First Time Buyers

Lakeside Condominiums in Fresno CA	Sale Price	$153,000
Purchase vs Rent Comparison	Rental Expense	$1,005
1 Bedroom / 1 Bathroom (- s.f.)	Interest Rate	6.25% ARM
	Promo financing - ask for details	3.99% ARM

Scenarios	Rent	Purchase	Purchase	Purchase
Down Payment Percentage		5%	10%	20%
Down Payment Amount		7,650	15,300	30,600
Loan/ Rent Amount	1,005	757	717	584
Plus Property Tax **		159	159	159
Plus HOA Fees		217	217	217
Less Tax Savings***		(293)	(280)	(181)
Net Monthly Cost	1,005	840	813	779
Net Monthly Savings		165	192	226

Rent vs. Buy

4% Broker Co-Op

5,000 towards closing costs****

HOA dues pre-paid through December 2007

* Based on an interest-only loan

** Based on property tax rate of 1.25%
***Based on Federal and California tax savings; federal rate calculated on income between $30,800 and $68,500. California on income over $38,000.

Disclaimer: This comparison is only an example. Actual costs will vary from this example. Its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals.

The seller reserves the right to change or discontinue incentives in its sole discretion at any time without prior notice or obligation.

The seller reserves the right to change, alter, modify, or omit plans, features, prices, materials, or deisgns in its sole discretion at any time without prior notice or obligation. All features and finishes in model units, artistic representations, drawings, brochures, price lists, or other displays are for informational purposes only and are not representations or guarantees of any kind as to what will be included in any condominium by seller. This is not a contract or agreement. Until such time as seller has accepted and exectued your purchase agreement, you have no binding agreement with seller regarding the sales price of your condominium.

****Seller will pay (a maximum of $5,000 towards) Buyer's non-recurring purchase and loan closing costs with the EXCEPTION OF DISCOUNT POINTS. Non-recurring costs consist of customary title and escrow fees, loan fees, appraisal, credit report and similar items. Items not included are recurring costs such as interest (including prepaid interest), homeowner's insurance or loan impound payments and property tax impound payments. Seller will prepay twenty-four months HOA assessments, commencing with the first month after close of escrow. HOA assessments will be based on the current HOA monthly assessment. Any increase in asessments following the close of escrow will be Buyer's responsibility. This does not include the required HOA capital contribution or any speciall assessments, which will remain Buyer's responsibility.

*****3.99% financing available with 20% down payment required at the close of escrow; 30-year amortization due in three years; no pending bankruptcies. See sales agent for details. The seller reserves the right to change or discontinue incentives in its sole discretion at any time without prior notice or obligation. The seller reserves the right to change, alter, modify, or omit plans, features, prices, materials, or designs in its sole discretion at any time without prior notice or obligation. All features and finishes in model units, artistic representations, drawings, brochures, price lists, or other displays are for informational purposes only and are not representations or guarantees of any kind as to what will be included in any condominium by seller. This is not a contract or agreement. Until such time as seller has accepted and executed your purchase agreement, you have no binding agreement with seller regarding the sales price of your condominium

******If Buyer obtains a first trust deed loan through Seller’s preferred lender, then: (a) Seller will pay an amount not to exceed $10,000 towards Buyer’s purchase and loan closing costs. (b) Seller will prepay twelve months of HOA dues, commencing with the first month after close of escrow. HOA assessments will be based on the current HOA monthly assessment (the specific dollar amount will be specified on the closing statement). Any increases in assessments following the close of escrow will be Buyer’s responsibility. This does not include the required HOA capital contribution or any special assessments, which will remain Buyer’s responsibility