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Justin Lopatin
United States
Приєднався 13 кві 2021
Good Home Vybes Only!
I'm so excited to share this channel with you all! This is where I'm dedicated to educating and empowering homebuyers to make better decisions.
Whether you're a first-time buyer who isn't sure where to start, or you're buying your 3rd investment property to rent out, I've got you covered.
I'm here to provide all the information and guidance you need to find the perfect property and make the most of your investment.
Let's create some good home vibes together!
Hit that subscribe button and get ready for a wealth of valuable real estate content coming your way.
I'm so excited to share this channel with you all! This is where I'm dedicated to educating and empowering homebuyers to make better decisions.
Whether you're a first-time buyer who isn't sure where to start, or you're buying your 3rd investment property to rent out, I've got you covered.
I'm here to provide all the information and guidance you need to find the perfect property and make the most of your investment.
Let's create some good home vibes together!
Hit that subscribe button and get ready for a wealth of valuable real estate content coming your way.
Mortgage Escrow Explained — Do You Need It?
📝 CHECK OUT MY FREE HOMEBUYER'S GUIDE: bit.ly/CH3KL1ST
📞 Schedule a COMPLIMENTARY Homebuying Consultation with my Team: tinyurl.com/VybeConsult
📰Get Practical Tips and Data To Navigate Buying A Home By Reading My Newsletter: tinyurl.com/LopatiNews
If you've ever wondered what an escrow account is or if you really need one, this video has you covered. I'll break down everything from how escrow accounts simplify tax and insurance payments to the benefits and potential downsides.
Learn how escrow accounts work, why they’re recommended for new homebuyers, and tips to keep on top of your mortgage payment breakdown. Save smart, build wealth, and understand the options for your next property purchase!
Thank you for watching!
Be sure to subscribe!
✅ SUBSCIRBE www.youtube.com/@justinlopatin?sub_confirmation=1
=====================
Hashtags:
#EscrowAccount #MortgageTips #FirstTimeHomebuyer #HomeBuying101 #MortgageAdvice #VybeMortgage #HomeFinance #JustinLopatin #homebuyers #escrowexplained
Timestamps:
00:00 - Intro
00:35 - Why You Need Escrow
01:15 - Mortgage Payment Breakdown
02:45 - How Escrow Simplifies Payments
03:40 - Monthly Payments vs. Lump Sums
05:15 - Escrow Balances and Lenders
07:05 - Lower Interest Rates with Escrow
08:20 - Setting Up Escrow at Closing
09:30 - Escrow Payment Management
11:00 - Reserve Funds Explained
13:15 - Seller Tax Credit at Closing
14:45 - Opting Out of Escrow
16:10 - Drawbacks of Escrow Accounts
18:30 - Track Your Escrow Account
20:00 - Outro
💼 Good Home Vibes Only ✌️ Get your home loans here!
www.vybemortgage.com/lo/jlopatin
Justin Lopatin
NMLS# 226780
Vybe Mortgage
Chicago - Florida
#RealEstate #RealEstateInvesting #JustinLopatinLO #Homeownership #homebuyingtips #homesellingtips
📞 Schedule a COMPLIMENTARY Homebuying Consultation with my Team: tinyurl.com/VybeConsult
📰Get Practical Tips and Data To Navigate Buying A Home By Reading My Newsletter: tinyurl.com/LopatiNews
If you've ever wondered what an escrow account is or if you really need one, this video has you covered. I'll break down everything from how escrow accounts simplify tax and insurance payments to the benefits and potential downsides.
Learn how escrow accounts work, why they’re recommended for new homebuyers, and tips to keep on top of your mortgage payment breakdown. Save smart, build wealth, and understand the options for your next property purchase!
Thank you for watching!
Be sure to subscribe!
✅ SUBSCIRBE www.youtube.com/@justinlopatin?sub_confirmation=1
=====================
Hashtags:
#EscrowAccount #MortgageTips #FirstTimeHomebuyer #HomeBuying101 #MortgageAdvice #VybeMortgage #HomeFinance #JustinLopatin #homebuyers #escrowexplained
Timestamps:
00:00 - Intro
00:35 - Why You Need Escrow
01:15 - Mortgage Payment Breakdown
02:45 - How Escrow Simplifies Payments
03:40 - Monthly Payments vs. Lump Sums
05:15 - Escrow Balances and Lenders
07:05 - Lower Interest Rates with Escrow
08:20 - Setting Up Escrow at Closing
09:30 - Escrow Payment Management
11:00 - Reserve Funds Explained
13:15 - Seller Tax Credit at Closing
14:45 - Opting Out of Escrow
16:10 - Drawbacks of Escrow Accounts
18:30 - Track Your Escrow Account
20:00 - Outro
💼 Good Home Vibes Only ✌️ Get your home loans here!
www.vybemortgage.com/lo/jlopatin
Justin Lopatin
NMLS# 226780
Vybe Mortgage
Chicago - Florida
#RealEstate #RealEstateInvesting #JustinLopatinLO #Homeownership #homebuyingtips #homesellingtips
Переглядів: 219
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Then I guess we just have to make dirty money to buy a house and live a normal life 😂
Yeah they're called illegals
No, no, no.. it means you just have to generate more dirty money yourself!
