I close on my first house this Friday, and I just want to thank you for guiding me on this new journey! I will be watching your videos even after buying 😉👍🏻
Javi you rock! Thanks for teaching everyone how to budge and plan for a mortgage. I'll be recommending your channel to friends who are thinking of buying a house.
Lived in Texas and moved to Seattle. Maybe ppl say I'm crazy. But basically the monthly payment for a 400k house in Texas is the same as the payment for a 600k in Seattle due to the property tax....I don't think $7000 for a house of 400k is correct, it is more like at least 10k a year (up to 15k) coz the property tax rate is starting at 2.5% (up to 4%). And the county assesses the value of the home every year. the estimate is between the loan appeal and around house value.
I live in the Dallas area. When I owned a 430k home, the property tax was around 7k per year. It does vary per county, 3 or 4%? I never seen that lol! As for Seattle, you are definitely exaggerating that you can get a 600k home up the and pay the same as a 400k home in Texas lol! Even if the numbers worked out t like that, your probably comparing 1200 sq Ft in Seattle vs 2500 to 3k sq Ft I’m Texas.
@@Aggie4life77 search for Pearland, sugarland, woodland. I don’t live in the Seattle city lol. I’m in the northern area. But I do regret I didn’t buy a house a bit bigger. Also I moved to seattle for the job opportunity and the beautiful scenery. I don’t mind pay more coz my salary has double :)
I from NC and live in Texas. Between what you do pay in property taxes there and having state income tax, how much are you really saving? On our previous home in metro Dallas, it was 430k with a yearly property tax of around 7k. Our income at the time was around 150k. I’m North Carolina, your state income tax on that salary alone would be around 6,700 per year and then you would have to add property taxes on top of that at around 3k. You would be paying more up there! Even if your income up there is 75k, you’re still paying $3300 a year in income tax! As for housing prices, I was just in Charlotte on business a month ago and I’m from Greensboro. Home prices are no cheaper up there!
Great Video Javier! The average tax rate in Houston is around 2.2 and 2.5. If you go North of Houston, the tax rates can range between 1.9 in Montgomery county, around The Woodlands, all the way to 3.8 in the Cypress area. Keep up the good work brother!
I'm a LO. The 788 credit score does not hurt, 760 is pretty much the cutoff for getting the best rate with most lenders so the 788 and 812 would be the same rate and lender credit. And FHA doesn't necessarily get a bad rap, it's more stringent on the appraisal requirements for peeling paint and hand rails so more chance of required seller repairs which makes it not as strong.
Florida has no protest tax and my $500,000 purchased in 2007 I still only pay 4,000 in taxes even thought the home is worth $700,000 now. Texas prop tax is insane!
@@godschosen1213 it may not be a was, but when you factor in that in another state you will pay some level of property tax combined with state income tax coming out your check, the cost isn’t as far off as your trying to make it seem! We’re talking maybe a $1000 difference per year. Somebody in NC making 75k will pay about $3300 in state income tax per year. A 400k home in NC is a bit over 3k. Right there is roughly $6300 and that’s for a $75k salary. Put that salary at $150k per year and your state income tax alone is 6700k in NC and then you will need to add the 3k property tax on that. As for property tax in Texas on a 400k home, in most cases it’s around 7k to 7.5k. I use to own a 430k home in metro Dallas and the property tax was around that. For all intents and purposes, it’s a wash and the higher your income, you actually pay more in states that charge state income tax! When you retire, just move!
Hi Javier. I purchased your spreadsheet and I wanted to know if the "What You Can Afford" amounts include taxes, PMI, home owner insurance, etc. or is the amount just principal & interest. Moving to TX and taxes need to be accounted for. Thanks in advance!
