Nothing like having Exceptional credit but not enough income to compete in this highly inflated real estate market. Forced to keep renting in order to save more money. Very frustrating.
Even in Rural areas, it feels like the goal post keeps moving. We started really saving 4 years ago, when we moved to a better apartment, and the budget we have now would have gotten us a 'forever home'... 4 years ago. And I can't justify maxing out our loan for a place that would need serious renovations to be a comfortable place to live.
I’m right there with you. I have a 790. No debt. Paying $1500/mo for my apartment. Never late. Same apartment for 7 years. But I’m low income so nobody will loan to me.
Who needs college when you can just delve into the world of UA-cam University ! Lol I’m so grateful to have this kind of information readily available at the click of a button. Thank you for what you do
False because not all youtube info is credible. Be sure to do your own research. And some professions require a college degree. Also if you want a credible free degree, there are free legitimate online colleges or go to your local library.
You crammed a TON of information in under an hour! I always look for new uploads from your channel. Never mind that I've already Won the House I Love! Your content made the process much less daunting and mystifying.Thank you! THANK you! THANK YOU!
I'm in southern California and now that you've broken it down its frustrating that there's a stigma around less than 20% down. Depending on the market the total amount you'd pay in insurance even at highest rate is way less than the upfront cash of 15 or 17% of total home cost for the down payment. AND you can remove insurance after paying enough equity! Buying a home is challenging but seems way more affordable now. Thank you for walking through these requirements and making this information available to everyone. It makes the whole prospect seem much more realistic/doable.
Low score or not there are places that can repair your bad reports and approve youforloans, you just got to have the right info thats all. Knowledge is key
Hi Kyle new subscriber I have been watching all of your videos learning the process for buying a house and I learned so much for when I'm ready you explain everything so well .I have been waiting for this video so thanks great work .
Thank goodness for the news on travel nurses… went from making 90k as a staff nurse to over 190k as a travel nurse and got denied because I was a travel nurse. I was told that I did not have steady income or too unreliable to determine long term…
Listening to all of this is definitely helpful and I'm starting to think that I'm definitely not ready to become a first time home buyer. Continuing to rent might still be my best option. Great video and channel. 👍👍
I am a new loan officer & this dude is helping me a lot about the industry, products and to help my clients better & to be confident when explaining to clients.
Hey man! Found the channel recently and I love your content! Very informative and your voice over is edited extremely well! It sounds great! I was curious, though, if you'd be interested in making a video about down payment assistance? The pros and cons, usage, different types, and whether or not you'd recommend them! Either way man great job on the videos!
Wow! I'd be adding that to my to-do list. You can also check this video, this might be an option. Here's the link: ua-cam.com/video/zcI7gdPPtXI/v-deo.html Thanks for watching. :)
@@WinTheHouseYouLove hey v man I appreciate that! I'll be sure to check it out!! I'm trying to househack my way into a first multifamily, so your channel has been invaluable to me. Keep up the good work and I look forward to your future videos :)
I love your channel , you taught me so much that I wasn't aware of . I'm still waiting to find a house the supply and demand is insane but the interest rates right now is crazy to think it was around 2.5% to 3. percent
Do you have a video in different ways to possibly finance land and build a house in that land? Is it possible at all or for lower credit scores and can it be done through the VA program?
Appreciate the step by step guide of the home buying process. My wife and I have some spare money and income but don't want to get taken for a ride, it's good to have this knowledge.
You shared a lot information regarding purchasing existing homes, what about if you were to seek a loan to build a new home, can you still apply for the loans you are talking about?
Can I say!!..I ❤️ your voice!! It’s so soothing so needed during all this crazy & depressing 🏠 stuff! Thank you for all u do on ur channel & sharing ur amazing voice with the world!!.😊..I’m still in the ATL 🏠 market it’s been horrible but I’m still trying!!..
Thank you so much ! Very thorough, well thought out, and great deliverance. Your tonality on point too. I was just saying that most of the videos I’ve been scouring through were monotonous and my attention span just couldn’t stay attuned 😅 however I found your channel by luck and now subscribed.
Hey! Thanks for the advise and the creepily specific examples your giving. I'm looking around the northern Cincinnati area and can literally see the plot im interested in on your map @ 10:53 ish haha. I've watched about 5 of your videos now. Thanks for all the data driven information my good man!
