Closing on my house in 2 days. Appreciate all the real estate info. You made the house buying process much easier to understand. I'll still watch your videos and support the channel. Keep up the strong work 💪
Agreed. However, as he stated, guestimate the closing cost to $10K or slightly more. If you look up the fees from various lenders, appraisals, etc, you can come somewhat close to the costs, but the easiest is to expect $10K-ish. Mine was $8,500 in 2017, then I applied to refinance in late 2020 and it came to just under 10K
If you cannot afford it then you can resend your offer and back out. I struggled with “how can I ever afford a house” but discovered over the years it’s more about doing the math to stay living within your means.
You are a life saver with this video. First time home buyer with my husband here and we just got our offer accepted so now I’m binging these videos to make sure we’re making logical negotiations for the rest of the process. More FTHB content pls!
We are pending on a home so excited. Buyer accepted our offer. We were surprised with appraisal fee , earnest money, and inspection costs. I warned my husband buying a home is expensive.
Thanks for the info. So should I save money for the closing costs in addition to the down payment? Everyone talks about saving for a down payment, but it seems like you should be saving for closing costs too.
A Discount point is 1/8 of 1% or .125 This is on the loan amount. Example: If the interest rate is 3.5% with 1 discount point, the loan APR is now 3.625%
Remember if you give someone money for a down-payment You MUST sign a document saying it is a gift. No matter how much they promise to pay it back, if it's a gift they don't ever have to. You cannot loan money to a family member or fiance to buy a house. You can only gift it.
@@ygbodybuilder3023 at some point, bank statements will be asked for and any amounts over 1% of purchase price look sketchy and must be explained and approved for loan approval! hope this helps
Finally someone covers this. I have learned the hard way how much you actually need to buy a house. For example if you plan to buy a 120K condo make sure to put aside 10% for downpayment (at least 5%) and 15k for closing costs only. Adding both would be your cash to close.
I'm still waiting to find the right house in this crazy market, but my biggest tip is don't worry about having your place 100% decorated/furnished after buying it. It's okay to take your time finding all the right pieces. Having the basics will work, and going to thrift stores or buying less expensive furniture will stretch your budget if you think your style will change soon. Hope that helps but you may have already known that stuff lol
I agree with furnishing over time. We moved in with the same furniture from our college apartments and just got a few new things at a time. I know you’ll have the urge to have it look nice ASAP, but realistically it’s fine to work your way up, no rush.
Been watching all your videos on new first time home buying since hopefully by 2024 maybe later my man an I will be buying our first home after renting or living with other for over 20 years we are finally almost in a good enough spot to buy a house thanks for these videos
Just subbed. Thanks so much for calmly and easily explaining all this. It’s made me and my wife feel so much better about the home buying process. Keep being awesome and enjoying that taco bell!
Really appreciate your videos. We are currently thinking about getting a house in the spring of 2023 when the market starts to cool off a bit. Info you give is the best I found for preparing and learning about the process. My subscribe button is gray
@@Koolmoedeesimpson well I make 130k and 600k seems out of reach for me unless I save for a very large down payment. I’m basically aiming for a $2,500 max mortgage and am willing to put down 40-50k
Man this would have been SO helpful if I had found it a month ago. I'm about to close on some land, same idea just without the inspection. It's been so stressful and I've had no idea what was supposed to be happening the whole time. Luckily my real estate agent was awesome about explaining things, I went in not thinking about closing costs or earnest money at all. So lucky I had extra in savings to cover that. Next step is figuring out how to actually get a house built if I prices stop skyrocketing while I save up for that.
@@ImJas3 I got the land and am working on getting utilites set up out there. This summer the plan is for a well and electric then getting a septic plan. The quotes I got from builders at the time I purchased were astronomical but they were at the height of the building bubble and were assuming I would do utilities with the build so hoping in a few years when the infrastucture is set and I'm ready to start building it will be a bit more reasonable.
Thanks so much for breaking it down. I listened several times on half-speed while making notes📝 . We’re about to finish paying off student loans, so buying our house is our next milestone🤓
Very informative video. Thanks for explaining everything in simple language. I am not ready to buy a house yet but I would love to in 5 to 10 years. I am just starting saving up to help go towards the down payment, closing costs and some extra cushion.
There is so much money involved in this game, sometime I wonder why go to university when real estate industry is this lucrative with all the fees. It will only get better from here
Closing on $500k new construction soon in cities nicest school district near Houston. Closing costs are $25k on top of Down Payment. Empty lots were in a bidding war for earnest deposits. It took me $50k to lock in my lot with earnest money.
