USDA Galveston TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Galveston? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Galveston.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

loan rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Galveston is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

home loan app

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

refinance interest rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

mortgage application

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Galveston.

It has to be a Single Family home in the Galveston area, without a barn structure on the property.

Then it also has some home price limitations.

paying off mortgage

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

lowest mortgage interest rates

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

mortgage assistance

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Galveston – Do You Pre-Qualify?

refinance loan

Hi, Katie the Mortgage Lady with Total Mortgage.

A lot of my borrowers ask me why they should pick me as their loan officer, and it's really so much more than just me doing their mortgage, it's a relationship.

It's earning their trust.

I'm going to be there from start to finish to make sure that they do get to the end of the process and purchase their home.

So if you know someone that needs my help, have them go to www.

Katiethemortgagelady.

Com.

FHA vs Conventional loan

american mortgage

Jason what are the requirements forthe USDA program? so that's going to be looking at a 640 minimum credit score requirement.

there is a income requirement too.

So basically the incomerequirement is about 78,000 if you're in a family of 1 to 4 if you're in a family of 5+ that's gonna go up to about $103,000 on the income limit.

The big requirement for USDA is that it's property specific.

so it's got to be in a USDA Approved Zone Ok, and How much down payment doesthis program require? so it's actually 0% down payment which is Great! Ok Awesome, and how much does the average home buyer come in with out-of-pocket? So because your down payment is covered you're just gonna have to come in withagain your prepaid and closing cost So if it was a $300,000 purchase.

you'd be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA program Ideal for? So this is going to be ideal for the home buyer that's looking for a property in those specific areas.

Ideally it's properties that are going to be rural zones.

So not right in the middle of the city, but maybe if it's more on the outskirts, on a little bit ofland, lower tax rate areas that's probably going to be a property that's eligible and that would be ideal because that one would probably qualify OK, Fantastic.

Thank you Jason No Problem.

mortgage terms

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency DeSoto TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in DeSoto? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan DeSoto.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

mortgage fraud

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in DeSoto is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

american mortgage

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

applying for a mortgage
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

mortgage closing costs

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in DeSoto.

It has to be a Single Family home in the DeSoto area, without a barn structure on the property.

Then it also has some home price limitations.

conventional mortgage

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

jumbo loan

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

refinance interest rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan DeSoto – Do You Pre-Qualify?

champion mortgage

- Hey guys, Austin Schneider here and today we're gonnatalk about USDA loans.

So USDA loans are a government program meant to promote homeownership in rural areas.

Typically the costs aresignificantly lower.

You get into home ownership with this.

Zero percent down, mortgage insurance is significantly less than your FHA loans andyour interest rates too are typically lower than yourtraditional mortgage rates.

They're available fromany mortgage lender.

So you don't have to gothrough a special entity or even the government to get approved.

There are income limitson this type of loan.

So you need to make sure you qualify because they are meantfor the medium earners.

And the loans are geographically based.

So the home that you're purchasing must be in an eligible area but most suburban areas are.

And if you're a home buyer, if you're thinking about buying a home I encourage you tocheck this one out first before you jump right into conventional because you may be surprised.

For more on this topic,for more about USDA loans click the link in the description.

Thanks so much for watching and we'll see you on the next video.

USDA Loans | How To Get 100% Financing in NC & SC

mortgage company

Hey Mark Albert here, so glad you're withme today.

Today for the very first time on my youtube channel I get to discussfake news.

I love it.

So pay attention it's gonna be prettyexciting.

Private lenders stress test.

This is new and it's unsubstantiated.

Bigword.

At least five or six syllables.

Let me tell you if you know how manysyllables in that word please write down below so I tried to figure out that fiveor six words syllables.

Fake is one syllable.

News is one syllable.

This isfive or six.

Its unsubstantiated and we're gonna look at that together.

First of all lenders in Canada there's three categories.

There's A lenders, Blenders, C lenders.

A lenders where you get your best rate you need your best creditscore.

Need at least six hundred fifty credit score.

You can do that at fivepercent down with an A lender, any of the big banks and many other lenders thataren't part of the big bank series.

B lenders, if you can't qualify with an A lenderyou got to go to B lender.

Credit score you can get away with under six hundredwith some of them.

But you gotta put 20% down.

Slightly differentregulations.

A little easier to get in to qualify based on stress test but you gotto put a bit more down.

C lenders, that is where you're talking privatemortgages.

Private lenders.

So from a credit standpoint it's less importantand why is that? the reason is is because you're looking at an equity loan.

So theloan is based off of the equity on in on the house and so private lenders willlend out based on the amount of equity you have.

And this is pretty helpful forsome people who can't get they need more money and there with an A lenderor B and they need more money for pretty strategic reasons and these guys havehelped people have been stuck in a bit of a pickle.

They've been very veryhelpful for a lot of people.

So you didn't know this probably but privatelending in Canada it's about 10% of the total value of mortgages out there.

So right now all mortgage business is estimated about 1.

5trillion dollars in the mortgage market in Canada and 10% of that isprivate money.

Okay? So on January 25th which is this pastFriday a number of media outlets picked up a story published by Reuters and openlike this, it said "Canada is considering subjecting private lenders to the samemortgage stress test rules faced by banks to prevent housing marketsfrom being destabilized by the lenders rapid growth, three sources with directknowledge of the matter said this" and that's unsubstantiated.

How do I knowthat? Well let me tell you.

There's two things that I'm gonna tell you.

MortgageProfessionals Canada is an organization, they're a really key strategic partner inthe mortgage industry in Canada and I happen to be a member of them.

So theysent me a notice on this.

This is what they did.

They contacted directly theMinistry of Finance from the Government of Canada.

They called out directly andthey spoke to senior ministry officials and they were advised by them that thesereports are unsubstantiated.

Word-of-the-day unsubstantiated can'tsay that too many times in a row I tell ya.

Not currently considering anyregulation on private lending so we're clean right? And that's the firstaffirmation.

