Nice video but there are many things I agree with and many that I don’t agree: -UWM is offering a program and they are really helping people so there is no need to judge them at least they are offering a something while our government doesn’t. -As as lender we have strict guidelines so we can’t approve someone who can’t make the payment max they can afford is about 40% of they group monthly payment including debt and most people are ok with that. -There are people who really needs downpayment assistance -at the end of the video now you are selling your viewers offering to teach them how to buy out of the state of California and that is a great strategy but you are not telling them that they will need 20% or more downpayment+closing cost, also you are not telling them that cash flow with this interest rate, cost of material up and more is possible but super hard to get now, so please tell me HOW ARE YOU ARE DIFFERENT FROM THE LENDER THAT YOU ARE JUDGING? My advice is to always consult with an industry expert and license who has to follow rules and who study, thank you for the video was really entertaining.
I’m simply giving my point of view. I never said people should not use this program. I gave fair warnings and encouraged folks to understand what you’re agreeing to. At the end of the day each person must do what’s best for them. Thanks for sharing your opinion and I’m sure you are looking out for the best interest of your clients!
The problem is the lack of financial literacy amongst our people and a lot of others but focusing on black communities. Instead of these banks preying on us, they should offer financial literacy classes to help folks save and jnvest in the stock market. Naturally create the money to make a down-payment which will provide a senss of confidence and a start on building generational wealth.
A storm is brewing… 1. They are extending the maturity dates on commercial loans from 24 to 25. 2. We are going to have an over supply of housing in a few years. 3. And more loan programs like this will be created and incentivized from the government, banks, etc. If you can save & wait it out, the end of the decade will be interesting to say the least. And if you got $100k, try to invest in a hedge fund & bet against the US housing market like the movie “The Big Short”.
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2nd mortgages equals lots of foreclosures especially if you don’t have the means of support the mortgage.
Yep that’s definitely a possibility. I don’t think this makes sense for the majority of people
Nice video but there are many things I agree with and many that I don’t agree:
-UWM is offering a program and they are really helping people so there is no need to judge them at least they are offering a something while our government doesn’t.
-As as lender we have strict guidelines so we can’t approve someone who can’t make the payment max they can afford is about 40% of they group monthly payment including debt and most people are ok with that.
-There are people who really needs downpayment assistance
-at the end of the video now you are selling your viewers offering to teach them how to buy out of the state of California and that is a great strategy but you are not telling them that they will need 20% or more downpayment+closing cost, also you are not telling them that cash flow with this interest rate, cost of material up and more is possible but super hard to get now, so please tell me
HOW ARE YOU ARE DIFFERENT FROM THE LENDER THAT YOU ARE JUDGING?
My advice is to always consult with an industry expert and license who has to follow rules and who study, thank you for the video was really entertaining.
I’m simply giving my point of view. I never said people should not use this program. I gave fair warnings and encouraged folks to understand what you’re agreeing to. At the end of the day each person must do what’s best for them. Thanks for sharing your opinion and I’m sure you are looking out for the best interest of your clients!
Im glad you told the truth about this program.
Thanks!
So it’s probably high interest?
My understanding is that interest rate won’t necessarily be different than a conventional loan
The problem is the lack of financial literacy amongst our people and a lot of others but focusing on black communities. Instead of these banks preying on us, they should offer financial literacy classes to help folks save and jnvest in the stock market. Naturally create the money to make a down-payment which will provide a senss of confidence and a start on building generational wealth.
I understand where you’re coming from however I think we should educated our own community the best we can 💪🏾
@@blackrealestatedialogue Facts!!!
What bout yur credit score
Keep watching I explain that
620 credit score
The so-called new program is 2008 all over again
I believe he meant with the for first time home buyer grants
A storm is brewing…
1. They are extending the maturity dates on commercial loans from 24 to 25.
2. We are going to have an over supply of housing in a few years.
3. And more loan programs like this will be created and incentivized from the government, banks, etc.
If you can save & wait it out, the end of the decade will be interesting to say the least. And if you got $100k, try to invest in a hedge fund & bet against the US housing market like the movie “The Big Short”.
Very interesting points you’ve made, thanks for sharing!