Definitely right before edit. 600 to 680 month pretty typical or more 300 to 400K homes. I backed out of that market because of that. I was going all cash to payoff next home. I don't need a 700 month tax bill. Like a house payment from the 90's 😆
Yes taxes suck in Texas we left Az in 2017 and moved here for my husbands job uggh I hated it for the longest I tolerate it now, man I wish we could have stayed in Az we’re originally from Philly so Az was a new and incredible experience. I loved living in Az I can’t wait to visit soon
Looks like nobody's gonna mention if a house is listed at 400k then in current market it will get at least several offers over 410k, which means to win that house, you are looking at minimum 420k offer price and this could be very conservative offer based on the area. If this was not bad news enough, also think of appraisal contingency. If the appraisal comes at 400k or even lower your offer price, you are looking to make up that difference out of your pocket or drop the deal. Often your offer will not be even accepted because your appraisal difference guaranties are not high enough. So to make a wining offer on a 400k house with 50k savings money, you have to reserve 10k for closing, 20k for appraisal difference and then you are left with 20k for down payment. This doesn't give you any option to choose anything other than 5% down payment which leads to more or less 100 dollar extra payment for PMI. On top of that, you have the tax adjustment. If the last year tax was 7000 dollar, then add another 1000 dollar tax increase (ironic how low and middle class people are on the verge of systematically being taxed out of the their home in the land of the free). So at the end, you payments going to look like this: Principal and Interest: $1770 (5% of 400k down payment + 380k borrowed at 3.8% rate) PMI: $100 (approximate, but close) Home insurance: lets say $120 (could be wildly greater depending on the area, use the average number in your state to get closer) Property Tax: $670 ($8000 annually) Total: $2660 This is a minimum total even with conservative numbers. Edit: Cost at closing will be 10k for closing + 5% down payment of financed value or 20k here + appraisal difference you agree to make up during the offer or another 20k here. Therefore, total expense at closing is 50k give or take, this number is pretty solid except the wiggle room in 10k closing costs. Can you afford it? Going by 30% rule, if 2700$ is 30% of your monthly income, or if your salary is 9k per month, then you can happily afford this. If you have other loans, debts or monthly recurring payments, add those to this and see if you are still around this number. If your payments are more than 40% of your income, this starts going out of your affordability comfort zone which is not financially healthy for long term. For someone who earns 14k a month but only managed to save 50k for a house in this market, it can be safely assumed the cost of living in that area is substantially high.
by the way in texas by law you dont have to send your purchase price info to the county, so you wont have to pay an unreasonable raise on your property taxes
Our combined income is in that ballpark, however our DTI is causing us to use FHA, so our monthly payments will be in the "just right" category lol thanks for the breakdown!
This should be a wake up call to anyone who still thinks Texas is cheap. Housing has gone up so high in our cities for locals, but for transplants it's cheap enough.......until taxes and insurance hit. If you're in a flood zone, expect high insurance.
You have an income of 170k a year, you have excellent credit, you have 50k in savings AND an emergency fund? Why are you tripping about affording a 400k house?
Taxes in Texas are really high and especially if they are first time buyers, it’s a scary process. Even more so right now with prices being at an a time high. Hearing Javier talk through the process and explain why they are in a good spot is still helpful to those that aren’t there.
Those number for taxes are correct in Texas. No state tax so they shaft us in property taxes. Property taxes, where I live in Texas, are stupid high. 8500 dollars in property tax for a 2250sqft house.
This housing market is so depressing. We're ready to buy, financially sound, found a house that was a great fit for us that had been sitting on the market two weeks, made an offer the seller allegedly "loved," and then a cash buyer swooped it and took it. It feels hopeless.
The problem is that you can’t look at the actual listing price and base your offer on that. If a 400k home is what your max is, look at listings in the 300k to 350k range. And expect to pay 50k to 100k over! If your willing to wait, the recession my help you to buy a home at listing price.
This situation is very similar to ours. The only difference is that we bought a 425k house. The housing monthly payment is still less than 25% of what we bring home. Thanks for the video Javier. New subscriber though 😀
I would go with the safe or really safe. The reason being is that a lot of people may want a car one day, have kids, travel, etc. you don’t want your house to get in the way of that!
What are the prepaids on a loan estimate? Is that on just fha or conventional as well? My loan officer sent me an estimate that jsut seems insanely high for our new build.
If you have 740+ FICO, mortgage companies (including Fannie and Freddie) don't care. Even if you have 700+ it's good enough to not worry with the pricing hits for Fico
Great video love the concept. I live in Chicago paid 500,000 for my home back in 2008 my texts are close to $40,000 a year. So don’t tell me about Houston
Horrible state that doesn't protect its citizens, so the insurance is higher due to the risk, same in Texas, the states ignores laws in place to protect people and property to save money passing the bill onto citizens
Javier, My husband and I are looking to purchase a house; however, we are being indecisive. We want to know if we are able to determine how much would be the total pre-approval that we would qualify for without going to a lender and getting our credit pulled. Is there a formula that lenders use to check how much the pre-approval is.? Just so that we don’t go in with high hopes thinking that we will get approved high enough and end up disappointment. Can you help me.?
