Andrew, you are an amazing person who would share such a wealth of knowledge. You have helped me immensely in feeling confident in making the right decision. I have studied and taken notes on dozens of your videos so when I got pre qualified, I pulled the trigger! The right home was the first home I looked at! Really, I calculated the satisfaction index and it was at a 90 percent. I knew I would be chasing the features on this home forever, so I made an offer that the seller could not refuse. I could do it financially and why not pay a few thousand over appraisal to get the home that I truely felt was worth the price. Wow! I sent a letter to the homeowners to explain I was love struck big time. I WON THE HOME!!!
I am always curious why I do the things that I do. I came here looking for a little information and found you but got more than I bargained for. You are so helpful and it's amazing that this information you're giving free. My own friends couldn't give this valuable information. Wow!! I really appreciate you.
Hey Andrew, great videos as always. You help increase my real estate IQ every time you upload a new video. I do have a question. For closing cost, does it have to be all in cash?
Your videos have been very helpful. I plan on buying my first house this year and I learn something new every time I watch one of your videos. I will be well equipped for what's to come thanks to videos like this. I also like that you are a combat Vet. You look close to my age, I take it you were in the Iraq War? We might've been in the sandbox around the same time. I was in the USMC from 02-06. OIF 1,2 & 3 (Baghdad/Babylon, Fallujah & Jordanian border) Cheers man! SEMPER FI!
Lol... That's hilarious! Perhaps said another way, "if a buyer job hops it will make their jaw pop!" lol... Have a great day and thanks for stopping by!
wow, a lot of great tips. Regarding large deposits into account: if the down payment money is currently in online savings account, and the "seasoned" period is 60 days, so is it recommended to move the down payment money from the savings account to the checking account(this account is where the cashier's check will be issued) more than 60 days before the pre-approval process start? The reason for moving is that I heard cashier's checks are usually used for the down payment amount, and it's much easier to get the cashier's check from the brick-and-mortar checking account.
How can a normal person making 65k a year can afford to buy a home with all this money for down for safety net for closing for inspection and the three months required to have on a 200k home ?
Andrew Your videos have helped me tremendously! I am getting ready to buy my first home and have one question. I am -‘ self employed and have 2 years of tax returns but it is now February 2022 and if I buy new construction in March and taxes are do again in April 2022 but I file a tax extension and the taxes are due in August can this cause problems with my new home purchase? For example if the house construction isn’t complete until December 2022 will they then ask me for another year of taxes? I need to know this before getting started. Thanks so much!
Andrew thanks for the great advice. I have a question for you. I retired 3 yrs ago from the Fed government and I live solely on my pension. At the time of my retirement, I withdrew money from my thrift savings plan to pay off debt of a family member with the promise to pay me back within a few years. Well he can pay me back now the $20,000 which I can definitely use to buy my home. But is this okay? I do have the documentation in regard to the the TSP withdrawal. What should I do?
What about renting a car? We are trying to go from Texas to Florida in just over a year. We are selling one of our cars because of issues with it. We do want to get a 2nd car when we move. Could we rent one and be okay still to close? Also with moving money, if we have all our closing money in savings would it be a red flag if we move it from savings to checking?
You mention working with a loan officer 3-12mo in advance. I've tired!! NOBODY wants to "waste time" (I guess) on someone they will not be making money off of right now 😖 They all want to run my credit NOW and I know I don't qualify and don't want the inquiry right now. 🤷🏼♀️ I'm waiting for a bankruptcy to age, I tell them that and they shut up and say call me when it's 2 years old. It'll be 2 years in like 4mo, but how do I work with them between now and then? Also, is it horrible if I have established SEVERAL new lines of credit in the preceding 24mo prior to applying for a mortgage? All in good standing, low DTI, low utilization. But it is several.
How much is considered a big deposit? I get checks all the time from customers and wondering if $1000 is considered a large deposit? Am I allowed to deposit large customers checks into the account?
Thank you for the video, Andrew. I am curious, does the two-month "seasoning period" apply to cash sales? I can certainly establish proof of funds, and I want to avoid any slips.
