Buying A Home In 6 MONTHS? Here’s Your Gameplan

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— DISCLAIMER —
Kyle Andrew Seagraves is Federal Mortgage Loan Originator (NMLS 1701021) licensed in all 50 states with the Dan Frio Team at Allied First Bank (NMLS 203463), an Equal Housing Lender. Separately, Kyle owns Win The House You Love LLC, an education company. Win The House You Love LLC is not a lender, does not issue loan qualifications, and does not extend credit of any kind. This video is only for educational usage. All calculations should be verified independently. This video is not an offer to lend and should not be used directly to make decisions on home offers, purchasing decisions, or loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, or real estate advice. Seek counsel from a licensed real estate agent, loan originator, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice. Allied First Bank is not affiliated with the VA, FHA, or any other government agency. This video has not been approved by any government agency.

[WinTheHouseYouLove]

TLDR: Planning, preparation, and thorough research are essential for reducing stress and making informed decisions when buying a house.

00:00 🏡 Plan, prepare, and act quickly to buy a house in 6 months without feeling overwhelmed or missing out on opportunities.
04:18 🏡 Clearly define your reasons for buying a home, stick to a budget, analyze your finances, reduce expenses, and guard your headspace to achieve your goal of buying a house in 6 months.
12:10 🏡 Focus on polishing your credit, gather income and asset documents, save for down payment, and be aware of trigger leads to buy a home in 6 months.
17:41 🏡 Talk to a loan officer and get pre-qualified for a mortgage, determine your budget and monthly payment, and consider additional expenses when transitioning from a rental to a house.
24:54 🏡 Start budgeting early, stress test your budget, calculate how much to save per month, and make clear and realistic decisions to buy a home in 6 months.
33:33 🏡 Plan to hold the home for at least 5 years, evaluate budget, research neighborhoods, create needs and wants list, and have a fallback plan in case buying a home doesn't work out.
43:06 🏡 Hire a real estate agent, get pre-qualified, find a home inspector, start organizing moving logistics, schedule showings for homes you like, review comparable homes, make an offer with potential seller credits, and use seller credit to pay closing costs.
54:05 🏡 Plan to buy a home in 6 months by getting conditional approval, scheduling a home inspection, and arranging utility transfers before closing and making your first payment.

KEY INSIGHTS:

Financial Preparation and Planning
🏡 Planning and preparation are key to reducing stress and feeling overwhelmed when buying a house.
😬 Many people underestimate the time it takes to buy a house, thinking they will be buying in six months when in reality they should start preparing within that time frame.
🏡 Remind yourself why you're actually purchasing a house so you don't get swept up in the fear of missing out and emotion.
💳 Focusing on polishing your credit early gives you time to work on any problems before buying a house, preventing frustration and difficulties with approval.
💰 It's best to know what your mortgage payment will be before looking for a house, so you can determine your price range.
💰 Getting pre-qualified for a loan is not a test, there's no shame involved, and it's an opportunity to see if you can get qualified now or what you can work on for the future.
📊 Utilizing tools like the max purchase price calculator can help you explore and understand your financial targets when buying a home.
💰 It's smart to have three months of expenses saved after paying your down payment and closing costs when buying a home.

Home Search and Selection
🏡 Many people miss out on buying their dream home because they aren't prepared and passively scroll through listings.
🏡 Give yourself permission to dream and explore homes that are out of your price range, to get it out of your system and feel through it.
🏡 Neighborhood research is crucial when buying a home, considering factors like school districts, proximity to work, and safety.
📝 Allow flexibility in your home buying process, as your first home may serve as a stepping stone to better align with your wants and needs.
🔍 Getting a home inspection is crucial to ensure you're not buying a house that will drain your bank account with costly repairs.
🖥 Realistically look at homes online and visit at least three open houses to narrow down the pockets of homes you want to buy in.

Offer and Closing Process
💰 Structuring your offer with seller credits and other incentives can make your offer stand out in a competitive market.
💰 Making an offer on a house involves a detailed contract with various terms and conditions, not just a simple price negotiation.
🔍 Title search ensures that you're the only owner of the home and no one else has legal claim to your property.

