Here's everything you need to know about FHA loans so you can make sure you don't run into any issues when you're ready to qualify → kzitem.info/news/bejne/tGOsn46ug5enmaQ
@SkyLifeIND
4 жыл бұрын
I’d like to compliment this guy on a few things: 1. Thank you for getting straight to the point and not wasting time in the beginning asking people to “hit that thumbs up button and be sure to subscribe”🙄🙄🙄 2. Thanks for speaking in a calm tone that is clear and breaking your knowledge down in a way people can understand and not lose attention to. 3. Awesome haircut! Very nice fade on the sides!👌🏾
@WinTheHouseYouLove
4 жыл бұрын
Thank you so much for such kind compliments, Josh!!
@natashadwyer8336
4 жыл бұрын
Yesss nice to look at, soothing to listen to and good info. I subbed.
@nanettematthews2264
2 жыл бұрын
His tone is soothing. Like he's speaking directly to the listener.
@shaundocmcgowan8836
4 жыл бұрын
This is the best breakdown of FHA and strategy to get out of it that I've heard or read anywhere. Thank you!
@WinTheHouseYouLove
4 жыл бұрын
Ah thank you!! That’s so kind. Thank you for watching!
@WinTheHouseYouLove
4 жыл бұрын
Timestamps for y'all: 0:48 Your credit score and minimum down payment 1:44 $100 down program 2:22 Why down payment assistance isn't good 3:24 Where does the down payment come from? 5:15 Using a loan for a down payment 6:10 Gift funds 6:29 Who can give gift funds? 8:44 FHA loan strategy you need 9:30 What you need to do if you have an FHA loan 10:40 Using FHA to pay closing costs
@WinTheHouseYouLove
4 жыл бұрын
🎧 Listen To The Podcast plinkhq.com/i/1493715474 💰 7 Proven Ways To Save Thousands On Your Home www.winthehouseyoulove.com/free
@TrishZenCorner
4 жыл бұрын
Are you able to request that credit if you go straight into a conventional loan?
@edwarddasco4792
4 жыл бұрын
Question. Why does the lender care if you have 5K cash or not? Uhh Like it’s my money ? Why do you care. What if I deposited that before hand etc..
@WinTheHouseYouLove
4 жыл бұрын
Edward Dasco on riskier loans, the lender wants to make sure people have money left over to make the first payment instead of draining their bank account. If you deposit anything large, the lender has to document that it came form an acceptable source
@JennLobeauty
4 жыл бұрын
Is it better to start with a conventional loan if your credit score is already 720+
@ang5035
4 жыл бұрын
his voice got such a soothing, calming effect on me... I am not in the market but I just love hearing your voice!!
@WinTheHouseYouLove
4 жыл бұрын
Hahah thanks!!
@YoungSperm
4 жыл бұрын
Win The House You Love I fell asleep lol
@WinTheHouseYouLove
4 жыл бұрын
@@YoungSperm Hahah I'll be out with the asmr sleep video next 😉
@natashadwyer8336
4 жыл бұрын
Wow he does lol it’s bedroom nice yet professional lol I can listen to him all day. Wonder if he has a podcast? Lol
@WinTheHouseYouLove
4 жыл бұрын
Natasha Dwyer hahah. All of these videos are turned into a podcast on Spotify and Apple Music and such. Search “Win The House You Love” :)
@Simpliyvonne
4 жыл бұрын
Thank you sooooo much for this video . I am planning on buying a house because I don’t think renting makes sense for me . I had no idea you could refinance and later get a conventional loan . That literally changes everything for me . Again thank you for your knowledge 😊.
@WinTheHouseYouLove
4 жыл бұрын
You're welcome, I'm so glad it was helpful :)
@sun2001kim
4 жыл бұрын
I'm not in the best time of my life right now, financially and personally, and with the whole COVID-19 tragedy, I was honestly getting depressed. You videos giving me a hope and I think I will look into buying a fourplex as my first home. Really appreciate your knowledge sharing videos!!!
@WinTheHouseYouLove
4 жыл бұрын
Thanks for your comment! I recorded a personal video reply for you: m.bixel1.net/g35imo Also, here is a great video on anxiety and COVID-19: kzitem.info/news/bejne/pZ2Qq4imnWuZaKg
@flogol4645
4 жыл бұрын
You are truly a Blessing for those who are doing their homebuying research 🙏. Thanks for not wasting time and getting to the point. I am in the process of starting my homebuying adventure and searching for true, honest and keeping it real information. You are the best. Hope I can reach out for more questions to you!thanks again for sharing 😊.
@WinTheHouseYouLove
4 жыл бұрын
You are very welcome!
@mrmagorium12
4 жыл бұрын
Been looking for a HUD REO home on the HUD HomeStore. $100 down is incredible! Going to pair that with the 203k option and refi 12 months later. IRR is going to be JUICY!
@WinTheHouseYouLove
4 жыл бұрын
Awesome!! Best of luck!