Lol... I enjoy the symbolism and stories within art, in this case a Thomas Kinkade. To me, the light house represents the truth and inner light withing me being shared with wary voyagers in the storm of life guiding them with a beacon of hope to safe harbors if only they will see and hear. Anyhow... Changing it all up for 2020. =) What would you like to watch next?
Hi Cynthia! Thank you for watching! Great question. In short will depend if your are moving to a new area as a job transfer or if your new job is within the same industry as your previous job. The best practice here is to identify a trusted real estate advisor to work with that can connect you to a solid loan officer to review your situation and best advise you. Here's a few video's I've made about buying a house out of state and moving to a new city: 8 Tips for Buying a House Out of State: ua-cam.com/video/0AxlzBl8N3g/v-deo.html How to Buy a Home in Another State: ua-cam.com/video/eVUdAa4NuO8/v-deo.html Buying a House in a New City: ua-cam.com/video/WNPWUjRI764/v-deo.html Hope this helps my friend. What would you like to see next?
If I change jobs now and try to buy a house say 8 months from now, are they going to say I haven't been at my job long enough? And also, I had a charge card and the company closed my account because I never used it.. That shows on my credit report as closed account. Is that going to look negative? I have an excellent credit score.... And it was about 6 years ago that the account was closed..
Excellent question! No, using your 401k to buy a house will not cause any red flags. I’ve worked with many people who did the same thing and it went smoothly. Sending you positive vibes everything goes your way. 🙏
Is it possible to take out a big big vehicle loan the very DAY AFTER the keys to the home are in my hands?? Will the home show up on my credit that fast??? Day after I've closed on the home
No, you don’t want to do that either because that’s a large lump of cash being pulled out of your account at once... Unless you’ve been saving physical cash at home and not in a bank. If it’s in a bank and you spend any chunk of change, they will question it.
Awesome video and super helpful tips. Just found your videos today and already watched 3! Going to be doing a lot more research based on your tips for things I didn’t know about (for example, going to be looking for some clarification on the appraisal vs offer amount and the difference there. I’m assuming you are saying the bank would only cover up to the appraisal amount and you must cover the difference on your own, but I didn’t know this before!) awesome videos, we need more people like you!
Hi TeddaTv, Thank you for watching! In short, No! Not unless you'd like to live in your car opposed to your new home! lol... The best practice here is to review ANY financial considerations with your mortgage loan officer to ensure everything stays on track with your mortgage to close. Unless your mortgage loan officer shares with you otherwise, it's a general rule of thumb NOT to take out any new debts, credit cards, store cards, make large purchases, or do any refinancing. Chat with your loan officer about what's on your mind. You can always refinance your car after you close. Sending you positive mojo everything works out well for you! Thank you for watching. What would you like to see next?
Andrew, you are an amazing person who would share such a wealth of knowledge. You have helped me immensely in feeling confident in making the right decision. I have studied and taken notes on dozens of your videos so when I got pre qualified, I pulled the trigger! The right home was the first home I looked at! Really, I calculated the satisfaction index and it was at a 90 percent. I knew I would be chasing the features on this home forever, so I made an offer that the seller could not refuse. I could do it financially and why not pay a few thousand over appraisal to get the home that I truely felt was worth the price. Wow! I sent a letter to the homeowners to explain I was love struck big time. I WON THE HOME!!!
I am always curious why I do the things that I do. I came here looking for a little information and found you but got more than I bargained for. You are so helpful and it's amazing that this information you're giving free. My own friends couldn't give this valuable information. Wow!! I really appreciate you.
Andrew, just noticed that you were a Marine. Thank you for your service and all these helpful videos!
First, your voice is so soothing. After, you give the best advice.
Wow, thank you Maria Mercado! You're the best!
What would you like to watch next?
Your inputs are golden tips. Thanks
Thank you so much for your kind words 😇 Sending you positive vibes everything is going your way 🙏
You're the best man! You have great advices. Keep up the great job!
Richard Ortiz He’s your best man? Belated congratulations on getting married.
Hey Andrew, great videos as always. You help increase my real estate IQ every time you upload a new video. I do have a question. For closing cost, does it have to be all in cash?