New housing where I live means luxury apartments. It drives rent up, not down
Not in my country
Thank you for taking your time and helping others. Good video
Yes, he is my president.
Awesome so if he takes the economy, that’s your fault then because you were dumb enough to vote for him
PRESIDENT TRUMP SHOULD WATCH THE SOOOO SOOOO MANY chinese TURNING WHOLE NEIGHBORHOODS INTO AAALLL chinese WITH chinese SIGNS WHO ARE THE ONLY ONES WHO CAN BUY THE EXPENSIVE CALIFORNIA HOMES IN CASH FROM chinese GOVERNMENT HELP!!! IN CASH!!! PLEASE PLEASE INVESTIGATE chinese ABILITY TO BUY EXPENSIVE CALIFORNIA HOMES IN CASH!!!! CASH!!!
I'm optimistic about the entirety of the economic playing field
Nope……..Federal land will be for fracking and drilling, NOT housing.
For real though our housing shortage is mostly an issue in urban areas (ya know places where people actually wanna be, thus higher demand) where there notably is not very much federal land. Even if we did open up federal land for housing development how many people would it be a realistic option for to live in the middle of a forest with no jobs or services? Only people who benefit are weird wealthy hermits or more likely, environmentally destructive corporations
Yeah sure, but spoilers: WE CANT EVEN FUCKING AFFORD IT.
No shit, but when the cheapest houses are 200k and they are abandoned crack houses from the 80s, I'm pretty much forced to rent...
Good
Their Banks, they're all crooks
Bad example. You didnt factor in rent, credit cards, etc. You just picked two random expenses.
“debt” not expenses
Very informative looking forward to using my equity for an investment property. Thanks a mill🎉
I like this a lot! I do this at one of my properties by Investing like a pro in multifamily real estate! It is life-changing and generational wealth-creating.
Utter nonsense.
@@mjmj8938 how so
Really want to take a step here and tap into our equity. We bought a 100 yr old plantation era house on Big Island, rehabbed and lived in it for almost 3 years. Initial cost was 150 easily put another 50 so 200 total, I feel it could be valued about 3/340 now. Houses do tend to sell fast here so timing it would be key.
Nice! Well, if you need some help thinking it through feel free to reach out. justin@vybemortgage.com
Sir it’s very unlikely that mortgage rate fall below 5%. This is true even if fed brings down the overnight bank rates close to 4%. The old mortgage rates like 2 or 3% will be history.
That'll only happen if the fed drops rates back down to less than 2%, and that's basically recession territory rates, which we will never know when it will happen. What we do know is that consumer debt (especially high interest unsecured debt) has never been higher (1 trillion...), and this can only go for so long until they default on this, which means they will also end up defaulting on car loans, and then their mortgages. I honestly can't wait, cause then it would mean I can actually buy a house...
I don’t believe I said they will fall below 5%. I said mid-low 5% range is very possible, however.
A little naive to think that the supply that may be created by homeowners who bought four years ago with existing mortgages loosing their lock-in effect will even compare to the demand by literally every family who rents right now.
THANKYOU JUSTIN
I would like to buy a building with my Equity. I bought a two family house in 2018 for $375,000 With hey don’t payment of $115,000 Now the value of the house is about 815 to 900,000 What’s the best to do?
@@tigerbalm8327 I can help you strategize. Let’s connect justin@vybemortgage.com
What is the salary I need to qualify for a 500.000 home? Please answer me that, thank you
@@oscarvelz5385 it depends on the down payment the the annual tax/insurance amount. Let’s say you put down 5% ($25k) and conservatively estimate taxes/insurance are an additional $700mo. Estimated payment would be around $3,800. You’d need to make $120k+ to qualify and afford this. **These are estimates**
U got be careful that ur rental has a dependable renter or you’ll get stuck with no payment money it can be risky between no rent paid n any repair cost needed any damages from the renter & any of their belonging removal they may stick u with
@@Lynn67mama very true, always risk to consider.
