Why Home Prices Are So Sticky | The Hidden Fees Impact
source
Income & Employment Requirements When Buying A House – Conventional Loan 2024
Are you a first time home buyer interested in buying a house using a conventional loan in the 2024 housing market? How much income do you need? How long do you need to be employed? How do lenders determine how much home you can afford? In this video, we are going to discuss the 2024 Income and Employment Requirements, answer some common questions around conventional loans while helping you understand your debt to income. Watch this NEXT ⏩ Conventional Loan Requirements 2024 – https://youtu.be/UNQOAuQwjPI RESOURCES: ✅ – Work Directly with My Team (Mortgage and Real Estate Nationwide) – http://www.jebsmith.net/referral 🏠 – First Time Home Buyer Course – https://bit.ly/4clhsse ✅Subscribe to my local newsletter – https://bit.ly/48LJJp3 🎙- The Educated Home Buyer Podcast – @TheEducatedHomebuyer Spotify – https://open.spotify.com/show/3Ho4sTORqrLYlkBwWUkSBA Apple – https://podcasts.apple.com/us/podcast/the-educated-homebuyer/id1611226020 Other Loan Programs you may consider: FHA Loan Requirements 2024 – https://youtu.be/CApGLR5u6j0 VA Loan Requirements 2024 – https://youtu.be/18bjaFjA_nU USDA Loan Requirements 2024 – https://youtu.be/PHimtCNdJyo What is a conventional loan? A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower. Conventional loans are much more common than government-backed financing. Loan limit for standard and high balance conforming: 1 unit – $766,550/$1,149,825 2 units -$981,500/$1,472,250 3 units – $1,186,350/$1,779,525 4 units – $1,474,400/$2,211,600 Check the loan limits in your area: https://singlefamily.fanniemae.com/media/document/xlsx/loan-limit-look-table Conventional loan requirements 2023: ✅FICO® score at least 620 ✅3% minimal down payment required ✅MIP (Mortgage Insurance Premium ) is required when putting less than 20% down. ✅Debt-to-Income Ratio less than 45%. (Actually you can go much higher than this) ✅The home can be a primary residence, second home or investment property ✅Borrower must have steady income and proof of employment. ✅Assets may be required at closing. I hope you appreciate this update on conventional loans for first time home buyers for the housing market 2024 california as well as this real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith. Please let me know your thoughts below: what are your predictions for the housing market 2024 forecast and the housing market 2024 california? After watching this video, do you believe you should be buying a home this year or is now is the best time to sell a house? Do you believe a house market crash 2024 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate? Jeb Smith (Huntington Beach Realtor/orange county real estate) DRE 01407449 Real Broker I N S T A G R A M ➳ https://www.instagram.com/jebsmith T I K T O K➳ https://www.tiktok.com/mrjebsmith #mortgage #housing #realestate source
This Is EXACTLY How Much Home You Can Afford Using A VA Loan with 100K Income
Are you a veteran first time home buyer interested in buying a house using an va loan in the 2024 housing market but unsure how much home you can afford with a 100K salary? How do you calculate your debt to income based on the VA loan requirements for 2024? In this video, we are going to discuss how much you can afford to purchase making 100K income using the latest 2024 VA Loan Requirements, answer some common questions around VA and show you how to do some basic VA calculations with regard to the funding fee. ⏩VA Loan Benefits Explained https://youtu.be/C3nvQnjU8Ac ✅ – Work Directly with My Team (Mortgage and Real Estate Nationwide) – http://www.jebsmith.net/referral 🏠 – First Time Home Buyer Course – http://www.becominghomewise.com Other VA videos you may find Helpful: ⏩5 Things You Should Know About VA Loans- VA Mortgage – https://youtu.be/QVzfbjVrGVA ⏩Why are Sellers Are Rejecting FHA & VA Loans – https://youtu.be/peGfKdklacE What is a VA loan? A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs Check your VA Eligibility – https://www.va.gov/housing-assistance/home-loans/eligibility/ VA Approved Condo List – https://lgy.va.gov/lgyhub/condo-report VA loan requirements 2024 ✅Active Duty or Served 90 Continuous Days/Met length of service requirements which is generally 90 days in wartime and 181 days in peacetime/completed 90 days of active duty or 6 creditable years in selected reserve or national guard/surviving spouse of a veteran who died while in service or from a service related disability and have not remarried. ✅ FICO® score at least 580 (there are exceptions but they come with a cost) ✅ No Down Payment Required ✅MIP (Mortgage Insurance Premium ) is NOT required on VA Loans. ✅Debt-to-Income Ratio less than 41%. (Actually you can go much higher than this) ✅Condos have to be VA approved ✅The home must be the borrower’s primary residence. ✅Borrower must have steady income and proof of employment. Jeb Smith (Huntington Beach Realtor/orange county real estate) DRE 01407449 Real Broker ➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith ➡T I K T O K➳ https://www.tiktok.com/mrjebsmith #housingmarket2024 #RealEstate #VA source
The Role of Escrow Companies in Real Estate Transactions
source
Real Estate Inventory Set to Grow, More Options for Buyers
source
Boost Your Credit Score to Maximize Homebuying Power!
source
Why Buying a Home Based on Future Expectations is a BIG Mistake!
source
Why You Shouldn’t Let Your Agent Decide | Contingency Periods Explained
source
NEVER Buy A Home In an HOA
Buying A House is the largest investment you will ever make in your lifetime so I want to tell you why HOA’s are bad and why that you should NEVER buy a house in a HOA so you don’t make a HUGE financial mistake. Watch These NEXT 👇 ➡️NEVER Buy These Types Of Houses – https://youtu.be/-Nez9Q16Ui0 ➡️NEVER Buy A House In These Locations – https://youtu.be/Ww-ocL9i21k ➡️NEVER Buy A Home In an HOA – https://youtu.be/qCkjuCrFHjg HOME BUYER RESOURCES: 🏠 – First Time Home Buyer Course – http://www.becominghomewise.com ✅ – Work Directly with My Team (Mortgage and Real Estate Nationwide) – http://www.jebsmith.net/referral 📧- Sign Up For My Free Newsletter – https://bit.ly/48LJJp3 Connect with me 👇 Jeb Smith (huntington beach Realtor/orange county real estate) DRE 01407449 Real Broker #housingmarket #firsttimehomebuyer #realestate source
Don’t Make This Costly Mistake When Buying a House!
source