Do You have Low Income [Buy a House With Low Income 2023] |

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Are you looking to buy a home but worried that you don't have enough income to qualify for a mortgage? An FHA loan may be a good option for you! In this video, we will explain what an FHA loan is and how it can help low-income borrowers like you buy a home.
An FHA loan, or Federal Housing Administration loan, is a mortgage that is insured by the FHA. This means that if you default on your loan, the FHA will pay the lender a portion of the money they lost. Because the FHA is taking on some of the risk, lenders are more willing to approve loans for borrowers who may not otherwise qualify for a mortgage.
One of the key benefits of an FHA loan is that it has lower credit score and down payment requirements than a traditional mortgage. With an FHA loan, you can qualify for a mortgage with a credit score as low as 550 and a down payment as low as 3.5%. This can make it much easier for low-income borrowers to qualify for a mortgage and buy a home.
In addition to lower credit and down payment requirements, FHA loans also have lower closing costs and up to a 55% debt-to-income ratio. This means that you can potentially qualify for an FHA loan even if you have a lot of other debts or expenses.
So if you're a low-income borrower looking to buy a home, an FHA loan may be the perfect option for you! If you have any questions about FHA loans or the home buying process, be sure to leave a comment below and we'll do our best to help you out. Thanks for watching!
#mortgage #mortgagetips #homebuying #lowincome #lowincomemortgage #homebuyertips #mortgageloan
CHAPTERS:
00:00 Introduction
00:12 FHA Loan Requirements
01:28 550 Credit Score
02:08 1 FHA loan at a time
02:26 multi-unit properties
02:47 LTD Ratio
03:59 PMI
05:45 Closing Credit Limit
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Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497
💻Visit My Website - www.loanwithjen.com/
📌📌More Helpful Videos:📌📌
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▶️Why Choose an FHA Loan: • Why Choose an FHA Loan...
▶️How To Calculate Mortgage Insurance on an FHA Loan?: • How to Calculate Mortg...

Опубликовано:

31 июл 2024

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Комментарии : 173

@troyreneestephens4354 Год назад

My fiance and I with a combined income of $21,000.00 a year.. we have saved over more than enough money for a pretty decent down payment. We have been trying to purchase our first house together. Our credit scores are fair. We have been told that we do qualify for to purchase a house $200,000.00 I have done my homework after thinking that because of our income as well as our credit scores. I have also discussed our debt to ratio as well as our debt to income. We have been turned down because of not having enough income on paper. I have been very honest about our income limits. All I am asking is for someone to take a chance.

@LoanWithJen Год назад

Hi Troy! Thanks for commenting. In general (not always) you can afford a home about 4 x the annual income. If you put 10%-20% down, that number can increase. When you say sizable, not sure how much that would be. But for the most part, a home of 4x your annual income (GROSS) is about 80K. I hope this helps you! You can also get a cosigner? Not sure if you have access to that. Here is a video about it. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fy57xAs8zgw.html

@LoanWithJen 4 месяца назад

troy i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@richardandretti2680 Год назад

You are so amazing... I wish you were here, in Arizona, so I could send all my buyers to be approved and or guided by you. I will send all my first-time buyers to watch your videos. Thank you...and God Bless you, little sister...

@LoanWithJen Год назад

Hi richard! Thank you so much for the feedback! Please send buyers to watch! My goal is to educate all of them, so that there in AZ they can make the best decisions for them. Pass to other realtors too! Get the word out! Bless you!

@LoanWithJen 4 месяца назад

Hi Richard~ i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@sandycollins3613 Год назад

That was wonderful information, clear and straight to the point. Thank you 👏

@LoanWithJen Год назад

Sandy thank you so much for watching!!!!!!!!!!!!!!!!!!!!!

@LoanWithJen 4 месяца назад

Sandy i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@TracyABrown-wi1vi 8 месяцев назад

You are awesome I'm going to get back to this video later on because I get up to go to work so early in the morning

@LoanWithJen 8 месяцев назад

Thank you for watching!

@LoanWithJen 4 месяца назад

Tracy i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@rickeedavenport1738 Год назад

Excellent vid!

@LoanWithJen Год назад

Thanks for watching Rickee!

