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NEW 2023 FHA Loan Requirements - The Ultimate Guide For First Time Buyers

  Рет қаралды 742,608

Win The House You Love

Win The House You Love

Күн бұрын

Пікірлер: 929
@MzLaylah234
@MzLaylah234 Жыл бұрын
Kinda getting emotional right now. I don’t have a single person to teach me anything about home ownership/loans fees etc. I’ve learned so much and this is my second video I’m watching. Thank you! May God bless you ten fold 🎉
@carlaforth7707
@carlaforth7707 Жыл бұрын
I took a course through Ehome America for MI down payment assistance. It was $99. It taught me a lot and now I have help with my down payment.
@MzLaylah234
@MzLaylah234 Жыл бұрын
@@carlaforth7707 thank you for sharing! I’ll definitely look into it
@carlaforth7707
@carlaforth7707 Жыл бұрын
@@MzLaylah234you're welcome. I also just looked at the Empowered DPA mentioned in this video. It took me to a website with a link for all the state's DPA programs. It has taken me a couple years to get ready to buy, but worth the wait. Good luck with your search!
@joeyboedeker2047
@joeyboedeker2047 Жыл бұрын
Move out of the cities and build on some land. Hope you succeed in everything!))
@Frenetic321
@Frenetic321 Жыл бұрын
Good luck, Michelle!❤
@songbird2297
@songbird2297 Жыл бұрын
I'm at 740 score but we went FHA. I prefer their standards for a home appraisal. The FHA also had a lower interest rate and right now, that matters. We got seller to cover closing costs. We should be closing by the end of the month.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Congratulations! That's awesome!
@LouieTheFrenchie
@LouieTheFrenchie Жыл бұрын
Congratulations! God bless your new home 🏡 🙏🏻
@LoveThyGameTV
@LoveThyGameTV Жыл бұрын
In what state is this your in
@songbird2297
@songbird2297 Жыл бұрын
@@LoveThyGameTV California
@wudzkillus
@wudzkillus Жыл бұрын
Hi, congrats! im also in California. Whats your lender and how much interest you got? Thanks!
@lex6756
@lex6756 Жыл бұрын
Taking a loan is not a problem. Problem to pay it. 425000 house, you have to pay almost 3k in a month. plus feed your family. GL with it. In California 425000 is a chicken house in getto. At least you need 550000, then you have to pay 4k a month. To pay it you have to have a minimum 130k salary. It doesn't matter what loan are you taking if you can't eat solar energy. Overall very informative, thank you for the work!
@robbie_cu
@robbie_cu Жыл бұрын
130 combined income though right? Tbh that doesn’t seem that bad. Also, 4k a month for 550k home seems nice. In Texas that same house value would be well over 5k a month.
@Verzula
@Verzula Жыл бұрын
@@robbie_cu in Chicago that home value would be $750k-$850k
@traceylawrence7363
@traceylawrence7363 Жыл бұрын
@@robbie_cu combined is not existing if you are single.
@noblelies
@noblelies Жыл бұрын
Yup. Wait for this real estate bubble to burst.
@yourmomma4423
@yourmomma4423 Жыл бұрын
@@robbie_cu combined lol 80% of marriages end in divorce no one wants to be combined
@Leonardo-tj6up
@Leonardo-tj6up Жыл бұрын
Going through the homebuying process has been very stressful, and this man has explained everything more clearly than I could’ve ever imagined I feel a lot more comfortable and confident after watching his videos. Thank you so much for all your help. 😉
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you so much!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I think this is the best FHA video I've made! It's certainly long, but it covers a lot more than I've found in other videos. All the slides have clear titles so you can skip around to different sections if you'd like! Have questions about FHA (or other loans)? Email me at kyle@winthehouseyoulove.com Or, if you'd like to get the ball rolling on a loan quote and pre-approval, schedule a free loan consultation with my team: www.winthehouseyoulove.com/lender Additions from the comments: - If you increase the purchase price to ask for seller credits, the home has to appraisal at the higher value. If it doesn't, you risk not being able to get the credits. - You can use money from the sale of a home, marriage settlement, etc for your source of funds. As long as it can be documented. - You can buy a foreclosure, but it has to meet FHA appraisal guidelines. - FHA has a rule that says if you currently have an FHA loan and want a 2nd FHA loan if has to be 100 miles away. (www.hud.gov/sites/dfiles/SFH/documents/sfh_hb_4000_1_update_12_redline_06_29_22.pdf). Page 158 has the exceptions to the rule. - 90 day flip rule - Seller may be hesitant of FHA since repairs may be required - $100 down FHA
@chelseaendsley7852
@chelseaendsley7852 Жыл бұрын
Kyle, I just found your channel and this was so helpful, thank you! I'm preparing to buy for the first time and feeling nervous and not sure if I'm preparing properly? I appreciate your calmness and clarity! 💜😊
@Dmeguil85
@Dmeguil85 Жыл бұрын
Thanks for the free wealth of knowledge. Its very informative and greatly appreciate!
