3 Ways to get a 4% Mortgage Rate Today (2024)

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3 Ways to get a 4% Mortgage Rate Today (2024)

Рет қаралды 43,780

Күн бұрын

Are you a high-paid W2 employee, working 9 to 5, uninspired, and looking for financial freedom?
On this channel, we only focus on THE MOST IMPACTFUL concepts that significantly move the needle toward financial freedom:
-- Description of the video -------------
There are still ways to get lower interest rates even in the high-interest rate environment that we face today.
I just want to share a few options that could help you buy a property with lower rates, which could be a huge game-changer!
00:00 Why Are Interest Rates Important
00:57 Option 1: Rate Buydown
03:56 Option 2: Seller Financing
08:00 Option 3: Subject 2
11:06 Schedule a 1-1 Call!
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-- DISCLAIMERS & DISCLOSURES ----------
This content is for educational and entertainment purposes only. Michael does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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Пікірлер: 108

@ryanwilliams989 7 ай бұрын

Sadly, banks continue to stumble, mortgage rates is on the rise with higher imports and lower exports, yet the FED is to lessen cost. So, where do we grow and safeguard our money now? something will eventually break if they keep raising interests and quantitative tightening.

@maggysterling33254 7 ай бұрын

ideally, you should consider financial planning to get the best results with your money, notwithstanding economy situation

@maryHenokNft 7 ай бұрын

Well agreed, I'm quite lucky exposed to finance at early age, started job at 19, purchased first home at 28, got married shortly afterwards to raise kids early. Going forward, got laid-off at 40 amid covid '19 outbreak, immediately consulted with an advisor in order to stay afloat and after subsequent investments, I'm barely 25% short of $1m ballpark goal as of today.

@SherlyDavis-ek4qz 7 ай бұрын

@@maryHenokNft this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

@maryHenokNft 7 ай бұрын

I've shuffled through a few advisors in the past, but settled with *Camille Alicia Garcia* her service is exemplary and she's a genius in portfolio diversification. I'd suggest you research her further on your browser, sure you'll find her basic info.

@StellaMaris-lv2uq 7 ай бұрын

Appreciate this recommendation, hopefully I can get some insight to where the economy is headed and strategies to beat inflation with when I hear back from Camille .

@Brandon96712 8 ай бұрын

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@Parzen753 8 ай бұрын

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

@LagerthaJackson 8 ай бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@TorresJuanJose 8 ай бұрын

@@LagerthaJackson I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

@InvestLikeMike_ 8 ай бұрын

I just closed on a property with a 2.75% interest rate and 70k of seller financing at 0% for 30 years. There are still good deals out there

@LagerthaJackson 8 ай бұрын

There are advisors in cities around you but I needed services of one who can guide me irrespective of location. Catherine Morrison Evans comes highly recommended especially in times like this. I am hedging and haven't lost much to the recession. I found her in 2020 when the market was at an all time low. Look her up and thank me later.

@zack6012 10 ай бұрын

In summary 1. find someone rich enough to move out of their house and issue it to you in the form of a loan at a convenient rate for you. 2. find someone poor enough who's going to foreclose on a house and assume their loan for them. Mainly, if you don't want to get the average rate don't go through a bank.

@InvestLikeMike_ 10 ай бұрын

1. Find someone who owns real estate free and clear (retirees) who don’t want to hold the real estate anymore and would rather collect interest payments from the buyer for the remainder of their lives. 2. Find someone who has low equity and can no longer make payments on their property (Pre foreclosure) and offer them an alternative where they don’t get foreclosed on. Yup!

@hirakhatri7275 9 ай бұрын

great advice brother but will seller's bank allow to transfer the same interest rate without any extra charges ? why would they do that ? can you clarify @@InvestLikeMike_

@neilaleksandrov2655 3 ай бұрын

I see a lot of fools lining upfor this amazing deal. Loans never fail, thats why banks give loans to anyone.