[phuonghuynh]

My number one tip is to shop mortgage lenders!!! I got preapproval from 3 and got monthly payments of 2k, 1.8k, and 1.6k. If I went with my first mortgage lender, - the one my realtor recommended to me, I would be paying $400 more per month for the same house! Shop around! They know you are and don’t feel guilty because at the end of the day, you’re the one making the monthly payments!

[NaJoeLibre]

Started following this as a guideline with a goal of being in a home by May 11, 2024. We found a house and are pending its purchase within TWO MONTHS of starting, and we close on February 1st. He was not kidding when saying the shopping process would be quick. Thanks for this video!

[grbloved]

The one thing I can give advice on - be patient ! We purchased in July 2021 and it was a nightmare. We constantly got outbid - so much so I gave up my Va loan and went conventional sadly. (18k out the door) - Tip: we went to meet the family “walking by saying hi” lol got to know them and they chose us vs others. Sneaky but it got us the house we wanted lol.

[phuonghuynh]

Mine was a 1.5 years plan. I gave up and gave it all to God, and within a week I was under contract for a house. That’s God’s speed. Pray and don’t give up, just give it all to God

[jalitzaa.v]

Your voice is so calming 😌 great video!

[purplej]

For the budget stress test, also consider if the home is going to use more electricity, water, etc and budget for that as well! Could be another $100 a month that you'll spend on that.

[peterpnutz]

Wow. we started our home buying journey back at the end of 2022. There have been major ups and downs. Being honest with yourself and your partner in terms of your financial condition is a major key to knowing where you're at and what you need to do to get to where you want to be. I wish I had this video back then. It would have given us a much clearer picture on the journey we were embarking on. 1 year later... we are still searching but know exactly what we want and are definitely prepared. I had to go through therapy during the first time because of all the blame and stress that was getting passed around. awesome video!

[Tommy-rfsw]

If you particularly like your loan officer or mortgage lender cause they been extremely helpful, don’t be afraid to ask if they can match other offers. I did this when I bought my house and since the mortgage lender was one of the national companies, I felt more secure. The loan officer was extremely helpful throughout the whole process, so I didn’t want to back out if they were able to match other offers, which they did and I ended up with the best offer I could find since they had a grant that the other offers didn’t.

[jademaldonado]

In about 9-10 months I’ll begin the process of starting to prepare to purchase my first house. I feel I don’t even know where to start. I really appreciate these videos! They help out more than you know!

[swethagunasekar]

Kyle, i just want to say, Thank you so much. Your videos have helped me and my husband a lot. Simply put, detail-oriented, no BS.

[veggiesnchill]

I really appreciate the holistic and careful approach you take. I'm planning on buying my first home in the next 5 years and I'm just now trying to wrap my brain around everything it means to buy and own a house. It's so much and the way you thoughtfully break things down is so helpful!

[MzCarolyn]

God please bless me with a new home to purchase and the funds to be able to purchase it. Thank you in advance.

[YoungMule]

I’m far off from home buying season of life but this video will be a hidden gem to come back. Love the step by step process you’ve laid out and a lot can be done ahead of time to prepare! Thanks 🙏

[Jennyesmechavez]

I am so glad I found this video… Thank you so much Kyle. I am just getting into buying a home with my mom and I had no idea where to start. This helped so much! Thank you again!

[Pendragon_afk]

Thanks for another great video. It's a rough world out there with 8% rates.

[passiert]

I was lucky enough to do this last year. We decided to finally look to buy around March, and we were in our new home by August!

[chm]

Make sure you don't owe taxes! or that you have a payment plan for any taxes owed. This will show up during underwriting for sure.

[ShabbaBabba]

The “guard your headspace” slide really hit home for me.

[Jcislrd]

I plan on doing this. I'm a single female but I trust the Lord will be my partner in every step with this. I never owned a home before but I'm determined.