disclosures to sign  Order appraisal $325 and Inspection $350 to $500  Request repairs as needed  Remove contingencies  Draw up closing documents  Closing

11. How to Break Your Contract and Get your Deposit Back  If any contingency is not taken care of it is grounds to break the contract without breach  Financing  Repairs  Disclosures  Appraisal  property condition  title approval and  home owner association documents.

12. Own your home  We can help you get to your final outcome  Find us at ihousesandiego.comihousesandiego.com