Secondly, we got Bill Morneau Finance Minister, he wasspeaking to reporters in Ottawa.

This is what he said, he said this "I'm notcurrently considering any stress test on private mortgage lenders".

There you go.

No stress test.

Nothing being considered.

So what does that mean for us? Well foryou, just know, you want to get if you got to get a mortgage for your house youwant to get an A lender if you can.

Right? If you can't you got to defaultto a B and as time moves on circumstances may be that you may needmore resource and because of the stress test you may not be able to qualify formore money.

But you're already an A mortgage or a B mortgage and you haveequity in your home and if the need is important you should be able to look atconsidering private lending if it meets the need.

If you need to get advice onthat, I'd be happy to, reach out to me my contact information is below.

Listen I hope this was helpful.

Thank you so much for being with me today.

Have yourself a fantastic day.

Looking for to talking you soon.

Bye now.

compare mortgage rates

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Company Grapevine TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Grapevine? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Grapevine.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

interest only mortgage calculator

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Grapevine is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

refinance loan

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

compare mortgage rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

refinance loan

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Grapevine.

It has to be a Single Family home in the Grapevine area, without a barn structure on the property.

Then it also has some home price limitations.

interest only mortgage

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

bad credit mortgage lenders

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

usda rural housing

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Grapevine – Do You Pre-Qualify?

top mortgage lenders

♪♪♪ So my name is Danielle Johnson.

I work in our Washington location and I am a mortgage lender.

My husband and I, Kyle, we live in Kalona with our two children, Faye and Weston.

In our free time, I spend a lot of time with family.

So thankfully, we both have a lot of family in Washington County, so we get to spend a lot of time with them.

And then I also love to garden.

I love to be in the flower beds and the vegetable garden.

Just spending a lot of time outdoors.

So right now, I'm actually teaching a Junior Achievement class at Mid-Prairie Elementary.

I'm also part of the Mid-Prairie Alumni Association.

I'm graduate from there.

And then I also participate at our church.

I started in 2012 with Hills Bank.

Previously I was at our Kalona location as a personal banker and now in Washington as a mortgage lender.

My favorite part about my job is helping people be successful.

That's the best thing, if someone can come back to me and say that because we did this or we did that that they were financially successful, that's my favorite part.

If you have questions, if you just want an update on where you're at in the process I'm available in person, by phone, email.

Just want to make sure that you're in the loop and that you now what's going on.

♪♪♪.

Ryan Venz discusses USDA Loans.

usda farm loans

Today we're gonna talk about FHALoans in 2019 and What You Need To Know.

And we're getting started right now! (INTRO) Hey what's going on! How you doing?! I'm Emmett Dempsey, Mortgage Advisor with Geneva Financial here in beautiful Port St Lucie Florida and welcome to another mortgageand home buying tip.

If this is your first time here, and you want to learn more about mortgages or the home buying process in general; go ahead and subscribe to my channel and ring that Bell so you don't miss anything.

OK.

FHA loans in 2019 what you need to know.

Buying a house with an FHA loan or refinancing to FHA loan could be very very advantageous.

There's a lot of goodpoints to the FHA loan and I'll go over just a few of them.

First and foremost, itonly requires three and a half percent down payment I know I saw a study almost 3/4 of people think you need 20% down.

But for an FHA loan you onlyneed three and a half percent down.

The FHA loan is a very good loan because Icame about, you know, in the '30s after the crash of '29, and back in those dayspeople had to put down at least 50% of the property have a balloon payment soit really cornered off how many people can actually buy a house so this allowedmore buyers to buy more real estate that's why we kinda have the robustmarket we have today.

So again 3.

5% down lower FICO scores you can go as low as 500 FICO some lenders will go down that low from 500 to 579 is 10%down whereas a 580 or above the only 3.

5% down.

Also since it is FHA is insured, you know since you paid a funding fee and mortgage insurance you knowthat's one thing you pay for it allows for very low interest rates so comparedto conventional vs FHA your interest rate will be lower because thethe risk to the lender is insured with FHA mortgage insurance.

Also FHA loans will allow a higher debt to income limit so I've had some FHA loansgo as high as 56% so uh you know usually at 43 45 was that was the cut off what alot of lenders will have an overlay for that.

We go all the way for as longas we can get approval.

So I've had a lot of FHA loans that are you know over 50%that would have never gotten approved anywhere else but our company so that's one thing.

Some of the drawbacks about FHA loans, they do require, you know, there'ssome property requirements, you know , they you know, and they're not as big as asyou would think.

They just require have it be livable like you can havehave any wood rod or anything of that nature of their owner-occupied only soyou do not for fixer-uppers so but there is an FHA program for fixer-upperscalled called the 203K and you know we'll go over that in a differentdifferent conversation so but for a normal FHA loan you have a new goodproperty requirements it's good for you as the buyer because you can have alower FICO lower down payment things like that also at FHA loans allow forall gift funds I've had some FHA loans where my client got a grant from thecity and they paid like a hundred dollars they're actually paid nothing atclosing because I we funded the appraisal and they paid nothing so youknow FHA loans allow some some very creative financing options if youwant to learn about your FHA loan scenarios you know give me a call or go to www.

Dempseymortgage.

Com and put in your info and I'llget back in contact with you and as always you want to learn more aboutmortgages at the home buying process in general go ahead and subscribe to mychannel ring that bell so you don't miss anything thank you so much for watchingand I'll see you on the next one!.

refinance loan

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Spring TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Spring? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Spring.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

mortgage payment

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Spring is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

equity loan

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage fraud
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

daily mortgage rates

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Spring.

It has to be a Single Family home in the Spring area, without a barn structure on the property.

Then it also has some home price limitations.

home equity rates

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

lowest mortgage interest rates

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

lowest mortgage interest rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Spring – Do You Pre-Qualify?

bad credit mortgage lenders

Today we're gonna talk about FHALoans in 2019 and What You Need To Know.