@MaggyDreamer47
3 жыл бұрын
I’m currently looking to buy a house and I was looking into down payment assistance for mostly closing costs but this strategy makes so much sense! I wasn’t thinking long term and you completely changed my game plan in such a positive way!! Thank you!!
@WinTheHouseYouLove
3 жыл бұрын
Go for it! Best of luck!
@tomboydee3326
4 жыл бұрын
Wow this is the best video ive seen that he actually broke it down for us to understand THANK YOU new subscriber here
@WinTheHouseYouLove
4 жыл бұрын
You’re welcome! Thanks for watching!
@ARTISTCHD1
4 жыл бұрын
#2 STIMULUS $1200.00: = SENATE & CONGRESS & HOUSE OF REPRESENTATIVES: Step down and aside, from official politicized powers; herein, THE UNITED STATES FOR AMERICA OF NORTH USA. Really resign requiring remorse- regrets - repentance righteously + reciprocal restitution. The U.S. Certified Citizens collectively, comprising cosmetic coloration complexions commandeer co-creating + controlling "climate change" and courageously cleansing cultural customs and correcting crooked corporation companies, capital cash currency commerce = $$$
@KCelyce
4 жыл бұрын
Your voice 😩 I can listen to you all day. Thanks for the information !
@WinTheHouseYouLove
4 жыл бұрын
Thanks for watching!!
@robertcornelisse8664
4 жыл бұрын
I been studying fha for the last 2 years. I knew 75% of what you explained in this video...thank you so much for the 25% i didn't know. This video is gold. My wife and i want to buy a house with a fha203k. We found out it's really complex to buy a house.
@WinTheHouseYouLove
4 жыл бұрын
That's awesome! You have a great head start!!
@justintrussell7739
4 жыл бұрын
Make sure you have additional funds, to finance the renovations, at the start. The lenders want to see progress before they will shell out that 50 k.
@tiffanycoleman9970
4 жыл бұрын
Wow, this was the by far the best breakdown of an FHA loan down payment! Thank you so much!
@WinTheHouseYouLove
4 жыл бұрын
That’s so kind, thank you Tiffany :)
@REI-20244
3 жыл бұрын
Wow! Amazing! You answered all my questions with this video. I’m actually house searching now. I got pre approved for an FHA loan. This video is exactly my situation. Thank you so much for your information. It’s really helping.
@WinTheHouseYouLove
3 жыл бұрын
Glad it was helpful! Thanks for the support. :)
@helloamericanbabi
4 жыл бұрын
I really like the worksheet along with the oral information. You're really good at explaining and easy to understand. Thank you!
@WinTheHouseYouLove
4 жыл бұрын
Thanks!!
@Augustschuller
4 жыл бұрын
@@WinTheHouseYouLove I've struggled in my home buying consults using zoom etc...what is the setup to have the side by side whiteboard? Well done by the way.
@WinTheHouseYouLove
4 жыл бұрын
@@Augustschuller Thanks! I don't know of a way to make this setup work live, but: First, I screen record my iPad and use a drawing app called Adobe Fresco. Then, I record the video while drawing any notes on the iPad. Next, I import both the screen recording and video into Final Cut Pro. I overlay the screen recording on top of the video and sync them up so you can see me draw and talk at the same time.
@justintrussell7739
4 жыл бұрын
I have never watched any of your videos but it came up because I have been looking into FHA Loans. Your video is the hands-down best video on FHA loan strategy or FHA Loans. Got an instant subscribe from me for this one. I love the way your mind works and you were able to clearly explain so many things so quickly, so thank you for making this video.
@WinTheHouseYouLove
4 жыл бұрын
Justin, you made my day!! I'm so glad this video was helpful! Thank you for watching and subscribing!
@kamilsultan1637
4 жыл бұрын
Never heard about interest rate vs credit from any other KZitemr or article. Thinking ahead could really save thousands!
@WinTheHouseYouLove
4 жыл бұрын
Absolutely!
@nikasiamashvili8540
3 жыл бұрын
You make it really easy to retain the information with your clear real world scenarios !! You just gained a subscriber:)
@WinTheHouseYouLove
3 жыл бұрын
Thank you so much for watching!! :)
@h.s.m1211
4 жыл бұрын
Trying to buy my first home these are very good insights because I don't have a clue and better to know something when talking to your lender....thanks alot
@WinTheHouseYouLove
4 жыл бұрын
Glad it was helpful!
@Motivation66667
4 жыл бұрын
As a Real estate agent I want to thank you for brining so useful information about differnet loans and educating people , it is so important! 🙏🏻👍🏻👌🏻
@WinTheHouseYouLove
4 жыл бұрын
Thanks for watching! Keep up the good work on your channel!