@JacquelynKay
@JacquelynKay Жыл бұрын
The most helpful video on FHA Loans. Thanks!
@excessnetwork4221
@excessnetwork4221 Жыл бұрын
I think so too , Well polished
@_valles3438
@_valles3438 Жыл бұрын
I'm glad you did though! I learned an individual can rent out property after 1 year on living in it (I was aware of only refinancing out of the FHA into Conventional after some time) and reinforced that DACA recipients are indeed eligible!!
@diceniamorose5009
@diceniamorose5009 Жыл бұрын
Today I cried. I am new Registered nurse (1.5years) I make $35 an hour. I have $20,000 for a deposit. 760 credit score and still I can’t own my own house. Here in Hollywood Fl only thing I can afford to move into is a trailer. I feel so bitter….
@alabamagirl2725
@alabamagirl2725 5 ай бұрын
Hang in there. I live in Florida too but we can get a home out of state. Thinking about moving back to Alabama. This state is almost impossible to buy a home anymore.
@ophelia2669
@ophelia2669 3 ай бұрын
Come to Georgia. I'll help you. I help a lot of buyers from out of state.
@Misstexas08
@Misstexas08 2 ай бұрын
Come to Texas
@judgeashley2347
@judgeashley2347 2 ай бұрын
@@alabamagirl2725 yea, my daughter went out there, so looking at bama too.
@toadamine
@toadamine Ай бұрын
You're entry level at 1.5 .years... you'll make a lot more in five or ten years (assuming you're a good worker a d get promoted/raises
@soulfulexpansions
@soulfulexpansions Жыл бұрын
I really like the sound of your voice. It's very soothing . U could talk about anything and ide enjoy listening to you talk lol. 😊
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Oh thank you! 😁
@dre5229
@dre5229 Жыл бұрын
I used the FHA loan to buy my home at 22 back in 2011. It was very helpful but the mortgage insurance was a pain. I get that they are worried about defaults but paying more makes it harder to pay it. I refinanced and got rid of it and lowered the interest rate before it was too late.
@Awaiting_YHWHs_Return
@Awaiting_YHWHs_Return Жыл бұрын
How long did you wait to reffinace?
@seiscincocero
@seiscincocero Жыл бұрын
How were you able to buy a home at 22 ? In what state if you Dnt mind me asking ? Any advice on new homeowner I’m 24 btw.
@user-up6ij6we8n
@user-up6ij6we8n Жыл бұрын
@@seiscincoceroI’m 19 and on the route to build a fourplex in CA I hope to qualify for the FHA I’m sure I will with 20% down … breeding French Bulldogs since 16 🙏 my dog business investment was worth every penny 👌
@humblemotions1917
@humblemotions1917 Жыл бұрын
I’m 24 looking for a home this year or next. Tired of giving apartments 20k a year. This video gave lots of info & you seem well knowledged on the subject. Subscribed.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for watching!!
@CleanLuxuryCosmetics
@CleanLuxuryCosmetics 10 ай бұрын
This video is pure gold. Absolutely everything I was looking for all in one video. Thank you!
@carynrg9771
@carynrg9771 11 ай бұрын
You really do have the heart of a teacher. I stumbled on your videos looking for something else, and I'm so glad I did. Good job! Thank you for the education.
@ZobeidaHanderhan
@ZobeidaHanderhan 10 ай бұрын
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
@schukerD 10 ай бұрын
@@ZobeidaHanderhan Oh really? Where? whats their name please thanks
@ZobeidaHanderhan
@ZobeidaHanderhan 10 ай бұрын
@@schukerD CREDIT ----- MIRAGE.
@schukerD
@schukerD 10 ай бұрын
@@ZobeidaHanderhan I think I heard of them before. Thanks I appreciate it
@chaimaeelhourani4754
@chaimaeelhourani4754 Жыл бұрын
As of 03/20/23, the monthly insurance premium will be reduced from 0.85% to 0.55% for loans with an effective case number on or after 03/20/23 only. The one-time upfront mortgage insurance premium of 1.75% will remain the same. Kyle, thank you so much for this very informative video about FHA that I might have repeated 50+ times, and every time I've learned something new.
