I want to thank you Shaahedah!! Your videos prepared me in my home buying process. I just closed last Thursday. I used DAP and a Time to own program in Connecticut. It covered my down payment and closing costs. With this I was actually refunded part of my earnest money back. Your videos allowed me to be knowledgeable in this process as a first time home buyer. Thank you, thank you, thank you!!
This is my favorite 🏡 buying TH-cam channel: It’s always a pleasure to hear good information/ Keep up the great work, P.S. Your hair and skin look amazing 🖤💪🏿📶 God Bless 🙏🏿
Shaheedah you scared me for a second. The thumbnail looks like a picture you put on a t-shirt after someone passes. Glad to see you're well and great information as usual..
Thumbs up. Thank you. This waa so good (as are all of your videos). I have a 72 year-old cousin who wants to buy a house and asked me if I thought she was too old. I said of course not! Thanks for the property tax info. relative to retired folks. 😊
Look into Ephrata, Pennsylvania. I live around there. Some farmers are posting up land for auction. 98 acres… we are located between reading and Lancaster. Most areas around me are turning into town housing development. I see a big change in Ephrata pa. In between new jersey. Maryland and Delaware. Pls check it out!! I can make a video for you!!! The land is amazing. I wish I had the money!
Thank you for these videos,they help me alot on what not to do and the right questions to ask.i need a 2 bedroom house but with my salary I can only afford a 2 bedroom condo because the houses in my area are so expensive what can I do to get the house ???
I like resales because I feel like you get a little more value for your money, but there are pros for new construction as well since everything is new so you will not have to repair or replace anything for several years. But good video idea.
So I'm buying a home, I got the pre approval, now my bank is saying in order to finalize and get me a final approval I had to have the money for downpayment and closing costs in my account. Isn't that odd? Don't I just need the money on closing day?
You don't need the money until shortly before closing so this is not unusual to get final approval when you are under contract and through underwriting. Watch my underwriting video
It would only benefit the buyer, so they would be the one buying down the rate, but they could use funds that the seller contributes and funds they contribute. Thanks for watching!
Shaahedah, I bought my first house in 2021, fast foward to now and I'm struggling to make the house payments. My question is, if the house goes into foreclosure, how long would it be befor I could purchase another home?
You will have to wait 3 years after foreclosure. But don't let is foreclose, you can sell, rent it out, airbnb,. You have options. Do you have equity? If you need an agent referral email me info@shaheedahhill.com. But in this market your only option should not be foreclosure.
Are we supposed to get pre-approved by the 3 lenders on the same day to prevent hard credit pulls? Or when does a hard credit pull happen in this pre-approval process?
I never recommend specific lenders, unless I get a sponsorship deal 😂, but I do recommend you start with these 3 1. A lender your agent recommends, 2. Your current bank or credit union 3. An online bank or mortgage broker.
Keep very good records and put any cash tips in the bank regularly. Also make sure you include all your income on your tax returns. Thanks for watching.
Hi Shadeedah! Thank you for what you do. Me and my husband are in the market for a home. Do each of us need to get a separate pre-approval or do we get it done together?
If im a w2 employee but also do instacart 1099 on the side for 2 years which i have filed taxes on too I can use this for income as well ? . Moving to a different state as well .
So the definition of FIRST time home buyer 🏡 is liquid and/or fluid 🤔 that sounds like it depends on the market 🧐and just how thirsty lenders are😒you say what about housing discrimination 😳 we live in America 🇺🇸 and race relations are currently on ten (10) or should I say negative 10🤬
It is really just a concern of you are getting down payment assistance some require you to be a first time buyer, meaning not having owned a home for the last 3 years. Other down payment assistance may only require that you do not currently own a home.
I have a question on the cob sites It have the charts for interests and says that 3 lenders offer this % and 2 offer that %. Is there any way to see who the lenders are? Love you your channel
When you say to get 3 quotes. Can you expand on that in a future video. Say I am working with Rocket. You are saying I should get 2 more quote... ..wiil that hurt my credit score? and does it cost any money? Do you do this BEFORE you actually find the house you want..... or you do it in the beginning? Are quotes and approval letters the same thing
Let's say if you were with rocket mortgage, get 2 more from 2 other lenders as well, so you can compare the best rate and best options for you. It will be at 3 to 5 point on your credit score one time only. There is no cost as long as you do. The quotes within the 14 day period and approval. Letters and quotes are not the same thing. You will only get the approval letter. Once you picked a lender and you have successfully passed application with whoever you choose to go with.