And we're getting started right now! (INTRO) Hey what's going on! How you doing?! I'm Emmett Dempsey, Mortgage Advisor with Geneva Financial here in beautiful Port St Lucie Florida and welcome to another mortgageand home buying tip.

If this is your first time here, and you want to learn more about mortgages or the home buying process in general; go ahead and subscribe to my channel and ring that Bell so you don't miss anything.

OK.

FHA loans in 2019 what you need to know.

Buying a house with an FHA loan or refinancing to FHA loan could be very very advantageous.

There's a lot of goodpoints to the FHA loan and I'll go over just a few of them.

First and foremost, itonly requires three and a half percent down payment I know I saw a study almost 3/4 of people think you need 20% down.

But for an FHA loan you onlyneed three and a half percent down.

The FHA loan is a very good loan because Icame about, you know, in the '30s after the crash of '29, and back in those dayspeople had to put down at least 50% of the property have a balloon payment soit really cornered off how many people can actually buy a house so this allowedmore buyers to buy more real estate that's why we kinda have the robustmarket we have today.

So again 3.

5% down lower FICO scores you can go as low as 500 FICO some lenders will go down that low from 500 to 579 is 10%down whereas a 580 or above the only 3.

5% down.

Also since it is FHA is insured, you know since you paid a funding fee and mortgage insurance you knowthat's one thing you pay for it allows for very low interest rates so comparedto conventional vs FHA your interest rate will be lower because thethe risk to the lender is insured with FHA mortgage insurance.

Also FHA loans will allow a higher debt to income limit so I've had some FHA loansgo as high as 56% so uh you know usually at 43 45 was that was the cut off what alot of lenders will have an overlay for that.

We go all the way for as longas we can get approval.

So I've had a lot of FHA loans that are you know over 50%that would have never gotten approved anywhere else but our company so that's one thing.

Some of the drawbacks about FHA loans, they do require, you know, there'ssome property requirements, you know , they you know, and they're not as big as asyou would think.

They just require have it be livable like you can havehave any wood rod or anything of that nature of their owner-occupied only soyou do not for fixer-uppers so but there is an FHA program for fixer-upperscalled called the 203K and you know we'll go over that in a differentdifferent conversation so but for a normal FHA loan you have a new goodproperty requirements it's good for you as the buyer because you can have alower FICO lower down payment things like that also at FHA loans allow forall gift funds I've had some FHA loans where my client got a grant from thecity and they paid like a hundred dollars they're actually paid nothing atclosing because I we funded the appraisal and they paid nothing so youknow FHA loans allow some some very creative financing options if youwant to learn about your FHA loan scenarios you know give me a call or go to www.

Dempseymortgage.

Com and put in your info and I'llget back in contact with you and as always you want to learn more aboutmortgages at the home buying process in general go ahead and subscribe to mychannel ring that bell so you don't miss anything thank you so much for watchingand I'll see you on the next one!.

Working With the Right Lender | Total Mortgage Minute

fixed rate mortgage

Hey, I'm Carl with Home.

Loans.

What is a conventional home loan? A conventional home loan isa loan that is not insured or guaranteed by theGovernment in any way.

Conventional loans conform tothe National Home Guidelines set by Fannie Mae and Freddie Mac, who are also known fortheir delicious sweets.

Wait, scratch the sweets part.

I think I'm thinking of somebody else, but I can tell you thatconventional loans typically have stricter eligibility requirements and are nothing liketaking candy from a baby.

Who would just take candy from a baby? Who has time to stop and smell the roses? You don't and this isn't even a rose.

For more quick tips likethe one you just watched, visit Home.

Loans.

No.

Com or.

Net and youdon't even need the W's.

It's simply Home.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency Euless TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Euless? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Euless.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

usda loan rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Euless is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

top mortgage lenders

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage qualification
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

applying for a mortgage

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Euless.

It has to be a Single Family home in the Euless area, without a barn structure on the property.

Then it also has some home price limitations.

mortgage assistance

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

va mortgage

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

interest only mortgage calculator

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Euless – Do You Pre-Qualify?

top mortgage lenders

Today we're gonna talk about FHALoans in 2019 and What You Need To Know.

And we're getting started right now! (INTRO) Hey what's going on! How you doing?! I'm Emmett Dempsey, Mortgage Advisor with Geneva Financial here in beautiful Port St Lucie Florida and welcome to another mortgageand home buying tip.

If this is your first time here, and you want to learn more about mortgages or the home buying process in general; go ahead and subscribe to my channel and ring that Bell so you don't miss anything.

OK.

FHA loans in 2019 what you need to know.

Buying a house with an FHA loan or refinancing to FHA loan could be very very advantageous.

There's a lot of goodpoints to the FHA loan and I'll go over just a few of them.

First and foremost, itonly requires three and a half percent down payment I know I saw a study almost 3/4 of people think you need 20% down.

But for an FHA loan you onlyneed three and a half percent down.

The FHA loan is a very good loan because Icame about, you know, in the '30s after the crash of '29, and back in those dayspeople had to put down at least 50% of the property have a balloon payment soit really cornered off how many people can actually buy a house so this allowedmore buyers to buy more real estate that's why we kinda have the robustmarket we have today.

So again 3.

5% down lower FICO scores you can go as low as 500 FICO some lenders will go down that low from 500 to 579 is 10%down whereas a 580 or above the only 3.

5% down.

Also since it is FHA is insured, you know since you paid a funding fee and mortgage insurance you knowthat's one thing you pay for it allows for very low interest rates so comparedto conventional vs FHA your interest rate will be lower because thethe risk to the lender is insured with FHA mortgage insurance.

Also FHA loans will allow a higher debt to income limit so I've had some FHA loansgo as high as 56% so uh you know usually at 43 45 was that was the cut off what alot of lenders will have an overlay for that.

We go all the way for as longas we can get approval.

So I've had a lot of FHA loans that are you know over 50%that would have never gotten approved anywhere else but our company so that's one thing.

Some of the drawbacks about FHA loans, they do require, you know, there'ssome property requirements, you know , they you know, and they're not as big as asyou would think.