Javier, is it possible to buy down points on the interest? If so, how exactly does that work as far as costs and how low you can drop the APR? Great content and thanks in advance.
@Rachel Sheldon are you buying 1 point for 4k or is 4k per every 0.25? Also, for reference, what is the purchase price of your home or the amount you’re actually financing? I want to get a rough estimate since I am currently in the house market too. Thanks in advance
@@jtowensbyiii6018 ya thanks for California prop 13. Property taxes based on purchase price and can only increase 2% max per year. But technically I am paying 2.1k for a 900k home because my home is worth 900k. I can easily sell it now for that much or more with how crazy the market is right now.
Hello , big fan of the channel I've been binge-watching some of the videos for the pass weeks. I have a question if you are able to answer... Is there such a thing as a buyers agent and a sellers agent?
Does a bank pre approval expire? If you keep getting out bidded and it can possibly take months for you to win a bid, do you have to be pre approved again? Also with each pre approval, is your credit score taking a hit each time?
For property taxes in Texas, remember we don’t have state income tax. With that the more money you make, the more money you save vs a state that has state income tax!
Hey Javier me and y fiancé are looking to buy a home in Salinas California and we both take home between $150,000 to $158,000per year how much would we have to put down and we are first time buyers and our credit rating is between 710 and 770. What can we afford and thank you for your videos we are learning a lot.
I’m no agent but I assume you guys can easily afford a $500-800k property. That’s a 2-3 bedroom 1-2 bath home in some parts of the Bay Area, idk much about Salinas. Good luck!
I can afford 300k home at 1/3 that, so trippling those numbers you can likely afford 700-800k , use first time home buyer 3-5% unless you have a lot of extra money upfront
I used to live in TX, and the property taxes are so high because they don’t have state income tax. They still have to get their money, ya know? $$$ (it was okay with me as a non-homeowner)
@@JavyVidana yes they are that’s why we’re doing usda and going rural thankfully my husband’s hospital is close to several rural areas that still can keep us central and we want to get in a new build community first phase
Houston Texas area is way different than Houston Texas. We have a house down here in the suburbs that blows all those inner-city/inner loop m************ away lolz
I agree… lol people love talking about how “cheap” Florida is?! I always go huh? When it comes to to Florida… you might as well double your projected taxes to calculate your insurance… and then some… Zillow “estimates” are a joke. It’s very common for people here in south Florida to pay 7k+ in taxes…. And another 7k+ in insurance… a lot of house poor folks around here 😅
MAKE THIS A SERIES!!!
Done
Yesssss!!!! Love real life budgets!
@@JavyVidana no seriously ! this is great content. this will make your channel blow up even more. keep up the great work.
I totally agree! Especially in this current housing situation!
Can you determine my monthly income for me
I close on my first house this Friday, and I just want to thank you for guiding me on this new journey! I will be watching your videos even after buying 😉👍🏻
No income tax in TX, so property tax is where they get their revenue.
Or u go to a state like IL where u have high income tax and one of the highest property taxes lol. Glad I left that shithole.
Population in cali is higher than in Texas
And cali is a lot smaller than Texas not everyone in cali is a property owner.
@@Bseriesjess Property taxes are baked into rent.
@@D2O2 I know I live in texas 🤣
I really love these types of videos
Helps with my own home buying plans
Glad you liked it :)
Can't stop watching your videos even after we bought a house.
Same here....we bough our first starter house 4 months ago...I'm still watching to learn more for our next purchase.
My parents have 350k in Houston and they pay 11k a year in property taxes
Javi you rock! Thanks for teaching everyone how to budge and plan for a mortgage. I'll be recommending your channel to friends who are thinking of buying a house.
