TRAINING CAMP — BUILDING BUYING POWER
Q: This checklist section asks whether you’ve started saving for this upfront cost.
A: What is the down payment?
Q: Your credit usage should stay under this percentage of your limit.
A: What is 30% (ideally 10%)?
FHA loans require this minimum down payment percentage.
A: What is 3.5%?
Q: This is the app Cynthia recommends to help track homes and request tours.
A: What is the Keller Williams App?
Q: This deposit shows the seller you’re serious about buying.
A: What is earnest money?
Q: Closing costs in the workbook are listed as this percentage range.
A: What is 2–5% of the purchase price?
Q: A common beginner step to start building credit is opening this type of card.
A: What is a secured credit card?
Q: This loan type is only for military service members or veterans.
A: What is a VA loan?
Q: This person’s guidance helps new buyers understand market value and comps.
A: Who is a real estate agent?
Q: “Good, Better, Best” describes strategies for this offer component.
A: What is price?
Q: The workbook says your credit score should ideally be at this number or higher.
A: What is 620+?
Q: This action can drop your score 50+ points instantly.
A: What is a late payment?
Q: USDA loans are designed for homes in these areas.
A: What are rural areas?
Q: This term describes evaluating the strengths and weaknesses of each home.
A: What is the scouting report?
Q: A faster closing timeline (21–30 days) makes your offer appear more ______.
A: What is strong or competitive?
Q: This step is required before submitting offers and appears on the checklist.
A: What is getting pre-approved with a trusted lender?
Q: The credit section compares building credit to this activity.
A: What is going to the gym (consistent effort)?
Q: This type of loan usually offers lower rates if you have excellent credit.
A: What is a conventional loan?
Q: A “Draft Pick” tracker helps buyers rate homes on a scale of ______.
A: What is 1–5?
Q: This clause automatically outbids other offers up to a max amount.
A: What is an escalation clause?
Q: One item on the readiness checklist reminds buyers not to take on this before buying.
Q: One item on the readiness checklist reminds buyers not to take on this before buying.
Q: These three financial moves can ruin your chances during underwriting.
A: What are: changing jobs, opening new credit, and making large purchases?
Q: Arizona buyers can receive up to ~$15k through these programs.
A: What are Arizona down payment assistance programs?
Q: This neutral party holds funds until the deal is complete.
A: What is escrow?
Q: This is the written breakdown of price, timeline, loan type, and extra terms.
A: What is the offer package or offer breakdown?