DeKalb County District 7 Home Ownership Webinar

The DeKalb County District 7 Home Ownership Webinar took place March 9, 2023 and was hosted by Commissioner Lorraine Cochran-Johnson (DeKalb County Super District 7) and presented by Jennine Hunter (AVP, Mortgage Loan Originator, United Community Bank). During the Webinar, the benefits of the United Community Bank Possibilities Achieved Through Home Ownership Program (P.A.T.H.) was discussed, including information on the Steps To Home Ownership, How To Qualify For A Home, and The Home Ownership Process. This is the presentation shared during the Webinar.

Transcript

3. Path Program 2023
4. DeKalb County GA Housing Opportunities
5. Path Program • Low to Moderate Census Tract • Greater than 49.1% minority • Income less than 77k • Credit score 640 • Minimum of 4 tradelines • Can own no other real estate at closing • Housing ratio 31-35% of gross monthly income • Total debt 43% of gross monthly income
6. Market Conditions—What Borrowers do not have control over 6 • Low inventory—Atlanta is a strong market • Purchase Price • Interest Rate • Property taxes • Insurance • Inflation • Closing costs • Rising Rental Rates
7. Market Conditions—What Borrowers can control 7 • Income - We have to have 2 years of continuous employment, no more than 30 day job gap - Additional income—must have 2 year’s continuous history to be used • Credit score - We can do lending at 600, but greater opportunities at 640 score • Savings - Need earnest money, inspection, and appraisal at a minimum
8. Loan Features • Conventional Loan • No Private Mortgage Insurance • Rate cheaper than regular Conventional • .25 discount if you open bank account and have auto pay • Make payments at the bank • Can be layered with Uadvantage—down payment assistance
9. Path Homes in DeKalb County 3/3/23 • 547 Rosemont DR Decatur GA 30032 $409,900 3 • 1851 Meadow LN Decatur GA 30032 $469,900 4 • 2495 Marsh Rabbit BND Decatur GA 30035 $359,900 5 • 1770 Atherton DR Decatur GA 30035 $135,000 7 • 722 Avondale Hills Drive T4 Decatur GA 30032 $549,000 5 • 2105 Barbara LN Decatur GA 30032 $315,900 7 • 3383 Glenwood RD Decatur GA 30032 $480,000 7 • 1807 W Austin Road Decatur GA 30032 $220,000 3 • 3024 Monterey Drive Decatur GA 30032 $199,999 2 • 1836 Rosewood RD Decatur GA 30032 $324,500 2 • 2561 Glenrock DR Decatur GA 30032 $269,000 5 • 1938 Willa DR Decatur GA 30032 $400,000 2 • 3789 CONLEY DOWNS Lane Decatur GA 30034 $249,900 7 • 4225 Lindsey Decatur GA 30035 $265,000 7 • 3335 Waldrop Trail Decatur GA 30034 $225,000 4 • 2619 Flat Shoals Rd Decatur GA 30034 $449,900 7 • 3676 Kings Park WAY Decatur GA 30034 $350,000 7 • 1742 Briarlake Decatur GA 30033 $549,900 4 • 3031 Wilson Road Decatur GA 30033 $300,000 4 • 3763 Wake Forest RD Decatur GA 30034 $330,000 5 • 3555 Hancock View Decatur GA 30034 $359,900 6 • 3624 Concordia RD Decatur GA 30034 $327,000 3 • 3254 Strawberry Lane Decatur GA 30034 $111,500 7 9
10. Path Homes in DeKalb County 3/3/23 • 1732 Redan E LithoniaGA 30058 $249,900 7 • 3454 Fannin Drive LithoniaGA 30038 $258,900 7 • 1833 Cutters Mill LithoniaGA 30058 $273,000 4 • 1038 Leslie PL LithoniaGA 30058 $310,000 4 • 7060 Dean CT LithoniaGA 30058 $169,500 6 • 1762 BOULDER CV LithoniaGA 30058 $299,000 7 • 3443 Fox Hound Run LithoniaGA 30038 $415,000 7 • 4490 Latchwood DR LithoniaGA 30038 $139,900 3 • 6747 Chaparral Drive LithoniaGA 30038 $284,888 7 10
11. Path Homes in DeKalb County 3/3/23 • 1065 Second Street Stone Mountain GA 30083 $165,000 6 • 989 Carlisle RD Stone Mountain GA 30083 $229,900 4 • 4813 Banner Elk DR Stone Mountain GA 30083 $142,900 4 • 5149 Madeline PL Stone Mountain GA 30083 $285,000 7 • 768 Arbor Hill DR Stone Mountain GA 30088 $305,000 4 • 5439 Highfield DR Stone Mountain GA 30088 $68,000 7 • 5119 Leland DR Stone Mountain GA 30083 $295,000 2 • 3647 Rockbridge Road Stone Mountain GA 30083 $359,000 1 • 1697 Grandeus Lane Stone Mountain GA 30087 $345,000 2 • 3461 Lakeview Creek 218 Stonecrest GA 30038 $289,990 6 • 3469 Lakeview Creek 222 Stonecrest GA 30038 $299,990 7 11
12. Credit Features • Follow conventional/FHA guidelines • Cannot have any collections in the last 12 months • Student loans can be income based payment plans or .5% of outstanding loan amount • Bankruptcy 2 years discharged with re-established credit • Can use Non-traditional credit to strengthen file—i.e. car insurance, rental payments, utilities, cell phone bills etc.
13. Rent VS Own 13
14. Interest Rate 14
15. Documents Needed for Preapproval—No Screenshots! 15 • 30 days paystubs • 2 years w2s or tax returns • 2 months bank statements • HR contact for Verification of Employment • Landlord contact for Verification • Copy of Driver’s License - If you need assistance with getting the documents, please contact your Loan Officer
16. Next Steps 16 • If you are interested in the program, please contact me below Jennine M. Hunter, MBA |Assistant Vice President| Community Mortgage Lending Specialist | NMLS # 1780411 United Community Mortgage Services | 1000 HWY 138 SE | Conyers, Georgia 30013 Contact | Office 678-342-6029 | Mobile 317-529-5393| EFax 678-348-7577 Website: www.loansbyjenninehunter.com Email: jennine_hunter@ucbi.com Application: https://www.ucbi.com/team/jennine-hunter/ To set an appointment: https://calendly.com/jenninehunter/mortgage-preapplication-consultation At United, we build Community one homeowner at a time!