I have question as a first time home buyer. Can I buy rental property with 20 percent down? I am.looki g properties in different state but not plan to move there. Or i have to buy primary residence as first home?
Hi thanks for all your amazing videos, I've learned so much! I wanted to know please, if a person is homeless but has worked in the same place for years- can they qualify for FHA and Home Assistance?
Amazing info! As a first time home buyer can I buy a mix unit (2,3 apartments and a bussiness on first) or I can only use a multifamily or single only? Or how can I aquire a mix unit. Am from Brooklyn NY. Thanks😊
Probably a weird question in todays market but what would happen you are buying at 2/3 appraisal value of a home? I.e. would I still need to have at least a 3.5% down payment or would that be able to be waived since the loan is significantly lower than the appraised value of the home? And if it does still require a down payment would PMI likely be able to be waived with that much equity?
My husband and I had to put down 20% to get a conventional loan on a second home and we were told that by multiple lenders. We both have 770+ credit score, $250k/ annual income and no debt apart from the mortgage on our primary residence.
Plus we had to show that we had at least 6 months of mortgage payments. Thankfully we have all that but...Still. We live in California so I don't know if that's just here.
If you want to purchase a fixer upper home as your primary residence what type of loan would you need? I would be very interested in a video like this.
I loooove how you break things down! Thank you. Q: what should I do before I get a loan as in lawyer or financial advisor ? Can you do an example of a cheap fixer upper home like $125,000? I'm very intrested in learning more.
Love this video you have answered so many of my questions #first time home buyer I can do this no more procrastinating I feel more at ease thank you so much you were so easy to understand and not feel afraid 😊
Wowww!! 😍🤩🤩This is the BEST educational video out there regarding home buying nitty gritties. Thank you so much for the wealth of information. You answered a lot of questions I have always had! Love the work you do. And your voice is so soothing, I enjoy listening to you when I can’t sleep. 😇😁😁
Question: If you're a first time home buyer looking to purchase an investment property, can you still put 3% down or does that still have to be 15%+ because it's an investment?
How long should someone own a "starter home" before selling it to move to a bigger house? We are renting and I want a modest 3 bd 2 bath house, but that is quickly becoming a pipe dream on our budget. We don't want to live in a 'fixer upper' either.
Thank you for breaking this down. Question: Can you pay your mortgage, and also attack the principle at the same time? Let's say mortgage is 1200. But i make a second payment of 500 to attack the principle. Would that be beneficial? Would that even be allowed?
I did this and this really help husband and i to get our home before all this crazy inflation. With the housing inflation this helped us to get our house appraised to get rid of the pmi.
Is it possible to get fully financed conventional loan or down payment assistance/ grants with conventional loan? I have medium credit score 802, but need assistance for down payment and closing. 22+ years on the job, longest credit account 20 yrs, $55,393.89 annually. 2 Student loans $16000 paying $128.68 a mo for both.$500 credit card that will be paid off soon, no other debt. Any advise?
Brilliant video demystifying the home buying loan process! Thanks Case - I am moving to USA as intra company transfer. Have above 800 credit score in home country. Question - Will I be able to get conventional loan in first few months OR have to wait for one or two year to prove credit score and employment in USA?
Connecticut is not part of the high balance areas but my lender asks that I still pay 5% instead of 3% down🤔. Im a first-time home buyer with great credit!
I’ve been watching your videos for a while and it’s all been great information but I am looking to utilize my VA home loan, are you going to be making a current video about VA loans anytime soon?
From my experience, VA loans are looked down upon...not sure how this is a benefit. I'm at the point where I need to decide if I'm priced out or keep trying. Wish you well
My husband bought a mobile home under his name only and I’ve never purchased a home before. Will we only need 3% down as I am a FTHB? We are trying to save well over that amount, but just clarifying. Your videos are incredibly helpful and I’ve been happy to share them with friends/family that are also looking to purchase.