Ms. Hill also recommend to get a quote from your personal bank and a credit union. Make sure to get THREE quotes before deciding. Like previously mentioned, if you get all the quotes within two weeks (give or take), it counts as one inquiry (3-5 credits lost). Good luck.
I think the ladies did a really good job answering your question. Quote/pre-approval same thing as I speak of them in this video. Pre-approvals are free from lenders, like it was free with Rocket. If you get them all in a short time period it will only count as one hard credit pull. Here is a good video to watch about the pre-approval process th-cam.com/users/livecpewL4OlpjQ?feature=share and here is the hard credit rule explained - th-cam.com/users/livecpewL4OlpjQ?feature=share
I’m supposed to close on a home in a couple weeks but i have doubts that we’ve gotten in way over our heads financially. Is it just too late to back out
It is not too late since you are not closed yet, but there will likley be consequenses to getting out of your contract, like possibly losing your earnest money deposit. So speak to your agent and let them recommend the best way to get out of your contract with the least amount of finacial damage to you.
Hi shaeedah all my respect to you my case is perfect credit I’m self employed no money down first time buyer is the a way that I can buy a house? The rent in my state is way more than the mortgage in other places
You have to show 2 years tax returns and profit loss statement if you claimed to many deductions it will hurt you say you state you make 100,000 but claimed 80k you only made 20k profit and they will use the 20k im variable imcome i basically got to bite the bullet and not claim the deductions so they can use most of my self employment income along with my w2 income always ask more questions regarding your situation look up Jennifer Beeston ahe is licensed in 48 states get on thr calendar so you can see where you stand hope this helps
You can find some 100% financing mortgages or USDA possibly if you don't have any money to put down, but you should get pre-approved as early as possible becuase as the young lady posted above, depending on how you are filing your business taxes and income, sometimes self-employed people have a difficult time qualifying for the amount they want.
Please make sure to do your due diligently well before adding someone to a deed. To me, adding somone to your deed doesn't benefit the person who owes the home in anyway. Actually, it only hurts them. But if it's your spouse, I get it. When you add a name to the deed, you are granting shared benefit of the property with that person without them any financial responsibility in paying for the house. You can not sell, refi or do anything with the home without the person being in agreement. The person can stop you for selling the house but they can take you to court and the judge will rule in their favor to sell. I have seen too many people add someone to their deed (spouse, sibling, boyfriend) and it backfires / ended up a mess or in court. Adding someone to the deed almost NEVER benefit the person on the mortgage. If the person is living with the owner and helping pay for the mortgage, said peron and the owner can agree on how much percentage of the equity the peron helping to pay the mortgage should get, see a layer and put it in writing. When you sell (on your term), you give them the money. You might think you know a person until money gets involves or the dynamic of the relationship changes (no longer vibe like like before). Protect yourself and your assets.
Hi Shaheedah, I would like to ask a question. I plan on buying a house next year. My mother passed this year and left me her house. There is still a mortgage on the house. But the house is nearly paid for. Will that house balance be added to my Debt to Ratio when trying to purchase my new home? (FIRST TIME BUYER) THANKS...
Good question...I am not sure. My guess would be no since it would not show up on your credit report, but if they see payments coming out of your account monthly to pay the mortgage they will likely quesion it. Ask a lender, we have a few lenders in my FB group that can answer for you. facebook.com/groups/HillsFirstTimeBuyers
In Ephrata Pennsylvania we had a high population of people movin in from New York. New Jersey and Virginian. These are also people colors. I also see a small African American church. Very small and the church looks like something from the 1880s. Small white church. Sooo neat to see. But yeah because the mass of people moving in… you see a big build and change in this area. Maybe a very profitable place. To build.
Yes, but they will likely still get paid. If you are having a problem with them, go to their broker - they may assign you a new agent. Look at your contract, if they work under a broker then you are really under contract with their broker.