@InvestLikeMike_ Жыл бұрын

🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻 If you want to connect with me, schedule a call! ☎ 1:1 Call with Me: calendly.com/investlikemike 🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺

@threatlevel_TACO Жыл бұрын

Im using a VA loan. Zero down in TX. My mortgage quote for a 349k property was $3300/mo at 7.25%. I pulled out in the option period. Its ridiculous.

@InvestLikeMike_ Жыл бұрын

Yup - completely different market compared to two years ago. Gotta watch out for those property taxes in Texas too. Interest rates just came up within the past few weeks too.

@Kay-eq3ug 3 ай бұрын

Same only in Georgia with veterans united!

@michaelanthonygutierrez 11 ай бұрын

Thanks for explaining this 🎉

@InvestLikeMike_ 8 ай бұрын

Also - JUST CLOSED on a property with a 2.75% interest rate AND $70k if seller financing at 0% interest for 30 years! I’m telling you guys - subject to is amazing!

@tiffanyonwudinanti Жыл бұрын

Great video Mike! I see the growth you've been having on YT! Let's go 💪! I have to ask to: what's your camera setup?

@InvestLikeMike_ Жыл бұрын

Thanks Tiffany! I have a Sony a6400, Sigma 16mm lens, and a $150 soft box. The most important thing isn’t necessarily the camera - it’s the lighting!

@silvera9300 Жыл бұрын

How/where do you find Subject 2 properties? I'm guessing there is not much of these in a hot market like bay area?

@InvestLikeMike_ Жыл бұрын

Yeah you need to find distressed properties. You should join Pace morbys fb group - there are people who post deals in the group and you can see what type of deals are being done ✔️

@kuldeepsahota6910 6 ай бұрын

How do you find these SUBJECT TO properties ?

@InvestLikeMike_ 6 ай бұрын

I have videos on my channel about it! Go watch them and comment if you have any questions

@yafaheem Жыл бұрын

awesome to see how you're channel has grown. Thanks for all the advice. Are you still working with Asish Acharya as your tax person? Thanks!

@InvestLikeMike_ Жыл бұрын

Hey - thanks for watching the content! Hopefully it’s been eye opening. Yes I still work with him - he’s awesome!

@joeyjojojunior1794 4 ай бұрын

I believe the interest rate in the late 70s and early 80s was 10-14%. JC.

@HEC892 Жыл бұрын

There is an assumable loan in my area for 2.75% but the house is old and would need a complete remodel , I don’t think it’s worth it if I have to take out 100k to pay them off and also remodel home…thoughts ? They purchased home in 2021 for 275k va loan , they want 320k for it so not much equity imo

@InvestLikeMike_ Жыл бұрын

Wouldn’t you be building equity by renovating it? Problem with that is that you can’t refinance after renovating - cause then you’re replacing the 2.75% loan with a 7%. You could do a heloc though. If the monthly payment makes sense - it could be a good deal. Schedule a call for more insight!

@panhiavue4869 Ай бұрын

yes very helpful

@user-wp3pc9ky4l Ай бұрын

Great content

@wfjohnny 20 күн бұрын

How do you get seller financing to work tho

@InvestLikeMike_ 18 күн бұрын

What do you mean? You basically have an IOU with the seller and you pay them on a monthly basis

@Mikeybdarealest 11 ай бұрын

Closed in June with a 3.25 interest rate due to seller financing

@InvestLikeMike_ 11 ай бұрын

Awesome - where is it and what type of property?

@charlesrowley1657 11 ай бұрын

I learned this in Pre-K

@InvestLikeMike_ 11 ай бұрын

Nice!

@Lee.Timothy Жыл бұрын

That's a pretty good idea

@InvestLikeMike_ Жыл бұрын

Lol it could be a huge game changer

@JR-eq6jz 5 ай бұрын

Only an idiot would loan their house at 4% when they could earn 5.4% risk free in bonds. That would be pretty funny to find a seller this desperate to unload a house.

@InvestLikeMike_ 5 ай бұрын

Funny you say that - I bought a home where the seller financed $80k to me for 0% interest for 30 years with no balloon!

@joeyjojojunior1794 4 ай бұрын

@@InvestLikeMike_We all hope to find an idiot or relative that does that for us.

