How to get pre-approved for a mortgage
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- เผยแพร่เมื่อ 2 ต.ค. 2024
- Dream of buying a house someday? Andini, a Forbes ‘30 Under 30’ breaks down all the basics with a NYC real estate agent.
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In today's economy, buying a home may seem increasingly challenging due to rising prices and housing shortages. However, it remains a feasible and wise investment, particularly when compared to renting.
This episode of “Your World on Money” explores how to attain homeownership in the modern age. To improve your chances of obtaining a mortgage loan, focus on building a solid credit score, maintaining a steady employment record, and saving for a substantial down payment. These factors will help secure favorable loan terms and lower interest rates.
Homeownership doesn’t need to be a goal for everyone. But it can offer long-term benefits, including tax benefits, financial stability, investment opportunities, and the ability to personalize your space.
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We created this video in partnership with @MillionStoriesMedia.
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What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Ann Makosinski, a person that comes from a rich family that cruised through life, telling poor people how easy it is to buy a home.
Poor people become wealthy by purchasing real estate. You aren't around when homeowners save money, delay gratification, and pay bills on time to maintain excellent credit. You just see the outcome of their determination, hardwork, and effort. Why not learn something from people and apply it to your own life? By learning from others, you too can become a proud homeowner!
@@artisanhome8980 This was true pre-pandemic. But when house prices rise over 150% in just five short years and rent is raised by over $500 at each new lease signing, and moving from one apartment to another costs $2000+, with wages staying mostly the same as they were, there's no amount of saving and only eating rice and beans that will help keep up with this kind of inflation.
When mobile homes cost $150,000 but first time home buyers can't get an FHA loan for one because it's not on a permanent foundation but it's the only affordable option, we have a problem, Houston.
"Just move" doesn't work, either, because that costs money, too, and will just keep causing smaller communities to skyrocket their housing prices because of the influx of people being out-priced by others doing the same thing by "just moving" to their previous area, causing the housing market and COL to rise significantly...rinsing and repeating the vicious cycle until there are no more affordable areas anywhere for anyone to live in.
propaganda brought to you by the you will own nothing and you will be happy thinktankgang
Is this video for middle school students?
Rich American middle scholers to be specific
Not like they teach this in school anyway
🤣
Speak to any qualified and licensed financial advisor and they will tell you to never consider your primary home as an "investment" and that the decision to buy vs rent a domicile is not related to the potential gains on the home's value.
Way to go, you made a fluff piece for the real estate business instead of an education piece that should free us up to think...this is just a one-sided propaganda piece...🤦🏾♂️
If you are looking to make investment returns, invest the down payment (5-30+% of the home price), the monthly surplus between rental and ownership costs (yes, renting is almost always cheaper and ownership costs more than the mortgage - you have taxes, daily and monthly and yearly maintenance expenses, etc), and the periodic improvement expenses (leaks, new water heaters all the way to new kitchen/bath/etc) into an index fund for the duration of the mortgage period and you are almost always guaranteed to make more money on that real liquid investment than you ever will on the house "investment"...
A house is an illiquid asset - you may build a lot of equity in it over time but its not easy or cheap to access directly or indirectly.
This is not to say never buy a house, but rather never consider it an investment...there are many reasons to buy a house...homes and the wealth we tie up in it are safety nets for when we arent young and makign a lot of monthly income. They store wealth in a relative safe (over the very long term) investment grade asset and given our tax regiment in the US, we get many tax benefits to this wealth sink being a house vs a true investment. Homes also are a great way to differ current taxable activity into a future where you are hopefully making less
This video coudl have been so much more - but rather its a fluff piece with no context or nuance...a high schooler coudl have put out better content...
Theres way too many people that live life where their family cannot afford lending or giving them money for a house. This video seems so out of touch and focuses way too much on it being an "investment".
Its funny how homeless america is. Not even allowed to build a house out of mud. That would probably be illegal.
big propaganda vibes off this one, eesh
so has black rock brought out freethink?
Funny enough, the channel 2 cents just published a video almost at the same time with data that remodeling isn't an investment. 2:46
In my country, having access to a home (buying or renting) is supposedly a right, but no way to enforce it. Those with means buy, those without are stuck on a waiting list (unless they earn too much, then they're pretty much skrewed). As a kid I believed I couls buy a house after getting a degree and landing a job. Now, I'm saving for a van so I'll have a place to sleep in case the landlord hiles the rent up too high.
This is the worst video on TH-cam. No cap
1:11
that's the neat part; you don't.
Every long journey begins with a single step.
u should come to the point of the video in under 10 seconds. the subject is not even talked about till 1/2 of the video
Andini's becoming a fashion influencer
Yet there where peole getting loans for homes that cost 1.4 mil... On a mcdonalds salary not the ceo salary either.(Housing bubble) Who wants to do something that translates to. (unto the death) If your getting a loan do it to make my money work for me. Not bog me down with interest rates.
Why does most anyone care what a home costs in NYC?
This video doesn't mention _anything_ about having earnest money set aside for the purchasing part of buying a home or how to deal with corporations and LLCs offering tens of thousands of dollars over the asking price while waiving a house inspection.
Simplified: ( I acquired 5 rentals in 2 years)
1. Have/make up 2 years tax returns (ie cash only handyman business).
2. Have 3% of the purchase price.
3. Have or take 6-12 months to build to a 580 credit score.
4. Getting a house is cheap and easy. Millennials (me) have been sold a lie.
So how do you like the landlord situation, juggling all those To-Do Lists ? Is there Real Wealth to you? Or the bankers still make more than you, via interest paid ? I’d honestly like to know
And, where can I get a home on a credit score of 580 ?
@@krisg3984 he meant 850 lol
dont pay at all, produce your own energy, why would you be in any debt to people
hey, try floating balloon wavt shaped wind turbine on a pipe axle to ground generator (both solar and wind large balloon collector, similar to a heat pump field but in a simple hot air plastic balloon, feed starter hot air up the pipe, have a second pipe to extract cold/hot air down), you get the idea, can use even a car charger as the pipe axle down generator, 4-point tether if you want the balloon to stay absolutely upright and not wonder around, public domain no restrictions no royalties no obligations anyone can use. only has a simple air/heat pump (like a water pump) in the up-down 2x pipes, can be combined with a heat pump which is down at ground. the size advantage as a simple balloon, no construction required, only the ground mounting of the generator pipe axle tether point, like putting a flag pole in place, the anchor
lots of false information in this.
Be sure to eat your vegetables
Or…. How not to fall into that trap?
Rent is more of a trap
Home ownership is not investment, it's a human right.