Thanks this was very helpful. We''re outgrowing our condo that we bought at the beginning of the pandemic but we got it for a good price and super low interest. The estimated value of our condo has gone up quite a bit while living here. This allows us to think about all the options for our family moving forward. Very detailed and straight to the point.
@@DailyRants89 thanks. If you want some advice thinking it through, let me know. This is what we do. Justin@vybemortgage.com
Very detailed explanation covering all aspects of home equity. The last suggestion is the best- getting equity out to purchase another property. Meanwhile, the rent is covering the first house!
Yeah, the government who makes the problem is going to solve the problem. I have a bridge in Florida for sale.
Honolulu, Hawaii 😂
Switzerland is also strict on immigration and strong borders. I loved living there.
@@SM_zzz interesting. Makes sense
Best explanation
Thank you!
Hello may I olease have an email for you? I have dome questions and need help like last couple weeks lol please and thank you.
Unless you can buy it outright with no mortgage and house is a liability
And...? You can build with with a "liability" in case you didn't realize that. Everyone needs a place to live.
@@justinlopatin but too many are house poor
@@electrodynamicorb6548 40% of the country has NO mortgage. About 50% of current mortgage holders have a mortgage balance of 50% or less of their home's value. So they are sitting on $100k-$300k in home equity in many states.
@@justinlopatin not in my area. Those would be dilapidated shacks
You have to keep in mind too, that we are ten times bigger than most of those other countries, so it's not surprising at all that we have several cities included in that list.
Good point
New York City taxes also make the cost of living in New York insane. They have the highest tax rates in the country.
The ones on Switzerland are beautiful, clean, safe and have good infrastructure. That is NOT the case for US cities. You definitely don’t get what you pay for here
That’s the price you pay for living in the best country in the world, we are privileged nearly beyond belief
Cons hurricanes Don’t let the water and weather fool you …. Would rather take the snow
Gen be like: oh man😅
There are many details that are not mentioned here. Most lenders will only allow 80-85 percent loan to value. Also, debt to income may be too high to buy that 2nd home and the lender will need to see rent transactions to approve the next purchase
Both good points. You cannot borrow all of your equity.
Appreciate the knowledge trying 2 get another house here in CALIFORNIA #venturacounty & rent it out interest rates r crazy right now
Send me an email if you need help thinking it through justin@vybemortgage.com
Here’s a great way to make some extra cash! 1. Get a roommate…?
....?
@@justinlopatinwoof, im saying this video is just “You can save money if you get a roommate! Here is a list of cities to do that in.”
@@Plempythe video briefly explains house hacking, and then lists the top 10 cities for buyers and investors per a recent study on rental properties. If that’s all you got from it… 👍
@@justinlopatin Sodium chloride mf
@@justinlopatin sodium chloride response
The chances that rental income will cover the payment plus all operating costs of a home rental with a $300k principal balance plus a $50k line of credit on a $400k market value is effectively zero. If you rent out a house under this advice, you’re going to pay out of pocket for every repair and NWT maintenance item. The advice only works under very specific market conditions where rents go super high in relation to value, which is only seen in boom/bust conditions. Show me the pro forma for this model, and I guarantee the numbers won’t add up. Great New Jersey used car salesman pitch, though … you almost had me until the advice piece. 🤣 Bad numbers only work for suckers and chumps. 👎👎
Of course you have to run the numbers to see if the rent would cover the mortgage and HELOC payment but it's sound advice if doable.
None of those will work, because the builders are slowing down on building. because they're trying to hold out, hoping people will pay top dollar for these houses. When in actuality most normal people cannot afford a 400,000 starter home. And most of that is in land value. And that's not going down anytime soon
I see your point, however, there is a lot of new construction happening in many states: www.nationalmortgagenews.com/list/20-states-with-the-most-new-construction-approvals?NL_NMN_Daily_Briefing_09302024&position=1&campaignname=NL_NMN_Daily_Briefing_09302024&oly_enc_id=5801B0446078J6Y
ty for sharing
Of course, that's insane its as bad as the bank bailouts.
Your such a great teacher. I look forward to learning more from you. Do you offer classes.
Just homebuyer and real estate classes.
@@justinlopatin how can I apply and join the classes .
@@kibirigevandross5174 keep an eye out, we will share the registration links for homebuyer classes here and on my IG page @justinlopatin
EXCELENT EXPLANATION WOW thank you!
Glad it was helpful!
Fuck no
I think you’re broke
Think again!
@@justinlopatin Don’t have to. I know you’re broke 😂 Prove me wrong with documents loser hah
Hell no no that’s insane a slap in the face to Americans.stimulis checks was bullshit compared to what they want to give the immigrants houses there’s over 65 thousand immigrants democrats suck