@Lauren-kr5rq
4 жыл бұрын
Wow! Thank you so much for this breakdown! I have been trying to get this information for the last year and not one lender has broken this down for me. Now that I know this, I will definitely look for an FHA approved lender and direct ask for the 5% down and the credit for the closing cost. That is genius and a very great tip! Your advice is highly appreciated.
@WinTheHouseYouLove
4 жыл бұрын
Glad to help! Just to clarify, you’d still only put 3.5% down, but you’ll be asking for a higher interest rate than normal to receive a lender credit towards closing costs. In this video, I used a 5% interest rate as an example :)
@Lauren-kr5rq
4 жыл бұрын
@@WinTheHouseYouLove noted.
@Lauren-kr5rq
4 жыл бұрын
@@WinTheHouseYouLove btw.. love your voice 🙂just saying.
@balilifamily
4 жыл бұрын
Can you explain how to switch from a FHA loan to a conventional loan when you refinance? How does that look like? Loving the information by the way. You've gained a new subscriber! 😁
@WinTheHouseYouLove
4 жыл бұрын
Sure thing, it's a pretty hands-off experience. Basically, you'll talk to a lender and let them know you want to switch from FHA to conventional and they'll draft up paperwork for you to review. Thanks so much!
@chrisgreene9685
3 жыл бұрын
From the time you initiate contact with a lender, how soon is closing on average? And when is the downpayment due?
@WinTheHouseYouLove
3 жыл бұрын
Hi! Usually it takes 30 days depending on the lender and the documents that you have. Best of luck!
@davidkwon1322
4 жыл бұрын
Increase interest rate to avoid closing cost -> Refinance to a conventional loan to minimize interest rate 3 month~12 months. Is this right? If so, Is there any additional fees I can expect to incur when refinancing? Could you also explain points or direct me to a link that explains this further? Thank you so much.
@WinTheHouseYouLove
4 жыл бұрын
You can do that! Refinancing does have fees, but you can shop to find affordable options. Should You Pay Points? → kzitem.info/news/bejne/y6yQuaOPp4eSZXY
@presidentialdre244
4 жыл бұрын
Bro this is UNREAL HELPFUL! Wow brother keep dropping 💎’s.
@WinTheHouseYouLove
4 жыл бұрын
Thanks! Will do!
@jonny82611
4 жыл бұрын
Im thankful for this video 😁 helped me see FHA loans a different way
@WinTheHouseYouLove
4 жыл бұрын
Wonderful, I'm so glad to hear!
@justbefunny4592
4 жыл бұрын
Just started process of getting FHA loan, your video helped me more. Thank you
@WinTheHouseYouLove
4 жыл бұрын
Glad it helped!
@Kan-dj7qd
4 жыл бұрын
My brother thank you so much for your channel. The biggest mistake mistake ive made in the last 4-5 years is not getting a head start on any of this stuff.
@WinTheHouseYouLove
4 жыл бұрын
You're welcome, thanks for watching!!
@llibressal
Жыл бұрын
I'm closing in on my last ten payments to my FHA loan. If I can pay the rest of it in one chunk should I do that or should I continue the individual payments. (I'm currently 14 years ahead of schedule on payments on a 30yr loan).
@karinaalvarez5716
4 жыл бұрын
I just Want to thank you SO SO MUCH! My "Loan Officer" wasted a whole 3 months of my life just recently and NEVER took the time to sit down with me and my husband to break this whole FHA loan down! This makes so much more sense to me now! This whole thing is actually pretty confusing when you're a first time home buyer!
@WinTheHouseYouLove
4 жыл бұрын
You're very welcome! I'm glad you have a solid understanding of the program :)
@solp5998
4 жыл бұрын
My lender is the same way 😩
@LisadeKramer
4 жыл бұрын
As a seasoned loan officer, I think you did a very fine job on explaining this program. Many loan officers do not even understand FHA and never offer it as an alternative.
@WinTheHouseYouLove
4 жыл бұрын
Thank you so so much! It's amazing how many lenders don't understand FHA. FHA is about half of our loans here in Ohio
@ARTISTCHD1
4 жыл бұрын
#2 STIMULUS $1200.00: = SENATE & CONGRESS & HOUSE OF REPRESENTATIVES: Step down and aside, from official politicized powers; herein, THE UNITED STATES FOR AMERICA OF NORTH USA. Really resign requiring remorse- regrets - repentance righteously + reciprocal restitution. The U.S. Certified Citizens collectively, comprising cosmetic coloration complexions commandeer co-creating + controlling "climate change" and courageously cleansing cultural customs and correcting crooked corporation companies, capital cash currency commerce = $$$
@lisamarie4470
4 жыл бұрын
Love the useful information, the soothing voice is a plus!
@WinTheHouseYouLove
4 жыл бұрын
Glad it was helpful! And thanks!
@evelynvega1730
3 жыл бұрын
Is the mike only the mike.
@Dr2009king
4 жыл бұрын
Kyle your channel is super valuable, you deserve more subscribers buddy!
