What is the best LOAN for First Time Home Buyers?

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[ivy]

PMI is kind of just the reality for most people, the average person isnt going to have 20%. I put 5% down on a conventional loan and had a credit score above 800, and my PMI is around $60. Very satisfied with that.

[Praveenp]

Hey Javier, Would love to hear your thoughts on Solar Panels, roofs and power walls and its impact on the valuation of homes.

[schectercexotic]

I got a 30 year conventional at 3.25%… Payment is $1, 074/month Principal, interest, taxes, and insurance. I feel like that’s a decent deal in the market. House is valued at $240k, mortgage is $186k. Planning on being here for 5 years at minimum. Hopefully it pays off, will follow up on this comment in 5 years.

[zachary]

This was an awesome video. I just closed my loan a week and a half ago with a conventional loan. I initially started with FHA but backed out and went with conventional for the long term.

[akland]

If you are a veteran. Definitely utilize that VA home loan. It will expedite the process and without the PMI.

[LifeWithAlliDaily]

This was good. I just want to add that PMI was taken away from VA Loans Now. 💜🥰

[Anthony_Fraire]

Man dude, I was just house shopping. This information, is incredibly vital to me. Very grateful, conventional is the way to go for sure for my particular situation.

[christianandrews]

My wife and I are now under contract 😃, watch many of your videos and it definitely helped!

[petergriffin]

i’m new to this channel and have only watched a few videos but i love this community, we’re all here trying to learn and succeed. i love how so many people also share their own experiences to further provide useful information.

[ganthc]

I was blessed with a USDA loan that got me 30 years fixed 2.5%, zero down in the Austin area. Bought last September, before the housing market really exploded. With interest rates higher, even with MIP of .35%, I’m still likely getting a better rate than what conventional is offering now. Plus my house has grown in value by 100K.

[meseretgebrie]

Thank you for taking your time and sharing what you know.

[sttx]

The best loan is the one you can comfortably afford that offers the best pricing.

Never over-extend or put yourself in a short-term crunch...theres always the principle reduction option.

[alexsteven.m]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[MegaYoungday]

Can’t you just refinance the FHA when your credit get better to get rid of PMI?

[thegalexfamily]

We didn’t get our offer accepted even with much higher offer because we had FHA loan. Then when we got accepted for conventional loan, BOOM it got accepted.

[robleestoychest]

Love the honesty in your video and actually giving good advice. I see you’re not looking out for your own gain and looking out for the real good for people. Good for you sir. Thanks.

[sandramathew]

Amazing! If you live in Texas and if you need information on first time home buyer mortgage then you can contact advisors for your need. Texas homes by Z is amazing if you live in Texas!

[rainbowsunshinekitty]

Wow! This is the first time I've heard that PMI is based on credit score. Good to know. And you helped bring to the front that PMI is basically setting your money on fire every month. It doesn't help pay off the mortgage. So adding that fee up for the years was eye opening. Thanks!!

[Dog_gone_it]

Can you please do a video on what out of pocket costs are related with closing a sale as a home buyer vs what is or could be covered by a loan?

Trying to figure out, myself, what I need to pay and what the loan will cover with closing costs. I know I can easily go to a loan officer and ask, but you're so much better at answering these kind of questions haha 😄

Thanks Javier!

[Briana]

So glad I found your channel. Interested in buying a home within the next 5 years and I’m getting started with doing research, having zero knowledge to start with.