@LoanWithJen 4 месяца назад

Rickee i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@Yourstrulysantony 5 месяцев назад

Digging the music, this ladies vibe is crazy

@LoanWithJen 5 месяцев назад

thank you!

@LoanWithJen 4 месяца назад

Hi! Thanks for watching the channel! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@Docstantinople Год назад

The advice is sound but gone are the days of buying a home for under 200k I feel like unless you just don’t mind living in a really shitty area or buying a fixer upper with a lot of fixing required.

@LoanWithJen Год назад

Unfortunately this is true. What the lower income borrowers really need is a cosigner. Some cities have special housing inner city (my city of HOuston does). But you are correct, its very difficult with prices these days.

@LoanWithJen 4 месяца назад

Hi! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@LoanWithJen 4 месяца назад

Hi Docstantinople!!! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@pamstlgirl3461 Месяц назад

Hi... love your videos.. I'm interested in purchasing a home.

@LoanWithJen Месяц назад

Thank you! Here is my contact info! www.loanwithjen.com/contact

@FabianGuzman-ov6qk 8 часов назад

I have a problem where I make 50k a year my credit score is 725 and I have the down payment ready but I’m in California I make enough to pay the monthly payment but they said minimum have to make a year to buy a home here I’d 118k a year and I don’t have a co signer I don’t have any family members that can co sighs how can I buy a home

@SandeJune Год назад

Thank you for the video!! What do you suggest should be the first step after making sure your scores/income are good. Should I go speak with a realtor? I have been researching pre-qualification and pre-approval, do you suggest we have that before speaking with someone? My spouse and I have an annual income of $68,000 and only have our car payment every month besides rent and regular utilies. I just don't know where to start.

@LoanWithJen Год назад

Hi Sande! Thanks for watching! and the question. I have a video about this topic! Where to Start! You should for sure talk to a lender first. How much you qualify for will depend on property tax in your area. Definitely use a state local lender (not a national one) so they can direct you to down payment assistance that can help with costs, etc in your are! You are likely in the 250-300K range on house max, again, depending on insurance and property tax cost in your area. If you tell me your state, I have trusted contacts in many states! I can point you to one. Here is the video I think you should watch next! Where to Start! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-iwGrwcluCn8.html

@SandeJune Год назад

@@LoanWithJen Awesome, thank you! We are in Nevada

@LoanWithJen 4 месяца назад

Hi Sande! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@adrianherrera1031 Месяц назад

I have a question about assumable mortgages and about the step up in basis was it removed?

@LoanWithJen Месяц назад

Not sure I understand the last part of your question? Here is a video on assumable loans. If this doesn’t answer your question message me back. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9xM0cR9GVj0.htmlsi=Nut48Zs0ux92k4bS

@johnlittle1939 Год назад

Hi Jen like your video. I have a problem I'm building a house i have a construction loan so I will need to get a mortgage after built. My problem is that i probably won't qualify anymore because wife stoped working after covid and going some over budget. My income is 88,600 and we own a house no mortgage but the new construction loan is going to be close to 330,000 so I don't know if I qualify anymore. My credit score is 673 it was 800 before build. What options do i have. I'm building a house on 1 acre that is also paid off.

@LoanWithJen Год назад

Hi John, we have talked, and I really appreciate you calling me. Thanks for doing that.

@LoanWithJen 4 месяца назад

John , I hope you are well, i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@TheVelvetsky614 Год назад

Hello, are you a mortgage person? I just changed careers (25 years as a teacher, now a truckdriver), and have 250K from the sale of my last house. I have excellent credit but no one will give me a loan until I have worked at the new job for 1 year. It's so frustrating because with more than half down I can certainly afford the payments! Even after the down payment I'll still have significant savings to fall back on (which I still have no plan to touch). I want that house :-/

@LoanWithJen Год назад

Hi Velvetsky. YES! I am a mortgage person for 27 years :)- It depends HOW you are paid. IF you work for a company (employee) and we can determine you work 40 hours/week and are salary, or set amount hourly.. we could maybe do now. HOwever, my experience with other truck driver clients is you might be paid by load? The reason for the 1 year 'wait time' is to determine stability of income to repay the 50% loan. When you are basically commission, we have no track record of how you are paid until time passes. If you are straight salary or set hourly with guaranteed 40 hours, this would help alot to get you in the house sooner. LMK if you have more questions. Good luck!

