Everything About Buying A Home Explained Visually
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Everything About Buying A Home Explained Visually

Comprehensive coverage of important US real estate terms and concepts, explained via 75 short, visually-oriented videos.
4.4 (10 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
658 students enrolled
Created by Dr Matthew Dunn
Last updated 12/2013
English
Current price: $10 Original price: $45 Discount: 78% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • 8 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • In this course, you will learn the recommended steps to assess and prepare for buying a home
  • You will understand how to search for, and look at, potential homes and communities
  • You'll become familiar with the basic process of making an offer on a home
  • You will learn the basic mortgage terms and types, and the benefits of each
  • You'll understand more unfamiliar mortgage decisions, including points and escrow.
  • You'll gain a methodical approach to choosing a lender for your home purchase.
  • You will have a road-map for the closing process, going to from offer to ownership.
  • You'll learn some of the essential Federally-funded programs and options that might be applicable to you.
View Curriculum
Requirements
  • Personal computer, tablet or mobile device
  • PDF reader software for course guides useful but not required
  • Printer useful but not required
Description

This course aims to provide people buying or selling a home with understanding of key real estate terms and concepts. These are explained through visuals, with supporting voiceover. Each video is short by design, but because visuals convey more information in far less time than text, they cover the subject with better comprehension and recall.

The course is broadly structured into 8 sections, in the rough order a home buyer might follow. However, the videos are not structured sequentially. Later sections can be used without viewing earlier sections. End-to-end viewing, preferably NOT in a single sitting, may be helpful for those who have not yet started the home-buying decision process. A complete end-to-end viewing could be done in a few hours.

Those partway through the home-buying process, or those needing refresher knowledge on particular terms or concepts, can jump to specific videos.

Take this course to be an informed home buyer, and (potentially) to save a lot of money by making the best decisions for your situation. It's the biggest purchase of your life - knowledge pays off.

Who is the target audience?
  • Home Sellers
  • Home Buyers
  • Renters
  • Real Estate Investors
  • Realtors Looking To Help Clients
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Curriculum For This Course
82 Lectures
02:23:58
+
Are You Ready To Buy A Home?
9 Lectures 06:26

A short list of the practical, sometimes difficult questions that you should face before starting down the home-buying road.

Preview 00:49

A quick guide to capturing your needs and wants, so you know how to start and where to look.

Preview 00:36

Many first-time home buyers are unsure about the value of owning a home. While it's a different set of responsibilities, home ownership offers substantial financial and personal advantages.

Preview 01:01

Don't fit your life to a "model home" - capture your "model life", and find a home that fits who you are.

Preview 00:55

Choice of community plays a big role in how a particular structure will suit you. Here are some key questions and considerations to help you assess communities.

Preview 00:45

Some unexpected sources for the 'inside scoop' on key resources in a new community.

How Can I Find Out About Schools and Community Resources?
00:45

Your credit history will affect your home buying. Start this part of the process as early as you can.

How Can I Find Out Information About My Credit History?
01:01

There are no secret fixes - here are the practical things you should do on an ongoing basis to maintain - and eventually improve - your credit score.

How Can I Improve My Credit Score?
00:34

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 1 Guide
9 pages
+
Looking At Homes
12 Lectures 08:48

While it's fun to walk through homes, it's exhausting too! Here are some tips on things to look for, and suggestions for keeping track.

What Should I Look For When Walking Through A Home?
01:11

If you have children, watch this video so you know what to look for and how to address possible concerns.

How Can I Protect My Family From Lead In The Home?
00:49

Are Power Lines A Health Hazard?
00:37

Learn what a flood plain is, and what effect it can have on your home buying expenses.

What About A Home Located In A Flood Plain?
00:44

There's no single answer to this, but there are some issues to consider against your own situation and preferences.

Preview 00:50

Learn the key factors that are going to determine your "envelope" for a home purchase.

How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford?
00:57

AKA the checklist of scary things to consider. It's a huge investment, can't hurt to ask some practical questions!

What Other Issues Should I Consider Before I Buy My Home?
00:33

Discrimination is illegal and intolerable - here's where to go for help.

What Should I Do If I'm Feeling Excluded From Certain Neighborhoods?
00:51

If you've never been a homeowner, property taxes can be a shock. Make sure you know the "liability" - the amount your potential new house will probably cost you in taxes - before buying.

