10 FHA Loan Down Payment TIPS AND TRICKS

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Information 10 FHA Loan Down Payment TIPS AND TRICKS

Title	:	10 FHA Loan Down Payment TIPS AND TRICKS
Lasting	:	13.30
Date of publication	:
Views	:	225 rb

Here's everything you need to know about FHA loans so you can make sure you don't run into any issues when you're ready to qualify → youtube/S-v9ZxJevfo
Comment from : Win The House You Love

I'm closing in on my last ten payments to my FHA loan If I can pay the rest of it in one chunk should I do that or should I continue the individual payments (I'm currently 14 years ahead of schedule on payments on a 30yr loan)
Comment from : B-McG

What if I was left cash from a family member who passed away (over 10k), can i deposit that in my bank and use that for a down payment? Also, how long before cash deposits to my bank are usable for a down payment?
Comment from : JV

Wow the $100 HUD program I need to research that more
Comment from : Bridget Hall

Thank you Kyle
Comment from : Silver lane

So, i work under the table at the moment with my dad, (we're working on getting me on the books) but I've been working like this for a couple of years, would i be able to use my fathers payments for my work as "gifts"? He has his buisnisess and invoices other established businesses, that's how we get our pay he cashapps me it and i have the bank with cashapp so i get statements every month
Comment from : RickeyJose

Thank you sir very informational
Comment from : Laurie Kepaa

Hey! I had some questions regarding the FHA loan vs Conventional Is there a way I can email you about them? I just need a bit of guidance and I would appreciate that
Comment from : Arminder Singh

After FHA loan how many year to wait to refinance to a Conventional loans what about PMI ?
Comment from : Roxys Vlog

Great video! I really wish I had known about this ridiculous extra cost of PMI when I bought my house :( I thought I had a lot more towards it than I really did because of closing costs I hadn't known about :( I REALLY want to get out of this- my credit is great now, around 770, my LTV is around 40, my value has doubled from what I bought at, apr is 375 I want to refinance but with rates so high, I'm not sure it would even help now, stuck forever :(brbrWe get multiple letters in the mail EVERY SINGLE DAY to refinance, they often say eliminate PMI or, seasoning period is over etc But with rates a lot higher than what it was when I got my fha loan, I'm probably not any better off going that route :
Comment from : seraphina

5 to 2 mil 20 yr in biz
Comment from : Dr Robinson

so each app I've tried doesn't look good after I remove one half of rental income due to me wanting to live on one side of a duplex How do I account for that? Or will a lender take that into consideration? I wouldn't plan on living there forever so eventually monthly income would increase
Comment from : Julio Garza

Great video first of all as always! However my question is, taking a higher interest rate now since the rates have gone up would that still be a good idea, to lower closing cost? Thanks!
Comment from : Melissa Leach

Are the the person who wrote these documents u made it so easy to understand my lender say a bunch up stuff I really dont understand 🤣💯thanks
Comment from : Lorenzo Diaz

I couldn't listen to your video more than 30 seconds because I can hear your mouth sounds so predominantly
Comment from : Wild West Adventures

Time vs money with the grants that are down-payment and closing assistance Most are disabled and retired elderly on these programs So time wins vs money I'd say no to assistance if it's a property you're looking to flip and make profit But Grants are never paid back if used for intended purposes 😊
Comment from : Thotunew Stildont

They should teach this at school Most schools in the US are useless!
Comment from : Designer Eats

My mans just contradicted himself Around the 11:30 mark, he says free money, but earlier in the video, he says there is no such thing as free money?
Comment from : PhillyEaglesFanatic

Hope you could reply to this one I’ve heard you could get a conventional loan for 5 down, which helps you while sending an offer since it’s not going through an fha loan, it also gives you a bit of leverage of asking a seller to cover closing costSo the question is If you could get a conventional loan for 5 down now why go through an fha loan with 5 down???brI’ve talked to a few friends who have bought houses who put 5-10 down and sellers were opened to cover the closing cost especially since it wasn’t an fha Or is there something I’m missing? Any reply is much appreciated
Comment from : Buddah Kz

