VOTE to get corporate America out of residential homes. We can not continue to let companies like Black Rock and Zillow to buy entire neighbors and rent those homes back to us.
I agree corporations should be out of residential homes. It’s frustrating seeing entire neighborhoods bought up by big companies-thanks for sharing your thoughts and watching.
It sounds like you did a great job securing your home! With an FHA loan and your income, managing a $1,550 mortgage is a solid accomplishment. Thanks for sharing your experience!
In other words most people can’t afford even a starter home. Most people don’t make anywhere near 75k a year. In my area you can’t find a basic starter home for under 300k.
Thank you for this video! I have watched several videos on the DTI ratio on TH-cam, and yours is the best. You were detailed and explained everything eloquently. Thank you.
Housing markets can be tough, especially in high-demand areas. Consider expanding your search radius or exploring different loan options like FHA or USDA to increase affordability.
The example for FHA since it does have a front end ratio of 46.99% and back end of 56.99% would be as follow : $75,000 / 12 = $6,250 Front end: $6,250 x 46.99% = $2,936.87 Back end: $6,250 x 56.99% = $3,561.87 Now take back end and subtract debts: $3,561.87 - $900 = $2,661.87 Which ever of the above results yields the least is your answer! So your max allowable mthly pymt or PITIA is $2,661.87
Don't forget the down payment which was like 3 and a half percent if you qualify for FHA. There's also a farm program in one of the agencies and you don't have to be a farm, just in the right area.
my pitia is $6k, sounds kind of high, probably should not base anything on gross income bc its too misleading to think that is an affordable number. I get FHA does that, but I wouldn't ever pay 6k a month for a house .
I made 50k and brought a 190k 10% down. Now I'm at 80k. Mortgage is about 28% of my take home. Didn't allow my increase in pay to increase my lifestyle spending. Able to save ~45% of my income and invest.
Middle Tennessee is unattainable under 100k salary. There’s simply no inventory under $350k that isn’t in an extremely high crime area or a 2+ hour commute into Nashville. Lots of folks are moving just across the Kentucky line where homes are half the price they are in TN. I wonder why homes are so much cheaper there?
I used to commute from near the Sam’s club at I-24 in M’boro to the Nashville airport area in 2015, it was taking 1 hour both directions back then and times were trending up. How long would that commute be now?
You can't buy a house in my area for less than 500k unless it needs a full remodel. Even trailers are 250k. I bought my house for 199k 6 years ago. Its worth 550-600k now.
Hey bro! I just stopped by to say I'm happy your channel is growing and thank you. I used your knowledge and advice to buy my first home in 2020! Keep spreading positivity and great content 😁
Man I love being in the middle of nowhere. Now 60k houses are 120k. Still somewhat affordable. House prices everywhere else is so crazy. 1.35m gets up one of those fancy mansions with a guest house here. Nearly 16 acres too. Crazy.
It's great that you can still find affordable options in your area! Real estate prices can vary so much by location, but it sounds like you're in a good spot for both value and space.
Hey I wanted to tell you Thankyou ! I was able to buy a home usda loan and your videos were the most accurate that I watched and easy to understand. I truly thank god for this channel and discovering it !
Where will you will find a $275k house in a 50% save neighborhood and if you maybe lucky you’ll find one it’s definitely will be more then 3 hours away from work, schools rating are 3% and you can’t go out after 6:00PM. Hey the main problem now is the interest rate for mortgage and cars loan that reach 25% this insane
I just purchased a home for 30,000 at a tax sale in NC. House will need to be rehabbed but I'm up for the challenge so maybe another 50 to 75 to rehab.
Congrats on the purchase, Pam! Tackling a rehab can be a great investment-just make sure to budget for any unexpected costs that might pop up. Good luck!
@@sensei9084 Actually, the bid started at 10,000 and went up to 30,000. at some of these auctions there may only be two or three people who show up for these auctions. On the day (9/6/24) that I went there were about ten people which is why I ended up getting the house for 30. I purchased a 4 1/2 acre vacant lot in 2022 for 13,000 and now have it on the market listed for 150,000. Do your research. North Caroline has the best auctions because the redemption period is alot shorter. In my state the redemption period is at least six months which means it will take that amount of time before you may take possession of the property.