@yelnatsch517
@yelnatsch517 Жыл бұрын
With all of these additional fees, why would anyone with good credit and enough down go with an FHA still?
@charlietroy4751
@charlietroy4751 Жыл бұрын
Thank you so much for making this video I grew up poor and no one in my family owns their own home. This made it way less intimidating.
@timgilreath3792
@timgilreath3792 Жыл бұрын
As a dedicated Listing agent that never represents buyers I can say that the biggest hurdle with an FHA loan is the increased scrutiny of the appraisal. The sellers deferred maintenance becomes an issue and to close the sale things need to be remediated which often costs the seller additional money. Peeling paint on an exterior brick wall will get called out at appraisal with an FHA loan so will unpainted wood, not with a conventional loan. On rural land the septic inspection and pumping will be required do to financing, it's negotiable with cash or conventional. I could name many more examples here. So for older homes or homes with deferred maintenance FHA can be problematic. If the seller doesn't have the money to fix an appraisal issue before closing, and many times they don't, the deal can fall out. With a newer home in good shape FHA is just as good as any other loan.
@Lisa-nt7wt
@Lisa-nt7wt 10 ай бұрын
Well done !
@manaarbroxton844
@manaarbroxton844 Жыл бұрын
This guy is so informative. I could listen to these videos all day. Learned so much going through my lending process. I reached out to his company after I had a set close date. I was emailed back and had my closing details reviewed and was told that I’m looking good. That was so honest and helpful as I was working with another lender. This will be my go to when I refinance out FHA. Customer service is spot on!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Awesome, I'm so glad to hear you had a great experience :)
@damahom92
@damahom92 Жыл бұрын
Kyle, you truly have a heart of a teacher! Thank you for all that you do. Wifey and I are much more comfortable with the wisdom you and the team have provided us. We are intending on buying a single 6-12 months and hoping we get a realtor with your attributes. You provided so much! Like, Subscribed and Sharing with friends and family. Definitely going to be a Lifer on this channel lol Keep up the hard work Kyle. Happy holidays and have a great new year!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Wow, thank you! Have a happy new year!
@thejoebirgexperience8192
@thejoebirgexperience8192 Жыл бұрын
If you are looking in the Las Vegas, NV area, I would be proud to help you.
@joaniemeiman5303
@joaniemeiman5303 Жыл бұрын
You’re a natural teacher, Kyle. Thanks for posting this detailed explanation. Really helpful!!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I appreciate that! Thanks!
@taneishareed7821
@taneishareed7821 Жыл бұрын
I had to stop in the middle of this video to say “THANK YOU” this is so good and holding my attention. Great job!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Wow, thank you!
@miladzadeh
@miladzadeh Жыл бұрын
Please keep in mind if you choose to roll the closing cost in, in other words artificially increase the purchase price then the house will have to appraise for that higher amount.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Great reminder!
@shahida46
@shahida46 Жыл бұрын
Literally obsessed with this channel!!! This is the BEST MORTGAGE CHANNEL ON KZfaq!!!!! Thank you sooooo much for this information this has been extremely helpful. You said we
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you so much for watching!! If I can help at all please email me kyle@winthehouseyoulove.com
@Potatoroomr
@Potatoroomr Жыл бұрын
Thank you for everything you do man. You have no clue how big of an impact you’re making. God bless brother
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I appreciate that. Thank you for watching my video. :)
@RileyJohnson-br7wh
@RileyJohnson-br7wh Жыл бұрын
🤯 So much information in this video. This must have taken days to organize this information to deliver in an hour and a half. Thank you for putting this together!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks! Haha it took a bit of time to put this together!
@user-gr6fv3pp1q
@user-gr6fv3pp1q Жыл бұрын
​@@WinTheHouseYouLove well it's very much appreciated 🎉🎉🎉
@marymagdalene142
@marymagdalene142 Жыл бұрын
This is the most informative FHA loan video I have ever watched. Thank you, Kyle!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Nice! Thanks for watching. :)
@ObedCEsquivel
@ObedCEsquivel Жыл бұрын
I already bought a house but I still listen to you, in the background lol. You're amazing at explaining very complex stuff ☺
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
LOL! Thanks for all the support. Let's hope everyone who watch my video will finally have a home. :)
@MrLopaka99
@MrLopaka99 Жыл бұрын
Love your detail and thoroughness. Excellent presentation.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you kindly!