I bought my house in Houston last year. PP= 260k and closing cost was 9k even w/ 3k sellers credit
Lived in Texas and moved to Seattle. Maybe ppl say I'm crazy. But basically the monthly payment for a 400k house in Texas is the same as the payment for a 600k in Seattle due to the property tax....I don't think $7000 for a house of 400k is correct, it is more like at least 10k a year (up to 15k) coz the property tax rate is starting at 2.5% (up to 4%). And the county assesses the value of the home every year. the estimate is between the loan appeal and around house value.
Are the schools good?
@@yourfavnurseb9699 property tax around 3~4% has better school in Houston. Check out sugar land, Pearland, woodland,
I live in the Dallas area. When I owned a 430k home, the property tax was around 7k per year. It does vary per county, 3 or 4%? I never seen that lol! As for Seattle, you are definitely exaggerating that you can get a 600k home up the and pay the same as a 400k home in Texas lol! Even if the numbers worked out t like that, your probably comparing 1200 sq Ft in Seattle vs 2500 to 3k sq Ft I’m Texas.
@@Aggie4life77 search for Pearland, sugarland, woodland. I don’t live in the Seattle city lol. I’m in the northern area. But I do regret I didn’t buy a house a bit bigger. Also I moved to seattle for the job opportunity and the beautiful scenery. I don’t mind pay more coz my salary has double :)
@@yourfavnurseb9699 for 3-4% property tax rate, they are definitely good schools!!
Yep we decided to move to NC instead of Houston. Taxes are crazy!
I from NC and live in Texas. Between what you do pay in property taxes there and having state income tax, how much are you really saving? On our previous home in metro Dallas, it was 430k with a yearly property tax of around 7k. Our income at the time was around 150k. I’m North Carolina, your state income tax on that salary alone would be around 6,700 per year and then you would have to add property taxes on top of that at around 3k. You would be paying more up there! Even if your income up there is 75k, you’re still paying $3300 a year in income tax! As for housing prices, I was just in Charlotte on business a month ago and I’m from Greensboro. Home prices are no cheaper up there!
My favorite part of your videos is the relaxing video game music in the background 😄
Great Video Javier! The average tax rate in Houston is around 2.2 and 2.5. If you go North of Houston, the tax rates can range between 1.9 in Montgomery county, around The Woodlands, all the way to 3.8 in the Cypress area. Keep up the good work brother!
I'm a LO. The 788 credit score does not hurt, 760 is pretty much the cutoff for getting the best rate with most lenders so the 788 and 812 would be the same rate and lender credit. And FHA doesn't necessarily get a bad rap, it's more stringent on the appraisal requirements for peeling paint and hand rails so more chance of required seller repairs which makes it not as strong.
How much will it hurt us if I switched from a w2 to a 1099 position .stilll at the same company and get consistent checks every week.
Property taxes are high in Texas because there is no state income tax.
Do you think it balances out?
@@mssha1980 heck no it doesn’t. I grew up I. Philly lived in TN, AZ and now Texas heck no
Florida has no protest tax and my $500,000 purchased in 2007 I still only pay 4,000 in taxes even thought the home is worth $700,000 now. Texas prop tax is insane!
@@truthlove1114 Florida is widely considered one of the worst places in the country to live so that's not a good comparison
@@godschosen1213 it may not be a was, but when you factor in that in another state you will pay some level of property tax combined with state income tax coming out your check, the cost isn’t as far off as your trying to make it seem! We’re talking maybe a $1000 difference per year. Somebody in NC making 75k will pay about $3300 in state income tax per year. A 400k home in NC is a bit over 3k. Right there is roughly $6300 and that’s for a $75k salary. Put that salary at $150k per year and your state income tax alone is 6700k in NC and then you will need to add the 3k property tax on that. As for property tax in Texas on a 400k home, in most cases it’s around 7k to 7.5k. I use to own a 430k home in metro Dallas and the property tax was around that. For all intents and purposes, it’s a wash and the higher your income, you actually pay more in states that charge state income tax! When you retire, just move!
I remember when a customer of ours mortgage went from 950 to 1450 due to property taxes.. hurts to live in Texas.
No PMI accounted for 8n this calculator. Prob tack on another $200 to payment
This couple def just sent you an email to flex. They know damn well their set up perfectly fine. Happy for them!
Ok im glad i waited til the end for the "vatos locos forever" lol. So true grew up in tx and we all saw that movie....multiple times.