Gift funds can be given to a buyer by someone other than a "Blood Relative". Although that is the most common but not limited to family. Also, the Origination Fee and Appraisal Fee are not lumped together. An appraisal is a third-party fee and can not be added together to call it a "lender fee". Simply put an appraisal fee is just that an appraisal fee, not a "lender fee". The law states that a lender cannot profit from an appraiser. Therefore, appraisers are third-party companies. Also, a seller can give a "Seller's Concession" which does in fact go towards closing fees, in AZ as well.
With this Crazy California housing market my fiance and I have been going numb of how costs work? or if they are just bamboozling us. Bring on the Info need it now more than ever.✨🙏💕 Gracias...
I bought my first new house and the builder paid for all closing cost including a fixed interest buy down and the prepaids which I had to negotiate as I was already doing a 20% down and didn’t wanted any extra charges.
@@emmanueldelgado9205 tell that to everyone that can still afford them at the inflated price. A price is what a buyer and seller are both willing to exchange something at and people can still afford it there. The only way we're probably going to see a shift is if interest rates go up significantly (not just a small amount)
@@jessewalker1812 Well the average person is lying to themselves if they can say that they can afford it because they cannot if you go over 12% of your income that is too much
I'm buying a house currently and my only problem is insurance I live in Louisiana and after the last hurricane seems the insurance companies aren't writing new policies. Not sure what to do
Can I afford a 200k house? I make about 45-50k a year (after vehicle expenses) but only 30k is taxable w2 income the rest is vehicle mileage reimbursement. 30k in savings, 0 debt (drive cheap old cars) 780 credit score. Not married, no kids. OH and I already house hack a duplex worth 120k and owe 95k but want to keep and rent both units out
What about when you offer 400k to buy a house that is appraised at 380k once your offer is accepted. The buyer has to come up with the remaining balance. Along with down payment. Can you go over that in more detail?
I think. Sure he'll correct me: You typically apply for a loan before the appraisal. The loan will say what percent down is needed. What that really means is what percentage of the cost *or appraisal* whichever is lower the bank will finance. A conventional loan is 80% (20% down). So if you offer $400, Seller accepts, and you had applied for a conventional loan, and the appraisal is is $380 you have a few choices. By default bank will only finance 80% of $380 (appraise) in a conventional mortgage, or $304. First look at your purchase agreement. This varies by state but in my state now the financing contingency (you can back out of you can't obtain financing after good faith efforts) and the appraisal contingency (you can back out of it appraises low) are separate. If you have an appraisal contingency and it appraises low, or a financing contingency and the low appraisal prevents you from getting financing, You can threaten to back out in good faith and try and negotiate. Sometimes you can get money moved around for a small shortfall between purchase price and closing costs. Probably not $20,000. In my case I only had a financing contingency and had a lot of cash so I did not have a right to back out if the appraisal was low.. I still could have threatened to, and it might of worked, but I would have breached the contract. But basically option 1 is renegotiate. Option 2 is to get another appraisal. You typically have the right to a second appraisal. Option 3 is to come up with the cash. In this case your bank on a conventional loan would only loan .8 x $380k or $304. So you need $96k down instead of $80k. If you don't negotiate. Option 4 is apply for a different type of loan. For example you may be able to get a 10% down loan with private mortgage insurance. PMI is insurance that pays the bank if it foreclosed and the property sells for less than some amount,, I would guess less than 80% what you bought it for (more technical than that, but that's why PMI exists. There are some special loan types requiring less than 80 with no pmi but that is a different topic). Then you would only need to come up with $58k, and can use the other $22k for your higher monthly payment.
@@doomedwit1010 @sliimsal Essentially, if the property does not appraise, you are back to square one! What I mean is it could be a total re negotiation. HOWEVER all depends on the market conditions. If it's a super aggressive seller's market, a buyer could have to pay the difference in cash, or cancel the deal OR the seller may split the difference. Again it is all cards back on the table situation. I have had sellers agree to lower the price to the appraised value and had buyers cough up the full difference and different scenarios in between. Depending on the State law and the seller and the lender, there is an option where a seller could lend the buyer the difference for a specific length of time for a specific interest rate. ALL dependent on bank policy, local laws and the ability or willingness of the buyer to be able to repay. Market conditions and economic conditions play a role too.