Good afternoon
Comment from : Eugene Smith

Down payment assistance you have to stay for 5 years and you don’t have to pay it back
Comment from : Tiaja Bilah

Heyyyy Thank you! Thumbs up and subscribed! I'm Mario How can I use this to buy a fourplex? I just got my real estate license (new to the industry), I still work at my current job (2 years and 4 months) and $30k saved up, a credit score of 730-740 varies month to month, the price range of 4plxes in my area go from $600k to $790k Thank you so much PS: somehow I still think that I'm not going to get approved for the entire amount since my job's income is not that impresive
Comment from : Mario González

I have money saved up, so do I just put it all in savings?
Comment from : LiveNActivBeatz

Can lender's credits go towards down payments?
Comment from : Yes! We_Buy_Houses1

You literally just saved me Am less than two months to closing on a new construction,we had decided to use fha and state housing for down payment but suddenly the down payment program says I made too much money Now I have to come up with 35 percent in less than 2 month,my loan agent is as confused as a mf and your idea about a secured loan is literally the only way am able to save this deal cos my car is paid off n am taking a loan against that Thank you and thank you and thank you so much
Comment from : O’toyin

Besides the HUD website can I narrow a search on the MLS to search for HUD-approved Condos? Also when the MLS says it accepts Fha as proposed financing but the condo does not appear on the HUD-approved website Do I have my lender do a single unit spot approval?
Comment from : Babs Virtual Variety Show

A genuine concern brWill I have trouble using a down payment by using my crypto or stock portfolio - after selling?
Comment from : Jay O

If I was considering using a fha cuz of the 35 down and I'm goin for a 2-4 unit multi family property should I also consider a convential loan with putting 34 down or less cuz I would get mortgage insurance tacked on either way? What would be diff? Which would prolly gimme a better interest rate? My credit is 750-800 and only reason I'm considering the options with lower down-payment is because I think it's a better advantage to keep as much in reserves as possible I currently have 30k in savings and prolly wait till I get 100k(12 months or less from now) before I begin the hunting process I rather keep more money at my ready use for either improvements, vacancies, emergency repairs, etc
Comment from : Money & Muscle

When refi into a conventional, say, after 4yrs, would I still need a massive 20 down? That's what's kind of keeping me at bay as someone with an AGI of only 38,700/yr :/brbrThe 5 interest to make that credit does look appealing though! I didn't know this before, thanks!
Comment from : Porsche Duésnburg

veryyyy helpful
Comment from : K R I S

Great video
Comment from : Provlic

Do I still have to pay mortgage interest premium with 20 down?
Comment from : Suthee K

Question if you know - if you are a real estate agent representing yourself as the buyer, would an underwriter count your commission towards the ability to pay closing costs and down payment?
Comment from : Patrick William

Does the $100 down program impact MIP in any way, or does it just default to the 10 rule?
Comment from : Brandon Fleming

From the time you initiate contact with a lender, how soon is closing on average? And when is the downpayment due?
Comment from : Chris Greene

very well spoken
Comment from : momgosky

Thank you this really helped me understand more about FHA loans and DPA which I rather not move forward with I'm glad you broke it down regarding the FHA loan to Conventional loan We are in the process of buying but we are taking our time Thanks again!
Comment from : Priscilla Aviles

I’m currently looking to buy a house and I was looking into down payment assistance for mostly closing costs but this strategy makes so much sense! I wasn’t thinking long term and you completely changed my game plan in such a positive way!! Thank you!!
Comment from : Maggy Dreamer

Hello I wanted to know if you can please do a video on having a bankruptcy on your credit after 2 yrs And wanting to buy a home What would be the process and best option Thank you
Comment from : Elvin Que

Great video man didn't give many opinions just straight facts love to see it
Comment from : Candyman

Such an amazing video! Very detailed As a training MLO, this helps me learn if I have missed anything in my education What type of camera or video device do you use for your videos? I will be doing YouTube videos soon, and really like the clarity of your videos brbrThanks again! brbrGrey
Comment from : Greyson Drummonds