Hi Javier. I purchased your spreadsheet and I wanted to know if the "What You Can Afford" amounts include taxes, PMI, home owner insurance, etc. or is the amount just principal & interest. Moving to TX and taxes need to be accounted for. Thanks in advance!
I appreciate you ese 😎
Property tax is higher in Texas because we don’t have a state income tax 🤷🏽♂️ you gotta get it from somewhere
Thanks for the video Javier!
Thank you for the spreadsheet!!!
Definitely right before edit. 600 to 680 month pretty typical or more 300 to 400K homes. I backed out of that market because of that. I was going all cash to payoff next home. I don't need a 700 month tax bill. Like a house payment from the 90's 😆
NJ is worse with the taxes 😑 I need to leave soon!
That’s insane. 700$ a month just for taxes!
Its why houses in TX were cheaper. Outrageous property taxes
Yes taxes suck in Texas we left Az in 2017 and moved here for my husbands job uggh I hated it for the longest I tolerate it now, man I wish we could have stayed in Az we’re originally from Philly so Az was a new and incredible experience. I loved living in Az I can’t wait to visit soon
@@godschosen1213 how did you deal with the heat?
Thank you for making the spreadsheet
Hey where do you access the spreadsheet?
@@Stromboli88 click on the link in the description
Coming from a math tutor, I’m honored.
Looks like nobody's gonna mention if a house is listed at 400k then in current market it will get at least several offers over 410k, which means to win that house, you are looking at minimum 420k offer price and this could be very conservative offer based on the area.
If this was not bad news enough, also think of appraisal contingency.
If the appraisal comes at 400k or even lower your offer price, you are looking to make up that difference out of your pocket or drop the deal.
Often your offer will not be even accepted because your appraisal difference guaranties are not high enough.
So to make a wining offer on a 400k house with 50k savings money, you have to reserve 10k for closing, 20k for appraisal difference and then you are left with 20k for down payment.
This doesn't give you any option to choose anything other than 5% down payment which leads to more or less 100 dollar extra payment for PMI.
On top of that, you have the tax adjustment.
If the last year tax was 7000 dollar, then add another 1000 dollar tax increase (ironic how low and middle class people are on the verge of systematically being taxed out of the their home in the land of the free).
So at the end, you payments going to look like this:
Principal and Interest: $1770 (5% of 400k down payment + 380k borrowed at 3.8% rate)
PMI: $100 (approximate, but close)
Home insurance: lets say $120 (could be wildly greater depending on the area, use the average number in your state to get closer)
Property Tax: $670 ($8000 annually)
Total: $2660 This is a minimum total even with conservative numbers.
Edit:
Cost at closing will be 10k for closing + 5% down payment of financed value or 20k here + appraisal difference you agree to make up during the offer or another 20k here.
Therefore, total expense at closing is 50k give or take, this number is pretty solid except the wiggle room in 10k closing costs.
Can you afford it?
Going by 30% rule, if 2700$ is 30% of your monthly income, or if your salary is 9k per month, then you can happily afford this.
If you have other loans, debts or monthly recurring payments, add those to this and see if you are still around this number.
If your payments are more than 40% of your income, this starts going out of your affordability comfort zone which is not financially healthy for long term.
For someone who earns 14k a month but only managed to save 50k for a house in this market, it can be safely assumed the cost of living in that area is substantially high.
by the way in texas by law you dont have to send your purchase price info to the county, so you wont have to pay an unreasonable raise on your property taxes
Our combined income is in that ballpark, however our DTI is causing us to use FHA, so our monthly payments will be in the "just right" category lol thanks for the breakdown!
Simon! Juntos pero no revueltos 😁
I like the undertale jazz theme in the background.
So why is zillow tool trash? are values wrong? Is there a better sight?
I'm an adult 🙋♂️
I'll be sending an email with some details to help provide you with some content for this very informative series!
🤙
Love this new series.
Love these videos!
This should be a wake up call to anyone who still thinks Texas is cheap. Housing has gone up so high in our cities for locals, but for transplants it's cheap enough.......until taxes and insurance hit. If you're in a flood zone, expect high insurance.
Watching this in 2023 staring at 7.5% rates while he types in 3.8% and says that’s high 😓
Megalovania! 🤙 nice touch
You have an income of 170k a year, you have excellent credit, you have 50k in savings AND an emergency fund? Why are you tripping about affording a 400k house?