Good morning, I'm a new subbie and I shared your videos with my sister who is preparing to start her home buying process. My question is do you have a dedicated video on purchasing a Manufacture home, renting rent space from a mobile home park. Both new built and pre owned, hope this makes sense, and thanks again 👍🏿
@WinTheHouseYouLove Thank you and quick question, if I may?. If the house is appraised higher than the listing price, can the seller change the asking price to the new appraisal price? Hope that makes sense and thanks for responding 👍🏿
In 2010, I purchase a home for $175k. I put down $50k to push my rent as close to an apartment single bedroom of $625. My income was at around $2500. I did not include my wife's income because she work part time and school. She probably get $1200/month. I took my sister's suggestion of 25% mortgage, 25% property tax/utilities/food/maintenance/insurance/entertainment, 50% saving. After 3 years of discovering banks tactics on interest payment, I pay in full. I am now debt free. My suggestions to new buyers is to try to finish paying off. My other suggestion is to buy for yourself and significant other to old age. DO NOT BUY FOR KIDS. Thinking buying for kids would make the house bigger in size and accrued more expense on house payment. Buy for yourself and significant other.
Thank you for sharing your experience and insights! It's great to hear you were able to pay off your mortgage and provide thoughtful advice to new buyers.
Just recently bought a 4 bed 1.5 bath for that exact amount , 2 of us living here. Older home, so we replaced a few things here and there, but there was a newer roof so it wasn't so bad.We make a little over 75k combined. Conventional. Got 10k downpayment assistance, which paid for breaking our lease mostly. Interest rates are apparently lower now, but it was more about timing and less stress for us. It very much depends on where you want to live. I'm in Central FL and I have to tell you it was definitely slim pickins lol.
Thank you Kyle! Not actively looking to buy now, but I wanted to ask when income includes a base+bonus+equities, how do lenders typically calculate gross monthly income? Given that can vary YTY.
Lenders usually take an average of the past two years of your bonus and equity income to calculate your gross monthly income. They’ll look at your pay stubs, W-2s, and sometimes tax returns to make sure it's consistent.
I totally understand your frustration. Home prices can vary greatly by location, and the challenge of finding something affordable close to work is very real. Thanks for watching.
Great video as always! I’ve noticed a number of the Debt to Income Calculators available online include current rent payments in their calculation- what gives?
Do you have a video explaining the new Buyer's Agreement Laws? I am getting ready to start veiwing properties, but don't want to be stuck with someone I won't feel comfortable with.
I feel bad for the people who’s minimum houses cost them 400/500 k I’m moving to Indianapolis and they have a decent amount of houses around the area for 200/250k
Housing prices can vary greatly depending on the location. Glad to hear you're finding more affordable options in Indianapolis! Thank you for watching.
Definitely! Mobile and manufactured homes have come a long way and can be a solid affordable choice. If you're looking into financing, you can check out your options here: www.winthehouseyoulove.com/lender.
I’m going to get pre-approved for a mortgage within the next month. The bank I’m hoping to use as my lender has several branches. Should I go to the branch in my hometown where I have banked for years, or should I use the branch that is closest to the area I will be buying a house? They are only 45 minutes apart so does it make much of a difference?
Either branch can handle your mortgage needs, but going to the one where you’ve banked for years might give you a more personalized experience since they know your financial history. Ultimately, choose the branch where you feel most comfortable.
Buying a home is a luxury not an investment. Unless you’re buying to rent it as a business then yes it’s an investment. Otherwise it’s a luxury with these sky high prices.
So is your pre-qualification only with ServBank? I think previously you mentioned the application is ran to multiple banks, sort of like a broker? And we choose the best offer?
That’s literally my house on the thumbnail. Just a different color 😭😭. We purchased it about 6 months ago. Massive garage and 1650 square feet of living space. Massive rear deck as well for 374k. Is that a good deal guys ?
Sounds like you got a lot of space and features for the price! If the home meets your needs and you feel happy with your purchase, that's what truly matters.
Because most aren't made by loan officers, like I am. You won't be renting once you have a mortgage. So including rent in DTI is silly. No mortgage considers rent in the DTI.
Prices have changed a lot since 2017! It might be a good time to reevaluate your options-check out our Max Purchase Price Calculator to see what's possible now at www.winthehouseyoulove.com/maxprice.