@WinTheHouseYouLove
4 жыл бұрын
Thanks so much! I'm just blown away by 14k honestly
@dominickcacchio6730
3 жыл бұрын
Thank you so much for your service here. Hopefully I can find someone as honest and knowledgeable as you in my area to help me get all that I can out of this. I especially loved how you described it being a temporary loan by trying to refinance asap. And also about getting money towards the closing costs by increasing the interest rate. Is that something most lenders will typically allow? I'm sure they won't mention it unless someone asks about it lol. Your video was empowering to me, and now I feel less intimidated and more confident about being able to pull this off. Hopefully I can find someone willing to explain more, like does the higher credit score even really matter if you still have late payments within the past 12 months. Thanks again, wishing you well from Philadelphia!
@dendrxx
4 жыл бұрын
Hey thank you for the helpful information. I never considered taking a higher finance charge to help out with the up front closing fees.
@WinTheHouseYouLove
4 жыл бұрын
You're welcome! I'm glad to offer something to keep in your back pocket
@travalasmassey1406
4 жыл бұрын
Great video! what if i have a 720+ credit score already? Should i just go with the Conventional loan and forget about the FHA loan????
@WinTheHouseYouLove
4 жыл бұрын
Thanks! If you have outstanding credit, get a quote for a conventional loan and compare the two :)p
@AZNGoSu
4 жыл бұрын
Can you clarify how and why to refi into a traditional loan? If i start at a high interest FHA, how many years/payments do i make before looking to refi. What is the refi process like? Interest rates are super low right now and expected to increase, should i lock in the low rate now? When i refi into a traditional loan, do i get to wash off any MIP?
@WinTheHouseYouLove
4 жыл бұрын
Sure! So, you'd want to refinance to a conventional loan so mortgage insurance will eventually come off. When to refi is a highly personalized thing, I'd recommend talking to a loan officer for help there.
@amandatex1306
4 жыл бұрын
Really, the best video out there, hands down. yYu must have been a teacher in another life. You explained everything in a way that I understood, and I feel more confident now when dealing with my mortgage broker. I loved the idea about higher interest rate, to switch over to conventional. This is something not taught!! Ty
@WinTheHouseYouLove
4 жыл бұрын
Thanks so much! I'm glad it was helpful :)
@J.CherieAmour
4 жыл бұрын
You are my new favorite. I love your calming voice and helpful breakdown. Thank you for this!
@WinTheHouseYouLove
4 жыл бұрын
Thanks for watching and for you kind words!
@bejonnelson1669
4 жыл бұрын
I just started watching your videos and I have to say that the information provided in them is top of the line!! But I also would like to ask you to consider starting a ASMR KZitem channel😅you have a soothing demeanor
@WinTheHouseYouLove
4 жыл бұрын
Thanks so much!! Hahah I've had a few people say that, maybe I will! Kyle Seagraves → winthehouseyoulove.com
@JasmineMitchell
4 жыл бұрын
This is very helpful. We were recently offered 2.99% if we paid more at the closing table. I want to bring this up with my lender to see if she can make this work for us. Hopefully I don’t botch the question. Any tips for how to inquire?
@WinTheHouseYouLove
4 жыл бұрын
Glad to help! You won't botch the question, most lenders will be glad to help :)
@MRSJP-sj6sl
4 жыл бұрын
thank you, you are and effective communicator. the best Ive listened to so far.
@WinTheHouseYouLove
4 жыл бұрын
Wow thank you so so much!
@izeilasaldivar9525
4 жыл бұрын
This was super helpful. I was about to try fir an FHA loan in September but then the lockdown happened so I lost my job :( hopefully I can get back on track in 2 years cuz I really want this. I'm gonna a share this. Ideo with my friends cuz they are also interested in buying homes but don't know where to start.
@WinTheHouseYouLove
4 жыл бұрын
Ah that's a bummer, sorry to hear that! You will only need to be back at a new job for about a month, not 2 years.
@jiwannepal3313
4 жыл бұрын
Hey man, first of all awesome video. Clear and right to the point. If I refinance my FHA loan to a conventional loan will I be able to put that equity toward another house?
@WinTheHouseYouLove
4 жыл бұрын
Thanks! You can if you do a cash-out refinance. You could also look into a home equity line of credit
@mhart94
3 жыл бұрын
This helped a lot. We needed just another $1000. Got a secured title loan on our car. Paid the DP. Then paid the loan off in 2 months!
@WinTheHouseYouLove
3 жыл бұрын
Glad to help!
@HumbleBeginningSeven
4 жыл бұрын
Wow i am a week to late for this video😣 you've explained everything clearly. I wish i had this advise sooner!!
@WinTheHouseYouLove
4 жыл бұрын
Better late than never! :)
@carlosalbarracin6234
4 жыл бұрын
Regarding the credit when switching to 3.5% to 5.0%, is a credit automatically calculated if you choose to put down more than 3.5%? Or is it a set amount?