@lcps6805
@lcps6805 8 күн бұрын
This is the best channel I have found on youtube regarding home buying. Ive watched many of your videos and hope to be entering the market soon equipped with what you have taught me. Not a great time but I dont know if a crash will ever come
@bryanbranion7426
@bryanbranion7426 Жыл бұрын
This was a very informational podcast. I have a lot of work ahead of me.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Glad it was helpful!
@amygresham5221
@amygresham5221 Жыл бұрын
Thank you for sharing your knowledge on buying your first home. I bought mine’s last year in March.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Hope you enjoy it! Thanks for the support. :)
@soulspiritbody
@soulspiritbody Жыл бұрын
You are a great educator! Love listening to you. Thank you for creating these videos. I hope you get tons of business from all of them; you deserve it!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Hey Soul & Spirit! Thank you so much for your kind words and support! I really appreciate it, and I'm glad to hear that you enjoy watching my videos. If you ever need any mortgage advice or assistance, feel free to visit www.winthehouseyoulove.com/lender or email me at kyle@winthehouseyoulove.com. Thanks again!
@jakealden2517
@jakealden2517 Жыл бұрын
Thank you Kyle. This is a great video, a master class on the FHA loan process! I will definitely refer to this video when I enter the housing market this year.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Glad it was helpful! Thanks for watching. :)
@YeZhik5
@YeZhik5 Жыл бұрын
I own 4 properties through conventional loans and am looking to buy a 5th. Due to my income to debt ratio I can't go down conventional loan path, but FHA is possible. I had no idea about how it works until this video. You've covered so much crucial information, possibilities, and what-if scenarios. Thank you
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for watching and best of luck!
@koremeltdown7258
@koremeltdown7258 Жыл бұрын
Terrible idea. This debt will fall on your head, I promise. Sell the investments consolidate the equity and buy a rental outright. Your plan will eventually crush you, its not the way to make real money.
@YeZhik5
@YeZhik5 Жыл бұрын
@@koremeltdown7258 thanks for your input. My w2 job covers all my expenses, the rental properties are extra. I'll be fine.
@mr.jimbusiness6326
@mr.jimbusiness6326 Жыл бұрын
@@YeZhik5 you cant use FHA for rental properties
@moshpitsonly2778
@moshpitsonly2778 Жыл бұрын
@@mr.jimbusiness6326 yes you can 😊 you just can’t let them know for a lil bit
@M-1ne
@M-1ne Жыл бұрын
This is one of the best videos I’ve seen on here for housing. Thank you for this
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Glad you liked it! Thank you!
@DekiaryCarter
@DekiaryCarter Жыл бұрын
Wow you literally covered everything and more that I was curious about. I'm planning ahead for the next 3-5 years with my wife so this is super helpful guidance. Thanks!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks so much for the kind words! I'm glad my video was able to help you out with your planning. It's always awesome to hear that the content I create is useful to others. If you have any more questions or need any additional guidance, don't hesitate to reach out. I'm always happy to help where I can. Glad you enjoyed the video, and I hope you and your wife have a great future ahead! kyle@winthehouseyoulove.com
@DekiaryCarter
@DekiaryCarter Жыл бұрын
@@WinTheHouseYouLove will do! Thank you so much. Have a great week.
@josecarloslezcano95
@josecarloslezcano95 Жыл бұрын
I feel like I attended a seminar… learned a lot of info and got over many doubts about this complex topic. Thanks for sharing your knowledge with us. I look forward to work with your team.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Hey Jose Carlos! Thanks so much for your kind words and support. I'm really glad to hear that you found the information helpful and that it cleared up some of your doubts. It's always great to know that I can make a difference and provide value to people like you. If you're ready to take the next step and start on a pre-qualification, you can head over to www.winthehouseyoulove.com/lender or just shoot me an email at kyle@winthehouseyoulove.com. I'm here to help whenever you're ready!
@85NDanielle
@85NDanielle Жыл бұрын
Thank you for this very informative video. With the knowledge I've gained, I feel well-equipped when I'm ready to move into the housing market next year.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Best of luck!
@LouieTheFrenchie
@LouieTheFrenchie Жыл бұрын
I have been subscribed and watching your videos for over a year now. The information you've provided has been so helpful! Finally prepared and ready to apply for an FHA. Currently working with a lender for a pre qualification letter. They questioned a 4K cash deposit I made on my account. It was a payment from my sister for money I lend her she's self-employed and gets paid with cash or personal checks. Hopefully, that doesn't kill it for me waiting to hear back from the lender. 🙏🏻
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for watching!! If you can document it it shouldn't be a problem. Also, I'd love for you to give my company a shot at a quote! We'd love to help with your loan. Feel free to send me the quote you have and we'll see if we can beat it! kyle@winthehouseyoulove.com
@LouieTheFrenchie
@LouieTheFrenchie Жыл бұрын
@Win The House You Love Okay sounds good will do. If I do get the pre qualification, I will email it to you. Thanks!