Man you are so clutch. I have a question. I’m a first time home buyer and I’m looking to purchase a 4-unit. I just want to make sure would that be consider an investment property (which would require 15% down) or I could still put 3% down? Thanks again🙏🏾
Thanks for watching! The chart below can help out. If you're going to live in 1 unit and rent the other 3, you would need to put 25% down: singlefamily.fanniemae.com/media/20786/display
If you're going to live in that home , make sure you tell the bank ( broker ) that its going to be your primary home and you're good to go. When you're ready for a 2nd home you simply refinance the one you're in as conventional and use FHA again and make sure you tell the bank that the new home will be your primary home. ( make sure you do move out of the old one and into the new one, dont want you getting in trouble when they check)
Kyle thanks for share your time and knowledge to help us great content. Kyle can you tell me what is the title of the video where you explain how find out your local market interest?.
Hi brother , thank you for your videos My credit score is 741 in credit carma and I have just 1 year history so with 60k + incom yearly and 0 debt and 20 percent down payment do you think I have a chance to get qualify for mortgage? The reason I’m asking is because my employment history is just 18 mounths and it’s not tomuch .
Hi, im in the process of a conventional loan, and the buyer is selling as is, only issue we see if that there was a small leak in the ceiling 3yrs prior and the roof was checked by the owner but they couldn’t find anything on the roof. Would this affect closing? Or could it stop the bank from approving the loan at closing?
It depends on the property you're buying. You'll want to get a quote to get accurate closing costs. My team is happy and to, feel free to email me kyle@winthehouseyoulove.com
Filling out applications today for a home. We have 3 to apply for. Could you tell me if these are good choices to use? MSU FEDERAL CREDIT UNION, PNC Bank and Hall financial group. We are located in Michigan
I’ve been seeing a lot of commercials recently about Divvy. Have you heard of it and would you recommend using them? And could you possibly do a review of them?
In today market, you need 680+ FICO score, 5% down for a conventional Jumbo loan, 8k-14k closing cost, play the game of waving inspection and fixing fee, 60 day free rent for seller (stipulation), 40k to bid above asking or if your lucky your appraisal match the bid price (or get you loan void by your real estate or loan officer). House that cost 700k with a credit score of 690 and combine income of 150k annual and the above information will cost you $85k cash on hand (at closing) and you will be paying $3800 a month on mortgage. This formula should able you go get a house. If your lucky you might get away with cash at closing to the amount of $45k, if it appraise for what you bid it at. It was not my dream home but it have everything we need, a little of a fixer upper cause it was 17 year old house. Most importantly is the kids school, work, and neighborhood location. BTW if you have 2 person on your loan they use the lowest person credit score...
Thanks for the info. I found a lot of new information so I'm pleaseantly surprised. Besides, you are super good looking.. 🤭😏 couldn't find the for "find the house you love", though.
Do you know of lenders who do “Land in Lieu”? I bought a rural property & put down 25% planning on building but due to the volatile housing market & economy issues we were awaiting to see if things would be getting better…..so I’m trying to figure out what lenders will use the equity in my land as a down payment; although we know we’ll have to come up with closing costs…..any suggestions?
If I pre-qual for 520K and my sister gets pre-qual for 350K can we combine the amount to purchase a home together for 870K? or can more than 2 peoples pre-qual amounts be combined on a residential home or a 4 plex?
Appraisals warranting repairs before closing can happen (for example mechanical system as mentioned on your list) does the seller pay for the repair? If they refuse do you get any deposit back?
This can be negotiated, but often is the seller. If they refuse, it would fall under the appraisal contingency of the contract - your contract will specify what will happen to the deposit in that instance
Hi Kyle, thanks so much for your videos, it's been a great help for me. Q, if I'm the only one on the loan, and I and my wife are on the title doc, plus I'll want my wife to be a FTHB in future, is it feasible with her being on the current title or not on the title?
A FTHB is “someone who has NOT held title to a property within the past 3 years” So you likely wouldn’t want to include her on the title if you wanted her to be a FTHB
How big of a deal is the "mechanical system where it is apparent it has exceeded its expected life" appraisal issue? The A/C on the house I'm under contract for is over 20 years old and my inspector said "The air conditioner is beyond its expected useful life". It was tested and still appears to work but now I'm worried what the appraisal will think of it.
It's possible it will need to be replaced if the appraisal calls it out. Your agent will need to step in and help you negotiate that being fixed. Either at the sellers expense, yours, or a combination of the two.
@@WinTheHouseYouLove Thanks for the response. Obviously I don't want problems with the appraisal but I wouldn't be upset actually if the seller had to pay to replace the A/C. She knows that it is old since she has only lived in the house for a year.