The cheapest houses for sale in my area are in the $430k’s so what you’re saying is I’ll never be able to buy a house. Great America is a terrible place.
I have a question. I availed a state funded loan program or the Down Payment Assistance on top of my VA loan . So this loan have a second lien forgivable after 3 years. With this though the interest is higher than the VA rate. I just didn’t have the cash to close at that time but if I save up every month I could come up with the amount. Now with the second lien which is $6,500 and with rates dropping, I’m thinking about refinancing. So, I’m thinking about slowly paying off this $6,500 instead of waiting for 3 years. Does it make sense for me to pay it off if it’s forgivable after 3 years? Do I go ahead and pay it off or wait til 2027 because it’s free. But at the same time it isn’t free because the interest makes up for it.
In my opinion, it would be best to wait for it to be forgivable and then refinance. With where rates are headed, it’s likely it will still make sense to refinance at that point.
@@WinTheHouseYouLove i see thank you. I’m trying to math it but my math aint mathing. Is it worth paying at 7.35% monthly until 2027 or pay off that 6k and refinance to a lower interest via VA IRRRL? That 6k will be paid towards principal. Im sorry im trying to picture out the numbers and compare
The monthly payment you're mentioning sounds a little high for a $170K loan, depending on interest rates and other factors like property taxes and insurance. It might be worth exploring your options and comparing quotes at www.winthehouseyoulove.com/compare to ensure you're getting a good deal.
@@WinTheHouseYouLove Your comment doesn't move the conversation. The prices are outrageously high and real estate agents push FOMO on buyers for a bigger commission check.
In California, if you make $150k per year, you could generally get approved for a home priced between $600k to $750k, depending on your debt, credit score, and down payment. Reach out to us for a more customized approval number.
@@WinTheHouseYouLove wouldn’t that be true for every state? If I make the same 150k in Texas I should be able to qualify for the same amount, what changes is the size of the home
It sounds like a lot is being deducted from your paycheck, possibly due to tax withholdings or other deductions. Check your paystub and W-4 form to ensure your withholdings are accurate.
Honestly I end up paying taxes every single year so they aren’t withholding that much from me. And I don’t own any home or have kids or a business. Just this job.
Home prices being this high is totally artificial and criminal. In a world that made sense, they need to fall 50%, but the boomers and now institutional investors wont allow it.
The truth is no you cant afford something that would take several life times to ultimately pay off unless inflation destroys the loan value but in that case just leave for a country not failing. Fuck this Im leaving for russia.
275k will get me a crackhouse no roof included where i live. Oh also it would be 3hr commute from my job 😂.
I came here to say exactly this
I hear you, Marcel! Housing prices can be crazy depending on where you live.
@@marcelrodriguez2067 😂
😂😂😂😂😂
@@YaBoyDave215what city do you live in so I can check
VOTE to get corporate America out of residential homes. We can not continue to let companies like Black Rock and Zillow to buy entire neighbors and rent those homes back to us.
I agree corporations should be out of residential homes. It’s frustrating seeing entire neighborhoods bought up by big companies-thanks for sharing your thoughts and watching.
I make $60k gross and bought a townhome on an FHA loan for $203,500. My mortgage is $1,550.
How much down payment? Do you pay HOA? if so, how much?
It sounds like you did a great job securing your home! With an FHA loan and your income, managing a $1,550 mortgage is a solid accomplishment. Thanks for sharing your experience!
In other words most people can’t afford even a starter home. Most people don’t make anywhere near 75k a year. In my area you can’t find a basic starter home for under 300k.
@@stillwaters4097Oklahoma?
Interest rates are projected to trend downwards in the next 2 years!
In other words people don't think about buying a home until prices drop about 40-50%
It can be tough to buy a home in a volatile market, but waiting for a 40-50% price drop isn't always practical.
It's never dropping
Well 40% price drop won’t happen lmaooo
@LannyGood Yes it will if no one is buying.
@@RossLemon boomer gen $ and inheritors of that $ will forever prop up this market
Thank you for this video! I have watched several videos on the DTI ratio on TH-cam, and yours is the best. You were detailed and explained everything eloquently. Thank you.
Thank you so much for the kind words! I'm really glad you found the video helpful.