@gtllamas6558
@gtllamas6558 Жыл бұрын
Very informative and easy to follow. Thank you.
@spf_500
@spf_500 Жыл бұрын
Not sure how I went from budget KZfaq to here but I approve! Very helpful.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Haha not sure! Thank you so much for watching!! :)
@JeremyPorter-vt3ku
@JeremyPorter-vt3ku Жыл бұрын
the amount of information 🤯i chopped it into two days and finished the best if not top recommended videos to watch in my opinion
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
🙌 Thank you!
@r09ti
@r09ti Жыл бұрын
This is great info! Why are they not teaching this in high schools?
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
A lot of people are saying that, but don't worry.. I'm here! Thanks for watching. :)
@shannelbarrett-hawthorne7457
@shannelbarrett-hawthorne7457 Жыл бұрын
Such great information Kyle!! Thanks to you. Solid and on point!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I appreciate that! Thanks for watching. :)
@jerryosborn4946
@jerryosborn4946 9 ай бұрын
I do digital marketing for a living, and I have to say that this detailed video plus the video based walk-through journey is great!
@WinTheHouseYouLove
@WinTheHouseYouLove 9 ай бұрын
Thanks Jerry!
@justwatchingyoutube3285
@justwatchingyoutube3285 Жыл бұрын
Outstanding video and very thorough!! We are in the underwriting phase now and hearing the detailed explanations helped.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Best of luck and thanks for watching. :)
@ZorroDaddy
@ZorroDaddy Жыл бұрын
Great vid, I think Time Stamps are important for such a long one. Thanks
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks! Working on it
@ZorroDaddy
@ZorroDaddy Жыл бұрын
@@WinTheHouseYouLove Thank you very much.
@tanyamarie_realty
@tanyamarie_realty Жыл бұрын
Awesome information! Tennessee/Alabama Realtor and now a new follower. I love keeping up with details of all the loans as it helps me help my clients. Thank you!!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you so much for watching!! :)
@AaronDeHart
@AaronDeHart Жыл бұрын
your videos are awesome man. As a fellow loan officer, I appreciate how thought out these are and the great details you go into.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I appreciate that! Thanks for watching. :)
@dorisnamondo97
@dorisnamondo97 Жыл бұрын
So much amazing infos in this video!!! I was on another KZfaq channel completely unrelated to this content but she mentioned you and even linked yr video in her description and here I am! So grateful 🙏.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
😯 Who's that KZfaqr? I need to thank her. Thanks for watching.🙂
@essenceglenn4288
@essenceglenn4288 Жыл бұрын
I look forward to these informational videos ❤
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for watching, Essence!
@lizelles.8657
@lizelles.8657 Жыл бұрын
Thank you so much for this highly informative video. I have some FHA knowledge but geez you really covered so much great information and broke it all down fabulously. I will be contacting you guys. I need help/info on buying when relocating
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Appreciate it. Yes, you can contact us at www.winthehouseyoulove.com. Looking forward to hearing from you. 😃
@jamaul8909
@jamaul8909 Жыл бұрын
What a great video. Trying to get military orders to my preferred location and buy a home and this has def helped me. Thanks
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Awesome! Thanks for watching. :)
@LuisReyes-pr7lx
@LuisReyes-pr7lx Жыл бұрын
You have to be a special kinda guy to be giving this kinda game out ! Thanks! Oh and patient, to not lose your marbles on some of these folks in the comments lol
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for watching! Haha, KZfaq comments can be wild sometimes
@MoMoni81
@MoMoni81 Жыл бұрын
FHAs are not favored by sellers because they’re coached by many realtors who are mainly focused on their commissions. So it’s basically it’s agents lacking in educating their clients.
@tiffanyjohnson4271
@tiffanyjohnson4271 Жыл бұрын
I love watching your videos because you really explain everything very well. I plan on taking a Real Estate class soon, so this information will be useful
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you, Tiffany! Best of luck!
@jaiordynamicz
@jaiordynamicz Жыл бұрын
You just taught me soo much about fha loans so glad I shared this video to my friends
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Awesome!! Thanks for watching!