This is a non issue for the lender. It works, no safety or health issues. Weird an appraiser would state that as the are a licensed home inspector. Most likely talked to the home owner. All it really means is to expect to pay 9 to 15 k soon. Won’t effect the loan.
@@drewcoleman738 The lender may not care but I think Win The House You Love is suggesting that the appraiser could take the old A/C into account when figuring out the value. If the appraisal comes in lower than expected it could affect the loan.
Nothing like having Exceptional credit but not enough income to compete in this highly inflated real estate market. Forced to keep renting in order to save more money. Very frustrating.
I am right there with you. The struggle is so real.
Same.
Even in Rural areas, it feels like the goal post keeps moving. We started really saving 4 years ago, when we moved to a better apartment, and the budget we have now would have gotten us a 'forever home'... 4 years ago. And I can't justify maxing out our loan for a place that would need serious renovations to be a comfortable place to live.
I’m right there with you. I have a 790. No debt. Paying $1500/mo for my apartment. Never late. Same apartment for 7 years. But I’m low income so nobody will loan to me.
I’m with you man! I have a family and seems like we’re bursting out of where we live. We’re ready to buy - but this market is insane.
Who needs college when you can just delve into the world of UA-cam University ! Lol I’m so grateful to have this kind of information readily available at the click of a button. Thank you for what you do
The separation of topics via chapters in the description is wonderful. You’re the best in the game for this kind of information !
Haha absolutely, UA-cam has been incredibly helpful for me too! I'm really happy you like this style!
@@blicce9597 nmn.m......m.
.
..
.
M....mmm.mmmmmmmmmmmmmmmmmm?mmmmmmmmmmm
M
.m.
M
Mm
False because not all youtube info is credible. Be sure to do your own research. And some professions require a college degree. Also if you want a credible free degree, there are free legitimate online colleges or go to your local library.
This was a Home-buying Masterclass on it's own. Thanks for being the Miles Beckler of Home-Buying Kyle!
Wow! Thank you so much!
Also good tip to research if you can get 1st time home buyer grants that cover the 3% down payment and/or closing costs.
You crammed a TON of information in under an hour! I always look for new uploads from your channel. Never mind that I've already Won the House I Love! Your content made the process much less daunting and mystifying.Thank you! THANK you! THANK YOU!
Great to hear! Thank you for the support. :)
I'm in southern California and now that you've broken it down its frustrating that there's a stigma around less than 20% down. Depending on the market the total amount you'd pay in insurance even at highest rate is way less than the upfront cash of 15 or 17% of total home cost for the down payment.
AND you can remove insurance after paying enough equity!
Buying a home is challenging but seems way more affordable now. Thank you for walking through these requirements and making this information available to everyone. It makes the whole prospect seem much more realistic/doable.
Low score or not there are places that can repair your bad reports and approve youforloans, you just got to have the right info thats all. Knowledge is key
@schukerD CREDIT ----- MIRAGE.
I thank you for always dropping knowledge and when I do buy my first home next year it will be a part of this community! Much success to all!
Awesome! Thank you!
Hi Kyle new subscriber I have been watching all of your videos learning the process for buying a house and I learned so much for when I'm ready you explain everything so well .I have been waiting for this video so thanks great work .
This video is great timing! New sub too
Thank goodness for the news on travel nurses… went from making 90k as a staff nurse to over 190k as a travel nurse and got denied because I was a travel nurse. I was told that I did not have steady income or too unreliable to determine long term…
Hi! Let's hope things will be better soon. Thanks for watching. :)
Where did he talk about travel nurses?! I must have missed it
@@jaydajune bout 6:00
Best explanation and tutorial I've ever seen.
Real facts
Real logic
Real strategy
* Subscribed, Bell's, &thankful.
Thank you so much for watching!! :)
2 year credit history is best but do I still have a chance to get the loan with under 2 year credit history?
Helping me as a young loan officer, I appreciate all the knowledge and will remember this!!!
Wow! Good luck with your career. Thanks for watching. :)
I'm a newer loan officer and this was a great learning tool! thank you so much.
Great to hear!
Listening to all of this is definitely helpful and I'm starting to think that I'm definitely not ready to become a first time home buyer. Continuing to rent might still be my best option. Great video and channel. 👍👍
Glad it was helpful!