Your videos have been very helpful. I plan on buying my first house this year and I learn something new every time I watch one of your videos. I will be well equipped for what's to come thanks to videos like this. I also like that you are a combat Vet. You look close to my age, I take it you were in the Iraq War? We might've been in the sandbox around the same time. I was in the USMC from 02-06. OIF 1,2 & 3 (Baghdad/Babylon, Fallujah & Jordanian border) Cheers man! SEMPER FI!
You sir have the best advise of anyone ive seen yet thank u
this is such a helpful video! so many people don't know these things! great video!
Amazing Information... You’re Awesome💕
still watching all your videos, helped me a ton, thanks man!
Glad to hear it Geoff! What would you like to watch next?
I kept hearing “jaw pop”. Glad you subtitled “job hop” 🤭 and convinced me not to break up with Wells Fargo … at least until closing
Lol... That's hilarious! Perhaps said another way, "if a buyer job hops it will make their jaw pop!" lol... Have a great day and thanks for stopping by!
wow, a lot of great tips. Regarding large deposits into account: if the down payment money is currently in online savings account, and the "seasoned" period is 60 days, so is it recommended to move the down payment money from the savings account to the checking account(this account is where the cashier's check will be issued) more than 60 days before the pre-approval process start? The reason for moving is that I heard cashier's checks are usually used for the down payment amount, and it's much easier to get the cashier's check from the brick-and-mortar checking account.
Thanks Andrew. Great video
Very good 👍 info. Thanks
Thanks for the great advice ,
You bet Alex!
What would you like to watch next?
How can a normal person making 65k a year can afford to buy a home with all this money for down for safety net for closing for inspection and the three months required to have on a 200k home ?
Great information is very valuable
we need you in Honduras lol Thanks
Andrew Your videos have helped me tremendously! I am getting ready to buy my first home and have one question. I am -‘ self employed and have 2 years of tax returns but it is now February 2022 and if I buy new construction in March and taxes are do again in April 2022 but I file a tax extension and the taxes are due in August can this cause problems with my new home purchase? For example if the house construction isn’t complete until December 2022 will they then ask me for another year of taxes? I need to know this before getting started. Thanks so much!
Andrew thanks for the great advice. I have a question for you. I retired 3 yrs ago from the Fed government and I live solely on my pension. At the time of my retirement, I withdrew money from my thrift savings plan to pay off debt of a family member with the promise to pay me back within a few years. Well he can pay me back now the $20,000 which I can definitely use to buy my home. But is this okay? I do have the documentation in regard to the the TSP withdrawal. What should I do?
What about renting a car? We are trying to go from Texas to Florida in just over a year. We are selling one of our cars because of issues with it. We do want to get a 2nd car when we move. Could we rent one and be okay still to close? Also with moving money, if we have all our closing money in savings would it be a red flag if we move it from savings to checking?
You mention working with a loan officer 3-12mo in advance. I've tired!! NOBODY wants to "waste time" (I guess) on someone they will not be making money off of right now 😖 They all want to run my credit NOW and I know I don't qualify and don't want the inquiry right now. 🤷🏼♀️ I'm waiting for a bankruptcy to age, I tell them that and they shut up and say call me when it's 2 years old. It'll be 2 years in like 4mo, but how do I work with them between now and then? Also, is it horrible if I have established SEVERAL new lines of credit in the preceding 24mo prior to applying for a mortgage? All in good standing, low DTI, low utilization. But it is several.
Another great video!
Nope. Credit bureaus still kept inquiries within 30 days from same lender on my report. It's bs
Great advice and channel!
Thank you very helpful
Great job Andrew
How much is considered a big deposit? I get checks all the time from customers and wondering if $1000 is considered a large deposit? Am I allowed to deposit large customers checks into the account?
Thank you for the video, Andrew. I am curious, does the two-month "seasoning period" apply to cash sales? I can certainly establish proof of funds, and I want to avoid any slips.
Funny you live in the middle of a vast brown desert and have an Oregon coast type lighthouse as a backdrop :)
Lol... I enjoy the symbolism and stories within art, in this case a Thomas Kinkade.
To me, the light house represents the truth and inner light withing me being shared with wary voyagers in the storm of life guiding them with a beacon of hope to safe harbors if only they will see and hear.
Anyhow... Changing it all up for 2020. =)
What would you like to watch next?
What if you are moving to a new area because of a job? How does this affect your ability to purchase?