@matrixgc
@matrixgc Жыл бұрын
This was a very informational podcast. We are a 203(k) contractor in Philadelphia and nj
@jonathandeleon5747
@jonathandeleon5747 Жыл бұрын
Thanks for the video! After watching it, I feel less anxious on what to expect when talking to a lender. My wife and I have a lot of student loan debt. We are both on IDR plans and switched to IDR while deferment (COVID student loan pause) was in effect. On the student loan slide, it was mentioned that we can avoid the 0.5% by switching to a government plan (IDR). But I feel like that's not entirely true at least if done today. Correct me if I am wrong, but new payment plan won't hit/reflect on credit report until the pause (deferment) is over and there has been proof that the new payment plan is the new monthly payment. So until then it will still be 0.5% or 1% of the entire loan (depending on the loan). If the switch to IDR was done before deferment, then there is proof of a monthly payment which can be used in place of 0.5% or 1%.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
On IDR the credit report is not proof of payment. You just show your IDR documentation and that is used for the payment. It overrides the credit report.
@jonathandeleon5747
@jonathandeleon5747 Жыл бұрын
@@WinTheHouseYouLove Thank you for the clarification! Love your vids!
@mattyrodz7899
@mattyrodz7899 Жыл бұрын
Hi! Thank you for putting this video together! Amazing! My question is: could you own two 4 unit properties under FHA in two different states? In my case, one in TX and the other in NY? I can comply with the year stay on each property but it is my desire to will the properties to my children. Thank you!!!
@KillYourTV444
@KillYourTV444 Жыл бұрын
Thank you for being so thorough and making this so understandable!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I just recorded a personal video reply for you: vid.us/pgk7bb
@pierregarcia4758
@pierregarcia4758 Жыл бұрын
Thank you very very much for this education on FHA loans this by far was one of the most educational videos I ever seen very professionally done great great job I would have paid for this information it’s that good
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Great to hear! Thanks for watching. :)
@doki8227
@doki8227 Жыл бұрын
Thanks for making this video! So informative! My only question is if the FHA exists to insure the mortgage why is PMI so high for these loans in particular?
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
PMI is only on Conventional loans. FHA has MIP. MIP is how FHA is able to insure the loans. That’s where they get their money to pay out lender default claims. FHA is one of the only self-sufficient government entities because they collect MIP.
@LeoMese
@LeoMese Жыл бұрын
Thank you for this, it is the most informative video I've seen on this topic. Currently have all the boxes checked regarding eligibility, how far in advanced should someone reach out to y'all in regards to getting an approval ready? I'm waiting to see if prices come down by the end of summer, but want to be ready when the time/property is right.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Right now! Here's my website: www.winthehouseyoulove.com
@UnconditionalLoveChrist
@UnconditionalLoveChrist Жыл бұрын
God bless you. I have been a real estate agent for months and feel overwhelmed with all the new things I’m learning. Lender side of it I was putting on the back burner and now you made it enjoyable easy and informative. Thank you thank you thank you.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Fantastic! Thanks for watching.
@aminaa7909
@aminaa7909 Жыл бұрын
Revisiting this channel very grateful for all I learned bought in 2021 with interest rate 2.9! Thank you very much! You are the best
@KevinChiloJr
@KevinChiloJr Жыл бұрын
Hey Tyler awesome video. So the only way of getting rid of MIP on FHA is to refinance once the house has 20% equity ? Or put 10% down? Is that the only way?
@nursedanig2246
@nursedanig2246 Жыл бұрын
Very kind of you to explain this so patiently. I am wondering about the $22,000 closing cost total you posted on that $415,000 loan. Did that include the down payment 3.5% of $14,000 or it’s in addition to?
@user-gr6fv3pp1q
@user-gr6fv3pp1q Жыл бұрын
Closing costs are usually separate, I think in this case they were separate too.
@rosapiedra603
@rosapiedra603 11 ай бұрын
I love the way that you explain everything very clear
@evaarbo5456
@evaarbo5456 Жыл бұрын
Kyle, you are an angel came from heaven 😇🙏👍👏👌 sorry there are no words to describe you informative, detailed, kind heart, helpful, handsome All in one 🤩 God bless you 🙏🙏
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you so much for watching!! :)
@alreadyydopelife6616
@alreadyydopelife6616 Жыл бұрын
My score is above 700 less than 730. My main concern is not being able to do 20% down plus all the closing cost & reserves needed for conventional loan. Would you recommend FHA for the 3.5% or just try to save
@starbad3685
@starbad3685 Жыл бұрын
FHA
@gonzaloruelas7603
@gonzaloruelas7603 Жыл бұрын
Hey Kyle love all your content by the way!! Question would it make sense to go FHA if you want to take advantage of DP assistance that you don’t have to pay back even if you have a 750 credit score?
