For a $400,000 House, How Much Do You Need to Make?

⭐Have mortgage questions? Pick a time that works best for you here

⭐Ready to get preapproved?
Text me after you fill out with your name 707-478-0637 so I can alert team

⭐ Call Me: My cell phone is 707-478-0637 I am happy to help. Let’s get you home!:)

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Timestamps:
0:00 Instragram
0:20 The Big Question
0:35 As a Lender, Here's My Answer
1:45 Talk to a Lender Before You Look At Houses
2:20 IMPORTANT ADVICE
2:45 Pre-Approved for Too Much?
3:18 Just Get Pre-Approved...
4:10 Reach Out, Let's Talk!

Licensing info: Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611 Branch Address: 1750 N University Drive, Coral Springs, Florida, 33071 Equal Housing Lender
NMLS 247743 Guaranteed Rate NMLS 2611
To access Guaranteed Rate:

My State License Numbers:
AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MS-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, PA-247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY – 8203

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.

Hashtags:
#Mortgage #firsttimehomebuyer #homeloans #homeloantips #mortgagelender

[mikejejenich-pbzx]

This woman is outstanding. She responded to a question i had. The day after i sent her. Knowledgeable videos. And responds. Quite quickly ✅

[jessyrovira]

Jennifer Beeston you’re amazing ! Thanks for the high quality informative content !

[heidileonez]

Keep in mind too, in addition to house payment you’ll have power, water, sewer, trash, gas if applicable, insurance and property tax to also consider monthly or quarterly depending on where you live! 👍

[parler]

It depends on your bills and your down-payment.

[caisson]

As a former Mortgage Broker, I say this woman is 100% on target.

[historyandhearsay]

Agreed! We were approved for $650k+ (where told that was a starting point & we could get more if needed) Because we have zero other debt. But in reality we knew if we ALSO wanted to EAT & pay for gas, etc … we couldn’t “afford” even HALF that amount! (With how high property taxes are in our area & current rates at the time) So even going less than half what we were “approved” for, we were at the max monthly amount we could realistically afford to pay.

[V.ALFONSO]

Wow! I think I just fell in love with this channel. Jennifer I'm a Realtor / LO it feels amazing someone calling as it is.

[johnniejacobs]

Thank you, thank you, thank you. I have been wanting to buy a house this year but have been watching your videos, reading as much as possible to learn what the process is and what questions to ask. I went to a first time home buyer "workshop" here in Tulsa, OK. The realtor and lender that did the presentation focused on how to apply for a program to get $20k for a down payment. I was hoping they would go into other parts of the process. I was mostly interested in figuring out how much of a house I could afford if I wanted to keep my monthly payments at a certain amount. I'm looking for a lower payment just in case something happens in life, I want to be assured I can still make the payments without worry. Unfortunately they did not talk about this at all. One girl mentioned she did not make enough money to qualify for the assistance program they were talking about but said she just got a raise and may be able to qualify now. She was obviously cutting it tight and the 2 experts there were more about getting her on the hook than giving her good advice. Thank you so much for your videos and advice. Your perspectives are right in line with the concerns I have and want to learn before I take the plunge. 😊

[sandycalame]

Get your preapproval first THEN start shopping!

[DonnaAlsippi]

I just bought my house in Nov and I researched everything down to different government programs . I was so happy to be a first time home owner on my own .

[mrctzn]

That's the real process, you get approved for a loan at a rate you qualify for. Then select a property that fits that and choose one you can make payments on without spending all your income on.

[joeydego]

Impossible to answer. Maybe 40k, maybe 100k. Before you start looking at houses and before talking to a lender, figure out how much you want to spend on housing and if you don’t like what you’re hearing, SAVE UP a bigger down payment. IMO save at least 50% down or you’ll be a slave to these banks forever.

[korravaitessabelle]

I never understood why they use gross instead of net?
Its not like you're going to stop paying taxes. Are you going to cancel your medical, retirement savings or other deductions if you suddenly have a bad financial month, or 3, and can't make your note?
Don't wonder if you can afford it, live with it. Assuming you have put away your down payment and emergency fund so now put aside whatever the house or car note would be, for a couple of years, then decide if you were comfortable. The money isn't the only problem many people have, it's lack of patience, prior planning and common sense.

[alissagonzales]

Many years ago a mortgage company had great booklets on how to understand the process. Even showed you how to figure out the mortgage
payment for the money borrowed and adding the taxes and insurance etc. I read those booklets until i understood them forward and backward. It was the best booklets I read before buying my home. It even talked about paying money to principal only. Plus how some have penalty for early payoff etc. I have no idea if a mortgage company make those booklets anymore. If they don't they should.

[ervinjones]

90k = 400k house... This is how. Manage your money, invest correctly, and maybe your income may not matter. Down-payment can make the difference.

[re]

95% of Americans can not afford a $400k home.

[wise_Cat]

As always another great video. Random question, but which credit agency do you usually pull from?

[WorryDontAbout]

Absolutely right. I have 220k and 400k house, so true because I thought it was enough but I was borderline with just my income, even with that down payment

[bka]

They are selling homes on slabs, no basement, 3 bedrooms 2 baths starting at 700, 000 around where I live. Selling like hotcakes to people who have to be living on the edge of one small hiccup and disaster strikes. Can't understand it in any form.

[BillyBob-fhhe]

How much do you need to earn each year?