Hi Javier, my wife and I are moving from Illinois to California, should we rent first?or can we buy a house in California before we move?need your advise..thanks!
The fees for the real estate agents are paid for by the seller for example if the fees were 5% then the buyer’s agent gets 2.5% and the seller’s agent gets 2.5%
Thanks, Javier. Why do you say at the end cap of $10k for closing costs? In your experience, does it just never go above that? Trying to save for a place now. Thanks!
Hi Javier! Would you recommend taking out a 401k loan that you can use towards your house? People keep talking about the benefit of paying the interest back to yourself but idk if it’s worth it.
So my Realtor just tried adding sellers closing costs/Hazard insurance/1,000 earnest money 💴 2,500 closing costs .Guess I need a new realtor that has his/her best interest for me not the seller.For all you realtors it’s not always going to be rainbows and sunshine ☀️ market is crashing, a newbie can sell a house in this market so don’t think your special let’s see how long you last when you have months with no sales .
Hello Javier! Thanks for the video I just viewed for the first time today and subscribed. I’ve been actually trying to make the move from San Jose to Lake Tahoe. But somethings always delayed the process for me, whether it was my credit score, or I didn’t have enough revolving income from my independent contracting jobs or the housing market simply had a quick death last year. But I am determined. I was wondering he mentioned house inspections were usual protocols for buyer and seller. How does it work if the inspection finds lots of problems and the seller doesn’t really want to fix them? In cases like this can you ask for reduce purchase price in your bid for the costs of fixing the problems? Thanks again and I’ll be tuning in from now on.
Thank you for all the information. I was considering buying something but after listening to all the steps actually required I think I've cooled off now. I already had doubts because I know I'll want to change cities in 1 year or so. Back to the rental tab for me.
Is this market ever gonna change ? I live in Nassau county Ny , I’m pre approved for 400k fha , 350 conventional, I have about 80k cash for whatever fees /closing /ins , I get out bid once a week , Anything that’s even listed for lower then 400k might not have a roof on it , im being told to wait now and then the market will crash , or live in something absolutely horrible, don’t know what to do , I hate Ny for so many reasons but I have about 15 years before I can retire,I can’t wait to leave this filthy disgusting crime infested state .
Need your inputs on my scenario, I signed a contract for a new home and the tentative delivery date mentioned was Jan 2022. I am working with 2 lenders and one of them wants to proceed with the appraisal and my realtor wants me to finalize the lender asap. I am confused, my understanding is to wait till my builder commits to the closing date and then lock the rate or how it should be? please comment.
Is it true closing costs for new construction homes are a lot higher because I’m looking at a new construction and looking at going through a lender they don’t provide and the closing costs over 10K
I spoke to a mortgage broker recently here in PA and he told me that I need to account for closing costs equal to 5% of a house price 🤯I'm like WAAAAAAAAAAAAAAAAAAAAAAAAAAT?
Closing on my house in 2 days. Appreciate all the real estate info. You made the house buying process much easier to understand. I'll still watch your videos and support the channel. Keep up the strong work 💪
The saddest part is the exact closing cost and rate aren't known until after you are under contract to buy, that is a dumb process.
Yea it is
Agreed. However, as he stated, guestimate the closing cost to $10K or slightly more. If you look up the fees from various lenders, appraisals, etc, you can come somewhat close to the costs, but the easiest is to expect $10K-ish. Mine was $8,500 in 2017, then I applied to refinance in late 2020 and it came to just under 10K
Exactly! You have to just take a leap and hope there’s something decently soft at the end 😞 you can never really know for sure beforehand
If you cannot afford it then you can resend your offer and back out. I struggled with “how can I ever afford a house” but discovered over the years it’s more about doing the math to stay living within your means.
@@JakeMontgomeryHamiltonrescind* not resend.
You are a life saver with this video. First time home buyer with my husband here and we just got our offer accepted so now I’m binging these videos to make sure we’re making logical negotiations for the rest of the process. More FTHB content pls!
We are pending on a home so excited. Buyer accepted our offer. We were surprised with appraisal fee , earnest money, and inspection costs.
I warned my husband buying a home is expensive.
I wish this made me feel better about the process... sadly it does not. I'll keep saving....
The raggeddy truth beats a dressed up lie any day though🤓
2:30 Dude really used the silver rupee sound effect from OOT. I like it.