All the homes in my area are over $300k. Houses for sale under that amount require cash.
Housing markets can be tough, especially in high-demand areas. Consider expanding your search radius or exploring different loan options like FHA or USDA to increase affordability.
Yikes, so sad.
Got a big 3/2 house for $160k with big yard. 10 minutes from work❤
That sounds like a great deal, especially being so close to work! Enjoy your new home! 😊
@@Bippityboppityboop Bippity Boppity, Where you at?!
The example for FHA since it does have a front end ratio of 46.99% and back end of 56.99% would be as follow :
$75,000 / 12 = $6,250
Front end: $6,250 x 46.99% = $2,936.87
Back end: $6,250 x 56.99% = $3,561.87
Now take back end and subtract debts: $3,561.87 - $900 = $2,661.87
Which ever of the above results yields the least is your answer!
So your max allowable mthly pymt or PITIA is $2,661.87
Absolutely correct! Your calculations align perfectly with FHA guidelines. Thanks for breaking it down so clearly for everyone!
Don't forget the down payment which was like 3 and a half percent if you qualify for FHA. There's also a farm program in one of the agencies and you don't have to be a farm, just in the right area.
my pitia is $6k, sounds kind of high, probably should not base anything on gross income bc its too misleading to think that is an affordable number. I get FHA does that, but I wouldn't ever pay 6k a month for a house .
I made 50k and brought a 190k 10% down. Now I'm at 80k. Mortgage is about 28% of my take home. Didn't allow my increase in pay to increase my lifestyle spending. Able to save ~45% of my income and invest.
Wow, that's impressive! Keeping your lifestyle consistent despite the pay increase is a smart move. Thanks for sharing your experience!
🎉
Imagine paying it off. You in a bigger surprise.
No more hassle of house payment. The load on your back has lighten up.
Middle Tennessee is unattainable under 100k salary. There’s simply no inventory under $350k that isn’t in an extremely high crime area or a 2+ hour commute into Nashville. Lots of folks are moving just across the Kentucky line where homes are half the price they are in TN. I wonder why homes are so much cheaper there?
It's frustrating when local housing prices are so high and the inventory is limited. Thanks for sharing your perspective and for watching.
lol Lexington isn’t cheap
I used to commute from near the Sam’s club at I-24 in M’boro to the Nashville airport area in 2015, it was taking 1 hour both directions back then and times were trending up. How long would that commute be now?
You can't buy a house in my area for less than 500k unless it needs a full remodel. Even trailers are 250k. I bought my house for 199k 6 years ago. Its worth 550-600k now.
I hear your frustration, Judah. The housing market has definitely changed a lot over the past few years. Thanks for watching.
Hey bro! I just stopped by to say I'm happy your channel is growing and thank you. I used your knowledge and advice to buy my first home in 2020! Keep spreading positivity and great content 😁
That's awesome to hear! Thanks so much for your kind words and for sharing your success-congratulations on your home! 😊
Man I love being in the middle of nowhere. Now 60k houses are 120k. Still somewhat affordable. House prices everywhere else is so crazy. 1.35m gets up one of those fancy mansions with a guest house here. Nearly 16 acres too. Crazy.
Where do you live?
It's great that you can still find affordable options in your area! Real estate prices can vary so much by location, but it sounds like you're in a good spot for both value and space.
Where is this at 😊
Hey I wanted to tell you Thankyou ! I was able to buy a home usda loan and your videos were the most accurate that I watched and easy to understand. I truly thank god for this channel and discovering it !
I'm so glad to hear that the videos were helpful, and congratulations on your new home! Thank you for your kind words and for watching!
Yw! 🥳
Where will you will find a $275k house in a 50% save neighborhood and if you maybe lucky you’ll find one it’s definitely will be more then 3 hours away from work, schools rating are 3% and you can’t go out after 6:00PM.
Hey the main problem now is the interest rate for mortgage and cars loan that reach 25% this insane
I understand your frustration with the current market and interest rates; it can feel overwhelming. Thank you for sharing your thoughts.
I just purchased a home for 30,000 at a tax sale in NC. House will need to be rehabbed but I'm up for the challenge so maybe another 50 to 75 to rehab.
