I love her flow and open door energy, nothing like talking to people in any business that is so difficult and puts invisible wrenches in your way instead of unfolding things slowly and efficiently. I really like her.
Thank you for this video. I'm in the Bay Area and it is scary here with my dream of owning a home is so far away. Your video and info is so comforting. And I hope all this will help me prepare in the future.
I’m in the process of underwriting, have had my realtor negotiate closing costs into the loan and working on getting the full down payment prior to close. Praying the lender/underwriter approves me without having the down payment until closer to close.
I am so glad to hear you say that you don’t agree with everything Dave Ramsey says. For the longest we avoided credit until we needed a house. We had to practically increase our credit scores in order to qualify for a home since we don’t have $1 million sitting around in an account.
@@JenniferBeeston I feel like most people in the world would be doing better if they at least listened to his general ideas, but not everything is actually practical.
I subscribed to your channel because you explain things plainly and clearly. Thanks so much. It helps a lot. Do you have an office in Washington State?
Jennifer, this is the second time I watched this and I'm so happy that I did. I really appreciate the fact that you'll help me even if I don't qualify for what I hoped for. I'm a realist in this strange market, I know that there's so many factors to consider. I really enjoy your videos 👍🏻👏
My check doesn't come for 10 business days, should I just wait until I put in the application? I sent you a text message to your phone number a few days ago.
It 100% depends on loan program. For overall financial health stay under 43% but in certain circumstances higher can make sense like if we are not counting certain portions of income etc. check out this video where I show how to calculate debt to income ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-fKwtjKdd2D4.html
@@JenniferBeeston you are amazing! I am literally just waiting to see if my hubby’s re-enlistment goes thru to call you. Talked to you a year ago and you gave me the TRUTH I respect that!
I love the way things are explained because the home buying process especially in Arizona is really confusing. I’ve been denied in the past due to down payment, I admit I’ve looked into assistance programs but they scare me a little due to the second mortgage thing. After seeing several of these videos I’m thinking about just calling you instead. Is AZ one of your licensed 48?
Amazing 🙌🏾 I just subscribed to your channel after binge watching 😀 great info very informative👍🏾I've never felt very confident about purchasing a home until now. So thank you 🙌🏾
i have been trying to fix my credit and getting funds till i was recommended to john and he boost my score also got me huge finance .. check him out he will do the same thing to you that you can never imagine.! mail john
Man idk how I feel about lenders I make 126k a year for several years now my credit is meh I think 618 or 620 I got 8k to down pay and I always make my rent and pay on my credit cards multiple times a month and all I wanna do is buy a damn house so I can stop giving large quantities of money to what some people call “ rent “to some giant company who owns the house I live in and put it to something for my family but unfortunately I gotta convince some lady like this that I’ll pay something I already pay now it just sucks man so bad cause here I am already affording 2500 in rent plus all my other families bills off just my income but I can’t get a loan to get a house it just sucks that’s all I can say
Man, I was approved for $450k. With a credit score of 790. But the market here in south florida with that type of load will get you a 2-1 800sq house🙄🚶
@Lamar Curtis Sounds like most of California. I've seen of 400- 600 sq.ft houses and condos in Long Beach for about 400K. I used to live there 30 years ago. I remember some of the locations as being in high crime areas. But maybe Long Beach is totally gentrified now.
Great advice, thanks for all the info you are sharing. I've looked at other platforms you are on but cannot tell if you are licensed in Texas, sorry if this is listed somewhere I just could not find it. Quick question though, when trying to work with FHA is this a good option for 2022 as I know lenders have gotten a bit more strict. I believe my husband and I would qualify for a conventional loan, it's just the down-payment requirements that is an issue. Thanks in advance.
My boyfriend applied for a loan they called him back told him he needed to pay some of the stuff on his credit off. That pretty much all they said and they said once he took care of that they will get him into the buying process. I don’t know why she said it wasn’t a pre approval or pre qualification she said take care credit first that’s all that was said.
It’s sounds like his debt to income is too high right now but the loan officer should have explained in detail. I would call the lender back and clarify as yes they would have run credit to come up with that. If you want to chat about it 707-478-0637. Also I have a quick video on how to calculate debt to income which may help as well.
I am licensed in Chicago but if you want to go into an office to meet with a lender I know some really good Loan officers in our Chicago offices. Call me and I can intro you 707-478-0637
Some people have to keep in mind that sometimes a no is the best thing. I watched my parents lose their house and have to have a foreclosure on their credit. This was right before the major financial crisis. Maybe lenders should have never qualified our family for a loan, sadly. I loved that house but losing it was even worse.
Hi Jennifer this is Michael Bronson I am a v a marine veteran and I live in Florida at this point in time my question is to you if my wife has a self-employed business how can she establish or shall I say we are planning to move to Georgia next year early and I want to know will her income would be okay to have for a secondary income or do she have to register in Georgia in order for that to happen
I have a question my husband has good credit I have no credit we have no debt. Would I have to open a credit card or will it just go based off of his credit?