I wish I would have known about Shaheedah before I chose the lender 🚀🚀🚀I did and used the realtor she recommended. My father is as Vietnam Vet and what they did and were trying to do to him blew my mind!!! I should have known better when one of there quesdtions was about which race he was. th-cam.com/users/sgaming/emoji/7ff574f2/emoji_u1f680.png
![ถามตรงๆ กับ อาจตุพร ทำไม ประเทศไทย ใครเป็นนายก ก็โดนด่า พอออกเเล้วคนคิดถึง!!?? l [Nickynachat]](http://i.ytimg.com/vi/3YFLMXxBGAs/mqdefault.jpg)
➡Interest Rate Website - www.consumerfinance.gov/owning-a-home/explore-rates/
➡My Facebook Group - facebook.com/groups/HillsFirstTimeBuyers
I want to thank you Shaahedah!! Your videos prepared me in my home buying process. I just closed last Thursday. I used DAP and a Time to own program in Connecticut. It covered my down payment and closing costs. With this I was actually refunded part of my earnest money back. Your videos allowed me to be knowledgeable in this process as a first time home buyer. Thank you, thank you, thank you!!
Thank you so much for bringing me along on your journey. Congratulations 🎊
What is DAP?
This is my favorite 🏡 buying TH-cam channel:
It’s always a pleasure to hear good information/
Keep up the great work,
P.S. Your hair and skin look amazing 🖤💪🏿📶 God Bless 🙏🏿
Thank you Curtis and you know we have to do a special LIVE for you when you close 🙂
@@ShaheedahHill Yes Most Definitely 🤓👍🏿
The knowledge you provide is Incredibly helpful ❤️ THANK YOU 😭
You're so welcome!
Shaheedah you scared me for a second. The thumbnail looks like a picture you put on a t-shirt after someone passes. Glad to see you're well and great information as usual..
😆at least it stopped the scroll 🤣 thank you
Thank you!
You're welcome!
Thumbs up. Thank you. This waa so good (as are all of your videos). I have a 72 year-old cousin who wants to buy a house and asked me if I thought she was too old. I said of course not! Thanks for the property tax info. relative to retired folks. 😊
You are so welcome!
Awesome. Thank you soooo much for your jewels.❤
You are so welcome!
VERY good information!
Thank you
In Texas you have to have your spouse on the deed although they are not on the loan
Thank you for this video ❤ I learned a lot from this video ❤
You're so welcome!
Look into Ephrata, Pennsylvania. I live around there. Some farmers are posting up land for auction. 98 acres… we are located between reading and Lancaster. Most areas around me are turning into town housing development. I see a big change in Ephrata pa. In between new jersey. Maryland and Delaware. Pls check it out!! I can make a video for you!!! The land is amazing. I wish I had the money!
Very good info! Thanks!❤️
You are so welcome!
Good information ❤
So nice of you
Good information.
Thanks
This was very helpful
Thanks for watching!
Thank you for these videos,they help me alot on what not to do and the right questions to ask.i need a 2 bedroom house but with my salary I can only afford a 2 bedroom condo because the houses in my area are so expensive what can I do to get the house ???
I did this live about tips on how to find and affordable home - th-cam.com/users/liveJHHmpNb7p_g?feature=share
I love the interest rate website
Great to hear, thank you!
I do have a question which is better a new home or resale? I am a first time homebuyer
I like resales because I feel like you get a little more value for your money, but there are pros for new construction as well since everything is new so you will not have to repair or replace anything for several years. But good video idea.
Please consider talking about this. It was suggested to me that new builds have more programs for first time home buyers, is that true?
Thank you
You're welcome
Good video. This lady knows what she speaks. What is your Facebook group name?
Thanks for watching - facebook.com/groups/HillsFirstTimeBuyers
So I'm buying a home, I got the pre approval, now my bank is saying in order to finalize and get me a final approval I had to have the money for downpayment and closing costs in my account. Isn't that odd? Don't I just need the money on closing day?
You don't need the money until shortly before closing so this is not unusual to get final approval when you are under contract and through underwriting. Watch my underwriting video
Rockmaortgage said the same thing to me. I will watch her underwriting video
They need the money there so they can see where it came from.
As alway SoHelpful thank you
Thanks for watching!
Hello, Is getting a loan through a federal credit Union bank cheaper than other banks.
This is something I’d like to know too
Not always, thats why you want to always get 3 quotes/pre-approvals.
@@ShaheedahHill thank you
Can both buyer and seller buy down interest for maximum rate reduction?
It would only benefit the buyer, so they would be the one buying down the rate, but they could use funds that the seller contributes and funds they contribute. Thanks for watching!
Shaahedah, I bought my first house in 2021, fast foward to now and I'm struggling to make the house payments. My question is, if the house goes into foreclosure, how long would it be befor I could purchase another home?
