🙄 When you try to use an FHA loan in this market... #realestate #fha #buyingahouse

An FHA loan is a great way for new home owners to buy a home with a super low down payment.

Unfortunately, it also comes with a lot of requirements and makes deals more complicated. And in a super hot market, it means the seller will likely take someone else's offer over yours.

Instead of going the FHA route, try going for a conventional loan! We were able to purchase our home with just 5% down!

Try it! Otherwise, you might get slapped by your REALTOR 😂

#realestate #fha #buyingahouse

[Ahn.]

Keep a job 2 years, 630 credit minimum, and a couple grand in you bank account. Got a 3 bed 2 bath for $170, 000, 912 a month, and only spent like $3, 500 to close. 3 years now and its nice.

[blakepeyton]

please don’t make “informative” post when you have no idea what you’re talking about. it’s literally the opposite, an fha loan is way easier to qualify for than a conventional loan

[angelarohr]

Did you seriously just say that an fha is HARDER to qualify for!!!!??? 😂😂😂😂

[kylevebar]

Make 90k a year, 780 credit, and 50k towards 300k house, got rejected

[robertwilsoniii]

This is propaganda. Young generations need FHA loans to get desirable houses. This guy is a realtor pushing conventional loans to boost his own cut.

[fanclubavengers]

Im look home $341000
I have $85000 down
Interest rate 5.5
Monthly $1963

[seanlovesrealestate]

Were you able to get your offer accepted with an FHA loan?

[devyntakestheworld]

Something to note here: All loan programs have different qualifying standards but the difficulty to qualify is based on the family’s situation. For example, a family could have a hard time qualify if they exceed income limits, or loan amount limits. Conventional with 5% down would require mortgage insurance until the loan reaches 80% LTV, which FHA always has regardless of LTV, but can be cheaper than conventional mortgage insurance. And though there are markets where for some reason, sellers look down on FHA offers, that is strictly market dependent, and it’s the realtor’s job to truthfully advise and clarify any perceived risks when selecting an offer! I’m a lender that works in all 50 states so this is just my unsolicited 2 cents and hope it helps! I’m a big fan, and love your content brother! Keep educating and assisting!

[lucasasselmeier]

5% on a conventional? Not a lot of banks are with that. If you get denied by fha (which the government backs up, ie less risk for the bank). Why would they give you a less secure loan with the same down payment? This appears to be cap

[slickghost]

FHA loans are backed by the government incase you fail to be able to pay, literally the point of securing payment for the owner that's selling. Make sense.

[AndersonRamirez-pqzj]

Make 65k and 600 credit, got accepted lol

[cheyennethomas]

Is it bc FHA loans are longer process ? If it’s the same amount idk why folk reject offers of ppl just trying to solidify housing

[TuyetNguyen-veoj]

Lol bought my first crib with FHA loan and the process was smooth. Maybe it is different in every state?

[azmysouweha]

paying 30k extra to assume a 2.5 rate loan, is the MIP worth it?

[HAXUSOfficial]

conventional for first time home buyers is actually 3%, so lower than fha

[krluvsJesus]

Keep the goods coming Sean. I have learned a lot from you. I thank you and your wife for what you do.

[adrianruiz]

So if you are doing FHA loan you need 3.5% and on top of that you need the Earnest money?

[ashleygarner.]

On what world is a fha loan harder to qualify then a conventional loan? Lol and you said they have more requirements? Explain

[squobsofficial]

This is a snapshot of advice from anyone in their 20s.

[imjcarp]

I am getting a house in October and going to sell it rather quickly, maybe even list it as is instantly. What type of loan should I get? There’s 70k left on payoff and it appraises for over 100k