Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for your sharing. Your knowledge is greatly help me. I really love the video you share. I would like to know more about how the bidding process. Thank you !
Finally got the book and read it, its amazing. I am planning to become a mortgage agent, is there a way you can help me to join a brokerage if I have passed the exam? I am in Ontario
Hi Nolan, I cosigned a mortgage, now I want to go out and when my sister that I cosigned for contacted her lender for a refinancing, they responded that her credit score is good, her income is good but that she needs to be in that job for a longer time, meanwhile she has been doing that job since 2021 permanent job for that matter. Please what should we do?
In general if you don’t work where you are trying to buy an owner occupied property you won’t get a mortgage unless your employer confirms you can work remotely.
Thank you for the video, my question for you is if I am approved to pull a say 450k mortgage, with 60k down, but i wanted a 500k mortgage, would that mean i would need to save 50k (i dont believe so) or does your down payment typically get leveraged. And if it does, to what extent (would i need 5k 10k 15k 30k more?)
If you’re approved for 450 that’s how much you are approved for. If you want to buy for more you need to add to your down payment, you won’t get a bigger mortgage.
Wish you covered what a self-employment person would have to bring for pre-approval since more and more people are starting their own business and I feel like not many people cover advice/tips for those who are self-employed😅 I believe I have to show a mortgage broker/bank my past two years of income and they avg it out?
Hey Nolan, I've got a short term rental that is grossing about 70K/year but it's less than a year old and I'm told (by a broker) most lenders won't consider that income until it's on my income tax statement. Can I just lease it to a family member, if they want to see a lease? I don't understand why it wouldn't be considered when leases are... any advice?
@@roseoverdose6451 if it’s legit and it’s her operation then that’s probably okay, but if it’s not 100% what’s happening it’s playing in the grey area.
Looking to sell my current condo and possibly upgrade. Now I have roughly 200k in equity so if I get pre-approved for let's say 250k. Would I have to be looking at properties in that price range or the price range of 250k plus my equity since I'll be placing that equity onto that unit
Hi Nolan, I really appreciate your videos of breaking this all down for first time home buyers. I do have a question regarding this topic. My fiance and I plan on moving to another city within the province within the year. Now of course what comes along with that is new jobs in that area we are moving to. My question is, if we found a house that we wanted in the area we are moving to, would we be able to go through this process before moving/changing jobs? VS moving, staying with relatives, getting a job, and not having a year salary to give? Once again appreciate your videos. Keep them coming.
I am looking to buy my first home but I am looking to use it as investment property and not looking to live in it. Do I have to make a 20% down payment or 5% down payment would work?
Great video. What about a video determining the pre-approval methodology of a self-employed person who is not making a huge salary (ex. $50,000) but has a considerable amount of savings (ex. $1,000,000) and has great credit.
Self-employed income is typically calculated by using a 2 year average, however the initial pre-approval amount could be more or less depending on document verification, negotiation and the program you go through. Working with a mortgage agent would be your best choice, as we have access to a variety of products and lenders that cater to your needs. Good luck Colin!
Your silver/gold video -- you need to turn on the comments, because a lot of people will educate you. You didn't get ripped off when you purchased. The value of the 2 10-ozt bars is about the same when you go to sell them. If anyone was ripping you off, it was when you went to sell them. Sunshine and generic should be less than $5 difference. The other - BIGGER - problem is that you don't accurately explain the purpose of physical precious metals. You're right that they aren't an investment; they're insurance. You may not want a massive amount, but you should have some gold and silver in case the grid goes down or some other kind of emergency where you don't have access to credit cards or cash.
If you receive a pre-approval for $230k for example, but end up wanting a house that is $250k or $200k is it possible to update the approval by the respective amount or is that another application from scratch? Thanks for all the videos it has been so helpful!!!
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I can't tell you how grateful I am for simple to follow instructions and advice on home buying! I feel way less confused now. Thank you :p
Thank you for your sharing. Your knowledge is greatly help me. I really love the video you share. I would like to know more about how the bidding process. Thank you !
by what time gift is to be submitted in bank so as letter is not asked ?
I love the deep knowledge of your channel. I heard you mentioned the course for 1st time homebuyer? Can you send me the link? How much is it?
If I work In sales and my base salary is 100k and 75k in commission so 175k on target earnings, what would be consider as my income?
Finally got the book and read it, its amazing. I am planning to become a mortgage agent, is there a way you can help me to join a brokerage if I have passed the exam? I am in Ontario
Hi Nolan,
I cosigned a mortgage, now I want to go out and when my sister that I cosigned for contacted her lender for a refinancing, they responded that her credit score is good, her income is good but that she needs to be in that job for a longer time, meanwhile she has been doing that job since 2021 permanent job for that matter. Please what should we do?
very helpful
For getting pre approval to buy home in calgary, we need a alberta employer?? Plz update.
