2023 FHA Loan Requirements For First Time Buyers — Loan Highlights

Looking at buying a home and curious about an FHA loan? I’ll cover all the highlights you need to know about FHA loans in 2023.

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0:00 2023 FHA Loan Requirements For First Time Buyers — Loan Highlights
0:20 FHA Highlights
1:54 Quick Pros/ Cons
3:29 Big Changes
3:50 Down Payment
4:40 Down Payment Assistance
5:31 Closing Cost
6:09 Seller Credits
7:51 Credit Score
9:37 Big Lender Problem & Overlays
10:31 Credit Events
11:02 FHA Rates
12:01 Mortgage Insurance
13:37 Property Requirements
14:20 House Hacking
15:04 Property Condition
15:32 Loan Limits
15:55 Income & Affordability
17:24 Front-end and Back-end/ Max Purchase Price
18:50 FHA vs. Other Loans
19:37 Student Loans/ CAIVRS
20:22 Rehab Options
20:52 Success Rate & Seller Perception
21:33 How to get one an FHA Loan

— 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.

[tabiahunt]

I love how informative your vids are and you aren't gaslighting us

[silverpod]

You are the Bob Ross of mortgage financing! Informative and relaxing on stressful topics! Thank you!!!❤❤❤

[stephanievillareal]

I already purchased a home 2 years ago but I still listen to your videos because I like to be updated. Plus I tell everyone to watch your videos if they’re looking to purchase. Thanks for all the information!

[Silverlane.]

Hey Kyle we’re closing on our home next week, with your help we couldn’t have done it, it was so intimidating and I honestly thought about backing out more than a handful of times. But thank you for sharing your knowledge in these videos. It’s really helped us a lot ! Thank you Kyle

[KINTOSOL]

My credit is 640 & 680 I did apply for the first time home buyer FHA townhouse the price is $150, 000 they tell me yes you qualify am like nice thank you this is the downside they tell me you need $15, 000 in you bank for this deal to take effect am like WTF yes $10, 000 downpayment & $5, 000 closing cost iwas like WTF REALLY what happen to the %1 are %2

[lovesydney]

I watch your videos while I work from home everyday and I believe you’re the reason I get so much work done lol. Your voice is therapeutic and your information is very viable!!

[eagleeye]

You’re thorough with your video. I also like that you talk slow, easy to understand. New subscriber here!

[CHR...]

Your one of the best, thank you for helping us

[MizzDepptified]

Very thorough/professional. Greatly appreciated information 🙏

[jasond]

Can you do a detailed video on Sales and commission income? Great video, can’t wait for conventional video. My biggest concern with our situation is the job length at a new high earning sales job. Hourly rate is the only thing the lenders may approve me for. Less than 40K.

[jerrybuffington]

Hi Kyle. Do you have any videos explaining loan assumptions? I did search your channel but only a couple Q&A videos came up. Thanks!

[xdcekox]

Really enjoy watching your videos man! Any chance you could do a video on buying post bankruptcy, waiting periods and how lenders look at these applications and how to improve approval odds?

[reggie]

Can this be done if you have charge offs I heard they don’t look at charge offs?

[fredy]

"I am confused. How do I contact the FHA? Should I reach out to a nearby agency or directly contact the bank? Please help me."

[laughz]

Are flight attendants considered as first responders? My wife is a FA and she get frequently have to go thru training to put fires off and provide first aid and CPR along with other medical equipments. Thanks

[lenenriquez]

Does the loss of income due to covid-19 Mortgagee Letter still apply to FHA and Conventional? Thank you for all the informative bideos!

[casmitastephenson]

Love this video very helpful 👏 because FHA loan is what I want to do.. very interesting, one question do you lend fha to for fixer upper house are foreclosure homes? Thank you

[renatosevillano]

Hey! I ve been watching your videos for more than a month because I want to buy my first house and I have a question. I just applied for a mortgage loan, lender asked me for my bank statement and I have way more than the 3.5% of the house price I want, but I dont want to use it all, I just want to use the 3.5. Would that affect my FHA loan approval? Thanks!

[patol]

Thank you Kyle! I wonder if you could do the same scenario with a conventional loan

[scottsmovienews]

This is awesome. Can you do a 2023 VA Loan video?