Dude, I haven’t started my investment journey yet, but I look for your wisdom *religiously* THANK YOU
Knowledge is an investment you’re on your way trust me . Keep learning.
@@maxromero11 thanks mate
Great information! This was a very thorough video. Plus your voice is so pleasant.
Wow, thank you!
Thank you for everything and formation
I have Quetion brother I am live in California this program can buy another state?
Yes, you can. Thanks for watching. :)
I am a new loan officer & this dude is helping me a lot about the industry, products and to help my clients better & to be confident when explaining to clients.
Have you ever done a deep dive on manual underwriting? I would love to get more info on that! You do great work👍
Thanks a lot man, you just gave thousands of dollars worth of university classes
Thanks for all you do!!👏
Awesome! Thanks for watching!
This is the best information I have ever seen And delivered with perfection!
Wow, thank you!
Hey man! Found the channel recently and I love your content! Very informative and your voice over is edited extremely well! It sounds great!
I was curious, though, if you'd be interested in making a video about down payment assistance? The pros and cons, usage, different types, and whether or not you'd recommend them! Either way man great job on the videos!
Wow! I'd be adding that to my to-do list. You can also check this video, this might be an option. Here's the link: ua-cam.com/video/zcI7gdPPtXI/v-deo.html Thanks for watching. :)
@@WinTheHouseYouLove hey v man I appreciate that! I'll be sure to check it out!!
I'm trying to househack my way into a first multifamily, so your channel has been invaluable to me. Keep up the good work and I look forward to your future videos :)
I love your channel , you taught me so much that I wasn't aware of . I'm still waiting to find a house the supply and demand is insane but the interest rates right now is crazy to think it was around 2.5% to 3. percent
It's tough!!
Do you have a video in different ways to possibly finance land and build a house in that land? Is it possible at all or for lower credit scores and can it be done through the VA program?
Appreciate the step by step guide of the home buying process. My wife and I have some spare money and income but don't want to get taken for a ride, it's good to have this knowledge.
Glad it was helpful! Thanks for watching. :)
You shared a lot information regarding purchasing existing homes, what about if you were to seek a loan to build a new home, can you still apply for the loans you are talking about?
You're voice is so relaxing 🤗
Glad you think so! Thanks for watching. :)
Can someone guide me and tell me what’s the best type of loan I should look into for as a first time investor home owner but for a multi family home?
Can I say!!..I ❤️ your voice!! It’s so soothing so needed during all this crazy & depressing 🏠 stuff! Thank you for all u do on ur channel & sharing ur amazing voice with the world!!.😊..I’m still in the ATL 🏠 market it’s been horrible but I’m still trying!!..
Wow, thank you! Best of luck!
Faith, so am I! It’s so expensive and I don’t have to time to drive for dollars due to my job. I started networking via meetups. Looking for partners!
@@kristinstaggers7009 Hi!!..can I ask how that’s been going ??..
Thank you so much ! Very thorough, well thought out, and great deliverance. Your tonality on point too. I was just saying that most of the videos I’ve been scouring through were monotonous and my attention span just couldn’t stay attuned 😅 however I found your channel by luck and now subscribed.
Thanks! Wonderful! welcome to my channel, I hope you'll learn something here. :)
Hey! Thanks for the advise and the creepily specific examples your giving. I'm looking around the northern Cincinnati area and can literally see the plot im interested in on your map @ 10:53 ish haha. I've watched about 5 of your videos now. Thanks for all the data driven information my good man!
You are in OH, nice! Thanks for watching. :)
Dude I love your content keep posting !
Thank you!
You literally explained everything! Thank-you so much
Just for all of you! Thanks for watching.
Thanks for the great video! Did you discuss non medical collections? Is it different between Fannie and freddie? Thanks!
Just to confirm @8:30 you are saying multifamily properties require 25% down?
I am asking this because I’m looking for another duplex in the chicago land area, and I cannot find anything that passes FHA.
Yep! Here's the chart: singlefamily.fanniemae.com/media/20786/display
I have question as a first time home buyer. Can I buy rental property with 20 percent down? I am.looki g properties in different state but not plan to move there. Or i have to buy primary residence as first home?
Hi thanks for all your amazing videos, I've learned so much!