@LoanWithJen 4 месяца назад

Velvetsky ! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@TheVelvetsky614 4 месяца назад

@@LoanWithJen thank you, I bought a house cash.

@jessicahouchins7711 Год назад

So my credit is about 550, I have a decent down payment, but I only make about 1200 per month and homes in my area go for at least 200,000. How would they calculate my monthly payments for mortgage and mortgage insurance?

@LoanWithJen Год назад

Hi Jessica. Not sure of the taxes (property ) in your area, so that will affect this number. For now i am assuming 2.0% property tax . A home of 200K has a payment of about 1700-1800/mo. So if you make 1200/mo, that is over your income. Are you able to get a cosigner that is a family member?

@LoanWithJen 4 месяца назад

Jessica! i just released a new video with a special program for low income! They accept low scores too! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@Mel05157 9 месяцев назад

If you are low income and have a housing subsidy (voucher), can that be applied towards the mortgage? 4:53

@LoanWithJen 8 месяцев назад

Yes. The housing voucher can be considered income. Does this answer your question?

@LoanWithJen 4 месяца назад

Hi Mel05157 i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@sararush6951 Год назад

We have great credit 730-780 and only a $200 car payment for debt. We only make about $2500 a month and will only have our tax returns (should be around $10,000) to cover down payment and closing costs and other expenses. What kind of loan should we be looking at? Are we even close to being able to buy or will we need to save more?

@LoanWithJen Год назад

Hi Sara, thank you for the question. The income you have, would allow for about an 1100/month mortgage payment. Depending on the market you live in, that is roughly a home of 130-140K. The 10K you get from income tax should be enough for down. You can get a seller to pay closing costs (has to be negotiated by the realtor at the time of the offer), or you could utilize down payment assistance in the state you live in. I hope this helps! Hang in there!!!!!!!!!!!!!!!!!!!

@sararush6951 Год назад

@@LoanWithJen thank you for responding! Unfortunately with the area we live in we have been told we couldn’t get more than $87k due to the high taxes here and most homes here are $250k or higher so we are looking at buying the old trailer we have been renting for the last 4 years and fixing it up until we have a better chance of being approved for the kind of home we want.

@naturegirlbb100 Год назад

Please can a immediate family live in one unit of a multi-unit, and the other units rented out. Thank you very much.

@LoanWithJen 4 месяца назад

Hi Sara! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@lovelylatonya9489 Год назад

Can you have a co signer or as for extra income if you low credit

@LoanWithJen Год назад

HI Lovely Latonya, yes you can, and use their income. However on credit, lenders default the decision to the LOWER credit of the borrowers, so the main occupant, if that is you, must at least have the minimum acceptable credit. Hope this helps.

@LoanWithJen 4 месяца назад

Latonya! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@ashleymcdaniel8273 Год назад

Hi. If in a Pittsburgh Pa area making $4k per month how much house could I get approved for?

@LoanWithJen Год назад

Hello! So I took 4K (gross assuming) x 43% (max house payment lenders look for in general) and that is 1700/mo, so backing into it, avg PA taxes are 1.58% and insurance about 100/mo. So that backs into a house of about $215,000. I suggest you check with a local lender on the tax /insurance numbers. Also to know if there is some assistance for down payment in your area. This guy is great. Tell him Jen Hernandez sent you lo.movement.com/stan-reinford/home

@LoanWithJen 4 месяца назад

Hi Ashley! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@Auctioncarsss 7 месяцев назад

me and my husband make 75k a year grossly, and we both have credit scores of 730-740. we do not have a lot of credit history since we are younger, but we have 2 years of tax returns. we have car payments of 1k between us 2 as well (but can get that lowered if needed) and we live in texas. what could we get approved for? thank you thank youuu!!

@LoanWithJen 7 месяцев назад

Hello!!!! I am in Texas! would love to talk more ! There are down payment assistace programs that can help with down payment. From the info you gave, approximately 300K sounds right, but would need to get more detail to be sure. Reach out to me! www.loanwithjen.com/contact

@LoanWithJen 4 месяца назад

Hi! Not sure if you have bought yet, but.... i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@cocoapretty510 3 месяца назад

Do you know how I can go about this program for new york city

@LoanWithJen 3 месяца назад

Hi’ you’ll need to talk to a lender licensed in NYC, here’s a trusted friend of mine there. Good luck! www.fairwayindependentmc.com/lo/michael-graber-82966?nmls=82966

@ME-kb8qg 9 месяцев назад

I don’t understand, for a $500k condo around me with 3.5% down with fha my payments come up to nearly $4000 a month. How’s that any help for a low income person?