You will have to wait 3 years after foreclosure. But don't let is foreclose, you can sell, rent it out, airbnb,. You have options. Do you have equity? If you need an agent referral email me info@shaheedahhill.com. But in this market your only option should not be foreclosure.
Estimating the taxes accurately...this is a sticking point
Good info but, what about buying with VA? Do you know about those processes as well?
Here is my VA video th-cam.com/users/livecCS34CQZwnQ?feature=share
Are we supposed to get pre-approved by the 3 lenders on the same day to prevent hard credit pulls? Or when does a hard credit pull happen in this pre-approval process?
Within 14 days, it's only on hard pull, some credit scoring models will say 30 days but to be safe, do 14.
What are some good lenders ?
I never recommend specific lenders, unless I get a sponsorship deal 😂, but I do recommend you start with these 3 1. A lender your agent recommends, 2. Your current bank or credit union 3. An online bank or mortgage broker.
@@ShaheedahHill lol got it. Thank you !!
I just learned you have a Facebook group. 😂
Yes, you should join
➡️My Facebook Group - facebook.com/groups/HillsFirstTimeBuyers
Advice for per diem/prn/as needed workers?
Keep very good records and put any cash tips in the bank regularly. Also make sure you include all your income on your tax returns. Thanks for watching.
Can you add a senior relative such as mother etc to the deed to save on taxes?
Depends in the county, check with your local tax official. In my area they said as long as one person on the deed it qualifies, but it may be by area.
Can u but a home if u are retired on social security is what i would like 2 know. And what would b the down payment in money wise not percentage
Depends on price of the home. For a $100K house, you should be able to buy it with 7K that would likely cover down payment and closing costs.
Hi Shadeedah! Thank you for what you do. Me and my husband are in the market for a home. Do each of us need to get a separate pre-approval or do we get it done together?
Get one together, if you decide you only want to use one person's income to qualify you can take one of you off the loan.
What is the minimum credit score for home buyer?
With some lenders you can buy a home for as low at 580.
May you provide instructions or a direct link for the website please? I can't find the exact page that you're showing when I go to the website.
facebook.com/groups/HillsFirstTimeBuyers
Can you borrow from your 401K to use as your down payment?
Yes, you can but you may pay penalties for early withdrawal so be cautious. Check with your program admin to see what the penalties would be.
If im a w2 employee but also do instacart 1099 on the side for 2 years which i have filed taxes on too I can use this for income as well ? . Moving to a different state as well .
Yes, since you have worked PT for 2 years they should count it. They will likely average out the 2 years.
So the definition of FIRST time home buyer 🏡 is liquid and/or fluid 🤔 that sounds like it depends on the market 🧐and just how thirsty lenders are😒you say what about housing discrimination 😳 we live in America 🇺🇸 and race relations are currently on ten (10) or should I say negative 10🤬
It is really just a concern of you are getting down payment assistance some require you to be a first time buyer, meaning not having owned a home for the last 3 years. Other down payment assistance may only require that you do not currently own a home.
Can my pre approval amount go up after some credit work is done
Yes
@@ShaheedahHill thank you!
I have a question on the cob sites It have the charts for interests and says that 3 lenders offer this % and 2 offer that %. Is there any way to see who the lenders are? Love you your channel
No they do not give the specific companies, but I am assumming with those the buyer is buying down the rate.
When you say to get 3 quotes. Can you expand on that in a future video. Say I am working with Rocket. You are saying I should get 2 more quote... ..wiil that hurt my credit score? and does it cost any money? Do you do this BEFORE you actually find the house you want..... or you do it in the beginning? Are quotes and approval letters the same thing
Let's say if you were with rocket mortgage, get 2 more from 2 other lenders as well, so you can compare the best rate and best options for you. It will be at 3 to 5 point on your credit score one time only. There is no cost as long as you do. The quotes within the 14 day period and approval. Letters and quotes are not the same thing. You will only get the approval letter. Once you picked a lender and you have successfully passed application with whoever you choose to go with.
Ms. Hill also recommend to get a quote from your personal bank and a credit union. Make sure to get THREE quotes before deciding. Like previously mentioned, if you get all the quotes within two weeks (give or take), it counts as one inquiry (3-5 credits lost). Good luck.