In general if you don’t work where you are trying to buy an owner occupied property you won’t get a mortgage unless your employer confirms you can work remotely.
Thank you for the video, my question for you is if I am approved to pull a say 450k mortgage, with 60k down, but i wanted a 500k mortgage, would that mean i would need to save 50k (i dont believe so) or does your down payment typically get leveraged. And if it does, to what extent (would i need 5k 10k 15k 30k more?)
If you’re approved for 450 that’s how much you are approved for. If you want to buy for more you need to add to your down payment, you won’t get a bigger mortgage.
Thanks for a great comprehensive video, that is has complete information on preapproval for mortgage. I only wish you would speak slower. Cheers
Cool tip. You can adjust the playback speed in the video settings to slow it down.
Wish you covered what a self-employment person would have to bring for pre-approval since more and more people are starting their own business and I feel like not many people cover advice/tips for those who are self-employed😅 I believe I have to show a mortgage broker/bank my past two years of income and they avg it out?
Yes, good point - tax returns and notice of assessments is the norm. :)
Sounds like a good idea for a stand alone video to me.
@@NolanMatthias Yes I agree. been waiting for a video that covers details of self employed working from gig to gig
Hey Nolan, I've got a short term rental that is grossing about 70K/year but it's less than a year old and I'm told (by a broker) most lenders won't consider that income until it's on my income tax statement. Can I just lease it to a family member, if they want to see a lease? I don't understand why it wouldn't be considered when leases are... any advice?
My advice would be not to do that, it would be mortgage fraud. If you want some honest help with it go apply online and we’ll see what we can do.
@@NolanMatthias Mortgage fraud if she's actually leasing it, and running the STR? OK though, I'll do some more research and apply online.
@@roseoverdose6451 if it’s legit and it’s her operation then that’s probably okay, but if it’s not 100% what’s happening it’s playing in the grey area.
Looking to sell my current condo and possibly upgrade. Now I have roughly 200k in equity so if I get pre-approved for let's say 250k. Would I have to be looking at properties in that price range or the price range of 250k plus my equity since I'll be placing that equity onto that unit
Hi Nolan-Are you a mortgage broker?? If so- I need help with a mortgage
Hi Nolan, I really appreciate your videos of breaking this all down for first time home buyers.
I do have a question regarding this topic. My fiance and I plan on moving to another city within the province within the year. Now of course what comes along with that is new jobs in that area we are moving to. My question is, if we found a house that we wanted in the area we are moving to, would we be able to go through this process before moving/changing jobs? VS moving, staying with relatives, getting a job, and not having a year salary to give?
Once again appreciate your videos. Keep them coming.
Yes - it is definitely possible.
I am looking to buy my first home but I am looking to use it as investment property and not looking to live in it. Do I have to make a 20% down payment or 5% down payment would work?
Yes - you will require a 20% down payment if you don’t intend to live in it.
Great video. What about a video determining the pre-approval methodology of a self-employed person who is not making a huge salary (ex. $50,000) but has a considerable amount of savings (ex. $1,000,000) and has great credit.
Self-employed income is typically calculated by using a 2 year average, however the initial pre-approval amount could be more or less depending on document verification, negotiation and the program you go through. Working with a mortgage agent would be your best choice, as we have access to a variety of products and lenders that cater to your needs.
Good luck Colin!
@Troy W why would anyone do that with loan rates at all time lows?
Your silver/gold video -- you need to turn on the comments, because a lot of people will educate you. You didn't get ripped off when you purchased. The value of the 2 10-ozt bars is about the same when you go to sell them. If anyone was ripping you off, it was when you went to sell them. Sunshine and generic should be less than $5 difference. The other - BIGGER - problem is that you don't accurately explain the purpose of physical precious metals. You're right that they aren't an investment; they're insurance. You may not want a massive amount, but you should have some gold and silver in case the grid goes down or some other kind of emergency where you don't have access to credit cards or cash.
If you receive a pre-approval for $230k for example, but end up wanting a house that is $250k or $200k is it possible to update the approval by the respective amount or is that another application from scratch?
Thanks for all the videos it has been so helpful!!!
It’s usually just a quick update to your existing pre-approval :)
You’re welcome.
For the algos!
Hello Nolan. why is my credit score on Credit Karma different from Equifax, that being said which one is accurate
Just don't
okay yeah get a loan at 2% 😂😂😂😂😂 2 year's later 7% .... omg ur bad