I heard it too!!! 😂
im many many years away from buying a home so I guess im here for the rugged hadsomeness
Thanks for the info. So should I save money for the closing costs in addition to the down payment? Everyone talks about saving for a down payment, but it seems like you should be saving for closing costs too.
Yes, save for both. That’s what I had to do.
1st timer here. Really appreciate all of your videos they’ve helped clarify a lot of this process.
A Discount point is 1/8 of 1% or .125 This is on the loan amount.
Example: If the interest rate is 3.5% with 1 discount point, the loan APR is now 3.625%
the video editor loves the close ups.
Yeah it's annoying
The close ups are hilarious
Remember if you give someone money for a down-payment You MUST sign a document saying it is a gift. No matter how much they promise to pay it back, if it's a gift they don't ever have to. You cannot loan money to a family member or fiance to buy a house. You can only gift it.
How bout that person just puts it in there bank account and say they already had it
@@ygbodybuilder3023 at some point, bank statements will be asked for and any amounts over 1% of purchase price look sketchy and must be explained and approved for loan approval! hope this helps
Finally someone covers this. I have learned the hard way how much you actually need to buy a house. For example if you plan to buy a 120K condo make sure to put aside 10% for downpayment (at least 5%) and 15k for closing costs only. Adding both would be your cash to close.
15k for closing costs on 120k??? That’s way off
@@blade643 yea that doesn’t sound right
No one ever talks about the cost of furnishing your home. I know that’s not what this channel is about but any tips as a homeowner?
I'm still waiting to find the right house in this crazy market, but my biggest tip is don't worry about having your place 100% decorated/furnished after buying it. It's okay to take your time finding all the right pieces. Having the basics will work, and going to thrift stores or buying less expensive furniture will stretch your budget if you think your style will change soon. Hope that helps but you may have already known that stuff lol
I agree with furnishing over time. We moved in with the same furniture from our college apartments and just got a few new things at a time. I know you’ll have the urge to have it look nice ASAP, but realistically it’s fine to work your way up, no rush.
Thanks so much ladies!
@@CassandraCee_ I personally go with ESTATE YARD SALES! New stuff breaks and low quality.
@@SamuelClemente7718 Thats a good one I never thought about. Thank you!
Been watching all your videos on new first time home buying since hopefully by 2024 maybe later my man an I will be buying our first home after renting or living with other for over 20 years we are finally almost in a good enough spot to buy a house thanks for these videos
Just subbed. Thanks so much for calmly and easily explaining all this. It’s made me and my wife feel so much better about the home buying process. Keep being awesome and enjoying that taco bell!
Really appreciate your videos. We are currently thinking about getting a house in the spring of 2023 when the market starts to cool off a bit. Info you give is the best I found for preparing and learning about the process. My subscribe button is gray
3% sounds about right for closing costs I got some estimates with 15k in closing costs on a ~500k loan here in southern ca
How much do you need to make for that I
Looking at a 600k house but haven’t done much research beyond that
@@Koolmoedeesimpson well I make 130k and 600k seems out of reach for me unless I save for a very large down payment. I’m basically aiming for a $2,500 max mortgage and am willing to put down 40-50k
Man this would have been SO helpful if I had found it a month ago. I'm about to close on some land, same idea just without the inspection. It's been so stressful and I've had no idea what was supposed to be happening the whole time. Luckily my real estate agent was awesome about explaining things, I went in not thinking about closing costs or earnest money at all. So lucky I had extra in savings to cover that. Next step is figuring out how to actually get a house built if I prices stop skyrocketing while I save up for that.
How’s it going? 9 months later
@@ImJas3 I got the land and am working on getting utilites set up out there. This summer the plan is for a well and electric then getting a septic plan. The quotes I got from builders at the time I purchased were astronomical but they were at the height of the building bubble and were assuming I would do utilities with the build so hoping in a few years when the infrastucture is set and I'm ready to start building it will be a bit more reasonable.
Thanks so much for breaking it down. I listened several times on half-speed while making notes📝 . We’re about to finish paying off student loans, so buying our house is our next milestone🤓
Very informative video. Thanks for explaining everything in simple language. I am not ready to buy a house yet but I would love to in 5 to 10 years. I am just starting saving up to help go towards the down payment, closing costs and some extra cushion.
Love watching your videos. I’m looking to buy my first home and your videos have been very helpful. Keep up the great work👍🏽
That’s why I cancelled my new build yesterday😢 I followed your advice and I’m going to rent and save more.