That’s only 70k per person. It’s just enough imo
Exactly. They already knew they could afford it.
Taxes in Texas are really high and especially if they are first time buyers, it’s a scary process. Even more so right now with prices being at an a time high. Hearing Javier talk through the process and explain why they are in a good spot is still helpful to those that aren’t there.
Yea that is about what we make and we only have a $170k mortgage
Ya this was just a bragger
Those number for taxes are correct in Texas. No state tax so they shaft us in property taxes. Property taxes, where I live in Texas, are stupid high. 8500 dollars in property tax for a 2250sqft house.
How do I download your spreadsheet?? Link doesn't work
This housing market is so depressing. We're ready to buy, financially sound, found a house that was a great fit for us that had been sitting on the market two weeks, made an offer the seller allegedly "loved," and then a cash buyer swooped it and took it. It feels hopeless.
Just make more money.
The problem is that you can’t look at the actual listing price and base your offer on that. If a 400k home is what your max is, look at listings in the 300k to 350k range. And expect to pay 50k to 100k over! If your willing to wait, the recession my help you to buy a home at listing price.
@@ling636 damn what a fantastic solution. So easy
@@Tunechi65 Yeah making money can happen but everyone can't just make more money.
Please pick a New Jersey example for illustration Mr.Javier..Thanks
No state income tax, but they sneak in those high property taxes to balance things out.
I really enjoyed watching your video
Thanks for sharing
I got that reference! All I gotta say is “Vatos Locos forever”
Chicano U turn!
I know what you mean jellybean!!
This situation is very similar to ours. The only difference is that we bought a 425k house. The housing monthly payment is still less than 25% of what we bring home. Thanks for the video Javier. New subscriber though 😀
I would go with the safe or really safe. The reason being is that a lot of people may want a car one day, have kids, travel, etc. you don’t want your house to get in the way of that!
Im just going to like this video right outta the gate.
You a real one 👊🏼
How much is closing cost in Arizona?
More of these please! :-)
Javier how do I become part of your referral of agents. I live in Monterey County and Salinas California
I need this to be a permanent series. STAT.
I thought the two credit scores are averaged out
Hello, I have a sellers question. Can you negotiate the cost for the buyers agent? Say from 6% to 3%?
Great channel
Hey! Just bought your sheet for $5. Thank you. Next time ADD a tip section...I wanted to give you a tip because the spreadsheet is EXCELLENT. 😜
Well, the $3 and $5 is basically a tip since you could get it for free. Thanks!
What are the prepaids on a loan estimate? Is that on just fha or conventional as well? My loan officer sent me an estimate that jsut seems insanely high for our new build.
Watch the video he said conventional
If you have 740+ FICO, mortgage companies (including Fannie and Freddie) don't care.
Even if you have 700+ it's good enough to not worry with the pricing hits for Fico
800 or bust
@@symonekumar4043 I have 767. Is that good enough?
Adult here 🙋🏾♂️, and shout out any💧🎭 VL in the comments ✌️👉
Great walk through, and thanks for the sheet!
781-850 is no different as far as rates. They all get the best.
Great video love the concept. I live in Chicago paid 500,000 for my home back in 2008 my texts are close to $40,000 a year. So don’t tell me about Houston
Why does the Home owners insurance policy in Florida very expensive?
Horrible state that doesn't protect its citizens, so the insurance is higher due to the risk, same in Texas, the states ignores laws in place to protect people and property to save money passing the bill onto citizens
Thanks for the info
3.8% is high?! This was only 6 months ago, the rates now are around 5% with good credit
10600 net on 14000 gross ? Y’all got that 1% 401k?
Javier,
My husband and I are looking to purchase a house; however, we are being indecisive. We want to know if we are able to determine how much would be the total pre-approval that we would qualify for without going to a lender and getting our credit pulled. Is there a formula that lenders use to check how much the pre-approval is.? Just so that we don’t go in with high hopes thinking that we will get approved high enough and end up disappointment. Can you help me.?
Javier, is it possible to buy down points on the interest? If so, how exactly does that work as far as costs and how low you can drop the APR? Great content and thanks in advance.
I asked about this in a previous video. Is it worth it to buy points anymore?