@WinTheHouseYouLove
4 жыл бұрын
The credit depends on a lot of things like the loan amount, specific credit score, etc
@brandirobinson3276
4 жыл бұрын
Broke it down like abc. Thank you
@WinTheHouseYouLove
4 жыл бұрын
Glad it helped!
@elvinque5393
3 жыл бұрын
Hello I wanted to know if you can please do a video on having a bankruptcy on your credit after 2 yrs. And wanting to buy a home. What would be the process and best option. Thank you
@WinTheHouseYouLove
3 жыл бұрын
Thanks! Great suggestion!! I've been hearing more and more about them recently, so I will add it to my video ideas list :)
@solmarymedina3546
4 жыл бұрын
It’s like ASMR😫🤤 but thank you for your explanation!!🙌🏽
@WinTheHouseYouLove
4 жыл бұрын
Haha! You're welcome!
@Snapcracklepwn
4 жыл бұрын
My wife and I are prequalified for a conventional loan and because of our good credit, we were told we only need to put down 3%. But since we are putting down less than 20%, we have PMI. My question is, will that PMI eventually go away after we have paid a certain amount? Or would we have to wait a certain amount of time and then refinance. Thanks!
@WinTheHouseYouLove
4 жыл бұрын
If it’s a conventional loan, the you can request the PMI to be removed when you have 20% equity and it will automatically be removed when you have 22% equity. If it’s an FHA loan, MIP will stay on for the life of the loan unless you put 10% down. Sidenote: conventional mortgage insurance is called PMI (Private Mortgage Insurance) and FHA mortgage insurance is called MIP (Mortgage Insurance Premium)
@Em_Dee_Aitch
3 жыл бұрын
This is fantastic! I thought we were years from home ownership. We can do this NOW!
@WinTheHouseYouLove
3 жыл бұрын
Incredible! I'm so glad to hear it was helpful!!
@GreysonDrummonds
3 жыл бұрын
Such an amazing video! Very detailed. As a training MLO, this helps me learn if I have missed anything in my education. What type of camera or video device do you use for your videos? I will be doing KZitem videos soon, and really like the clarity of your videos. Thanks again! Grey
@WinTheHouseYouLove
3 жыл бұрын
Hi! Thank you! I'm using a Sony a7 III. Best of luck!
@julio__garza
2 жыл бұрын
so each app I've tried doesn't look good after I remove one half of rental income due to me wanting to live on one side of a duplex. How do I account for that? Or will a lender take that into consideration? I wouldn't plan on living there forever so eventually monthly income would increase.
@yeswe_buy_houses1805
2 жыл бұрын
Can lender's credits go towards down payments?
@nica65123
3 жыл бұрын
Thank you for breaking this down. you do a great job at explaining this in a simple easy to understand way.
@WinTheHouseYouLove
3 жыл бұрын
Thank you so much for watching!! :)
@JoshVidal
Жыл бұрын
What if I was left cash from a family member who passed away (over 10k), can i deposit that in my bank and use that for a down payment? Also, how long before cash deposits to my bank are usable for a down payment?
@WinTheHouseYouLove
Жыл бұрын
Hey JV, Sorry to hear about your family member's passing. And yes, certainly, you can use that money for a down payment. The key thing is being able to "season" the funds - which simply means the banks want to see that cash sit in your account for a certain period of time (usually 2 months) before they're comfortably used for a mortgage. Be prepared to show the origin of the money as well (like a will or an inheritance letter). Feel free to reach out if you have further questions or if you're ready to start on a pre-qualification! Either hit the link www.winthehouseyoulove.com/lender or shoot me an email at kyle@winthehouseyoulove.com. Hope this helps! -Kyle
@jayo4343
2 жыл бұрын
A genuine concern. Will I have trouble using a down payment by using my crypto or stock portfolio - after selling?
@marioochoa4298
4 жыл бұрын
Hi, we purchased our first home FHA and plan to eventually rent it out, we would like to go FHA for the next home but are wondering what our options are. Our family size did increase, would we meet the exception (assuming LTV is 75%)or refi to conventional then FHA for 2nd?
@WinTheHouseYouLove
4 жыл бұрын
If your family size increased (and the new home is larger to accommodate the growth) then you'll have no problem keeping your current FHA loan and using a new FHA loan.
@marioochoa4298
4 жыл бұрын
@@WinTheHouseYouLove thanks for the reply, great videos appreciate your effort
@emisuenaga5881
4 жыл бұрын
This video is helpful and your voice is soothing af, but I'm curious about the down payment assistance grant programs costing money. Can you clarify that part? If it's a grant, how does it cost you money? I did one of these programs 5 years ago and got a $15k grant toward my down payment. There were lots of stipulations, but they weren't too difficult. I had to live in the house for 5 years (if I was trying to build a real estate portfolio that would be a problem but I was just looking to buy a home for myself), and I had to do homeowner education classes (honestly very helpful), and there were a few others. But now, 5 years later, the "loan" is forgiven. Free money! ..? What am I missing?