How Can I Find Information On The Property Tax Liability?
00:41

A short list of key question areas, and a source for a handy scorecard to compare multiple homes.

What Questions Should I Ask When Looking At Homes?
00:59

Save yourself expensive mistakes and unnecessary return trips - you won't remember every detail. This video spells out some ways to tackle the task.

How Can I Keep Track Of All The Homes I See?
00:36

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 2 Guide
12 pages
+
Making An Offer
9 Lectures 06:55

An inspector checks the safety of your potential new home, but does not evaluate whether or not you're getting good value for your money.

Preview 01:22

An inspection clause gives you an “out" on buying the house if serious problems are found or gives you the ability to renegotiate the purchase price if repairs are needed.

What Is An Inspection Clause?
00:36

YES - be there and take notes, especially if it's your first home.

Do I Need To Be There For The Inspection?
00:38

This video gives you an overview of the process - your real estate agent will help.

How Do I Make An Offer?
00:48

Learn the basic factors in an offer, and some important cautions to handling the offer process.

How Do I Determine The Initial Offer?
01:07

While practices vary from place to place, it's customary to commit between 1%-5% to a transaction to back up your intent to purchase.

What Is Earnest Money, And How Much Should I Set Aside?
00:48

Warranties are becoming more common, especially for new-home construction. They can be a helpful investment under the right circumstances.

Preview 00:40

Pre-qualify: an informal, non-committed "ballpark." Pre-approval - actual commitment to lend.

How Are Pre-Qualifying And Pre-Approval Different?
00:56

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 3 Guide
9 pages
+
Mortgage Basics
9 Lectures 07:20

A mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a legal claim on the home or property that secures the promise to pay the debt.

What Is A Mortgage?
00:51

The loan to value ratio is the amount of money you borrow compared with the price or appraised value of the home you are purchasing.

What Is Loan To Value (LTV) And How Does It Affect The Size Of My Loan?
01:07

Learn the most common mortgage types - fixed, ARM, balloon and two-step.

What Types Of Mortgage Loans Are Available?
01:26

Important stuff - ARMs can be great, but understand what you're committing to.

When Do Adjustable Rate Mortgages Make Sense?
00:45

This video covers the basic of fixed-rate, comparing the two most common terms.

Preview 00:56

There are options for first-time buyers, depending on financial qualifications.

Are There Special Mortgages For First-Time Homebuyers?
00:44

Most mortgages offer early/extra payment options, but be sure to ask about details before signing.

Can I Pay Off My Loan Ahead Of Schedule?
00:45

Down payment percentages vary, and they may be going up. Learn this material way in advance to assess your likely needs.

How Large A Down Payment Do I Need?
00:46

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 4 Guide
9 pages
+
More On Mortgages
8 Lectures 05:27

Learn the mix of things involved in determining mortgage payment amounts so you can negotiate smart.

What Factors Affect Mortgage Payments?
00:40

Get a good mental picture of what can be included - and ask for specifics.

What Is Included In A Monthly Mortgage Payment?
00:33

Take notes on this one, because there's a LONG list of documentation you'll need.

What Steps Need To Be Taken To Secure A Loan?
00:55

Interest rates are a volatile component in the mortgage mix - learn what to watch.

How Does The Interest Rate Factor In Securing A Mortgage Loan?
00:57

"Refinancing" - establishing a new loan on an existing house - might pay off. Learn when.

What Happens If Interest Rates Decrease And I Have A Fixed Rate Loan?
00:42

Points are essentially prepaid interest, and they can be a useful way to manage costs and taxes.

What Are Discount Points?
00:54

Meet our friend the S crow - an account where part of your mortgage payment is set aside for annual charges.

Preview 00:46

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 5 Guide
8 pages
+
Loans & Lenders
11 Lectures 08:39

Here are some key questions and considerations to picking a lender.

How Do I Choose The Right Lender For Me?
00:46

Your "credit score" is your risk history, in a single number. Learn and understand yours.

What Is A Credit Bureau Score And How Do Lenders Use Them?
00:38

Learn to assess loan options in a smart, long-term way.

How Do I Choose The Best Loan - Program For Me?
00:53

With so many loans, how can you compare? Watch this.

What Is The Best Way To Compare Loan Terms Between Lenders?
01:00

This is a key requirement, required of a lender within 3 days of application.

Preview 00:33

Loan application fees can add up, and they're generally non-refundable.

Are There Any Costs Or Fees Associated With The Loan Origination Process?
00:37

Here's how to handle mistakes...