@gsa7512
@gsa7512 Жыл бұрын
Good question
@LouieTheFrenchie
@LouieTheFrenchie Жыл бұрын
My same question.
@billiefrank8543
@billiefrank8543 Жыл бұрын
Kyle thank you so much. I don’t think you have any idea just how much you are helping FTHB and others. Your videos have really helped to build my confidence and take the necessary steps to secure a home for my children and as a single mom having that confidence is key! Thank you Kyle 😘😘
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you so much for watching!! :)
@lev360
@lev360 9 ай бұрын
Wow you are spot on an explanation fha and conventional loans I appreciate it
@WinTheHouseYouLove
@WinTheHouseYouLove 9 ай бұрын
Glad it was helpful!
@nursedanig2246
@nursedanig2246 Жыл бұрын
Another question, so if I have $8000 in my savings account from just saving money for the past year towards a down payment, when I give my 2 months of bank statements to the lender, will they question the source of that $8000 that’s already been in there? Will they want more than two months of statements to see where that money originated from?
@mariomcfarren97
@mariomcfarren97 Жыл бұрын
Hey Dani I am a loan officer and yes you can use that $8000 of cash as long as it has been in your account for at least 2 months it's what we call "seasoning" as long as it's seasoned for 2 months you are good to go!
@davidparisi5650
@davidparisi5650 Жыл бұрын
Kyle, I love your videos. I had a question, I noticed you mentioned the payment on your FHA monthly mortgage insurance premium will decrease every year.. Is this a new change? From my understanding, the payment has always remained fixed for the life of the loan.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Nope! It's always re-amortized each year. Here's HUD's guidance on this: www.hud.gov/program_offices/housing/comp/premiums/sfpcalc I actually contacted a major mortgage software company about this because they did their calculations wrong. They didn't believe me and reached out to HUD who confirmed.
@amznprime5145
@amznprime5145 Жыл бұрын
He speaks so softly that I use his videos to cure my insomnia zZZ
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Haha as long as it helps!
@veasnalee3596
@veasnalee3596 Жыл бұрын
Thanks for the video. I had HFA loan on my apartment since 2008, but not really full understood back then. By putting 3.5% down and it helped me to have money left for my next houses.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
That's awesome!
@AnnnnnaQ
@AnnnnnaQ Жыл бұрын
One of the most informative FHA video I've ever seen on social media!! Thank you!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Wow, thank you!
@Watermelon_Shuga
@Watermelon_Shuga Жыл бұрын
Best explanation ever and I've been researching and educating myself for years. Thank you!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Wow! Thanks for watching. :)
@joshuasplitt8953
@joshuasplitt8953 Жыл бұрын
Looking to purchase my first home for me and my two children. Credit score is a 589 last time I got my report pulled. Diagnosed with PRMS back in 2018 and filed for disability shortly after.
@Laryanka
@Laryanka 5 ай бұрын
You are a very good teacher. Good class.
@shahidulalamkhan5417
@shahidulalamkhan5417 6 ай бұрын
Hi Kyle, so helpful insight. I’ll buy my first home through your company next year! Let’s keep in touch base. Thank you for the video
@WinTheHouseYouLove
@WinTheHouseYouLove 6 ай бұрын
Thanks! Feel free to reach out if you have questions kyle@winthehouseyoulove.com
@eldelacordeon
@eldelacordeon Жыл бұрын
Thank you for the great information. It is evident that you have much experience given to the fact that you give in depth detail examples of how situations and market conditions affect the qualifying process. All in all, I see you give advice to hav epeople better prepared to purchase a home. Thank you.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
So nice of you. Thank you!
@ash2kewl
@ash2kewl Жыл бұрын
I always looked at FHAs as the loan you go to when you can’t afford a 20% down payment
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Nope! :)
@Happycow567
@Happycow567 11 ай бұрын
Thank you so much for this video! Just starting my homework on home buying and you were able to break down most aspects very well. Definitely going to check out some more of your videos
@WinTheHouseYouLove
@WinTheHouseYouLove 11 ай бұрын
Thanks and best of luck!
@Mr.Coffee117
@Mr.Coffee117 Жыл бұрын
I love your channel I live in Spring Tx and Just got my dream job. I will be paying off my debt this year and will also save for a house next year. I am learning a lot from your channel. :)
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Congrats!! Thanks for watching!