@WinTheHouseYouLove
4 жыл бұрын
Thanks! Most down payment assistance programs I've seen have a much higher rate. And usually the cost in increased interest is greater than the assistance amount. However, all DPA programs are different and some may be exceptions to my experience. Kyle Seagraves → winthehouseyoulove.com
@Nani_Of3
2 жыл бұрын
Great video first of all as always! However my question is, taking a higher interest rate now since the rates have gone up would that still be a good idea, to lower closing cost? Thanks!
@WinTheHouseYouLove
2 жыл бұрын
Possible! You'll want to compare the long-term costs. I made a calculator that does this: www.winthehouseyoulove.com/advisor
@yasialelopez1160
3 жыл бұрын
Great video. The way you explained things. 👍🏼👍🏼👍🏼Can you elaborate on the credit towards the closing cost? Thank you.
@WinTheHouseYouLove
3 жыл бұрын
Thanks for watching! A credit reduces closing costs.
@armindersingh9519
2 жыл бұрын
Hey! I had some questions regarding the FHA loan vs Conventional. Is there a way I can email you about them? I just need a bit of guidance and I would appreciate that.
@WinTheHouseYouLove
2 жыл бұрын
Yup kyle@winthehouseyoulove.com
@AVOfutbol
3 жыл бұрын
Nice tips on taking a higher interest rate in order to get credit to pay closing costs. Thank you!
@WinTheHouseYouLove
3 жыл бұрын
Thank you so much for watching!! :)
@patrickwilliam3322
3 жыл бұрын
Question if you know - if you are a real estate agent representing yourself as the buyer, would an underwriter count your commission towards the ability to pay closing costs and down payment?
@priscillaaviles9626
3 жыл бұрын
Thank you this really helped me understand more about FHA loans and DPA which I rather not move forward with. I'm glad you broke it down regarding the FHA loan to Conventional loan. We are in the process of buying but we are taking our time. Thanks again!
@WinTheHouseYouLove
3 жыл бұрын
I hope I'll be able to help you more prepare for your loan. Thank you so much for watching.
@GarciaonlyJesus
3 жыл бұрын
I just got accepted for a loan and because my husband’s credit we got a FHA loan, we are being already checking houses but it looks so difficult to buy a house with FHA Loan when we are trying to buy it from another person, it looks like our realtor told us maybe we are going to move to new houses now since it will be more easy for us.. what do you think about it?
@WinTheHouseYouLove
3 жыл бұрын
Congrats! FHA can sometimes hard to get accepted in a competitive market like this one
@rurycastillo428
4 жыл бұрын
Thank you for all the Explanation is clear to understand so far the best video about FHA loan. I have a couple questions, if I take a FHA 30 year fix loan first time home buyer I have to live in the property for at least 1 year? I can refinance after 6 months and move out or I have to wait for the whole year to refinance and move out?. Thank you.
@WinTheHouseYouLove
4 жыл бұрын
You're welcome, and thank you! Yes, you'll need to live in the home for a year minimum.
@SuperJfuzz
3 жыл бұрын
I really like this iPad and speaking concept
@WinTheHouseYouLove
3 жыл бұрын
Thanks! Me too!
@thewednesday__
4 жыл бұрын
Hello, love your videos/Advise. My husband and i are looking to apply for an FHA loan within the next 2-3 months. However, I may have a thick skull because I dont fully understand the steps of achieving this. My question is , where do i go to apply for the FHA loan? After that and approved what is my next step? Would that be finding a real estate agent?
@WinTheHouseYouLove
4 жыл бұрын
Thank you so much!! I'd recommend reaching out to a local mortgage broker: findamortgagebroker.com/
@Sherny31
4 жыл бұрын
this video was the most informational video i ever seen in reference to buying a home. Thanks for the info
@WinTheHouseYouLove
4 жыл бұрын
Thanks so much!! I'm glad you enjoyed it!
@6mcube
3 жыл бұрын
should the gift money be in your account before the pre-approval process or is it okay if you get it during that process?
@WinTheHouseYouLove
3 жыл бұрын
It's ok to get it during the process. The sooner is better though
@proshacot
4 жыл бұрын
I've been told by a mortgage officer who works with HFA mortgages, that some states HAD offers Down Payment Assistance Grant which you doesn't need to repay if you live in a purchase house for at least 5 years. However, grants are limited.
@WinTheHouseYouLove
4 жыл бұрын
Nice! Yeah, I imagine a lot of programs are tight right now unfortunately
@candymanAM
3 жыл бұрын
Great video man didn't give many opinions just straight facts love to see it.
@WinTheHouseYouLove
3 жыл бұрын
Thanks for watching!
@Johnee944
4 жыл бұрын
Great video! Let’s say I buy with FHA 3.5% down and I get to 78% LTV within 7 years. CN I refinance to conventional?
