◇ Hyde Homes makes the home buying process easy by paying all for your closing costs and prepaids when using a preferred lender. All it costs the buyer is $500 earnest money and with approved credit this will be returned to the buyer when they purchase the home(closing). ■ The best way to show how their current lifestyle will change is with the Ben Franklin close. This shows their current situation and compares it with their new home. Example:
Curren t
Ne w
Paymen t
$850
$867
Sqft
1200
1551
Bedroom s
2
3
Bath s
1
2
Garag e
No
2 car
Yard
no
yes
Renters Insurance
$25
0
Utilities
$165
$150
MI Deduction
0
-$108
Total
$1040
$90 9
*To calculate MI deduction use 1 ½ payment / 12(using current numbers $867 + $433.50 / 12 = $108. Mortgage interest deduction can either be put into their weekly/biweekly paycheck or they can get it when they get their tax return done. To
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