What If I Find A Mistake In My Credit History?
00:40

What to expect while you're waiting for loan approval.

What Happens After I've Applied For My Loan?
00:49

Important things to do, and things you absolutely SHOULD NOT do.

What Responsibilities Do I Have During The Lending Process?
01:10

Learn some of your options, and some of the terms, should you fall behind in payments.

What Should I Do If I Fall Behind On An Conventional Loan?
01:33

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 6 Guide
11 pages
+
Title & Closing
10 Lectures 08:07

Laws vary by state, but you may want one regardless.

Do I Need A Lawyer To Buy A Home?
00:56

Yes - you'll need a policy or a receipt for one at closing.

Do I Really Need Homeowner's Insurance?
00:41

Shop and compare, and include insurance costs in home comparisons too.

What Steps Could I Take To Lower My Homeowner's Insurance Costs?
01:01

Probably the first and last time you'll your future home without furniture - here are some extra things to check before you sign.

What Should I Look Out For During The Final Walk-Through?
00:38

Mortgage insurance is a policy that protects lenders - YOU pay the premium. Whether it's required depends on your down payment %, generally.

What Is Mortgage Insurance?
00:53

Private Mortgage Insurance / Insurers, compared to the FHA.

What Is PMI
00:49

Learn the usual closing costs in about a minute, but you may want to replay.

What Makes Up Closing Costs?
01:05

You'll sign many, many documents - get an overview of what's happening before the day arrives.

What Can I Expect To Happen On Closing Day?
01:25

Learn the key documents to review.

What Do I Get At Closing?
00:39

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 7 Guide
10 pages
+
Federal Programs Related To Buying A Home
14 Lectures 13:16

The Federal Real Estate Settlement Procedures Act requires lenders to disclose information to potential customers throughout the mortgage process.

What Is RESPA
00:57

The U.S. Department of Housing and Urban Development - also known as HUD - develops and administers national policies and programs to address housing needs in the U.S.

What Is HUD?
00:57

HUD develops and supports affordable housing, makes loans, and owns & sells homes in many communities.

How Does HUD Help Homebuyers And Homeowners?
00:51

The FHA makes loans accessible; FHA loans can require smaller down payments than conventional loans.

How Can The FHA Assist Me In Buying A Home?
00:42

FHA loan limits vary by place and type of home.

What Is The FHA Loan Limit?
01:17

FHA loans are now handled much like conventional loans, through a variety of contact options.

What Are The Steps Involved In The FHA Loan Process?
00:37

A whole range of things you might not think of as "income" may actually qualify and help you borrow.

What Qualifies As An Income Source For The FHA?
00:47

As of 2013, the FHA allows you to use 29% of your income towards housing costs and 41% towards housing expenses and other long-term debt.

What Is The Debt-To-Income Ratio For FHA Loans?
01:05

The FHA is generally more flexible than conventional lenders in its qualifying guidelines; this video covers some of the details.

How Does My Credit History Impact My Ability To Qualify?
00:54

Yes. You can assume an existing FHA-insured loan, or, if you are the one deciding to sell allow a buyer to assume yours. Learn the advantages.

Preview 00:59

203(b) is the most commonly used FHA purchase program. 203(k) loans are similar, but also enable homebuyers to finance both the purchase and rehabilitation of a home.

What Are FHA 203(B) And 203(K) Loans?
01:16

Ask your real estate agent or lender for information on the HELP- Homebuyer Education Learning Program - from the FHA.

How Can I Receive A Discount On The FHA Initial Mortgage Insurance Premium?
00:53

Learn how to handle the situation, and who's involved, in FHA loan payment issues.

What Should I Do If I Fall Behind On An FHA Loan?
02:01

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 8 Guide
11 pages
About the Instructor
Dr Matthew Dunn
4.4 Average rating
23 Reviews
1,842 Students
2 Courses
Chief Explainer at Say It Visually

Matthew Dunn holds the first PhD in Digital Media (University of Washington 1995). He’s been a theatre professor, a 9-year Microsoft veteran, a corporate Senior VP & CIO, a tech-startup CEO and a serial entrepreneur.  He’s also an award-winning writer, a designer, director and frequent speaker, and an inventor, with 15 patents to date.  In 2008 he launched Say It Visually, the pioneering “Explanation Agency”, with his business partner, where Matthew holds the title of Chief Explainer.