Congrats on the purchase, Pam! Tackling a rehab can be a great investment-just make sure to budget for any unexpected costs that might pop up. Good luck!
@@pamking5711 how is that possible?
@@sensei9084 Actually, the bid started at 10,000 and went up to 30,000. at some of these auctions there may only be two or three people who show up for these auctions. On the day (9/6/24) that I went there were about ten people which is why I ended up getting the house for 30. I purchased a 4 1/2 acre vacant lot in 2022 for 13,000 and now have it on the market listed for 150,000. Do your research. North Caroline has the best auctions because the redemption period is alot shorter. In my state the redemption period is at least six months which means it will take that amount of time before you may take possession of the property.
Good morning, I'm a new subbie and I shared your videos with my sister who is preparing to start her home buying process. My question is do you have a dedicated video on purchasing a Manufacture home, renting rent space from a mobile home park. Both new built and pre owned, hope this makes sense, and thanks again 👍🏿
Thanks for watching! I don’t have a video on that, but I’ll add it to my video list :)
@WinTheHouseYouLove Thank you and quick question, if I may?. If the house is appraised higher than the listing price, can the seller change the asking price to the new appraisal price? Hope that makes sense and thanks for responding 👍🏿
In 2010, I purchase a home for $175k. I put down $50k to push my rent as close to an apartment single bedroom of $625. My income was at around $2500. I did not include my wife's income because she work part time and school. She probably get $1200/month.
I took my sister's suggestion of 25% mortgage, 25% property tax/utilities/food/maintenance/insurance/entertainment, 50% saving.
After 3 years of discovering banks tactics on interest payment, I pay in full. I am now debt free.
My suggestions to new buyers is to try to finish paying off. My other suggestion is to buy for yourself and significant other to old age. DO NOT BUY FOR KIDS. Thinking buying for kids would make the house bigger in size and accrued more expense on house payment. Buy for yourself and significant other.
Thank you for sharing your experience and insights! It's great to hear you were able to pay off your mortgage and provide thoughtful advice to new buyers.
yeah, all the houses for 275k or less near me are like 1k sq feet and not in great shape ...
I hear you, the market can be tough! You might want to explore nearby areas with lower prices or consider fixer-uppers that you can gradually improve.
Very informative and easy to follow
Thanks so much! I’m glad you found it helpful!
You can not buy a decent House for only $187k.
I hear your frustration, Cathy. In many markets, $187k might not get you much; it really depends on your local housing prices. Thanks for watching!
I just bought my first home in CA for 219k with conventional loan my mortgage is 1600, single income at 72k a year
Congrats on your first home purchase! It sounds like you secured a great deal, especially in California.
@@dg8676 mobile home?
Needed this video. Thanks!
Glad to hear it was helpful! If you have any more questions about home buying, feel free to ask!
Just recently bought a 4 bed 1.5 bath for that exact amount , 2 of us living here. Older home, so we replaced a few things here and there, but there was a newer roof so it wasn't so bad.We make a little over 75k combined. Conventional. Got 10k downpayment assistance, which paid for breaking our lease mostly. Interest rates are apparently lower now, but it was more about timing and less stress for us. It very much depends on where you want to live. I'm in Central FL and I have to tell you it was definitely slim pickins lol.
Thanks for sharing your experience! It's great to hear how you navigated the market with down payment assistance and found a home that works for you.
Thank you Kyle!
Not actively looking to buy now, but I wanted to ask when income includes a base+bonus+equities, how do lenders typically calculate gross monthly income? Given that can vary YTY.
Lenders usually take an average of the past two years of your bonus and equity income to calculate your gross monthly income. They’ll look at your pay stubs, W-2s, and sometimes tax returns to make sure it's consistent.
so pretty much no home unless you earn $200K/year
I understand your frustration with current home prices.
The median house price is way above that and in my state Georgia , such a house be in the neck of woods-far away from your work and all else.
I totally understand your frustration. Home prices can vary greatly by location, and the challenge of finding something affordable close to work is very real. Thanks for watching.
Great video sir.
Thank you, Juan! Glad you found it helpful!
Great video as always! I’ve noticed a number of the Debt to Income Calculators available online include current rent payments in their calculation- what gives?
Thanks for the kind words! Not sure why. Rent is never included in DTI
Do you have a video explaining the new Buyer's Agreement Laws?