I think the ladies did a really good job answering your question. Quote/pre-approval same thing as I speak of them in this video. Pre-approvals are free from lenders, like it was free with Rocket. If you get them all in a short time period it will only count as one hard credit pull. Here is a good video to watch about the pre-approval process th-cam.com/users/livecpewL4OlpjQ?feature=share and here is the hard credit rule explained - th-cam.com/users/livecpewL4OlpjQ?feature=share
I’m supposed to close on a home in a couple weeks but i have doubts that we’ve gotten in way over our heads financially. Is it just too late to back out
It is not too late since you are not closed yet, but there will likley be consequenses to getting out of your contract, like possibly losing your earnest money deposit. So speak to your agent and let them recommend the best way to get out of your contract with the least amount of finacial damage to you.
Hi shaeedah all my respect to you my case is perfect credit I’m self employed no money down first time buyer is the a way that I can buy a house? The rent in my state is way more than the mortgage in other places
You have to show 2 years tax returns and profit loss statement if you claimed to many deductions it will hurt you say you state you make 100,000 but claimed 80k you only made 20k profit and they will use the 20k im variable imcome i basically got to bite the bullet and not claim the deductions so they can use most of my self employment income along with my w2 income always ask more questions regarding your situation look up Jennifer Beeston ahe is licensed in 48 states get on thr calendar so you can see where you stand hope this helps
You can find some 100% financing mortgages or USDA possibly if you don't have any money to put down, but you should get pre-approved as early as possible becuase as the young lady posted above, depending on how you are filing your business taxes and income, sometimes self-employed people have a difficult time qualifying for the amount they want.
Can you add someone to the deed this is not spouse?
You can usually add anyone to your deed
Please make sure to do your due diligently well before adding someone to a deed. To me, adding somone to your deed doesn't benefit the person who owes the home in anyway. Actually, it only hurts them. But if it's your spouse, I get it. When you add a name to the deed, you are granting shared benefit of the property with that person without them any financial responsibility in paying for the house. You can not sell, refi or do anything with the home without the person being in agreement. The person can stop you for selling the house but they can take you to court and the judge will rule in their favor to sell. I have seen too many people add someone to their deed (spouse, sibling, boyfriend) and it backfires / ended up a mess or in court. Adding someone to the deed almost NEVER benefit the person on the mortgage.
If the person is living with the owner and helping pay for the mortgage, said peron and the owner can agree on how much percentage of the equity the peron helping to pay the mortgage should get, see a layer and put it in writing. When you sell (on your term), you give them the money.
You might think you know a person until money gets involves or the dynamic of the relationship changes (no longer vibe like like before). Protect yourself and your assets.
@@obaaAkos02 thanks so much for the information
Hi Shaheedah, I would like to ask a question. I plan on buying a house next year. My mother passed this year and left me her house. There is still a mortgage on the house. But the house is nearly paid for. Will that house balance be added to my Debt to Ratio when trying to purchase my new home? (FIRST TIME BUYER) THANKS...
Good question...I am not sure. My guess would be no since it would not show up on your credit report, but if they see payments coming out of your account monthly to pay the mortgage they will likely quesion it. Ask a lender, we have a few lenders in my FB group that can answer for you. facebook.com/groups/HillsFirstTimeBuyers
If she left you the house and you put it in your name then you cant be a first time home buyer until after 3 years of owning it.
In Ephrata Pennsylvania we had a high population of people movin in from New York. New Jersey and Virginian. These are also people colors. I also see a small African American church. Very small and the church looks like something from the 1880s. Small white church. Sooo neat to see. But yeah because the mass of people moving in… you see a big build and change in this area. Maybe a very profitable place. To build.
Hello,
If aa person has online investments in Real Estate wil that person still get the first time homebuyer credit when purchasing their home? Thanks
You online investments will not impact your first time homebuyer status
Can you fire your agent after you go under contract?
Yes, but they will likely still get paid. If you are having a problem with them, go to their broker - they may assign you a new agent. Look at your contract, if they work under a broker then you are really under contract with their broker.
@@ShaheedahHill so basically I'm stuck with this agent that I don't want anymore? I actually wanted to switch agents...
I wish I would have known about Shaheedah before I chose the lender 🚀🚀🚀I did and used the realtor she recommended.
My father is as Vietnam Vet and what they did and were trying to do to him blew my mind!!! I should have known better when one of there quesdtions was about which race he was.
th-cam.com/users/sgaming/emoji/7ff574f2/emoji_u1f680.png