@WinTheHouseYouLove
4 жыл бұрын
Thanks! You sure can! You can refinance to conventional whenever you want. It doesn't just have to be when you hit a certain equity mark.
@roxana_de_la_luz82
2 жыл бұрын
After FHA loan how many year to wait to refinance to a Conventional loans what about PMI ?
@Brian-ow4gh
4 жыл бұрын
That was a great video. Thank you so much. I have one question, as someone who does not know much about purchasing home. why would i refinance my home with a conventional loan after getting a great interest rate from the FHA? is it possible to get an even better rate after easily jumping through the hoops of the FHA requirements which i wouldnt be able to do with conventionals?
@WinTheHouseYouLove
4 жыл бұрын
Thanks, and thank you for watching!! FHA loans might have a lower interest rate, but they have much higher mortgage insurance that usually doesn't get removed. Kyle Seagraves → winthehouseyoulove.com
@droshi3464
4 жыл бұрын
@@WinTheHouseYouLove Ok, but if I put 10% I can avoid that MI right? also, isn't apart of the appeal of an FHA loan the locked fixed rate over 30 years? I might be confusing this with something else but don't conventional loans require you to renegotiate rates every 6-10 years? what if you happen to find yourself in a time of high-interest rates. And by putting 10% not only do you avoiding the MI but you start off with more equity and are better protected, right? I'm new to this stuff and still trying to figure it out, thank you for the video and for engaging in the comments both were very helpful.
@Chris.McCarthy
4 жыл бұрын
Fantastic video, I learned something new! Would you still recommend working the down payment into the interest rate with a B.R.R.R.R strategy or a pyramiding up strategy? I'm planning on living in a triplex for 2-3 yrs. and most likely will sell and 1031 into a bigger property with another FHA.
@WinTheHouseYouLove
4 жыл бұрын
Thanks! What do you mean by working the down payment into the interest rate?
@Chris.McCarthy
4 жыл бұрын
@@WinTheHouseYouLove Having a higher interest rate in exchange for not paying the closing costs upfront (The final point you discussed in this video).
@JustJenn00
4 жыл бұрын
What percent are closing costs for FHA? Are they usually 6% or less?
@WinTheHouseYouLove
4 жыл бұрын
There isn't a set percentage. The national average is between 2-5% of the purchase price
@JustJenn00
4 жыл бұрын
@@WinTheHouseYouLove ok Thank you, I am currently working with a broker, and we are going for a USDA loan but the market is crazy right now, Ive been looking for 8 months, put in several offers with no luck, I was going to try an FHA to open up the area i can look in but my broker is against it, he pushes the USDA, but hes telling me I need 6% closing costs PLUS 3.5% down.
@teniechac9556
4 жыл бұрын
This is interesting. You're suggesting that people be able to refi in less than/about 1 year? How can they build enough equity to do that?
@WinTheHouseYouLove
4 жыл бұрын
You can do an FHA streamline without needing any equity change or refinancing into a conventional only requires 5% equity
@natashadwyer8336
4 жыл бұрын
Really great video: good info, soothing voice and easy to digest info. I appreciate that. If you qualify for 3.5%, but put down 8% you won’t have mortgage insurance for the entire loan?
@WinTheHouseYouLove
4 жыл бұрын
Thanks so much! Mortgage insurance will drop off after 11 years if you put 10% or more down on FHA.
@trae74
4 жыл бұрын
@@WinTheHouseYouLove and you can't refinance until after that right?
@ianhopkins910
4 жыл бұрын
I hope you see this comment , Is there a limit in the amount a FHA lone will go up to?? An how long do you have to be in your FHA before you can refinance?
@WinTheHouseYouLove
4 жыл бұрын
There is, FHA has a max loan limit of $331,760 for most counties. Technically, there is no minimum before you can refinance.
@ianhopkins910
4 жыл бұрын
Thank you for the information!!
@JeanDagobert
4 жыл бұрын
Thank you for getting into the meet and the bones of FHA!
@WinTheHouseYouLove
4 жыл бұрын
You bet! Thanks for watching!
@GraphyteTV
3 жыл бұрын
Thanks for this. I’m looking to buy next year
@WinTheHouseYouLove
3 жыл бұрын
Glad I could help!
@scarface11385
3 жыл бұрын
I check online but I just wanna be sure , can I save money at home and use that for my down payment?
@WinTheHouseYouLove
3 жыл бұрын
Cash on hand is incredibly difficult to use on a loan
@scarface11385
3 жыл бұрын
@@WinTheHouseYouLove on my bank statement you can actually see how much I’m withdrawing 1k , etc I just don’t wanna have the money in my bank .
@alphaeta53
4 жыл бұрын
Thank you so much for getting to the point. I am definitely going to ask my lender to bump interest rate to get a credit. Would you happen to know any programs that benefit teachers?