If I'm in Kansas city and say have like 5k for a 150k house(great bang for the buck here)brWhat are my best options to avoid a down payment assistance program that makes me pay more In long term? I'm 700 credit scorebrbrShould I do the bank of America program you made a video about, or the new Biden down payment assistance grant coming soon(they modified it a lot but I think with the Biden + boa could be crazy good as you can use other grants with the Biden one)brBasically I'm trying to keep my 5k as emergency money, and get the downpayment and closing costs for damn near free without paying more in the long run Any advice on where to start?
Comment from : Joshdubyuh

How do you get a list of Reputable Direct Lenders? TY
Comment from : m ca

Wow! Amazing! You answered all my questions with this video I’m actually house searching now I got pre approved for an FHA loan This video is exactly my situation Thank you so much for your information It’s really helping
Comment from : Lizcawick 2020

I guess you need refinance to get rare of the PMI but isn't it very expensive?
Comment from : Ana Malle

can my tax refund as a down payment and what if the irs sends me my refund in a check and I deposited it into my account os that acceptable
Comment from : The little Simple Things

What about the seller offering to pay for the closing cost?
Comment from : Beatrice Fairbanks Real Estate Agent

Your final advice sounds dangerous: go for a much higher interest rate (5 vs 35), or don't worry about getting the interest rate low because "we'll refinance in just months" That would mean making much higher monthly payments immediately, betting on the ability to refinance to a lower interest rate However, rates are currently at all time lows Also, peoples' circumstances can change
Comment from : Ashton

Valuable content right here Thank you!
Comment from : Kailash Saravanan

I have a crush on Kyle 🥺
Comment from : Salma Sanchez

CAN YOU MAKE VIDEO ON FHA OTC CONSTRUTION LOAN?
Comment from : Tarick Cowan

Is personal leave/vacation buy down considered an unsecured loan for purposes of down payment?
Comment from : Kim King-Maysonet

Thank you so much for your service here Hopefully I can find someone as honest and knowledgeable as you in my area to help me get all that I can out of this I especially loved how you described it being a temporary loan by trying to refinance asap And also about getting money towards the closing costs by increasing the interest rate Is that something most lenders will typically allow? I'm sure they won't mention it unless someone asks about it lol Your video was empowering to me, and now I feel less intimidated and more confident about being able to pull this off Hopefully I can find someone willing to explain more, like does the higher credit score even really matter if you still have late payments within the past 12 months Thanks again, wishing you well from Philadelphia!
Comment from : Dominick Cacchio

I appreciate you very much for your content! Thank you ‼️
Comment from : Shony Ross

Hi Kyle, can you please advise on how does the bank determine how much of a loan you can qualify for? Thank you
Comment from : Angela Walker, Realtor

Can I get a second property with an FHA loan if my current property remains my primary but I will spend 50 of my time in the second home (note that my primary is a conventional loan) The secondary property most likely will be 50 miles away
Comment from : Kyle Thomas

How do you can pay less property taxes whith fha cuz you have to pay monthly to the banc and to tha state because of property taxes so I don’t think is a good business!
Comment from : Kenny Moncada

Can you explain about when it’s appropriate or necessary to borrow from a 401k/457B in terms of the loan application timeline? I’mbrNervous about a large amount of cash mysteriously appearing in my account and not being able to be approvedbrbrThanks for this video! So helpful!
Comment from : Alvishia D Johnson

Thank you for breaking this down you do a great job at explaining this in a simple easy to understand way
Comment from : Luis Reyes-Camacho

DPA sucks, as far as the cost in the long run and many times you're limited as to the area
Comment from : LuisF

Question!! brbrWith boosting to a higher interest rate to obtain credit for closing costs fees, would that increase the monthly mortgage payments?
Comment from : Jose Lopez

Solid advice!
Comment from : n _loc

Nice tips on taking a higher interest rate in order to get credit to pay closing costs Thank you!
Comment from : AVOfutbol

Love your channel sending it to all my boys
Comment from : C Grant

Why do agents treat you like you did something wrong with this loan?
Comment from : ray conley