I wanted to know please, if a person is homeless but has worked in the same place for years- can they qualify for FHA and Home Assistance?
We’re coming up on a year for this video can we please have an update, thank you.
Amazing info! As a first time home buyer can I buy a mix unit (2,3 apartments and a bussiness on first) or I can only use a multifamily or single only? Or how can I aquire a mix unit. Am from Brooklyn NY. Thanks😊
Probably a weird question in todays market but what would happen you are buying at 2/3 appraisal value of a home? I.e. would I still need to have at least a 3.5% down payment or would that be able to be waived since the loan is significantly lower than the appraised value of the home? And if it does still require a down payment would PMI likely be able to be waived with that much equity?
My husband and I had to put down 20% to get a conventional loan on a second home and we were told that by multiple lenders. We both have 770+ credit score, $250k/ annual income and no debt apart from the mortgage on our primary residence.
Wow! Thanks for sharing this.
Plus we had to show that we had at least 6 months of mortgage payments. Thankfully we have all that but...Still. We live in California so I don't know if that's just here.
If you want to purchase a fixer upper home as your primary residence what type of loan would you need? I would be very interested in a video like this.
FHA 203b loan or HUD 203k loan
I loooove how you break things down! Thank you. Q: what should I do before I get a loan as in lawyer or financial advisor ? Can you do an example of a cheap fixer upper home like $125,000? I'm very intrested in learning more.
Is it just 401k for closing cost or i can use from roth ira?
Love this video you have answered so many of my questions #first time home buyer I can do this no more procrastinating I feel more at ease thank you so much you were so easy to understand and not feel afraid 😊
Best of luck!
You are the best UA-cam teacher ever! I also love voice haha!!!
Wow, thank you!
Dear Kyle
Does a medical bill affect your credit in Texas currently or medical bills are disregarded by a recent law?
if federal student loans are delinquent (currently working out a plan), are you able to get a fannie or freddie commercial loan (non owner occupied)?
obtain business credit and leverage the new interest rate to pay off personal debt so your new DTI is way less!!
Thank u for sharing I never saw anyone on youtube did this type of video your content is amazing.
This is my way of helping people who are having difficulties getting a house. Thanks for watching. :)
Wowww!! 😍🤩🤩This is the BEST educational video out there regarding home buying nitty gritties. Thank you so much for the wealth of information. You answered a lot of questions I have always had! Love the work you do. And your voice is so soothing, I enjoy listening to you when I can’t sleep. 😇😁😁
Glad you liked it!! Thank you, this means a lot. :)
Question: If you're a first time home buyer looking to purchase an investment property, can you still put 3% down or does that still have to be 15%+ because it's an investment?
How long should someone own a "starter home" before selling it to move to a bigger house? We are renting and I want a modest 3 bd 2 bath house, but that is quickly becoming a pipe dream on our budget. We don't want to live in a 'fixer upper' either.
That’s nice having you gotten any yet??
DOES THE PMI ADDTO THE INTEREST PER MONTH
So much valuable content, concise and easy to understand. Thank you.
Glad it was helpful!
Thank you for breaking this down. Question: Can you pay your mortgage, and also attack the principle at the same time? Let's say mortgage is 1200. But i make a second payment of 500 to attack the principle. Would that be beneficial? Would that even be allowed?
Hey love the link for FHFA Conforming Loan Limit Map isn't working.
Thanks just updated it
You saw that too..hey you good??
I did this and this really help husband and i to get our home before all this crazy inflation. With the housing inflation this helped us to get our house appraised to get rid of the pmi.
Awesome, I'm so glad to hear!
If you refinance an FHA to a conventional do you need a down payment?
If there are two people on the loan and only one is below the steam medium income 80% would that qualify? Or do both people need to be under?
Is it possible to get fully financed conventional loan or down payment assistance/ grants with conventional loan? I have medium credit score 802, but need assistance for down payment and closing. 22+ years on the job, longest credit account 20 yrs, $55,393.89 annually. 2 Student loans $16000 paying $128.68 a mo for both.$500 credit card that will be paid off soon, no other debt. Any advise?
Brilliant video demystifying the home buying loan process! Thanks
Case - I am moving to USA as intra company transfer. Have above 800 credit score in home country.
Question - Will I be able to get conventional loan in first few months OR have to wait for one or two year to prove credit score and employment in USA?