@LoanWithJen 9 месяцев назад

You are right, some areas it is not possible. Where I live in Texas, home prices are more affordable. Could you get a family member to cosign?

@LoanWithJen 4 месяца назад

Hi Me-kb8qg! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@hugoquintero9189 Год назад

Me and my wife have good credit scores over 700 we bring in around 3 thousand 700 a month the issue is we live in the over price housing market in california so I don't even know if we qualify for anything

@LoanWithJen Год назад

Hi Hugo, thank you for watching! If you take your GROSS income before tax, and if that is 3700 x 43% = $1591. The 43% is an approximate safe zone of where lenders want your housing payment. So the house you could afford would be 1591/mo. I am not sure that will buy much in CA , maybe 250K? If you can get a cosigner that is a family member, that is a way you can likely buy. I hope this helps you!

@hugoquintero9189 Год назад

@LoanWithJen yes vwry helpfully how can a cosigner help in this situation?

@LoanWithJen 4 месяца назад

Hi Hugo! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@norbydroid3430 2 месяца назад

We are on SSI here and tried to get a place in a rural area here in Florida, but gettin in touch with someone was a night mare. When we finally did, filled out the information and all, we were denied. They said for low and extremely low income people. We got one excuse after another about not enough income, housing prices are too high, and others. Indon’t understand why the say all this stuff yet when ya try ya denied and only given excuses.

@LoanWithJen Месяц назад

Oh gosh I’m so sorry. It could be that your income won’t support the prices in FL? I know things are expensive there. 😢

@Yourstrulysantony 5 месяцев назад

I make 50k and my wife makes 35k we live in Florida and houses we like are around 350k what would be the best tip to secure something with this type of loan, someone told me that fha loan can cover up to like 30k towards down payment, thank you

@LoanWithJen 5 месяцев назад

HI! Doing very basic calc, assuming you dont have much other debt, you can afford a max house payment of 3000/mo. Depending on your property tax/insurance in FL, that could be possible on a 350K house. as for the 30K to closing question, that would be ONLY thru a down payment assistance program. FHA does not give money /grants to people. The states do. We can lend in FL, so contact me! www.loanwithjen.com/contact

@troyreneestephens4354 Год назад

I need to know more about how to get qualified for an FHA mortgage

@LoanWithJen Год назад

Thank you! Here is a video about fha ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ce0R8jt5WkY.html and if you are in Texas contact me: www.loanwithjen.com/

@LoanWithJen 4 месяца назад

Troy! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@texasboss5170 8 месяцев назад

Question does that work in Texas for people with low income

@LoanWithJen 8 месяцев назад

It can apply to anyone. This video was make 'in general' for all people. The unfortunate reality is that low income, is hard to purchase homes in lower levels. Affordability index has really changed. But getting a cosigner could also be an option. Thanks for watching the channel!

@LoanWithJen 4 месяца назад

Hi Texasboss! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@Repent_Believe101 Год назад

Hi Jen! What state do you provide your services? Is it possible to buy a HUD home of 220k with 54k AGI?

@LoanWithJen Год назад

Hello! I am mostly TX, but the south eastern states mostly I can do, what state are you in? on your question, your max payment is 2K/mo for housing (assuming you dont have much other debt) its possible. Depends on property tax on the home , hoa fees, and insurance, but seems doable. LMK your state, if i cant do it I will refer you - i have a trusted network of lenders in almost every state! :)

@Repent_Believe101 Год назад

@@LoanWithJen I live in Kansas

@Repent_Believe101 Год назад

@@LoanWithJen the link above is the house I'm talking about

@LoanWithJen 4 месяца назад

Hi Repent_Believe101! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@OrganNLou 9 месяцев назад

Which credit score needs to be 580 (there are many credit scoring systems, many we as consumers CANT SEE).