@gerry427 14 күн бұрын

On seller finance - Everyone wants their money today so good luck with that ! This likely isnt happening in the "working class" world.

@loisscudero1674 3 ай бұрын

Paying additional points is paying prepaid interest upfront

@oahuguppyguy5797 3 ай бұрын

Can I ask a question if you have the money to pay 10 grand over the interest rate why not just use the money yourself to buy the point down

@InvestLikeMike_ 3 ай бұрын

What do you mean “pay 10 grand over the interest rate”?

@InvestLikeMike_ 3 ай бұрын

Buying down the points generally isn’t worth it unless you expect rates to stay high for the foreseeable future. In our current market, most people expect rates to come down within a year - so it wouldn’t necessarily make sense to buy points right now considering that the rates might be lower in a year from now anyways.

@neilaleksandrov2655 3 ай бұрын

The reason most loans come from banks is that banks take on a big enough number of loans to safeguard themselves from failed loans. With the option youre presenting your are asking an individual to assume the risk of non repayment fron another individual. Those are NOT good odds

@joeyjojojunior1794 4 ай бұрын

10:30 isn't another Factor how much has already been paid on the mortgage? Like if the seller already paid 10k or 30k on the 500K mortgage?

@InvestLikeMike_ 4 ай бұрын

Yup I made a more in depth video on subject to if you’re interested

@prezzlola 16 күн бұрын

I've heard you can offer the seller a lump sum as an incentive so they don't walk away fully empty handed. "You can say I'll give you the 10k you've paid and I'll take over the loan." Hopefully you'll recover that money when the house appreciates.

@jcyoseo8934 Ай бұрын

내년에 집 사고 싶은데 공부 할수 있게 해줘서 감사합니다~

@erikmartinez8867 7 ай бұрын

Why not use the 10k to buy your own points

@InvestLikeMike_ 7 ай бұрын

What do you mean

@jaychung8310 Жыл бұрын

Damn I thought bro was clickbaiting

@InvestLikeMike_ Жыл бұрын

😂😂

@cameraGHOST Жыл бұрын

Can we take a loan out of our 401k to buy a property and will that rate be around 4%?

@InvestLikeMike_ Жыл бұрын

You could do that but remember you have a 10% penalty and a taxable event. In my opinion, pulling money out of a 401k is the last resort of you have no cash and no equity. I’m certain situations it can be a great move - especially with bonus depreciation at 80% this year. Schedule a call to learn more!

@ButcherBird-FW190D 9 ай бұрын

Also bear in mind that 401k plans limit loans to no more than $50,000. Basically, the IRS sent out an interpretive letter in the early-1990's stating that any loan in excess of $50k would likely be considered to be a withdrawal. Hence, all plans set $50k as a cap.

@chrisheaney318 11 ай бұрын

All of those are options but as rare as unicorns or aren’t as attractive in actual transactions.

@InvestLikeMike_ 11 ай бұрын

They are increasingly more common than you think. There is a duplex in Dallas that I am talking to that will offer a 2-1 buy down right now.

@ako849 5 ай бұрын

We’re are you Australian talking about

@treeguyable 7 ай бұрын

Bought my first house at 13% . Then , later, bought 2 more houses. Not a big deal.

@DoctorDaniB 2 ай бұрын

The question is at what price?

@treeguyable 2 ай бұрын

@@DoctorDaniB 35,000 for the first, and the next 2 , can't remember exactly, like 75,000 and 90,000 maybe.

@DoctorDaniB 2 ай бұрын

@@treeguyable Nice! But just as I suspected. I don’t think any of us would mind 7% to 13% on homes under $100k. Unfortunately where I reside the crappiest homes start at 350k. 7% on 350k upwards coupled with property taxes, mortgage insurance, homeowner’s insurance, HOAs, etc makes monthly housing payment impossible for most.

@treeguyable 2 ай бұрын

@@DoctorDaniB Yea, wasn't a big deal then... but now.....

@treeguyable 2 ай бұрын

@@DoctorDaniB Glad I bought my 3 when I did. I couldn't do it now.

