✅ - Get a Referral to a Mortgage Lender or Realtor - www.jebsmith.net/referral 🏠 - First Time Home Buyer Course - www.becominghomewise.com ⏩ Watch This Next ⏩ - NEW FHA Loan Requirements 2024 - First Time Home Buyer - FHA Loan 2023 - th-cam.com/video/CApGLR5u6j0/w-d-xo.html
I think the title should be how much you can qualify, and not how much you can afford. Buying a home should not bring stress, and financing 47% of your income into a home leaves very little, if any, for savings, emergencies, and investments.
Thanks for the advise Dave. Unfortunately there is no houses that are less than 40% of the average income. I live in arizona and anything that isn't already falling apart is easily over 330k.
@ISILENTNINJAI I completely understand, but just because the situation is bad doesn't mean you have to put yourself in a bad financial state. You can buy a starter home, or keep saving until you're ready. Set yourself up financially first, and you'll be glad you did. I've seen too many people rush into buying a home because they HAD too, and then lose it because they didn't plan their biggest financial purchase of their lives.
@@Juliozev96 ya just tell people to keep saving cause it's that easy whay if they needed 10 years to be able to save the 3.5% just keep saving while everything keeps going up
Jeb my lender wants to take most of my savings for the down payment but i want my husband to apply for any programs available and my friends said there are programs available for first time buyers but i cant finf any lenders that dont offer this program and require 1p percent down payment im trying to leave my savings in the bank so i have back up money for the mortgage in case my husband doesn't have work which sometimes he doesn't have work because of the weather any mortgage lenders have these programs?
Bro nobody can understand anything at the speed you deliver your information. For understanding purposes you defited yourself,I'm just saying.thanks anyway
Okay but what if you're on disability and your yearly income is only $11,000. I owe $60,000 left on my house but how much would I have to pay that down to get my cosigner off my loan?
I understand your point but also understand these are the same guidelines that they’ve had the entire time. This isn’t anything new and yet the system seems to be working fine.
@@JebSmith yes but people didn’t need to spend at the top of what they are approved of 2-4 years ago now people are maxing out on what they are approved for just to get into a tiny house that’s not in the ghetto
✅ - Get a Referral to a Mortgage Lender or Realtor - www.jebsmith.net/referral
🏠 - First Time Home Buyer Course - www.becominghomewise.com
⏩ Watch This Next ⏩ - NEW FHA Loan Requirements 2024 - First Time Home Buyer - FHA Loan 2023 - th-cam.com/video/CApGLR5u6j0/w-d-xo.html
this made me feel way more comfortable about being able to qualify for my first home with my wife 🙏
Best of luck!
Thanks for the notification Jeb smashed the thumbs up good stuff 😊
Appreciate you
First view. Thank you Jeb.
👊
Very good info!
Glad it was helpful!
Great Content
Appreciate the support
Me and my wife make about 180k a year gross, 13k monthly gross. 3k debt monthly without mortgage,, 5626 with (hopefully) future mortgage. Thoughts?
I think the title should be how much you can qualify, and not how much you can afford. Buying a home should not bring stress, and financing 47% of your income into a home leaves very little, if any, for savings, emergencies, and investments.
That's fair.....................the problem is that title won't perform as well!
Thanks for the advise Dave. Unfortunately there is no houses that are less than 40% of the average income. I live in arizona and anything that isn't already falling apart is easily over 330k.
@ISILENTNINJAI I completely understand, but just because the situation is bad doesn't mean you have to put yourself in a bad financial state. You can buy a starter home, or keep saving until you're ready.
Set yourself up financially first, and you'll be glad you did. I've seen too many people rush into buying a home because they HAD too, and then lose it because they didn't plan their biggest financial purchase of their lives.
@@Juliozev96 ya just tell people to keep saving cause it's that easy whay if they needed 10 years to be able to save the 3.5% just keep saving while everything keeps going up
Why does Google says that fha requires 31% front end and 43% back end are you dti ratio percent for all scenarios?
not sure but if that's the case then google is wrong.
where you getting 5%, todays FHA mortgage loan rate is 6.21?
Not even close.......you need to find a new lender if you're getting quoted 6.21%
@@JebSmithI've been quoted 6.25 how you say its 5%?
hey im in texas and i got quoted 4.99 interest with FCU it happens
Jeb my lender wants to take most of my savings for the down payment but i want my husband to apply for any programs available and my friends said there are programs available for first time buyers but i cant finf any lenders that dont offer this program and require 1p percent down payment im trying to leave my savings in the bank so i have back up money for the mortgage in case my husband doesn't have work which sometimes he doesn't have work because of the weather any mortgage lenders have these programs?
Bro nobody can understand anything at the speed you deliver your information. For understanding purposes you defited yourself,I'm just saying.thanks anyway
Thank you
Appreciate it 👊
How much do i need to make to afford a 528k home if i give a 5% downpayment?
I make 110k will I qualify? I have rental income too but I rather not factor that in.
Man $50k used to be a decent income in the not so distant past.
Things changed a lot over the last 4 years.
Depends on location too of course.
Okay but what if you're on disability and your yearly income is only $11,000. I owe $60,000 left on my house but how much would I have to pay that down to get my cosigner off my loan?
How much you can afford buying home if you make $34,575 a year please
@@wislydesir8356 hopefully you can qualify for affordable mortgage, income based if available in your city or state. Some have land trust.
This use to be middle tier upper middle class income 😢
Unfortunately, it's not anymore!
Yeah if this is really how the banks are lending, then we have lose lending all over again people won’t be able to keep up with all the bills.
I understand your point but also understand these are the same guidelines that they’ve had the entire time. This isn’t anything new and yet the system seems to be working fine.
@@JebSmith yes but people didn’t need to spend at the top of what they are approved of 2-4 years ago now people are maxing out on what they are approved for just to get into a tiny house that’s not in the ghetto
I can afford a blanket
blankets are nice to have.
So basically a broken down shack with a nice shiny tarp for a roof lol
too funny!!!!!