@WinTheHouseYouLove
4 жыл бұрын
Sure thing! There are some down payment assistance programs for teacher I think, but I'm not quite sure.
@alphaeta53
4 жыл бұрын
Hey! Thanks for the reply. I have the 3.5% for the down. I just need a little help with the closing costs. So, definitely going to take your advice. Keep up the great work! I just subbed to your channel. 😺
@CieloJanet
4 жыл бұрын
WOW you are too cool. Thank you for being so informative & involved with your viewers! Means more than you know. What are all the social media handles we can follow you at? Or is it just your website?
@WinTheHouseYouLove
4 жыл бұрын
Thanks! I'm glad to help! Right now, I don't have social media. Maybe in the future :)
@scottcrichton6508
3 жыл бұрын
When you say ask the lender to pay for closing costs in agreement to increasing the interest from 3.5 to 5.0, is that including the down payment as well? Great informative video btw!
@WinTheHouseYouLove
3 жыл бұрын
Just the closing costs :)
@t2tl87
4 жыл бұрын
We are interested in buying a home within the next year, we are currently renting. We have good credit scores, 680+. We also have enough for a down payment to get a conventional loan if we sell our stocks. I was thinking that the amount of money the stocks make on average in a given year may be more than the difference between the costs of an FHA and conventional loan. Would it make sense to go with an FHA loan for the beginning of our loan and then refinance into a conventional loan or would it make more sense to go with the conventional right off the bat?
@WinTheHouseYouLove
4 жыл бұрын
You definitely could! Keep in mind that conventional loans actually have a lower down payment for first-time buyers than FHA loans. Conventional is 3% down and FHA is 3.5% down. So it might be better to go conventional. Kyle Seagraves → winthehouseyoulove.com
@keilaxo
4 жыл бұрын
If I qualify for FHA loan, just me.. can I refinance later and add a coborrower to a conventional?
@WinTheHouseYouLove
4 жыл бұрын
You absolutely can :)
@quelokradioshow2340
4 жыл бұрын
very informative and straight to the point. I’m looking into buying a 3 family property with a fha loan so I’m thinking the 3.5 down payment would be good for me eventually I’ll move out and my plan is to have a big portfolio of rental properties what do you think?
@WinTheHouseYouLove
4 жыл бұрын
Glad to help! I think that's a solid plan! Look into a strategy called "house hacking"
@quelokradioshow2340
4 жыл бұрын
Win The House You Love thank you 🙏🏽
3 жыл бұрын
When refi into a conventional, say, after 4yrs, would I still need a massive 20% down? That's what's kind of keeping me at bay as someone with an AGI of only 38,700/yr :/ The 5% interest to make that credit does look appealing though! I didn't know this before, thanks!
@RebeccaPierce
4 жыл бұрын
I have a 26 years left on my mortgage (coming up on 4 years in the home). I have been paying an extra 100 a month on my mortgage. My credit score went up from 650 to 800. First time home buyer FHA loan 3.5 interest rate. I can afford another 200 a month to pay off mortgage. Should I just pay the extra toward the principle or refinance because I want to pay off in 10/15 years. I'm 60 years old. I want to own my home in 10 years.
@WinTheHouseYouLove
4 жыл бұрын
Awesome! Personally, I'd refinance it into a conventional 15 year mortgage. You'll save money on mortgage insurance and you should be able to get an interest rate in the low 3% range.
@otoyin7914
2 жыл бұрын
You literally just saved me. Am less than two months to closing on a new construction,we had decided to use fha and state housing for down payment but suddenly the down payment program says I made too much money. Now I have to come up with 3.5 percent in less than 2 month,my loan agent is as confused as a mf and your idea about a secured loan is literally the only way am able to save this deal cos my car is paid off n am taking a loan against that. Thank you and thank you and thank you so much
@tomcasey7784
4 жыл бұрын
"No such thing as free money" lol... Must have been before mid-March 😂😂
@WinTheHouseYouLove
4 жыл бұрын
😂 I did not foresee a pandemic and stimulus money
@lorenzodiaz5988
2 жыл бұрын
Are the the person who wrote these documents u made it so easy to understand my lender say a bunch up stuff I really dont understand 🤣💯thanks
@WinTheHouseYouLove
2 жыл бұрын
I know, jargon and some other stuff. Thanks for watching. :)
@moniquebrown6908
4 жыл бұрын
This was so informative. I’m in this process right now and can only qualify for an FHA loan but at least now I know what I need to do to refinance with a conventional loan
@WinTheHouseYouLove
4 жыл бұрын
I'm so glad it was helpful!
@angelawalkerrealtor4229
3 жыл бұрын
Hi Kyle, can you please advise on how does the bank determine how much of a loan you can qualify for? Thank you
@WinTheHouseYouLove
3 жыл бұрын
This should help → kzitem.info/news/bejne/sWiGxYymg32EdYI
@brandonmiller994
4 жыл бұрын
Very clear and through!!! Thank you for taking the time to make this!
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