I am getting ready to start veiwing properties, but don't want to be stuck with someone I won't feel comfortable with.
I don't have a video on that yet, but it's a great idea!
Best explanation ever thanks!
Thanks so much for watching! I'm glad you found it helpful!
Easy to follow. Thanks!
Glad you found it helpful! If you have any questions about home buying, feel free to ask.
Thank you for the information
You're welcome, Kathy! Happy to help-let me know if you have any other questions.
Nice video Kyle!!
Thank you!
I feel bad for the people who’s minimum houses cost them 400/500 k
I’m moving to Indianapolis and they have a decent amount of houses around the area for 200/250k
Housing prices can vary greatly depending on the location. Glad to hear you're finding more affordable options in Indianapolis! Thank you for watching.
Trailer homes are not what they used to be, they're pretty nice now and affordable.
Definitely! Mobile and manufactured homes have come a long way and can be a solid affordable choice. If you're looking into financing, you can check out your options here: www.winthehouseyoulove.com/lender.
I’m going to get pre-approved for a mortgage within the next month. The bank I’m hoping to use as my lender has several branches. Should I go to the branch in my hometown where I have banked for years, or should I use the branch that is closest to the area I will be buying a house? They are only 45 minutes apart so does it make much of a difference?
Either branch can handle your mortgage needs, but going to the one where you’ve banked for years might give you a more personalized experience since they know your financial history. Ultimately, choose the branch where you feel most comfortable.
Buying a home is a luxury not an investment. Unless you’re buying to rent it as a business then yes it’s an investment. Otherwise it’s a luxury with these sky high prices.
Absolutely, with the current market prices, it can definitely feel like a luxury. Thank you for sharing your perspective!
So is your pre-qualification only with ServBank? I think previously you mentioned the application is ran to multiple banks, sort of like a broker? And we choose the best offer?
We broker under Servbank's brokerage division :) So we're licensed by Servbank and run applications through multiple lenders to find the best rate.
@@WinTheHouseYouLove oh okay that’s is good!! 👍
Im in Fort lauderdale Florida, and this seems IMPOSSIBLE!
I understand how frustrating the market can be in certain areas like Fort Lauderdale. Thanks for watching and sharing your thoughts.
That’s literally my house on the thumbnail. Just a different color 😭😭. We purchased it about 6 months ago. Massive garage and 1650 square feet of living space. Massive rear deck as well for 374k. Is that a good deal guys ?
Sounds like you got a lot of space and features for the price! If the home meets your needs and you feel happy with your purchase, that's what truly matters.
$250k is what the average american home should be. $300k for whistles. $200k for rehab. Simple, Americans can afford that. 1 worker.
I hear you, housing prices can definitely be frustrating. Thanks for watching and sharing your thoughts.
150 for rehab
Every calculator I've looked at since this video includes rent in the dti ratio
Because most aren't made by loan officers, like I am. You won't be renting once you have a mortgage. So including rent in DTI is silly. No mortgage considers rent in the DTI.
@@WinTheHouseYouLove I also thought it silly, but that's what the Google results gave me 🤷🏾♀️
I was qualify for 250 k but I only want a 2 bedroom apartment. For 120k. That was in 2017
Prices have changed a lot since 2017! It might be a good time to reevaluate your options-check out our Max Purchase Price Calculator to see what's possible now at www.winthehouseyoulove.com/maxprice.
Did the min for USDA go up or is this based on your Sate?? Or is it based on the highest credit score possible?
USDA hasn’t changed. The minimum down payment is 0% and the minimum FICO is 500; however, most lenders prefer 580 and 640 is required for GUS
The cheapest houses for sale in my area are in the $430k’s so what you’re saying is I’ll never be able to buy a house. Great America is a terrible place.
@@KuriosChristos yeah you’re right
I understand how frustrating that must feel with housing prices so high. Thanks for sharing your thoughts and watching the video.
You never really know how much house you can afford. Why? Because inflation will always outpace wages and we can't control taxes and insurance.
Totally get where you're coming from, it's definitely frustrating trying to balance everything.
I have a question. I availed a state funded loan program or the Down Payment Assistance on top of my VA loan . So this loan have a second lien forgivable after 3 years. With this though the interest is higher than the VA rate. I just didn’t have the cash to close at that time but if I save up every month I could come up with the amount.