@lazarogonzalez4537 17 күн бұрын

I make 80k a year I have $40k in savings but I just can’t convince myself to buy a house due to rates being so high just stress full

@InvestLikeMike_ 15 күн бұрын

Yeah idk man - 40k can’t really get you much right now unless you live in the Midwest. consider house hacking?

@lazarogonzalez4537 14 күн бұрын

@@InvestLikeMike_ I have 40k for down payment looking to do first time home buyer in ocala fl

@darinhenley317 Ай бұрын

These are not plausible

@Doogiehowsy 10 ай бұрын

Wait a minute, the buy down is only temporarily?!?!?!? Wtf buying home is sounds crazy right now

@InvestLikeMike_ 10 ай бұрын

I’m under construct right now for a property - buy down is actually for primary homes. I’m buying an investment

@Lumpia_In_Texas 11 ай бұрын

Lennar offering 4.2% with 10k closing cost assistance.

@InvestLikeMike_ 11 ай бұрын

Where?? Send me an email!

@Lumpia_In_Texas 11 ай бұрын

@@InvestLikeMike_ Texas

@Lumpia_In_Texas 11 ай бұрын

Also got 25k off the price

@InvestLikeMike_ 11 ай бұрын

I’ve actually been looking for new builds because of this. Where did you buy?

@Lumpia_In_Texas 11 ай бұрын

@@InvestLikeMike_ lennar balmoral houston

@itwaswritten804 8 күн бұрын

Says the current rate is sitting just over 7% immediately shows a figure of 7.753% which is clearly not just over 7% but more like about 8%…. What are you doing man it’s gotta be drugs… 😅

@CaptainHookhatesBooks 9 ай бұрын

These are like 0.00000001% chances of happening therefore 4% rate is impossible in 2023.

@InvestLikeMike_ 9 ай бұрын

Pace morby is buying like 300 homes a yea faith under 4% rates using subject to

@ButcherBird-FW190D 9 ай бұрын

@@InvestLikeMike_ How many is "like" 300 ?

@InvestLikeMike_ 9 ай бұрын

You can watch his KZfaq channel!

@ButcherBird-FW190D 9 ай бұрын

@@InvestLikeMike_ Oh, I'm fine. I took out a 10-year, fixed-rate loan in July 2021 at 1.875%. And that's without any discount points. Suffice it to say I'm a Happy Camper. I was just curious how many "like" 300 was.

@InvestLikeMike_ 9 ай бұрын

That’s the deal of a lifetime right there.

@mr.numbers6174 Күн бұрын

Adding money is not a trick,click bait..

@marekhullinger598 18 күн бұрын

Gotta love this bullshit. No chance someone takes your offer over a standard offer.

@InvestLikeMike_ 18 күн бұрын

Well we found plenty of deals like this since this video has been posted

@jacobschweitzer2954 6 ай бұрын

3-2-1 is a joke…This entire video is a joke. What seller in this market is offering to pay pts to a buyer. It’s absurd. Seller financing. Laughable.

@InvestLikeMike_ 6 ай бұрын

Funny you say that - I just closed on a property with a 2.75% interest rate AND the seller gave me 70k of seller financing for 0% interest for 30 years (no ballon). You’d be surprised at the type of deals like this

@jacobschweitzer2954 6 ай бұрын

Ok…

@jacobschweitzer2954 6 ай бұрын

@@InvestLikeMike_ following up. The seller actually just gave me their house!

@iamjustintarr 4 ай бұрын

It’s a good play for some sellers looking to avoid paying capital gains tax at the time of selling. Also the risk is low. Let’s see sell traditionally: $300,000 purchase price -6% commissions ($18k) - closing cost ($2k) - capital gains ($42k) Walk away with $238,000 and put in a 5.4% interest account after 5 Yrs that is worth $309,584 If he sells seller finance at 4% interest $300k purchase price He gets $60k down payment day 1 Interest on $240k for 5 years is $48k So if there is a balloon payment in 5 years that seller makes $348k And if the buyer defaults seller takes the house back and keeps all money collected Sounds like a good deal to me.

@Iamsampresley Ай бұрын

We are talking with one right now😅