They just require have it be livable like you can havehave any wood rod or anything of that nature of their owner-occupied only soyou do not for fixer-uppers so but there is an FHA program for fixer-upperscalled called the 203K and you know we'll go over that in a differentdifferent conversation so but for a normal FHA loan you have a new goodproperty requirements it's good for you as the buyer because you can have alower FICO lower down payment things like that also at FHA loans allow forall gift funds I've had some FHA loans where my client got a grant from thecity and they paid like a hundred dollars they're actually paid nothing atclosing because I we funded the appraisal and they paid nothing so youknow FHA loans allow some some very creative financing options if youwant to learn about your FHA loan scenarios you know give me a call or go to www.

Dempseymortgage.

Com and put in your info and I'llget back in contact with you and as always you want to learn more aboutmortgages at the home buying process in general go ahead and subscribe to mychannel ring that bell so you don't miss anything thank you so much for watchingand I'll see you on the next one!.

Realtors: How Austin's Lender closes Loans FAST

usda guaranteed loan

Hi this is Scott Hastings with Mortgages byScott, powered by On Q Financial.

You might wonder why I'm standing in the middleof a field and that's a good question.

The reason is I'm talking about USDA loanstoday.

Although this looks like a very rural areaI'm only really about a mile and a half from downtown Davidson.

A lot of people wouldn't think that Davidsonwould have any areas that are USDA eligible but there really are.

A lot of people give me a all looking fora loan where they don't have to put any money down and there's no mortgage insurance, andthat is a USDA loan.

USDA loans are great, the only thing is thatthey are not eligible for all borrowers because of income requirements or caps on householdincome, and they are not available on all properties.

The income requirement is going to be basedon the number of people that live in the house, not just the number of people on the loan.

Most loans are going to go by who is on theloan, so in this case if you have 3 people who live in the house, but only 1 person isgoing to be on the mortgage, the income is only going to be considered, as far as qualifyingfor the loan itself, by the person who's on the loan.

But USDA is going to count the number of peoplewho live in the household.

So if a husband and wife both work, but onlythe husband is on the loan, and if their income together is less than the maximum householdincome limit for that USDA area then they are good to go.

But if together their income exceeds the maximumincome limit for that area then unfortunately they wouldn't qualify.

Also not every home is going to be eligiblefor a USDA loan.

And there's not really a map where you canjust look at it and say "Oh that whole area is USDA eligible".

You have to go to the USDA website and youcan put in the address of the property and it will tell you whether it's a USDA eligibleproperty.

You can also go in there and type in the amountof monthly income the borrower has and see if that household income exceeds the maximumincome requirement.

There are some tips and tricks on gettingqualified for a USDA loan where you might not think that you would normally be eligible.

One is a mortgage credit certificate and certainthings like that so if you have any questions at all about a USDA loan please give me acall.

prequalify for mortgage

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency Port Arthur TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Port Arthur? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Port Arthur.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

compare mortgage rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Port Arthur is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

refinance loan

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage advisor
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

current home mortgage rates

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Port Arthur.

It has to be a Single Family home in the Port Arthur area, without a barn structure on the property.

Then it also has some home price limitations.

refi

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

loan rates

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

loan rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Port Arthur – Do You Pre-Qualify?

best mortgage interest rates

Hello Texas realtor Bubba Bashawwith Austin's Lender and we are bringing it let me tell you what we're doing weare so excited because we are realtor centric our goal is to help you have agigantic spring in summer of sales and we put some things into place to makethat happen the first is prequalmybuyer.

Com.

Allyou have to do is go to www.

Prequalmybuyer.

Com Put in your name your phone numberyour email your clients name phone number email in any notes as soon asthat comes in we immediately are on the phone with your buyer look let's behonest your highest and best use of time is selling real estate not chasing leadslet us help you with that now once that link comes in we're going to talk toyour customer on the phone and we're going to encourage them to do a loanapplication at our website AustinsLender.

Com All they have to do is clickon applying at the top of the screen do over at and when it comes in and theyenter into our program called Floify.

That's our loan flow program and you'regoing to love this because throughout the loan process at each major point youand the customer are going to receive both text and email updates so youalways know what's going on speaking of always knowing what's going on we'vemade another little change when you call our office512-953-7359, every phone rings Somebody is answering your call we arenot going to have voicemail anymore because we are realtor centric andthat's just the only way to be now one of the other great things we have foryour clients with the 640 and higher credit score that are looking for aconforming loan we have now gone to day one certainty and what that means iswhen your customer applies online at AustinsLender.

Com.

They're going toreceive a link asking for permission for us to receive all of their documentselectronically.

No more digging for pay stubs no more digging for banks in it nomore my tax returns in the storage warehouse and I got to get it on Tuesdayof the following week all of that will be brought in electronically throughFannie Mae so when we give you an an approval it IS an approval.

We are notsecond-guessing anything and the best part about day one certainty is FannieMae for years has recorded home valuations across the US.

They have thebiggest database of anybody so in many cases will also get an appraisal waiverwhich means we don't have to were done appraisal so upfront we know that whenwe sent you an approval gets an approval it's not a prequel it is an APPROVAL fora first-time buyer with a 640 or higher credit score and we're doing it righthere in Austin Texas.

We are so excited about our website austinslender.

Comthat makes it easy for your plan to apply it's like follow the bouncing ballit's not a page where you have to fill in a whole bunch of crazy stuff and aska question and they answer yes or no it's so simple once that happens flow fiflow if I follows them all the way through the loan process and sends youtext and email updates every day if we're missing a document like a divorcedecree they're going to get a text and an email every day they can uploaddirectly into their loan file this is the greatest program at all now let metell you one last thing if you have a customer you're close to closing dateand they're about to go on vacation don't worry about it.

Because we haveeclose.