@Rachel Sheldon are you buying 1 point for 4k or is 4k per every 0.25? Also, for reference, what is the purchase price of your home or the amount you’re actually financing? I want to get a rough estimate since I am currently in the house market too. Thanks in advance
Do govt student loans effect 'debts' when buying a home?
Holly crap! Dude Texas has crazy high property taxes! I only pay 2.1k for a 900k home in California. I bought my home in 2011 for 181k.
You're not paying 2.1k for a 900k home, you're paying 2.1k for a 181k home, VERY big difference
@@jtowensbyiii6018 ya thanks for California prop 13. Property taxes based on purchase price and can only increase 2% max per year. But technically I am paying 2.1k for a 900k home because my home is worth 900k. I can easily sell it now for that much or more with how crazy the market is right now.
I like these types videos.
Hello , big fan of the channel I've been binge-watching some of the videos for the pass weeks. I have a question if you are able to answer... Is there such a thing as a buyers agent and a sellers agent?
Thank you for this, it was really helpful!!
Can you make a video about single people buying there 1st 🏡? Need info
This is fun
Texas land taxes are insane to make up for the fact there is no income tax.
Can you talk about 80/10 /10 loans to avoid pmi?
Does a bank pre approval expire? If you keep getting out bidded and it can possibly take months for you to win a bid, do you have to be pre approved again? Also with each pre approval, is your credit score taking a hit each time?
If I'm not a pre-approval last 45 days. After that you have to reapply and yes credit hit each time
For property taxes in Texas, remember we don’t have state income tax. With that the more money you make, the more money you save vs a state that has state income tax!
Always consider property taxes when buying your house. States without income taxes have to make up the revenue somehow
OMG!!!! We are looking at houses currently and this video was SOOOOO helpful. Please make this a series!
Hey Javier me and y fiancé are looking to buy a home in Salinas California and we both take home between $150,000 to $158,000per year how much would we have to put down and we are first time buyers and our credit rating is between 710 and 770. What can we afford and thank you for your videos we are learning a lot.
I’m no agent but I assume you guys can easily afford a $500-800k property. That’s a 2-3 bedroom 1-2 bath home in some parts of the Bay Area, idk much about Salinas. Good luck!
I can afford 300k home at 1/3 that, so trippling those numbers you can likely afford 700-800k , use first time home buyer 3-5% unless you have a lot of extra money upfront
Fab video awesome 😎😎😎😎
I used to live in TX, and the property taxes are so high because they don’t have state income tax. They still have to get their money, ya know? $$$ (it was okay with me as a non-homeowner)
I am an adult but I still giggled because you said not to giggle... 🤷🏽♀️😬
I would love to do this with you sometime. I love your channel.
This person needs to look outside Harris county for lower taxes.
Crying in NYC metro taxes that Javier is shocked at how “high” theirs are
Taxes are too damn high!
@@JavyVidana yes they are that’s why we’re doing usda and going rural thankfully my husband’s hospital is close to several rural areas that still can keep us central and we want to get in a new build community first phase
Loving the lofi Meglovania background music 😂
Yes
Houston Texas area is way different than Houston Texas. We have a house down here in the suburbs that blows all those inner-city/inner loop m************ away lolz
Texas has crazy high property taxes but 0 in income tax
Coming in a year later...figuring high on interest rate of 3.8% oof :D
The high property taxes are supposed to make up for not having a state employment tax.
Taxes look normal for me…same here in Florida. At least Texas probably has lower insurance.
We do have lower Insurance (so far) 😂
I agree… lol people love talking about how “cheap” Florida is?! I always go huh?
When it comes to to Florida… you might as well double your projected taxes to calculate your insurance… and then some… Zillow “estimates” are a joke. It’s very common for people here in south Florida to pay 7k+ in taxes…. And another 7k+ in insurance… a lot of house poor folks around here 😅
Those are cheap property taxes relative to the suburbs in Houston lol
Lol you think those taxes are high. CT says hi 😂😂
Those property taxes is the result of no state taxes , and the only tax break you’ll get as a single person living in the state
10k Monthly income in Houston is more than enough
7:42 "Give me some Chon Chon"
44 years young and yes I laughed at "purchase price"
Saying don't laugh will always make me laugh, Javier :p