Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (June 2023)
27 slides from Enact's investor presentation, June 2023
Slide 1: First-Time Homebuyer Workshop 2023
First-Time Homebuyer Workshop 2023
Slide 2: Welcome
First Time Homebuyer Workshop Welcome Owning a home is a dream for many. You may be wondering how to make that dream a reality. Homebuying can seem scary, but this presentation is all about demystifying the process. Rest assured—with these tools in hand, you will be well on your way to feeling confi
Slide 3: Disclaimer
First Time Homebuyer Workshop Disclaimer Enact Mortgage Insurance Corporation (“Enact”) has provided this presentation for informational and illustrative purposes only and assumes no liability to any person for its content or any person’s reliance on that content. This presentation does not constitu
Slide 4: Agenda
First Time Homebuyer Workshop Agenda Preparing Getting Started Buying Your Home Becoming a Homeowner Topics: Topics: Topics: Topics: • Credit • Who to Talk To • Documents to Gather • Transitioning into • Budgeting & Affordability • Terms to Know • Do’s and Don’ts Homeownership • Down Payment • Mortg
Slide 5: Preparing
First Time Homebuyer Workshop 01 Preparing
Slide 6: Understanding Credit
First Time Homebuyer Workshop Preparing Understanding Credit Your credit score has a major impact on a mortgage, from your ability to qualify to the interest rate on your loan. It is important to understand your individual score. • Your lender will order the credit report that is required for your m
Slide 7: Reviewing Your Credit Report
First Time Homebuyer Workshop Preparing Reviewing Your Credit Report If you have requested a copy of your credit report, you will want to review it to ensure that the information accurate. Here are just a few of the areas of the report you should be sure to review for accuracy: • Personal Informatio
Slide 8: Understanding Your Score
First Time Homebuyer Workshop Preparing Understanding Your Score There are many factors that go into creating a credit score: Payment History The most significant impact on your score is whether you have paid your NOTE: accounts in a timely manner (on or before the date the payment was due). Amounts
Slide 9: Tips for Managing Credit
First Time Homebuyer Workshop Preparing Tips for Managing Credit Follow these best practices for managing your credit. 1. Limit number of credit lines 2. Stay below your credit limit on your credit cards 3. Pay what you owe 4. Pay attention to the payment due dates 5. Keep your contact information c
Slide 10: Budgeting
First Time Homebuyer Workshop Preparing Budgeting In addition to your Lender, there are many online calculators available to help you determine how much house you can afford. An easy guideline to follow is the 36% rule; your total monthly debt should stay below 36% of your gross income (Debt-to-Inco
Slide 11: Down Payment
First Time Homebuyer Workshop Preparing Down Payment Lenders usually require you to contribute some of your own money to the purchase of the house. However, you don’t need 20% down to get a home. Mortgage Insurance (MI) helps qualified borrowers realize the dream of homeownership sooner. • Typically
Slide 12: Getting Started
First Time Homebuyer Workshop 02 Getting Started
Slide 13: Who’s Who?
First Time Homebuyer Workshop Getting Started Who’s Who? You will work with numerous professionals on the road to homeownership and each person provides a specific service to help you become a homeowner. Appraiser An individual who is licensed to estimate the worth (fair market value) of the propert
Slide 14: Who’s Who?
First Time Homebuyer Workshop Getting Started Who’s Who? Loan Servicer The entity that collects mortgage payments (it may or may not be the lender) and pays taxes and insurance and mortgage insurance, if required, on your behalf. Mortgage Insurer By compensating the lender for losses should a borrow
Slide 15: Who’s Who?
First Time Homebuyer Workshop Getting Started Who’s Who? Real Estate Agent A real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/ real property and attempts to find sellers who wish to sell and buyers who wish to buy. They can often provide helpful and
Slide 16: Terms to Remember
First Time Homebuyer Workshop Getting Started Terms to Remember As you move through the process, you may hear some industry-specific language. Below is a cheat sheet to some key terms. Amortization Repayment of loan principal over time with scheduled payments that consist of both principal and inter
Slide 17: Terms to Remember
First Time Homebuyer Workshop Getting Started Terms to Remember Debt-to-income (DTI) Ratio The DTI ratio compares how much a borrower owes with how much they earn in a given month. Equity Equity is the portion of the property that you actually own through your payments, versus the portions that you
Slide 18: Terms to Remember
First Time Homebuyer Workshop Getting Started Terms to Remember Loan-to-value (LTV) Ratio A mortgage's LTV ratio describes the ratio of the value of the property to the amount of outstanding mortgage balance. Points Points, also known as discount points, lower your interest rate in exchange for payi
Slide 19: Mortgage Payment Makeup: PITI
First Time Homebuyer Workshop Getting Started Mortgage Payment Makeup: PITI Your monthly mortgage payment will be comprised of four primary buckets: Principal, Interest, Taxes and Insurance -- referred to as PITI. The portion of your monthly payment that reduces the balance of your loan P R I N C I
Slide 20: Buying Your Home
First Time Homebuyer Workshop 03 Buying Your Home
Slide 21: Documents to Gather
First Time Homebuyer Workshop Buying Your Home Documents to Gather Begin your homebuying process by working with your lender to pre-qualify for a mortgage. Pre- qualification is not an approval for a mortgage; it is a less formal way to estimate the range of home prices for you. *Pre-approval is a m
Slide 22: Do’s and Don’ts
First Time Homebuyer Workshop Buying Your Home Do’s and Don’ts The mortgage process can be complex, and small changes can get you off track. To help things go as smoothly as possible for both you and your lender, consider these tips for things to do (and avoid). Do’s • Keep ongoing record of income,
Slide 23: Do’s and Don’ts
First Time Homebuyer Workshop Buying Your Home Do’s and Don’ts The mortgage process can be complex, and small changes can get you off track. To help things go as smoothly as possible for both you and your lender, consider these tips for things to do (and avoid). Don’ts • Close, open, or transfer mon
Slide 24: House Hunting
First Time Homebuyer Workshop Buying Your Home House Hunting Now that you understand more about the mortgage process, it’s time to start house hunting! Here are some tips to get you started: KNOW YOUR DON’T GET DO YOUR THINK AHEAD LOOK AT MORE BUDGET EMOTIONALLY RESEARCH THAN THE HOUSE ATTACHED Chec
Slide 25: Becoming a Homeowner
First Time Homebuyer Workshop 04 Becoming a Homeowner
Slide 26: Moving In
First Time Homebuyer Workshop Becoming a Homeowner Moving In Once you’ve closed on your home, there are some things you will need to do. First, celebrate! Then… Begin the address change process Find local professionals, such as doctors or pet sitters Meet your neighbors Thank your real estate agent
Slide 27: Want to Learn More?
First Time Homebuyer Workshop Becoming a Homeowner Want to Learn More? If you’re ready to take the next step toward smarter homeownership, Enact can help. Enact is proud to partner with Finally Home!® to offer homebuyer education. • We know the importance of homebuyer education and its key role in s