Eclose means your borrower can close they're alone from a laptop onvacation in their pajamas it is so simple because now our title company ourinvestor in a third party called notarized are all on the webinar withthe borrower so they can sign all documents without going to a titlecompany they can even sign the note in the deed a lot of people go oh no youhave to sign the note that you know you know not anymorethey've already been done in Texas we've already done it it's excitingour goal is to make your spring the best you've ever had and I hope that you'llstart by using pre quote my buyer calm it's a great port if you have a customeryou need us to talk to call us 512-953-7359.

We are here to be your lender.

What is a Conventional Loan?

current home mortgage rates

Hi, have you been thinking about getting a reverse mortgage? Well, I'm excited today to tell you about the new reverse mortgage Hi, my name is Richard Woodward I'm a licensed originator and certified reverse mortgage specialist and I can tell you that I am so excited about the new reverse mortgage programs that are on today And they're so much better than the what they used to be when they started out there were some scary things that were attached to them today in the new reverse mortgage you have added protections you In fact, you will never oh more than 95% of their home's value at the time the loans paid off There's some great new protections put into place with the new FHA government insured reverse mortgage.

I'd love to share those with you So I'm going to be doing a series of videos subscribe to my channel and you will learn more about them Let me tell you about one quick scenario Let's say that you're 62 years of age and you are going into retirement and you still have a mortgage on your house Would you like to stop making payments? Well with a new reverse mortgage you actually can you can take out a reverse mortgage pay off that existing mortgage and then use those funds in other ways a Very smart way to use that is to continue paying towards your reverse mortgage Your reverse mortgage will then automatically take those funds and put those in Portion of those funds into a line of credit for you that line of credit is guaranteed to grow at a specific rate Far superior to any savings or cv rates so that one 10 years down the road you'll have money set aside for Emergencies that you can tap into if you want you can use those funds to not take out taxable income from other Saving venues, so there's great opportunities with reverse mortgages and added protection so Again, subscribe to my channel.

Call me at (214) 945-1066 again, (214) 945-1066 and let's look at your scenario I'll do a free proposal for you.

Thanks so much, and I look forward to seeing you in our next video.

40 year mortgage

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Agent Rowlett TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Rowlett? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Rowlett.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

best home equity loan rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Rowlett is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

refi

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

home equity rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

mortgage interest

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Rowlett.

It has to be a Single Family home in the Rowlett area, without a barn structure on the property.

Then it also has some home price limitations.

compare mortgage rates

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

jumbo loan

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

adjustable rate mortgage

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Rowlett – Do You Pre-Qualify?

mortgage bank

- Hi my name is David Young and I'm the Directorof Business Development at RCN Capital.

I'm the person that runs ourCorrespondent Lending Program.

RCN's Correspondent LendingProgram is a robust platform designed to partner withother private lenders in the private lending industry to help them scale their business.

Really we've tried to focus on presenting a robust turnkey platform that helps people scale theirbusiness along four channels, capital, geography, human capital, and technology and infrastructure.

RCN Capital can help inall four of those areas.

RCN is very active in the hard money space with non-owner occupiedresidential real estate.

That includes one tofours and multi-families.

We have three product lines essentially based on term length.

There's a 12 month term product, there's a two plus one, twoyear with a one year option, and there's a 30-yearfixed rental program.

All of those are availableunder a white label umbrella through our correspondentlending platform.

Correspondent lending programis available nationwide.

Anyone can go to rcncapital.

Com.

Scroll down towards the bottom and you'll see a map of the United States showing that we're lendingin almost every state.

RCN seeks to partner witha variety of entities out there operating inthe private lending space.

Generally we connectwith other hard money, private money lenders thatare active in the same space and are looking to expandtheir business in scale, as I mentioned earlier, maybe a need to scalegeographically or with more capital or the other items thatI mentioned as well.

We also can partner undercertain circumstances with other lenders thatare actively lending and it may not be directlyin this exact space right now but would like to expand theirbusiness into a new vertical by getting into theprivate money lending space and non-owner occupiedresidential properties.

We can also consider opportunities that arise with thosetypes of organizations.

A Great Mortgage Lender in Texas!

interest only loan

If the elevator tries to bring you down, gocrazy.

Punch a higher floor.

This is Dan on your inside team at Growella.

It's Monday, July 9, 2018.

Get ready.

It's today's The Mortgage Minute-and-a-Half.

People be like put me in work work work workwork work.

And employers obliged.

Friday, on the ninth anniversary of the endof last decade's recession, the Bureau of Labor Statistics reports that two-hundredthirteen thousand people entered the U.

S.

workforce last month and that's a positivesignal even though not everyone re-entering the force has found an actual job.

Just the act of looking for jobs suggestsconfidence among U.

S.

workers, and confidence leads to consumption which drives the domesticeconomy forward.

The jobs report also showed U.

S.

worker hourlywage growth to be on the downswing, a data point which gave mortgage rates a quick Fridayreprieve.

Slowing wages reduce the pressure of economicinflation and when the pressures of inflation drop, mortgage rates often do, too.

So, take a look at today's live rates andget yourself a quote.

Rates are holding near the lowest in six weeks.

Today's mortgage rates are in the dirt dirtdirt dirt dirt dirt.

Interest rates for FHA loans, VA loans, conforming,USDA, and jumbo -- everything's up to kick off the week.

The rates you get from a lender are customizedand more than a dozen factors go into your quote.

Whether you go fixed or ARM, full fee or zerocost, even your choice of lenders affects the rate you get so talk to two or more lendersand find your preferred combination of rates, fees, and service.

No matter how far you push the envelope, it'llstill be stationary.

And no matter how matter how many times youhear you need twenty percent down to buy a home, it's still going to be not true.

You don't need twenty percent down to buya home.

And that fact makes a data point from EllieMae a little more concerning.

The mortgage software firm asked more thanthree thousand renters: "What's stopping you from buying a home" and the overwhelming answerwas "I haven't saved enough for a down payment".

Of all things, saving for a down payment shouldnot be the thing that stops you from buying.

After all, there are seven government-backedmortgage programs that let you make down payments of less than five percent -- some don't evenrequire a down payment at all.

