What Is The Best Mortgage For First Time Home Buyers? (2024)

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[KapukWiwis]

After watching this video now I understand when people say “I wish I can go back to the old days” I had to finish this video with a beer everything has gotten so expensive

[saltystitchez]

Thanks for the update Javi! We are looking to close in August or September so I've been wondering what our best options are for this year.

[DinoJagger]

This video is everything I needed an more! thank you

[OB__]

Thanks Javi, for all the great insight. I’m actually working on my RE license license so that I can become a more educated buyer when my husband and I are ready to purchase a home…This really pushed me to get that after the NARs settlement. 😅 Wish us luck! (Also, we will be trying to finance with a VA loan)

[fremendy]

Thanks Javier, what if it's an investment property let's say a duplex multifamily home that you won't be that santimantal about it, what will you suggest in this case?

[cristinacarrion]

I would love to see a video discussing home buying strategies for people who are relocating into the USA from other countries because they have acquired permanent residency.

[diptikaur]

Hi javier, very helpful video. Do you get paid from the relator referrals?

[kinghazythethird]

Thanks Sounds good Javier.
Since listening to you I have paid off my car and saved 10k for my emergency fund. Now I’m ready to save up for a down payment and will go FHA so I can have a house by December 🎉

[acaaew]

I am waiting to close on a townhouse on April 15th and we somehow got a FHA loan at 5.75%. They didn’t buy down the rate and all we put down was the standard 3.5%. What also blew me away is that my credit score is only 670 and my wife’s is in the low 700’s and I’m the breadwinner.

We had also went on contract on another home in early march that fell through because of some dry rot that the HOA wouldn’t give a date for repair and they wouldn’t allow the seller to pay out of pocket to fix it (it was maybe $1000 of damage that needed to be repaired). FHA loans require no dry rot and they couldn’t get us a conventional loan with our dept to income ratio. On that loan we were quoted 6.9% which is what I would have expected on the new home but whatever, it’s saving me several hundred a month.

[capsule]

I have a FHA for my condo.
I know the 43% doesn't include HOA, but thought I'd work out the math for fun and I'm within $6 of that 43% of monthly gross income
good times

[rickyal]

Gm sir, is that normal the seller is a corporate LLC and they decided to hold the escrow account and choose the title company? I'm just wondering...

[Dead_Link]

I have plans on building a home. Waiting on property, pay it off then get a construction loan. I’ll get a loan to pay the construction loan. Would they see me as first time buyer and get some benefits from it? Which loans don’t allow this?

Could I get down payment assistance?

[enoch]

In my experience in order to get a good deal you basically need to go conventional to compete. Many sellers dont want to bother with fha.

[rasheedgilmer]

One correction: if the loan is between 2-5 years old, you need a 75% LTV to get rid of PMI with no improvements. After five years, then its 80-20 LTV.

[edlup]

I wish he would’ve compared VA and FHA

[gregayiman]

Your information need to be updated. PMI on FHA is now based on the loan balance meaning it does go down over the years.. by the time you reach 20% paid of with conventional, your fha pmi will be under $100. Even with that the pmi difference doesn’t make up for the interest difference.. as of right now, april 2024, FHA is just straight up better than conventional for EVERYONE that doesn’t put 10 or 20% down.. until conventional interest get closer to fha interest.

Also you are wrong about DTI. Fha allows for higher DTI then conventional.

Love your videos but yeah this one was not great, lots of wrong information, use an amortization calculator with today’s rate and correct pmi prices and you see that fha is better for most.

[akland]

If you are a veteran, VA home loan by far. No PMI and as little to 0% for down payment.

[darkbathe]

what number do you get on the sides for your haircut? lmk

[rickyal]

Im closing on May 15, I kearn a lot from ur videos man, ppl think Im a realtor when Im talking. 3 percent Conventional including Florida Bond Program, in Margate FL, yeah i know Florida Margate is crazy

[pokemoncollectibles]

Take from the video- were filthy animals to the banks 🧐 your videos are always golden lol