Now with the second lien which is $6,500 and with rates dropping, I’m thinking about refinancing. So, I’m thinking about slowly paying off this $6,500 instead of waiting for 3 years. Does it make sense for me to pay it off if it’s forgivable after 3 years? Do I go ahead and pay it off or wait til 2027 because it’s free. But at the same time it isn’t free because the interest makes up for it.
In my opinion, it would be best to wait for it to be forgivable and then refinance. With where rates are headed, it’s likely it will still make sense to refinance at that point.
@@WinTheHouseYouLove i see thank you. I’m trying to math it but my math aint mathing. Is it worth paying at 7.35% monthly until 2027 or pay off that 6k and refinance to a lower interest via VA IRRRL? That 6k will be paid towards principal. Im sorry im trying to picture out the numbers and compare
Just purchased your calculator just because appreciate all the educational video you and Dan are making.
@Win The House You Love - where Do I go to get to the file after my purchase?
Thanks!! It shows the download link on the page right after purchase. You can email me and I can send you another link: kyle@winthehouseyoulove.com
Is 1,300 dollars a month a lot for a 30 year mortgage loan 170K?
The monthly payment you're mentioning sounds a little high for a $170K loan, depending on interest rates and other factors like property taxes and insurance. It might be worth exploring your options and comparing quotes at www.winthehouseyoulove.com/compare to ensure you're getting a good deal.
The taxes are the killer
Property taxes can definitely be a surprise! It's important to factor them into your monthly budget when you're house hunting. Thanks for watching!
There no $275,000 houses.
They do exist, but they should cost $130k. It hurts seeing homes 2 to 3 times they were a few years ago.
@@SariahSavvyTips that's bidenomics
I understand your frustration, Emilio. Market conditions vary widely by location, and prices have been rising in many areas. Thanks for watching.
@@WinTheHouseYouLove Your comment doesn't move the conversation. The prices are outrageously high and real estate agents push FOMO on buyers for a bigger commission check.
How much could i afford in california with 150k gross a year
In California, if you make $150k per year, you could generally get approved for a home priced between $600k to $750k, depending on your debt, credit score, and down payment. Reach out to us for a more customized approval number.
@@WinTheHouseYouLove wouldn’t that be true for every state? If I make the same 150k in Texas I should be able to qualify for the same amount, what changes is the size of the home
This illustration assumes you have $0 debt and not $50K of car loan, student loan, credit cards, and loan debt.
You can see me enter example debts (car, student loan, credit card, child support) at 3 different points in the video:
3:59
9:15
11:48
child support 150 a month ... which village are you getting that amount . 75,000 a year child support is 650 dollars
You can enter your own numbers and the math works the same. I’m not a child support expert, just showing how the math works for mortgages.
@@WinTheHouseYouLove you don't need to be an expert. all province have the table on the court webpage .
ehh I make 101k and my take-home is 4800 a month. lol am I being robbed?
It sounds like a lot is being deducted from your paycheck, possibly due to tax withholdings or other deductions. Check your paystub and W-4 form to ensure your withholdings are accurate.
Honestly I end up paying taxes every single year so they aren’t withholding that much from me. And I don’t own any home or have kids or a business. Just this job.
wife andi gross 135k. we are comfortable with a 365k loan. is this moderate?
Given your combined income, a $365k loan seems quite reasonable.
@@WinTheHouseYouLove thank you sir
I can afford a 3k/month house 🏠 but not even thinking about it until my investment portfolio is at $200,000.
That sounds like a smart plan! Building up your investment portfolio is a great financial goal before taking on a big commitment like a house.
Home prices being this high is totally artificial and criminal. In a world that made sense, they need to fall 50%, but the boomers and now institutional investors wont allow it.
I hear your frustration. Thanks for watching and sharing your thoughts.
The truth is no you cant afford something that would take several life times to ultimately pay off unless inflation destroys the loan value but in that case just leave for a country not failing. Fuck this Im leaving for russia.
I get where you're coming from; the housing market can feel overwhelming. Thanks for checking out the video
Whopays 100 for phone lol
It's true, most phone plans average around $140/month in the US. Thanks for sharing your perspective!