What happened
It’s just too expensive. So many hidden costs. The math don’t lie. I’ll just wait until next year.
Same here, we'll get there though.
There is so much money involved in this game, sometime I wonder why go to university when real estate industry is this lucrative with all the fees. It will only get better from here
I've been watching home buying videos for a few months now and yours have been the most helpful. Thank you!
Closing on $500k new construction soon in cities nicest school district near Houston. Closing costs are $25k on top of Down Payment. Empty lots were in a bidding war for earnest deposits. It took me $50k to lock in my lot with earnest money.
Memorial area??? I’m from Houston too
@@rajinferno007 Cypress
Gift funds can be given to a buyer by someone other than a "Blood Relative". Although that is the most common but not limited to family. Also, the Origination Fee and Appraisal Fee are not lumped together. An appraisal is a third-party fee and can not be added together to call it a "lender fee". Simply put an appraisal fee is just that an appraisal fee, not a "lender fee". The law states that a lender cannot profit from an appraiser. Therefore, appraisers are third-party companies. Also, a seller can give a "Seller's Concession" which does in fact go towards closing fees, in AZ as well.
With this Crazy California housing market my fiance and I have been going numb of how costs work? or if they are just bamboozling us. Bring on the Info need it now more than ever.✨🙏💕 Gracias...
I bought my first new house and the builder paid for all closing cost including a fixed interest buy down and the prepaids which I had to negotiate as I was already doing a 20% down and didn’t wanted any extra charges.
Cost simplified for my American citizens. 15:16
Come on Market Crash!!!!! The property market is so damn bad that the price of mobile homes are even going up.
Markets are about supply and demand. Everyone hoping for a market crash is demand. Prices won't drop while there's more demand than supply.
Mortgage rates should be dropped in 2023. Hope you don’t mind waiting 2 years
Ik how to stop demand don't buy expensive homes
@@emmanueldelgado9205 tell that to everyone that can still afford them at the inflated price. A price is what a buyer and seller are both willing to exchange something at and people can still afford it there. The only way we're probably going to see a shift is if interest rates go up significantly (not just a small amount)
@@jessewalker1812 Well the average person is lying to themselves if they can say that they can afford it because they cannot if you go over 12% of your income that is too much
Thanks Javier! This is amazingly helpful!
Javier great watching your videos the attorney fees are associate with closing fees as well.
Could you please explain the associated costs of buying a lot?
Thank you so much this is very helpful!! Thinking about buying home
I finally found the 3 and a 1/2 acre lot I'm going to buy this weekend I am so excited
Amazing video thanks!
Thank you!
Also, furniture, lawn care products, blinds if your house don’t have them, decorations!
Yep, that and much more.
Love your explanations
I'm buying a house currently and my only problem is insurance I live in Louisiana and after the last hurricane seems the insurance companies aren't writing new policies. Not sure what to do
Too bad the market is crashing TOMORROW
Lol did Javier just steal your video
Nvm yours was closing cost explanation
Haven't you seen the videos it has already started...CRASHING!!
I love your program very good
Sitting here waiting for market crash to afford buying a house.
I got tired of doing that and Impulled the trigger today, houses will only stabilize or keep getting more expensive
If that's how you feel buy raw land and build your own home
How’s it going?
@@Waltuh22232 Still waiting
It crashed, how did it go?
I recently closed and paid about 7k in closing costs
can confirm, the market is quite insane today still.
Thanks for the video. I am sharing this with my bro and his wife. They are looking to buy so this info will be helpful. :)
Man, if you can get the additional funds, go for the points! I got a whole 1% off my mortgage rate and I'm paying 2.25%!
How much did it cost to buy it down?
@@inlinesix6694 I don't remember exactly, but I am pretty sure it was less than $3k.
Yayy now you're getting ripped off half as much as most people
@@emmanueldelgado9205 Can you explain why he is getting ripped off?
@@simplybaldo interest?
Can I afford a 200k house? I make about 45-50k a year (after vehicle expenses) but only 30k is taxable w2 income the rest is vehicle mileage reimbursement. 30k in savings, 0 debt (drive cheap old cars) 780 credit score. Not married, no kids.
OH and I already house hack a duplex worth 120k and owe 95k but want to keep and rent both units out
My earnest was 25k on a 925k home. About 2.7%, SoCal. Felt like there was so much at stake..
I wish I could just click Buy It Now lol.