@LoanWithJen 9 месяцев назад

You are right.... There are over 25 models of credit. I find the one that most closely resembles what lenders pull, is www.myfico.com Your MIDDLE score needs to be 580 or higher

@LoanWithJen 4 месяца назад

Hi OrganNLou! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@techpro8391 Год назад

I live in Florida and make 35k a year. I also have 35k cash and own $130k apartment. Can I get a mortgage to buy a $300k house before selling my apartment and if yes, how much? Also as an option I was thinking of buying a $90k land and $160k mobile home. Can I get a loan for that?

@LoanWithJen Год назад

Hi ! Thanks for writing. With your income of 35K (roughly 3K /month) take that times 43% = $1290/mo max house payment. I am assuming that is your only source of income. So a price on a 300K home, with 10% down + closing costs (your 35K) is roughly 2600/mo - which is over this max allowable I calculated above. Unless you can get a cosigner, I would say that is too much. Regarding the land, that will be 20% -25% down likely (so about $22,500) + closing costs. That could work, but then you need to finance the mobile home. You would need to go to the seller of mobile home . Its very tricky to buy mobile homes and finance them if not affixed to the land, Based on your income, this seems like your best bet. You need to sell the condo though. You cant qualify for both. Good luck!

@LoanWithJen 4 месяца назад

Hi Techpro8391! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@tanoafien1750 Год назад

I make 45k my credit score is above 720 I want to buy multiple family house but I don’t have nobody to co-sign for me. I don’t what to do

@LoanWithJen Год назад

Hi Tano- you should use an FHA loan for sure. It allows you to put as little as 3.5% down (so multiply that by the purchase price). Here is a video about that. The income on the other units (4 units is max on FHA), can be used to offset your mortgage. You MUST occupy one of the units as your primary though. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MejH9PI9fkM.html

@joanemercival2788 Год назад

How can I start the process now ?

@LoanWithJen Год назад

Hi Joane! Are you in Texas? or what state? YOu need to get in contact with a lender so you can start. Here is my contact info If I can help you! www.loanwithjen.com/contact

@barbararogers3828 6 месяцев назад

I have a part time job but mainly work full time. They are saying I need a co-signer

@LoanWithJen 5 месяцев назад

A part time job can be generally averaged after 2 years (ie we need to know on avg how many hours you work ) that is sustainable. So whatever income they are using, then yes, can be combined with another person, cosigner, to help you qualify. That is the hard part about part time, is you have the ability to work less or more. This makes it hard for lenders to calculate your income. So they have to take a long term average.

@LoanWithJen 4 месяца назад

Barbara! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@natalyrosentielmorris1963 5 месяцев назад

I just started a job that makes about 2k a month and a part time job that makes 312 a month , my husband gets 2000 a month as of right now and we’re looking to find a duplex or triplex. Is it possible? With the FHA loan? We’re in the middlesex county area in New Jersey but we’re still looking at places within 25 miles 🙏🏼 My credit dropped a bit but it is 670 and his is 690. Thank you!

@LoanWithJen 5 месяцев назад

Hello! Thanks for watching! 2nd income is tricky. To count your part time income, you have to have 2 years history of having 2 jobs. So assuming that, and assuming the amounts you gave me are GROSS (before tax) that is $4312/mo. x 43% is a payment of 1854/mo max you can have. However! On a duplex/triplex, you can count part of the rental income on the other 1 or 2 units you will rent out, so that will increase your income. I think there is hope for sure! I would need to have an idea of the prices of properties you are seeing, and what the monthly rents are on the other units you can rent. Reach out to me. I do lend in NJ! www.loanwithjen.com/contact

@LoanWithJen 5 месяцев назад

Also.. there is another video i have about FHA and multi family ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-tnPa0cKRx7s.htmlsi=JYcCePD_irm6C7nr

@LoanWithJen 4 месяца назад

Hi Nataly! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@SD71232 Год назад

AGI 56k. 150k down. $700 a month for two car payments. Credit score 800+ What do we qualify for?