Hi Cynthia!
Thank you for watching!
Great question. In short will depend if your are moving to a new area as a job transfer or if your new job is within the same industry as your previous job.
The best practice here is to identify a trusted real estate advisor to work with that can connect you to a solid loan officer to review your situation and best advise you.
Here's a few video's I've made about buying a house out of state and moving to a new city:
8 Tips for Buying a House Out of State: ua-cam.com/video/0AxlzBl8N3g/v-deo.html
How to Buy a Home in Another State: ua-cam.com/video/eVUdAa4NuO8/v-deo.html
Buying a House in a New City: ua-cam.com/video/WNPWUjRI764/v-deo.html
Hope this helps my friend.
What would you like to see next?
What happens if we don't have an agent to represent us when looking for a new built home? What do they have access to that we don't as regular buyers?
If I change jobs now and try to buy a house say 8 months from now, are they going to say I haven't been at my job long enough?
And also, I had a charge card and the company closed my account because I never used it.. That shows on my credit report as closed account. Is that going to look negative? I have an excellent credit score.... And it was about 6 years ago that the account was closed..
what if the money will come from 401k to help for closing cost and downpayment will it be red flag?
Excellent question! No, using your 401k to buy a house will not cause any red flags. I’ve worked with many people who did the same thing and it went smoothly. Sending you positive vibes everything goes your way. 🙏
Is it possible to take out a big big vehicle loan the very DAY AFTER the keys to the home are in my hands??
Will the home show up on my credit that fast??? Day after I've closed on the home
You can but let them know you have bought a house.
We had to explain how we came up with $2k earneat money. We saved our tax refund, which was a direct deposit. Easy to.show.proof via bank statement.
Hey Andrew, is it okay to purchase a used car all cash once you have enough to pay for the down payment and closing costs?
I believe it is, they just don't want you to get a car note, nothing that will go on your credit report and change your debt to income ratio.
No, you don’t want to do that either because that’s a large lump of cash being pulled out of your account at once... Unless you’ve been saving physical cash at home and not in a bank. If it’s in a bank and you spend any chunk of change, they will question it.
Do you have to change banks when you move? I'm moving about 30 miles away and want to keep everything the same i work in NYC but moving to NJ.
Thx but answer the question
So my husband just sold his truck and but some money in the bank . Will that hurt us
Becoming an authorized user on someone’s account, can this help you or hurt you when buying a home? Will it help your credit?
what if I was late making my auto insurance, but no laps in insurance? I paid 1 week late.
Top agent in Broward County Fl. Thank u
Really awesome helpful information but two points of criticism, get a dedicated microphone and talk a little bit more slowly.
Interesting
How about buying a cheap car without a loan. Withdrawal like 2k from my savings account
Hi, Great Information! Do you need a Realtor to buy a home?
I've read no but it's best you have one
Awesome video and super helpful tips. Just found your videos today and already watched 3! Going to be doing a lot more research based on your tips for things I didn’t know about (for example, going to be looking for some clarification on the appraisal vs offer amount and the difference there. I’m assuming you are saying the bank would only cover up to the appraisal amount and you must cover the difference on your own, but I didn’t know this before!) awesome videos, we need more people like you!
This guy bounces more than bugs bunny
Is it ok to refinance my car while I’m in the process of buying a home ????
Hi TeddaTv,
Thank you for watching!
In short, No! Not unless you'd like to live in your car opposed to your new home! lol...
The best practice here is to review ANY financial considerations with your mortgage loan officer to ensure everything stays on track with your mortgage to close. Unless your mortgage loan officer shares with you otherwise, it's a general rule of thumb NOT to take out any new debts, credit cards, store cards, make large purchases, or do any refinancing. Chat with your loan officer about what's on your mind.
You can always refinance your car after you close.
Sending you positive mojo everything works out well for you!
Thank you for watching.
What would you like to see next?
Andrew Finney Team appreciate the response thanks a lot. 🙏🏾
This video is really for the sub primes.
❤❤❤❤
Hi Andrew, please try to move less. It makes me dizzy. Great advice and well delivered tho. Thank you!
Sit down when you talk to folk on U-tube, so dispectfu.,
Awesome info!!! ❤️