What about when you offer 400k to buy a house that is appraised at 380k once your offer is accepted. The buyer has to come up with the remaining balance. Along with down payment. Can you go over that in more detail?
I think. Sure he'll correct me:
You typically apply for a loan before the appraisal. The loan will say what percent down is needed. What that really means is what percentage of the cost *or appraisal* whichever is lower the bank will finance.
A conventional loan is 80% (20% down). So if you offer $400, Seller accepts, and you had applied for a conventional loan, and the appraisal is is $380 you have a few choices. By default bank will only finance 80% of $380 (appraise) in a conventional mortgage, or $304.
First look at your purchase agreement. This varies by state but in my state now the financing contingency (you can back out of you can't obtain financing after good faith efforts) and the appraisal contingency (you can back out of it appraises low) are separate. If you have an appraisal contingency and it appraises low, or a financing contingency and the low appraisal prevents you from getting financing, You can threaten to back out in good faith and try and negotiate. Sometimes you can get money moved around for a small shortfall between purchase price and closing costs. Probably not $20,000. In my case I only had a financing contingency and had a lot of cash so I did not have a right to back out if the appraisal was low.. I still could have threatened to, and it might of worked, but I would have breached the contract. But basically option 1 is renegotiate.
Option 2 is to get another appraisal. You typically have the right to a second appraisal.
Option 3 is to come up with the cash. In this case your bank on a conventional loan would only loan .8 x $380k or $304. So you need $96k down instead of $80k. If you don't negotiate.
Option 4 is apply for a different type of loan. For example you may be able to get a 10% down loan with private mortgage insurance. PMI is insurance that pays the bank if it foreclosed and the property sells for less than some amount,, I would guess less than 80% what you bought it for (more technical than that, but that's why PMI exists. There are some special loan types requiring less than 80 with no pmi but that is a different topic). Then you would only need to come up with $58k, and can use the other $22k for your higher monthly payment.
@@doomedwit1010 @sliimsal Essentially, if the property does not appraise, you are back to square one! What I mean is it could be a total re negotiation. HOWEVER all depends on the market conditions. If it's a super aggressive seller's market, a buyer could have to pay the difference in cash, or cancel the deal OR the seller may split the difference. Again it is all cards back on the table situation. I have had sellers agree to lower the price to the appraised value and had buyers cough up the full difference and different scenarios in between. Depending on the State law and the seller and the lender, there is an option where a seller could lend the buyer the difference for a specific length of time for a specific interest rate. ALL dependent on bank policy, local laws and the ability or willingness of the buyer to be able to repay. Market conditions and economic conditions play a role too.
Hi Javier, my wife and I are moving from Illinois to California, should we rent first?or can we buy a house in California before we move?need your advise..thanks!
What about any fees or commissions paid to either the listing agent or your buyers agent?
The fees for the real estate agents are paid for by the seller for example if the fees were 5% then the buyer’s agent gets 2.5% and the seller’s agent gets 2.5%
Wait, so the loan to begin with is only the amount of money needed for a down payment?
thank you bro
YES A NEW JAVIER VIDEO AHH
Thank you Javier for the awesome videos! Do you have any Southern California specific channels you recommend?
i have bought 3 homes in the past and always put down 20 percent
Thanks, Javier. Why do you say at the end cap of $10k for closing costs? In your experience, does it just never go above that? Trying to save for a place now. Thanks!
and what's the timeframe for this process?
A month
Youre the best!
I don't see how this is more helpfull then a google search of Mortgage calculator.
Can you do an example with numbers?
Find my response, I did an example with it
What about buyer agent fees? Is that addition to the closing cost?
Great video
Hi Javier! Would you recommend taking out a 401k loan that you can use towards your house? People keep talking about the benefit of paying the interest back to yourself but idk if it’s worth it.
So my Realtor just tried adding sellers closing costs/Hazard insurance/1,000 earnest money 💴 2,500 closing costs .Guess I need a new realtor that has his/her best interest for me not the seller.For all you realtors it’s not always going to be rainbows and sunshine ☀️ market is crashing, a newbie can sell a house in this market so don’t think your special let’s see how long you last when you have months with no sales .