I know disposition complaince may i join
Connecticut is not part of the high balance areas but my lender asks that I still pay 5% instead of 3% down🤔. Im a first-time home buyer with great credit!
Hi can I get second home with fha
We’re reserve savings mentioned?
See what I don’t understand is how my credit is on the right place, but all the lenders I’ve contacts don’t offer three percent for conventional
I’ve been watching your videos for a while and it’s all been great information but I am looking to utilize my VA home loan, are you going to be making a current video about VA loans anytime soon?
From my experience, VA loans are looked down upon...not sure how this is a benefit. I'm at the point where I need to decide if I'm priced out or keep trying. Wish you well
@@davidtrejo7509 yeah I’ve noticed the same, trust me I’m looking at all options and preparing for multiple outcomes! Thank you
My husband bought a mobile home under his name only and I’ve never purchased a home before. Will we only need 3% down as I am a FTHB? We are trying to save well over that amount, but just clarifying. Your videos are incredibly helpful and I’ve been happy to share them with friends/family that are also looking to purchase.
If you haven't been on the title to a home in the past 3 years you are a FTHB :)
Thank you for watching and sharing!!
are you able to get DPA with a conventional loan can you speak on this
Yes
Hey there would you talk about HIP and Home Possible & HomeReady please
Hi! You can check 9:55 HomeReady and Home Possible in this video. Thank you! :)
This video is awesome!!!! Thanks for the links too!!!!
Glad you like them! Thanks for watching. :)
Hello, who decides which company to use for the PMI?
The lender does
Man you are so clutch. I have a question.
I’m a first time home buyer and I’m looking to purchase a 4-unit. I just want to make sure would that be consider an investment property (which would require 15% down) or I could still put 3% down?
Thanks again🙏🏾
Thanks for watching! The chart below can help out. If you're going to live in 1 unit and rent the other 3, you would need to put 25% down:
singlefamily.fanniemae.com/media/20786/display
If you're going to live in that home , make sure you tell the bank ( broker ) that its going to be your primary home and you're good to go. When you're ready for a 2nd home you simply refinance the one you're in as conventional and use FHA again and make sure you tell the bank that the new home will be your primary home. ( make sure you do move out of the old one and into the new one, dont want you getting in trouble when they check)
@@WinTheHouseYouLove thank you 🙏🏾
@@ewlinitis thank you 🙏🏾
How long do you have to wait to purchase a second home with FHA?
Kyle thanks for share your time and knowledge to help us great content.
Kyle can you tell me what is the title of the video where you explain how find out your local market interest?.
I'm not sure about local market interest, but is this the one you are asking about: ua-cam.com/video/JpIBl7XfMs4/v-deo.html ?
Hi brother , thank you for your videos
My credit score is 741 in credit carma and I have just 1 year history so with 60k + incom yearly and 0 debt and 20 percent down payment do you think I have a chance to get qualify for mortgage?
The reason I’m asking is because my employment history is just 18 mounths and it’s not tomuch .
You are good
Hi, im in the process of a conventional loan, and the buyer is selling as is, only issue we see if that there was a small leak in the ceiling 3yrs prior and the roof was checked by the owner but they couldn’t find anything on the roof. Would this affect closing? Or could it stop the bank from approving the loan at closing?
Likely not
Ok. All I see I need to save $10 thousands for both 3% and closing costs right. Am I good right?
It depends on the property you're buying. You'll want to get a quote to get accurate closing costs.
My team is happy and to, feel free to email me kyle@winthehouseyoulove.com
Filling out applications today for a home. We have 3 to apply for. Could you tell me if these are good choices to use? MSU FEDERAL CREDIT UNION, PNC Bank and Hall financial group. We are located in Michigan
I’ve been seeing a lot of commercials recently about Divvy. Have you heard of it and would you recommend using them? And could you possibly do a review of them?
What's the best option for buying an investment property in 2022?
Can you make a video on ARM and how it works! Thank you
Yes! I’m planning on that soon :)
I will like help, do you have that option?
In today market, you need 680+ FICO score, 5% down for a conventional Jumbo loan, 8k-14k closing cost, play the game of waving inspection and fixing fee, 60 day free rent for seller (stipulation), 40k to bid above asking or if your lucky your appraisal match the bid price (or get you loan void by your real estate or loan officer).