@LoanWithJen Год назад

So I take your monthly gross of 4666 x 45% (with alot down you can have a higher housing payment usually- automated system should allow it )- so that is 2100/mo total housing expense- including taxes/insurance/hoa proration. Since I dont know tax rate in your state, i will assume 1.7% for now (you can clarify for me later). That is a house of about 350K- but beware , every state has different tax/insurance/hoa so you should check with a lender in your state/area. Hope this helps! If you are in TX contact me ! www.loanwithjen.com/contact

@LoanWithJen 4 месяца назад

Hi SD71232... not sure if you bought already, but i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@wengeltesfaye3124 7 месяцев назад

Am a student and currently taking a loan for school. But I am paying 1500 rent. I really wanna put it on mortgage. I live in Florida. I was looking for ‘home town heroes’ program. Can I combine home town heroes program and FHA? If yes, how? If not, what’s the possible way for me to purchase a house 😢 renting feels like tossing my money away 😢

@LoanWithJen 7 месяцев назад

Hi! YES! The FHA or Conventional is the foundation, and then the down payment assistance (IHome town heroes') is an add on (trying to make it easy to understand). So we make sure you meet FHA guidelines and then use the assistance to go toward your down and closing costs! Reach out to me so we can review your details and see what you would qualify for! www.loanwithjen.com/contact

@LoanWithJen 4 месяца назад

Hi Wengeltesfaye3124! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@wengeltesfaye3124 3 месяца назад

@@LoanWithJen omg thank you soooo much! Thank you for letting me know

@chrismarese2462 Год назад

Why is it so hard to buy a house? I’m staring at a house in my town for 99k. But I just moved to texas and I have only been here 6 months. Just like that I don’t qualify for a house because I have to have a job for 2 years? I own land that’s worth about 10k. I have a 650 credit score on credit karma but who knows if that’s what the bank sees. When you apply for a loan they see a whole different number than you do. I’m definitely low income because finding a good job requires moving to a part of the U.S. that pays decently. I would settle for a singlewide on my land but unfortunately there’s restrictions on the land that require I build on a cement slab. 😅 can’t catch a break

@LoanWithJen Год назад

Hi ! Thanks for watching, and commenting. The 2 year history is cumulative, in other words, does not have to be at the same job. As long as you have 2 years total that we can verify, and no recent gaps more than 6 months, or you have to be on the job 6 months now. On the credit score, you are correct, we see different . Ugg. I wish that were not true! Sometimes we are the same, and sometimes different. Here is another video about that. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-r-He7gi7hek.html

@LoanWithJen Год назад

I'm in TExas! I would love to give you a second opinion. Here is my contact info! www.loanwithjen.com/contact

@leejennifercorlewayres9193 11 месяцев назад

Check about RV on wheels. Or you can contract someone to lay a slab maybe? Put RV on slab or single wide? I heard house on wheels means less property tax perhaps.

@chrismarese2462 11 месяцев назад

@@leejennifercorlewayres9193 my property taxes are cheap. And the restriction are no prefab home or manufactured homes or prebuilt homes. Cement slab build only. I tied all my money up into that land and found out later I was lied to and I overlooked fine print that stated the restrictions. Didn’t know realtors and land owners could collude and lie to buyers so I took their word for it

@LoanWithJen 4 месяца назад

Hi Chris!!! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@kallasusort2986 12 дней назад

FHA - do they cover Tiny Houses?

@LoanWithJen 10 дней назад

Hi! Great question. They cover single family residences. Real property. How is the home categorized with appraisal district? There also have to be similar comps during appraisal

@marlenissoriano7500 Год назад

can I buy a home with an FHA loan if i make under 3k a month? my credit score is 700 right now but im working to get it higher

@LoanWithJen Год назад

You likely could. I dont know about your other debt, but based on 3K/mo (if gross) x 43% = 1290/mo max payment. I dont know your market property taxes and insurance, but where I live that is like a 150K house right now

@LoanWithJen 4 месяца назад

Hi Marlene! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@yumekahughes33 11 месяцев назад

I am interested in getting this loan i am a single parent i been working on my credit it is fair. I got to get out of my bad neighborhood

@LoanWithJen 11 месяцев назад

Hi Yumeka! If you are in Texas, feel free to call me. Or if another state, LMK and I can recommend someone. My email is jennifer.hernandez@legacymutual.com

@LoanWithJen 4 месяца назад

Yumeka! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@potatogg9733 9 месяцев назад