HomeReady, HomePossible, HomePath, FHA loans,USDA loans, VA loan, Conventional 97.

Then, there are local government programsthat give money to buyers for buying in particular areas.

Forgivable money.

And it's there, if you want it.

So, don't get hung up on the twenty percentdown thing if you want to buy a place.

Lenders don't care so much what you put down.

They just want to know you can make your monthlypayments.

So, talk to a lender and find out what's possible.

You can't know until you ask.

Growella does timely and relevant mortgagenews three times weekly and you can visit the site at Growella dot com for more excellentmortgage and real estate news.

Go on and click the like button.

What's blue and not heavy at all.

Light blue.

refinance loan

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agent San Marcos TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in San Marcos? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan San Marcos.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

applying for a mortgage

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in San Marcos is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

mortgage assistance

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

best home equity loan rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

mortgage application

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in San Marcos.

It has to be a Single Family home in the San Marcos area, without a barn structure on the property.

Then it also has some home price limitations.

mortgage rates canada

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

housing loan

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

best mortgages

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan San Marcos – Do You Pre-Qualify?

refi

Jason what are the requirements forthe USDA program? so that's going to be looking at a 640 minimum credit score requirement.

there is a income requirement too.

So basically the incomerequirement is about 78,000 if you're in a family of 1 to 4 if you're in a family of 5+ that's gonna go up to about $103,000 on the income limit.

The big requirement for USDA is that it's property specific.

so it's got to be in a USDA Approved Zone Ok, and How much down payment doesthis program require? so it's actually 0% down payment which is Great! Ok Awesome, and how much does the average home buyer come in with out-of-pocket? So because your down payment is covered you're just gonna have to come in withagain your prepaid and closing cost So if it was a $300,000 purchase.

you'd be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA program Ideal for? So this is going to be ideal for the home buyer that's looking for a property in those specific areas.

Ideally it's properties that are going to be rural zones.

So not right in the middle of the city, but maybe if it's more on the outskirts, on a little bit ofland, lower tax rate areas that's probably going to be a property that's eligible and that would be ideal because that one would probably qualify OK, Fantastic.

Thank you Jason No Problem.

USDA opening Montana offices during shutdown to help with farm loans

refinance loan

Hello everyone, this is Alejandro Tobon with Total Mortgage.

I'm excited to be able to offer my services for your mortgage needs, whether you're buying a house for the first time, refinancing your existing home, or maybe making some additional investments in your property.

Either way, the objective is simple: work together as a team, professional manner, to help you achieve your goals.

I'm the first Eagle Scout of Troop 3 Central Falls and I'm also in the Pawtucket Teen Hall of Fame.

I'm really excited to be a part of a team that's allowing me to continue to be a part of our community, and its development and progression.

Thank you!.

home loan app

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Eligibility Map Pflugerville TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Pflugerville? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Pflugerville.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

average mortgage

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Pflugerville is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

paying off mortgage

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

refi
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

best mortgages

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Pflugerville.

It has to be a Single Family home in the Pflugerville area, without a barn structure on the property.

Then it also has some home price limitations.

interest only mortgage calculator

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

jumbo loan

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

va mortgage

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Pflugerville – Do You Pre-Qualify?

equity loan rates

I don't want your client's loans.

I don't even want to hear from them.

In fact, I'm gonna show you how to make it so that they never have to hear from me, but they can still get our low rates and our low fees from your preferred lender.

Tt's actually pretty simple.

On your next deal, in fact, on the deal you already have in escrow, get your clients to agree to let you send me these four pieces of information.

I'll put together our rates and fees for their scenario and I'll shoot it over to you.

Then you can take that into your current preferred lender and say, "Hey buddy! Hook my clients up, just this once?" Wait, I said that all wrong.

"Hey buddy! Hook my clients up, Every time!" If they're willing to hook your clients with our low rates and our low fees, every single time, then I don't want their loans.

I don't even want to talk to them.

But if they're either unwilling or unable to do that, then you need to know that we are both willing and able to do that for your clients.

You owe a fiduciary duty to your clients to do what you know is right for them.

If your current lender is willing to do that for them, then stop watching this video.

But if they're unwilling to do that then finish up this video, shoot me a DM on facebook, give me a call, shoot me an email! Whatever it takes, let's get together and do what's right for your clients, every time.

Gary Vaynerchuk on Realtor & Lender Marketing Strategy

best home loan rates

- One of the things we wantedto talk to you, Gary, about was - we focus on bringing value to the agents and doingdirect to consumer.

So, we're doing two different models-- - Of course.

- So one of the thingsthat we are going in on is: a third of the buyers are now millennials.

- Okay.

- In our markets, andof those millennials, all the things we learnedover the past 10 years on marketing actually arepushing these people away.

Right, so we're toldto, when a lead comes in call them x number of times over this period of days and blast them-- - There's not a single personthat wants that phone call.

- No, nobody answers the phone.

So, they actually will fill out an inquiry on a lead page or something and they'll say they're interested but when we call them, theydon't answer the phone.

- What about texting them? - So that's what we've been doing.

I've noticed a littletip: like emails weren't getting opened in personal email boxes.

Work emails are getting opened, but personal inbox has become a wasteland.

- That's right.

- So I've been texting video clips through the service called BombBomb, and then also justsending quick texts asking when they would like totalk, and it's working-- - Imagine talking to people the way they want to be talked to.

- So like, is that what you believe.

what are your thoughts on text? - I'm ALL IN on text.

- Okay.

- I'm very bullish on text,it's why I have first in line.

And I believe in it the most.

Notice how I said, "what about text?" Text.

- So you think in terms ofbuilding a subscription model.

- If you added what your Instagram handle in your lead gen form andsaid in little parentheses "we will follow you on there" and DM you if we're unable to get to you by phone-- - [Neel] Yeah.

- You'll get everybody.

- [Neel] Yeah, and then-- - What you should reallydo on your lead gen form is how would you like usto communicate with you? E-mail, phone, InstagramDM, come to your house, smoke signals, write you a letter? You get a lead gen andthen you've decided through tried and true practicesfrom the 19-fucking-70's this is the industry now to communicate with them butthey don't want to communicate.

