(Learn Exactly) How to Buy a Home with $1,000

For years people have felt like they can't get ahead much less save money to actually own a home. Stop saving your money. Instead, pay down your credit cards if you have credit card debt and get your credit score up to 620.

After being on the job for two years and showing proof that you have the income to pay a mortgage payment plus you have a minimum of a 620 credit score you can buy a house.

A mortgage company will look at your income and your debt to determine your debt-to-income ratio. If they meet the guidelines you buy. If not they will show you exactly what to do and the timeline in which you could accomplish it.

Many foreclosures can be purchased for just $1,000 out of pocket.
Select your city to see the list of every foreclosure in your your area.

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*DISCLAIMER* The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with a financial advisor or lawyer. I may earn commission from purchases made through links in this post.

[diablos]

The problem isn’t the down payment, the problem is that basic homes are selling for a half of a million dollars…

[Redac]

I used the USDA loan to build a house in 1994 on 1/2 acre of land. It was a dream come true. My down payment was $500. I could not believe this was available back then. I still own the house.

[tonysilke]

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[BennieY.Jenkins]

Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.

[calebowens]

One minor detail left out. The location of the house has to be in a rural area classified by the USDA. They have maps on their website

[moyoroque]

We bough my home this same way just before I turned 21 about 13 years ago best decision in my life thank you for helping people out

[cryengine_x]

i got a usda loan, my realtor hooked me up 15 yrs ago and man did he do an awesome job. no down, no pmi, great rate...if it werent for him i'd have no idea it existed

[luisperez]

actually really proud to have an employee like you as part of the team. The job is done so gracefully and neatly. Very well done, dear BsnsFunding . First of all. Thank you for making the work environment so friendly and taking your responsibility seriously and completing the work gracefully! You deserve so much.

[JoshySaucy]

Hello Everyone, I hope this message finds you well. I live in Arizona and just purchased my first condo. Paid 205k for a 1 bed 1 bath in a decent neighborhood within walking distance of everything. My credit pulled at 759 and qualified for a 30 year fixed at 7.125%. Received 3% concessions from the seller and a $2, 500 grant. Over all it cost me 6.5k including the 6.1k for the down payment and $400 in loan cost. I’m very grateful to be a home owner with a payment I can manage. These home prices are insane though.

[robertbartholomew]

Bought my first house in 2020 with a USDA loan. When I got the loan, there was also a rebate that came along with it, that would first be applied to the closing costs, and any remaining amount of money would go straight into my pocket if there was any left over. My understanding has been that the rebate is a standard part of a USDA loan. For me, the closing cost on my home was $10, 500, and I received a $9, 700 rebate, so I only paid $800 to get into the house. Sure, I do have a PMI payment attached to the cost of my monthly mortgage, but it's only about $90 give or take a few dollars. When I bought this house, the lowest rental prices I could find in my area were about $2, 100 a month (but most were $2, 300+) and even with the PMI payment attached to my mortgage, I'm instead paying $1, 900 to own a property on an acre of land and my own water well. Would I have preferred to have 20%+ down when I bought? Sure, but I'm still not at all regretting getting into this house.

[TheBrianV]

I've been in real estate for 34 years and didn't know a lot of this. Thanks Wayne

[morganjcody]

Yep he is 100%. I’ve done it twice. Get seller credits and you can get closing costs lower.

[lqfpgyx]

some people that dont know anything about real estate would think you need 1000$ total to buy it but 1000$ is just the down payment for the loan

[oliviaralston]

Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life..

[SagaciousBodie]

Be careful people, if you're worried about paying more than $1k down, know that a house like that in my area is going to cost you $3k per month mortgage. Don't be impatient!

[thejasminefamily]

Single homeless mom of 3, I needed to see this video! Thankyou

[Monkiesutt]

Here’s the catch.. you might have $1000 to purchase it, but will you have the $3500 for the monthly payment to pay the loan

[yvonnemvquire]

Love, love, love Wayne and hearing his knowledge on homes❤

[KekeKenned]

This is true, I bought a brand new house up on the USDA loan. And I put no money down at all with the 650 credit score. Fix rate with the 4.25 interest rate

[TampaCatGirl]

I almost didn't listen to this video, but so glad I did! Great info on this program that I hadn't heard before. You've got a new sub. Thank you, you are awesome!