750 credit 4k monthly gross single income

@LoanWithJen 9 месяцев назад

Thanks for watching! I assume you're asking how much house you qualify for? I'm taking the 4k gross x 43% = 1,720 per month. Depending on your market, taxes and insurance are different, so its hard to gauge but its probably between 170k - 220k depending on your area. There's other factors like your other debts that if they're excessive could reduce your qualifying amount. You could get a family member to cosign and that could qualify you for more. Here's a video about it. watch this ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-415BuCZlMC0.htmlsi=ltLHPg7RZQOgBReu

@LoanWithJen 4 месяца назад

@emilym99 Год назад

What will I pay back FHA loan making 30k a year single parent

@LoanWithJen Год назад

Hi Emily. Thanks for watching! It will depend on how much the mortgage is. with your income , your max allowable payment is about 1100. In your market, not sure how much of a house that will buy. Likely 120-150K, depending on the taxes. You could consider a cosigner to help you qualify? Here is a video about it: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fy57xAs8zgw.html

@LoanWithJen 4 месяца назад

Hi Emily! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@lorishiversdogmom 5 месяцев назад

Real low income is SSI Social Security disability income. It's the lowest income there is. Usually the only priced homes that can be afforded with that kind of low income is between $30,000 and $54,000. So therefore someone should be willing to give loans in those amounts if people with disability low income are going to buy a house. It is the only way. We cannot afford houses $60,000 or higher. So does FHA approve disability income? And can you get a low priced mortgage then? I already have an approved credit score. And how come whenever mortgages are offered and talked about with lenders. They never talk about offers to people with disability low income. We deserve home ownership too. And no i have no Cosigner. Most peoole dont want to trust to Cosign for someone. I dont know anybody who would.

@LoanWithJen 5 месяцев назад

Try a USDA 502 direct loan. YOu have to apply with usda directly, but there is help for low to very low income. Good luck! www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-direct-home-loans

@LoanWithJen 4 месяца назад

Hi lori! not sure if you ever checked this out. Because of YOUR COMMENT I made this video about 502 Direct Programs! HOpe this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@lindreadix4205 6 месяцев назад

Thanks for the video im earning low income around 25,000 a year because my daughter who is disabled recieves ssi income would i be able to add her ssi income to my income if i purchase a home?

@LoanWithJen 6 месяцев назад

Yes you can! As long as it is continuing 3 more years and she is a minor , or adult dependent

@lindreadix4205 6 месяцев назад

@@LoanWithJen thank you so much

@LoanWithJen 4 месяца назад

Hi Linda! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@myriamforcades5217 11 месяцев назад

Cómo me puedo comunicarme con usted ?

@LoanWithJen 11 месяцев назад

Hola Miriam! Llamame a 713-579-3611 o mi email jennifer.hernandez@legacymutual.com

@Maria-dn5df 7 месяцев назад

I make 35k a year and my credit score is 720 and ive had the same job for a year and a half. I've only saved 7k, could i afford a house at all?

@LoanWithJen 7 месяцев назад

Hi maria! That would allow a max payment of about $1300/mo. Not sure taxes/insurance in your area, so this might not be accurate, but that would be a house of about 140-170K, depending on the rate, taxes and insurance. I hope this helps you. Are there properties for that amount in your area?

@LoanWithJen 4 месяца назад

Maria! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@lovinsmurff24 Год назад

Thank you for this information I appreciate it I am going to incorporate this information into my business that I'm setting up because I am out here gaining information on how to help low-income convert over into owning their own homes at a very low inconvenience price and option so thank you for the information on greatly appreciate and may God bless you and continue on doing what you doing because you are God sent Earth Angel indeed appreciate your love have a wonderful New Year's getting to connect with God because that's what 2023 is about symbolizing 777 numerology 7 being God number,💙💜🙏😇🕯️🦋

@LoanWithJen Год назад

Thank you so much for the feedback! I am so glad this helps you! If you think of a topic that might be another good video for me to do, lmk and I will do it!!!!! Hope you have an amazing 2023! BTW this short may help you about how much house to afford. its super short ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vVxe7tf4W8g.html

@LoanWithJen 4 месяца назад

Hi Lovinsmurff24! Here is a new video with a special program to help low income families! I would be honored if you could pass along! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@connieconnie8269 Год назад

I need one in NC

@LoanWithJen Год назад

This is a very close friend /lender in NC. Tell her I sent you. She will help you! Good luck! crosscountrymortgage.com/Team-Bartholomew/Karen-Bartholomew/