@Mr.Coffee117
@Mr.Coffee117 Жыл бұрын
@@WinTheHouseYouLove Is it possible to get a loan for $375k-$400k if I have no debt and I am making $70,000+ a year?
@adrrianajordan
@adrrianajordan Жыл бұрын
Thanks sooo much for such a detailed video about loans because it was scary to think about but after watching I feel like I understand better and feel better not that I really understand
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I know, it's like what you don't know won't hurt you. 😅
@khalidqatash2525
@khalidqatash2525 Жыл бұрын
Great video love it watched it three times well done by the way, I’m in a agent from Miami Florida
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thank you! Cheers!
@nik3141
@nik3141 Жыл бұрын
Thank you. Your Videos are so informational. They have prepared me.
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Wonderful! Best of luck!
@niameanspurpose
@niameanspurpose Жыл бұрын
you dont know what your credit score is until you apply for financing...and each place has their own credit score. the fico score online is not the same fico score an institution have. Once one place runs your credit..you are immediately impacted by the inquiry. now can one use your credit simulation to "reach the ideal score" to apply without pulling the credit report...thats the biggest problem with applying for any type of financing. We dont have the true credit score. great information...thanks for sharing
@bangbow3606
@bangbow3606 Жыл бұрын
Experian
@jhonm.5823
@jhonm.5823 Жыл бұрын
information is right on ...now can you touch on building a home on land that you own
@maggieluvable
@maggieluvable Жыл бұрын
Great speaking voice. And I learned something. Ty! 😊
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I just recorded a personal video reply for you: vid.us/qh29pk
@papo8272
@papo8272 Жыл бұрын
Thank you for this video!! Everything was explained so simply. So much valuable information! I’m hoping and praying you already have a video elaborating on using FHA alongside New Construction. If not I would be beyond grateful for a video specifically on that topic!!
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
I'll add that in my to-do list. Thanks for the support. :)
@mrwondering2594
@mrwondering2594 Жыл бұрын
810 average credit score 110k Salary No debt But being that homes in TN right now are overpriced by 2x-3x no way in heck I would buy in this market I’ll just stay in my paid off home and keep saving 1k a week Be aware people these Realtors all have a racket going on, they buy up good properties or funnel to people they know, 90% of the time the houses that hit general market are either overpriced by 25% or more and/or usually crappy investments Do not get taken advantage of wait for a good deal don’t put yourself in 100k+ debt without enough equity to get out of it if need be And if you can’t reasonably pay off a home in 10 years….you can’t afford that home! don’t saddle yourself in 30 years of debt people that is no way to live, don’t be a debt slave propping up this upside down system Live within your means it’s that simple
@joeym1635
@joeym1635 Жыл бұрын
Good advise , that's what I have always felt. 30 years is crazy.
@carlitot5388
@carlitot5388 Жыл бұрын
I almost got the house I wanted and wasn’t picked because the other person had a conventional loan! It was just me and one other person! Smh 🤦‍♂️! Owell! Wasn’t the one!!
@aquiferjunkie4413
@aquiferjunkie4413 Жыл бұрын
Thank you for filling in holes that other video creators create
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
My pleasure!
@crystalnyla
@crystalnyla Жыл бұрын
NEW SUB !!!!!!! THIS IS GOOD STUFF THANKS. IM WEEKS AWAY FROM BECOMING A REALTOR
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Awesome! Best of luck!
@rushealkiffin3242
@rushealkiffin3242 Жыл бұрын
Thank you for this information I’m learning so much from you guys keep up the good work
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Thanks for the kind words! I'm glad you're finding my content helpful. Keep watching and learning! Appreciate the support
@americafirst6628
@americafirst6628 Жыл бұрын
THIS HAS BEEN SO INFORMATIVE...THANK YOU SO MUCH
@WinTheHouseYouLove
@WinTheHouseYouLove Жыл бұрын
Hey America First! Thanks so much for your kind words and support! I'm glad to hear that you found the information informative
@Alessandro1983
@Alessandro1983 11 ай бұрын
Such a great video and very informative. Thank you sir, you know have a new follower. I hope your page continues to grow and these videos become ever green!
@WinTheHouseYouLove
@WinTheHouseYouLove 11 ай бұрын
Welcome aboard! Thanks for watching my videos. :)
@leahislg3607
@leahislg3607 Жыл бұрын
This video was very helpful! Thank you for all the information. I have heard across multiple platforms that they don’t like cash. What if the person is a cash budgeter? How would this effect approval? Thank you in advance!
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