If you're buying house in 3 months, is it good to use credit cards or debit cards
Hello Javier! Thanks for the video I just viewed for the first time today and subscribed. I’ve been actually trying to make the move from San Jose to Lake Tahoe. But somethings always delayed the process for me, whether it was my credit score, or I didn’t have enough revolving income from my independent contracting jobs or the housing market simply had a quick death last year. But I am determined. I was wondering he mentioned house inspections were usual protocols for buyer and seller. How does it work if the inspection finds lots of problems and the seller doesn’t really want to fix them? In cases like this can you ask for reduce purchase price in your bid for the costs of fixing the problems? Thanks again and I’ll be tuning in from now on.
Thank you for all the information. I was considering buying something but after listening to all the steps actually required I think I've cooled off now. I already had doubts because I know I'll want to change cities in 1 year or so. Back to the rental tab for me.
If the seller offers to pay closing costs, does that include appraisal, inspection, prepaid items, etc? Thanks
Coming in clutch my guy!
Great info can u talk about New Mexico property?
Thank you so much for the information I really appreciate it. Got my license in Georgia. So if you need a referral. Lol. Keep up the good work.
A builder near me said that earnest deposit needed is 45k for a 560k house. Is that normal?
what about broker fee?
Is this market ever gonna change ? I live in Nassau county Ny , I’m pre approved for 400k fha , 350 conventional, I have about 80k cash for whatever fees /closing /ins , I get out bid once a week , Anything that’s even listed for lower then 400k might not have a roof on it , im being told to wait now and then the market will crash , or live in something absolutely horrible, don’t know what to do , I hate Ny for so many reasons but I have about 15 years before I can retire,I can’t wait to leave this filthy disgusting crime infested state .
Where can I go so you can take my money? I need some consultation I live in phoenix 😄
Hey Javier. Do you know any USDA lenders that work with modular homes? My parents live in Northern AZ .
Can I do a cash out refinance on fha loan with 3.5 down . Or do I have to put down 20%?
I love the legend of Zelda ocarina of time sound bytes. Did anyone catch that?
My wife’s aunt is a realtor. She’s pretty mad at us for waiting. Bro I’m 30 what’s the rush
$27,000 and still have an emergency fund? I'm always gonna rent 😭😭😭
Same here smh!! Very frustrating! Its like you gotta have at least 100k in savings just to buy a home with comfort
@@GoofyTeaYes. That is why parents are usually expected to contribute to the down payment.
Waiting for market crashhhhhh, rent in california is so over priced!
Need your inputs on my scenario, I signed a contract for a new home and the tentative delivery date mentioned was Jan 2022. I am working with 2 lenders and one of them wants to proceed with the appraisal and my realtor wants me to finalize the lender asap. I am confused, my understanding is to wait till my builder commits to the closing date and then lock the rate or how it should be? please comment.
Lender won't approve you without an appraisal
What about attorney fees?
Best video I have seen for this topic.. Could you make a video about home loans for immigrants ?
for daca recipients
Same thing, you need a down payment to be competitive and good credit score.
Join the military and get a VA loan while giving back to your new country
Waiting a whole year later and interest rates at 7.5% WOWZA
Is it true closing costs for new construction homes are a lot higher because I’m looking at a new construction and looking at going through a lender they don’t provide and the closing costs over 10K
Just bought a beautiful home 4 months ago. We bought home in a HOA neighborhood. HOA neighborhoods don't accept investors!!!
I spoke to a mortgage broker recently here in PA and he told me that I need to account for closing costs equal to 5% of a house price 🤯I'm like WAAAAAAAAAAAAAAAAAAAAAAAAAAT?
Yeah imagine whenever we have houses that are worth millions of dollars
Right? Same
Go to a optical place and have them tighten your glasses. I’m not trolling just so you don’t keep pushing your glasses up. It’s free to do.
It's simple: very complicated. I can't afford any of it 😥
You have $25k saved up?
@@SamuelClemente7718 nope.. majority of the people don't.
@@Mr.Ramirez95 ponte las pilas!!!
@@SamuelClemente7718 😑
@@Mr.Ramirez95 I OWNED 4 homes . How can I help you? U caught me in moment that I want to help someone. What you wanna know?????? Ask me anything!!!!!
All I hear is cost, cost, cost 😳😳😳 I want to buy a home 🏠 but I'm so scared 😱 bc it's so much 💰💰💰 and I would be essentially buying by myself.
Just subbed homie.
This channel makes me want to just keep buying fixer upper houses in cash instead of mortgages
Damn how did you know my parents just kicked me out
Hi javiar can the mortgage company ask for my bank statement with account number on thr?
Man you are only one that I have to put on 0.75 speed