If someone called me I would be upset.

I'm upset when people call me.

- [Neel] 'Cause youdon't want a bandwidth-- - Because there's technology.

It's called text me and I'llget back to you when I can.

Not you call me on my time.

We value time.

You should make the leadgens predicated on not just, you should absolutely askthem upfront aggressively how would they like to be talked to.

If you say, we acknowledgemany people now communicate in different forms, how would youlike to be communicated to, one two, pull down, e-mail and Instagram, call and handshake, letter and telegram.

- [Neel] Makes sense.

- It will work.

- [Arjun] And with millennials that's-- - And there's old schoolmillennials that want a phone call.

And there's a 73 year oldgrandma who's hip as fuck.

(Arjun laughs) - Yeah.

- Individuality to how they want it, not just millennials do this, got it? And you have that ability.

That's how the form should be set up.

- So you actually built aservice of--and then for texting is that something they have to opt in for? - Yeah.

- Okay.

- Big time, like, you get theirthing then they gotta opt in and confirm because it'sa very sacred ground.

- It's not a spamming place.

- No, it is not.

- Okay.

Okay, and isthere anything else that you can give us as far asmarketing to this demographic which is becoming a biggerportion of our buyers? - Look, I mean, they'recynical to marketing.

They don't want the fucking-- - [Neel] They don't wanna be sold.

- They don't want thehotshot, I got a Lamborghini and a suit and I'm your real estate guy.

They want authenticity, theywant contextual creative where they live, you know? They want information, they want value, but they're like any other human.

They either wanna beentertained or informed.

Right? - [Neel] Yup.

- [Arjun] Makes sense.

- It's basic, but the problem is you can't run an infomercial anymore.

They don't carethat--there's no 27 year old that thinks it's cool thatyour face is on a bench.

- Yeah.

(Gary laughs) - I mean literally when I seea real estate agent's face on a bench I'm like thatperson is definitely dead.

- [Neel] We'll go on thefreeway and see a billboard where somebody just put up their face and I'm like that's for you,it's not for anybody else.

- 100%, and that's fine too.

- Yeah, that's cool.

- Like, Mazel Tov, enjoy, Iput my face on a billboard back in the day, it's fun, I get it.

The part where they reallylose, believe it or not I'm a little bit funny with outdoor media.

The same billboard cansell for $20,000 and 2,000.

So my opinion changes on that.

- [Neel] So there's a price but it's just not what they're asking.

- Correct, so billboardssell in a funny way.

You'll sign a six month contract and they couldn't sell it to someone else so now the month is there,now they're scattered, they don't want an emptyboard so you can buy it for 2,000 just for the month.

So I like that billboard, here's where I getscrewed up: the content.

So now you've got thebillboard at the right price.

I'll take it.

Yeah, every passenger islooking at their phone, Yes, I don't think billboardsare as good as they were 30 years ago, but you giveme a $20,000 board for 2,000, right, everything's got a price.

- [Neel] Yeah.

- That's how I think aboutmedia, but then creative.

The problem with most real estate agents when they get a billboard is they take their most stock image in a good suit.

Nobody wants to talk to you, Barry.

- [Neel] Yeah.

- [Arjun] Yeah.

- 1-800-Barry will helpyou is fucking 1987.

Why don't you put a billboard that says every other real estate agent sucks? And wear that awesome shirtthat you're wearing now and that will convert way better.

Even though some peoplehate that you said "sucks".

I know what every single banking and lawyer outdoor billboard looks like.

It is a person in a suitwith a tacky phone number.

Can't break through.

You've never seen it becauseyou're so used to it.

- Yeah, it's vanilla.

- Yeah, it's the same thing-- - You get somebody with a Faze Clan hoodie saying "I'm a lawyer andevery other lawyer sucks" and put a phone number they'regonna cream up 22 to 30.

- [Neel] Yup.

- 25 to 35.

Right? - [Neel] Yeah, that makes sense.

- [Arjun] Real estate and mortgage, both these industries moving forward with everything that'shappening in technology and how they're having to adjust to pivot which one feels the impact more? - Both because they're so inherently tied together, you know, both.

- The middle gets eliminated on both.

- Yeah, tech will eliminateeverything in the middle.

Glass doors, people will tell you those sunglasses got eliminated.

- [Neel] I bought these from Warby Parker.

- Correct, you used to goto fucking Sunglass Hut.

- [Neel] Lenscrafters or something.

- That's exactly right.

Got it? The internet wins, welose, now figure it out.

- Yeah.

- If you're in the middle you're finished.

I really believe that.

Nowthe question becomes, when? I'm right about that.

- [Neel] Mhm.

- But if I said this in 1994and you owned a bookstore you'd be like, you got called out first.

Mr.

Bezos came along.

If you were a taxi cab driverand you watched this video for some reason because it hityour fucking Instagram feed and you're like, I run an Internet taxi in 2009 you're laughing at me,that kid doesn't know shit.

And then Uber put you out of business.

- [Neel] Yup.

- The internet will puteverybody out of business if you don't build something defensible.

The only thing that'sdefensible is the best product, the best, and this is thescary thing for people because now they hearthat and they're like, well I'm the best, no you're not.

The best product that's differentiated.

You're just a real estate agent.

There's plenty of people thathave done it for 27 years too.

Or they could be LeBron and Kobe.

I have a funny feeling if I decided to be a real estate agent next year even with my lack of experience that I'd be really good at it.

(Gary laughs) - [Neel] Is that why you got Liz into it? - No, my sister got into it because she always wanted to doit, I mean, I pushed her to make the jump and supported her as she navigated inevitably what a lot of stay-at-home moms navigate which is, you know, you feel a level ofguilt that you wanna do it.

She grew up in an Eastern--Iknow what household she grew up in, onethat's very traditional, Eastern European, momstays home, you know? - [Neel] Yeah.