House that cost 700k with a credit score of 690 and combine income of 150k annual and the above information will cost you $85k cash on hand (at closing) and you will be paying $3800 a month on mortgage. This formula should able you go get a house. If your lucky you might get away with cash at closing to the amount of $45k, if it appraise for what you bid it at.
It was not my dream home but it have everything we need, a little of a fixer upper cause it was 17 year old house. Most importantly is the kids school, work, and neighborhood location. BTW if you have 2 person on your loan they use the lowest person credit score...
Great job Kyle!
Thanks for watching. :)
I wonder if you can get a Duplex and what would be the percent down you would need
He mentioned that earlier I believe it was 15%
@@wuzzleone thank you
Thanks for the info. I found a lot of new information so I'm pleaseantly surprised. Besides, you are super good looking.. 🤭😏 couldn't find the for "find the house you love", though.
Thanks for watching and for the complement! I’m a little confused by what you mean by “find the house you love” haha. Could you clarify?
What if you’re not a first time buyer what’s the lowest percentage of town do you need to come with??? Please advise
5%
Do you know of lenders who do “Land in Lieu”? I bought a rural property & put down 25% planning on building but due to the volatile housing market & economy issues we were awaiting to see if things would be getting better…..so I’m trying to figure out what lenders will use the equity in my land as a down payment; although we know we’ll have to come up with closing costs…..any suggestions?
25 % it's too much. I put mine 3%. They are building me the house with 4 bedrooms. I will be heading to move in Tomorrow
Do you still need suggestions??
@@lawrencerogers8552 No thank you anyway
@@sherih8879 it’s a pleasure to meet you where’re you from??
If I pre-qual for 520K and my sister gets pre-qual for 350K can we combine the amount to purchase a home together for 870K? or can more than 2 peoples pre-qual amounts be combined on a residential home or a 4 plex?
Appraisals warranting repairs before closing can happen (for example mechanical system as mentioned on your list) does the seller pay for the repair? If they refuse do you get any deposit back?
This can be negotiated, but often is the seller. If they refuse, it would fall under the appraisal contingency of the contract - your contract will specify what will happen to the deposit in that instance
Are you licensed in NY?
So much helpful information here! Thank you so much for sharing.
Glad it was helpful!
What type a loan a person can get if they built up a almost 800 credit score?
Elon Musk? 🤣
Dayton home prices are looking mighty tempting … 👀
Welcome to Dayton! :)
What is the best loan for inconsistent work history but excellent credit (780+) and a 20% down payment?
Hey Cheryl are you a relative or do you know one I can work with??
Hi Kyle, thanks so much for your videos, it's been a great help for me. Q, if I'm the only one on the loan, and I and my wife are on the title doc, plus I'll want my wife to be a FTHB in future, is it feasible with her being on the current title or not on the title?
A FTHB is “someone who has NOT held title to a property within the past 3 years”
So you likely wouldn’t want to include her on the title if you wanted her to be a FTHB
What about employment gaps due to Covid?
Ohio has some high property taxes! In a lower cost state the mortgage payments would be 500-700 dollars a month lower on that 400k home.
For sure!
Can you make a new one on USDA
He already did
How big of a deal is the "mechanical system where it is apparent it has exceeded its expected life" appraisal issue? The A/C on the house I'm under contract for is over 20 years old and my inspector said "The air conditioner is beyond its expected useful life". It was tested and still appears to work but now I'm worried what the appraisal will think of it.
It's possible it will need to be replaced if the appraisal calls it out. Your agent will need to step in and help you negotiate that being fixed. Either at the sellers expense, yours, or a combination of the two.
@@WinTheHouseYouLove Thanks for the response. Obviously I don't want problems with the appraisal but I wouldn't be upset actually if the seller had to pay to replace the A/C. She knows that it is old since she has only lived in the house for a year.
This is a non issue for the lender. It works, no safety or health issues. Weird an appraiser would state that as the are a licensed home inspector. Most likely talked to the home owner. All it really means is to expect to pay 9 to 15 k soon. Won’t effect the loan.
@@drewcoleman738 The lender may not care but I think Win The House You Love is suggesting that the appraiser could take the old A/C into account when figuring out the value. If the appraisal comes in lower than expected it could affect the loan.