@LoanWithJen 4 месяца назад

Hi Connie! NOt sure if you ever bought in NC... i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@lisahodge8492 3 месяца назад

I have no credit and on sis my sister help me and have a learning disability

@lisahodge8492 3 месяца назад

Ssi

@LoanWithJen 3 месяца назад

Thank you for watching. Here is a special program you might be able to use with low income. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=Lh3D9WJyJdC68wfa

@lisahodge8492 3 месяца назад

I have no credit

@LoanWithJen 3 месяца назад

This program might accept no credit. Good luck ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=Lh3D9WJyJdC68wfa

@victoriagibson411 Год назад

I'm a single Mom. Would this be possible for me?

@LoanWithJen Год назад

Hello! Thanks for watching. usually with single moms, it helps boost your income if you receive child support, not sure if this applies to you. We have to also show its received consistently at least 6 mo. If that is into enough income to match the house you want, can you get a cosigner? If you are in TX , would love to talk to you. If another state, LMK and I can refer you to someone. My email is jennifer.hernandez@legacymutual.com

@LoanWithJen 4 месяца назад

HI Victoria! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@christinaerskin1413 8 месяцев назад

This video explains everything except about buying a home with low income

@nigel8479 8 месяцев назад

You still gotta save a lot of money , you can’t buy a house with a salary of a cashier at McDonald’s

@LoanWithJen 8 месяцев назад

Thanks for the comment. Every year I make this new. There are city programs usually that help with low income borrowers. I will take your feedback and make a better one for 2024! Thank you!

@LoanWithJen 8 месяцев назад

thanks for watching Nigel

@LoanWithJen 4 месяца назад

Hi Christina, I made this just for YOU! Appreciate your comments on this recently. HERE IS A PROGRAM especially for low income. thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@YouVSMeTV Месяц назад

Hey pal, you just blow in from stupid town, huh?

@lisahodge8492 3 месяца назад

I have a learning disability on ssi

@LoanWithJen 3 месяца назад

Thank you for watching

@tanoafien1750 Год назад

I make 45k my credit score is above 720 I want to buy multiple family house I don’t have nobody to co-sign for me because my family leave abroad

@LoanWithJen Год назад

Hi again Tano, sorry to hear that. You will need to qualify on your own then. Here is a video about how much house can you afford ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vVxe7tf4W8g.html

@LoanWithJen 4 месяца назад

Hi tanoafien1750! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@kathiejohns1418 4 месяца назад

This isn't helping! I have a score of 725 but monthly income $25.00 under $1,000.(it's a government fixed income no taxes) Have only three small recurring charges ($45.00 cellphone,$19.00 life insurance,$25.life insurance)! I can comfortably afford a $560.-$565. mortgage payment (with p&I,taxes, insurance included)and after paying utilities, warranty, security I would still have $100.to my name every month(this year, keep in mind my income increases every year)-I still can't qualify for a mortgage

@LoanWithJen 4 месяца назад

Kathie there is a program for very low income people directly through USDA, it’s called a 502 direct program, Google it. You have to apply directly with USDA in the field office in the state that you live and you may even qualify for a subsidy where they help you make the payment even. There is hope for you! Good luck.

@LoanWithJen 4 месяца назад

Kathie! i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@RochelleWilliamsreads Год назад

It doesn't matter how low your down payment is if your monthly payment is your entire income on a badly damaged shack.

@LoanWithJen Год назад

Thanks for watching Rochelle. I know its hard, sometimes the income that can afford a certain price, is homes that are run down. If you can get a cosigner at all to help here is a video about that ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fy57xAs8zgw.html

@LoanWithJen 4 месяца назад

Rochelle, i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j

@vrijmatipersaud1256 5 месяцев назад

Stop lying!!

@LoanWithJen 5 месяцев назад

Sorry you feel that way. Check out a USDA 502 Direct Loan. It is very very low income borrowers. Here is a link www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-direct-home-loans

@LoanWithJen 4 месяца назад

Hi Vrijmatipersaud1256.... After your useful comments to me 2 weeks ago ......i just released a new video with a special program for low income! I hope this helps you! thanks for watching the channel! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H86NMGh6Ki4.htmlsi=YjNpvTx-agI7vx6j