Here's the thing In order to refinance into a conventional loan, one of the requirements is that you have to hold 25 equity in the property Right?brThat makes taking a 5 interest rate instead of 35 extremely risky What if the market drops and you don't get to that 25 equity for another 5 years? You'll be stuck with that property as your primary residence, making much higher payments than you otherwise would, and locked out of any other FHA loans during that time I'd rather fork over the $3k if I have it and keep my options open in case the property loses value or I have trouble getting to $25 equity
Comment from : Ballwiz 23

You make it really easy to retain the information with your clear real world scenarios !! You just gained a subscriber:)
Comment from : Nika Siamashvili

Thank you for your videos! Just a question, what if you can’t reach that 720 credit score but you have equity and would like to refi into a conventional loan? Just thinking because life happens
Comment from : Renee

How would a lender know if I borrowed money from an unsecured loan for my down payment?
Comment from : Human Being

I check online but I just wanna be sure , can I save money at home and use that for my down payment?
Comment from : Scarface

Great video The way you explained things 👍🏼👍🏼👍🏼Can you elaborate on the credit towards the closing cost? Thank you
Comment from : Yasiale Lopez

Plus thank you for your tips!!!
Comment from : Garcia Only Jesus

I just got accepted for a loan and because my husband’s credit we got a FHA loan, we are being already checking houses but it looks so difficult to buy a house with FHA Loan when we are trying to buy it from another person, it looks like our realtor told us maybe we are going to move to new houses now since it will be more easy for us what do you think about it?
Comment from : Garcia Only Jesus

If you can help it, don’t ever go FHA
Comment from : Nai Yang

Question for anyone that is familiar! I’m looking into a house that includes a triplex The triplex covers all expenses of the house Would it be wise to go with the higher interest rate or pay the closing cost fees? I have the money to pay the closing cost but I like the idea of having the extra money if needed Any advice would be appreciated! Thank in advance!
Comment from : MLR97

I've heard of people using credit cards though
Comment from : Eddie

Great video lots of information would it be possible to still own a home if you have some type of debt?
Comment from : Victor Penilla

Is it true they use FICO 4 score is this the only one they could use
Comment from : C Adkins

Would pulling the money from a savings source like Ally work? That is where im holding a large amount of my money to save for my down payment
Comment from : Morganly

What about 0 Interest Homebuyer down payment assistance? You start paying it after the mortgage is paid off or after 30 years which ever comes first
Comment from : One Dollar Tou Cents

What about the fhamip?
Comment from : Diego Gomez

should the gift money be in your account before the pre-approval process or is it okay if you get it during that process?
Comment from : 6mcube

I really like this iPad and speaking concept
Comment from : Kev M

If I borrow 25k to 30k from my 401K will the lender still want to see my checking account statement? And will that loan from my 401k effect my DTI?
Comment from : Lilly De Jesus

You got the worst handwriting ever! But thank you for your information
Comment from : evelyn vega

When you say ask the lender to pay for closing costs in agreement to increasing the interest from 35 to 50, is that including the down payment as well? Great informative video btw!
Comment from : Scott Crichton

Great video! Can I get an fha loan with a qualify credit score and student loan debt?
Comment from : Alisha Rigby

⭐⭐⭐⭐⭐
Comment from : ITS ALL BUSINESS

Hello sir I would like to ask you questionbrI have 0 debt,credit score 699 but I am currently collecting unemployment due to Corona virus I drove uber last 3yearsbrCan I get fha loan while not working? If no due to income can I use cosigner? Kindly provide detail answer pleasebrThank you Boss
Comment from : ITS ALL BUSINESS

This is fantastic! I thought we were years from home ownership We can do this NOW!
Comment from : Mark Homiak

Thanks for this I’m looking to buy next year
Comment from : GraphyteTV

Thanks for the amazing info
Comment from : StayTrue3291

What about money that is in the stock market If I sell shares to make the down payment is that ok?
Comment from : Be Cool

Very informative! You got yourself another subscriber
Comment from : big cryptid

Increase interest rate to avoid closing cost -> Refinance to a conventional loan to minimize interest rate 3 month12 months Is this right? brbrIf so, brIs there any additional fees I can expect to incur when refinancing? brbrCould you also explain points or direct me to a link that explains this further? brbrThank you so much
Comment from : David Kwon