Question I can’t find an answer for - I am looking to close my credit card and I have no debt. I do not know how long it takes for a “no score” to show up on my CR. So my score will likely be low for sometime. But I am looking to buy a house in 2 years. Can I look at manual underwriting to obtain a loan or am I going to automatically be declined due to a “low” credit score? Recommendations?
Personally I would not close the card. I would just put a tank of gas on it and pay it off monthly. A high credit score saves you $$ when you are buying a home. Generally after 6 months your score goes away unless you had bad credit. We do loans with no credit scores but the rate is as if you had the lowest credit score
@@JenniferBeeston Thank you. I appreciate the advice. I will continue to purchase pet expenses with it and keep my solid score going until a house purchase is secured. Thanks again!
Yes your husband can gift you but you need to make sure it is down right. If he hands you a stack of cash(literal cash)that is a prob. Happy to discuss 707-478-0637
I just finish paying off my house. but my wife wants a bigger house 🏠. what are the steps or process to get a second loan. looking for 450k 550k loan. good credit about 40k in car loans and credit cards . thank you for your videos..
Hi Mario, Your wife and I are kindred spirits. Happy to help there are a lot of ways to look at this so best to start with a quick call. Happy to chat with you and your wife as often that will help us plan the best to meet your needs. Just pick a good time for you calendly.com/jennifer-beeston/preapproval-q-a
Jennifer I bought a Car 6 months ago and it's definitely going to effect my DTI without question. How would it hurt to get rid of this payment for a smaller one that will fit with the back end of my DTI?
@@JenniferBeeston Score is ready now but I'm sure it will take a hit. But after a few months while paying credit cards off I will recover you think? How would that look to get 30,000 plus down closed to less than half?
@@JenniferBeeston I know my credit will take a hit but this i have to do to get that dti down. I'm thinking about 3 or 4 months do you think I will recover that fast My score now is over 670 but when I take that hit what's your advise?
Jenn I am under contract for a condo in fla.my lender is I think over charging me.the condo my score is average 799 with 20percent down. My dad is 33 percent.the condo cost 97.000 his fee is $4000 plus.rate is 5.99% with seven thousand with nineteen thousand plus.26,000 plus for closing.does the terms sound right?
What can I do with a 797 fico 8 and 5k down 😅 looking at a connected 4fam connected townhouse group. 3 properties long term renters and want to stay. 4th might be my primary residence if required otherwise I would rent it out at market rate.
@@JenniferBeeston love your videos and appreciate your quality content. List price is currently 740k in North Carolina. I think I’m aiming a little high at this moment and will continue to build up capital until I am closer to 20% down.
Hello i got a question my sister and i are trying to buy a house together using both incomes. So my sister in 2021 gross $22,526.71 and in 2022 she gross $22,485.91. And in 2021 i gross $17,899.08. And in 2022 i gross 19,041.43. With this income we only got approved for 185k idk if thats correct of not. My sister only got 1 credit card so her dti i think is super low. I got 3 credit cards. Her credit score is currently at 691 thats what credit karma says. My is currently at 640. Idk why we got approved for so low. Like there are is no confortable house for that amount. And we can also add my fathers income in which it is $1107 per month from his ssi and pension. but he’s disabled retired and he depends on the state benefits for health insurance and idk if is true but somebody told him that if the state find out that he has a house then they can stop providing him with the benefits. Idk if thats true or not and he depends on that. Thank you. 🙏
Im saving my down payment, I remove the money from my account and give it to my sister to hold. Will that be an issue or considered an unjustified funds or gifted money? Thanks.
Its not ideal as we will have to track and explain the money and it could be considered a gift from her to you which is fine. I would keep the money in your account. No need to complicate things.
This debt to income includes the current rent? I could see the current rent bringing them up to 80% easy, or is it debt as in only CreditCards/Loans? Sorry if question is silly, trying to get as ready as I can get to apply before end of year... Thanks,
I am sure we probably have someone at Guaranteed Rate:) Now I gotta get Rhode Island for 2022 as you are the first person to ask about that state and that is my trigger:)
If I walk in with 20k down payment trying to get a house credit suks under 540 is it still possible or do i have to get that score up ? .Again love ur info
@@JenniferBeeston thank you for your reply Jennifer and as always love your show and will be in touch. For a refi and probably a cash out but are score is higher than that thank you
Depends on how the computer judges risk. In theory you could get the same loan amount. If you are pushing really high on debt to income you have a better chance at 700 then 580. Really anything under 600 is hard to get through from what I have seen
We use disability income every day to qualify. Super easy and no problem at all. If you would like to chat pick a time here:) calendly.com/jennifer-beeston/preapproval-q-a
I have a question about VA loan. I’m a disabled veteran 70%, should be getting upgraded to 100% soon, I also am a student using the GI Bill. Can I use the monthly Housing allowance I get from the GI Bill as income for a mortgage?
Love your videos. Me and my wife are currently working with another lender the lender stated to us that my wife has student loans and that's preventing us from qualifying for a mortgage loan I do we have any alternatives is there anything that you can help us with. Can you also provide us more information about the California Dream for all program. Would that be an option for us to use? Any questions please don't hesitate to contact me.