- So she had to go through her own shit.

The part that I pushed Liz onis her content on Instagram is "I suck, I haven't sold shit.

" - [Neel] But it's real.

Yeah.

- That's gonna lead to allour business, you know? - Yeah, it makes sense.

- Definitely.

- It just seems like justbeing at this conference there's a disproportionate amount of people in a higher age bracket.

People are in realestate and mortgage for, we have no young people in our office, it's all older people thathave been doing it for a while.

And I think they get stuck on-- - Well, everybody's introuble with young right now because everybody young thinksthey're Mark Zuckerberg.

[Arjun Laughs] - [Neel] You can't hire anybody young.

- You can't hire anybody young 'cause they're all starting companies.

We need the economy to collapse.

Then you'll get young.

- [Neel] Yeah.

- When everybody realizes theirdirect to consumer kombucha is not going anywhere,they're going to get a job.

- [Neel] Yeah.

- [Arjun] Punched in the fucking mouth.

- Punched in the fucking mouth.

- [Neel] But theseguys, for a lot of them, everybody is kind of plagued by the shoulda, woulda, coulda's'cause they're in the older part of their life and it keeps them back from future opportunities a lot of times-- - Of course.

- But I saw a piece ofcontent of yours a while back, I don't know, mixed insomewhere that said, you were talking again about how you could have invested in Uber-- - Yes.

- But you don't get yourself hung up on it because you could have doneit and then got hit by a bus.

- I'm glad you--did youlike that piece of content? Super interesting, right? - It just hit me 'cause I'm like, all the mistakes I madebefore, it let you to where-- - It got you to where you are now.

- This is the reason whyyou're at where you're at.

And use that as your fuel to go forward.

- Yeah, and by the way, Icould have been way better.

I mean, I'm prettysmart, that 400 million, it could be great, it could be great.

But it didn't happen.

Until somebody shows me a time machine my ability to look back anddwell is going to be zero.

- Yeah, makes sense.

Let me thank you for doing this too, man.

We got a ton of wine onthe way, I think, so-- - Yeah, what are you gonna do? - He's a big wine guy, I'm not.

- This is why I'm so excited about the barter I did with wine.

- It's a win-win.

- Yeah, but it was always a win-win.

I always loved when I didbarters for books, sneakers, any time I'm sellingsomething I want to barter because I want it todo well and I know that access to me is very valuable'cause you can't get it.

So I always knew I hada market and obviously as I've gotten biggerthe market gets bigger.

I mean, some of theshit I did for Crush It, like buy five books and I'llbe your best friend for a year, I didn't have the same leverage.

So anyway with books what Iwatched a lot of people do was they would buy a thousand books and put it in a warehouse.

Yeah.

Because they just wanted my time.

Maybe they gave away a couple but I don't blame them, they're busy.

If you can buy 1000 booksyou're probably busy, you know? So they're like, thebest use of their time was to put them in the corner.

Wine's going to be different.

Wine, people are gonna do shit with.

'Cause it has a natural currency in our society that's better than a book.

- [Neel] 'Cause clients love it.

- Yeah.

- [Neel] Agents love it.

- And then for me, it wasalways--once I ran the math, buy 4,000 sneakers was worthwhatever I was doing for you.

Buy four sneakers was worthwhatever you just bought, I decided was worth it based on how much pressure I felt to sell it.

What's interesting aboutthat, though, is I'm like, hm, this actually mightreally work for me.

Because I did the trade that was worth it but the backend has more of a residual.

You're going to give it to clients.

They're gonna fucking love it.

They can't get itanywhere else besides me.

It's a direct to consumer brand.

- [Neel] Could be in retail.

Okay.

- So they're gonna go tothe website and order it.

It's just gonna travel better than books.

- [Neel] It works better, yeah.

- Easier to enjoy right away.

- And I'll tell you, andI'm very proud of this, it's a $40 wine for 20 bucks.

- That's fantastic.

- So my hope is that peoplewill be able to taste it.

It's a big Delta.

- Yeah.

- That's awesome, man.

Thanks, Gary.

- Thanks.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Agency Harlingen TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Harlingen? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Harlingen.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

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The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Harlingen is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

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you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

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What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

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So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Harlingen.

It has to be a Single Family home in the Harlingen area, without a barn structure on the property.

Then it also has some home price limitations.

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The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

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Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

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It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Harlingen – Do You Pre-Qualify?

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Hi everybody, Nick Brownell from Total Mortgage here in Newport, Rhode Island.

When you're purchasing a home, you have many choices, whether it's USDA, conventional, FHA, or it could be a VA option if you're a veteran.

So I want to make sure everbody knows, because this is a very common question, that an FHA loan is not specific for first time buyers.

An FHA loan is able to be lent to people for their primary residence.

So if you anticipate on living in a property, you will be able to qualify for an FHA mortgage.

If you want to learn a little more about FHA loans and what they could offer to you, I'd be happy to help.

Ryan Venz discusses USDA Loans.

usda rural housing

Jason what are the requirements forthe USDA program? so that's going to be looking at a 640 minimum credit score requirement.

there is a income requirement too.

So basically the incomerequirement is about 78,000 if you're in a family of 1 to 4 if you're in a family of 5+ that's gonna go up to about $103,000 on the income limit.

The big requirement for USDA is that it's property specific.

so it's got to be in a USDA Approved Zone Ok, and How much down payment doesthis program require? so it's actually 0% down payment which is Great! Ok Awesome, and how much does the average home buyer come in with out-of-pocket? So because your down payment is covered you're just gonna have to come in withagain your prepaid and closing cost So if it was a $300,000 purchase.

you'd be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA program Ideal for? So this is going to be ideal for the home buyer that's looking for a property in those specific areas.

Ideally it's properties that are going to be rural zones.

So not right in the middle of the city, but maybe if it's more on the outskirts, on a little bit ofland, lower tax rate areas that's probably going to be a property that's eligible and that would be ideal because that one would probably qualify OK, Fantastic.

Thank you Jason No Problem.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732