Hello, I was listening to you guys discussing "Dream For All." Dan provided in correct information." The dates were opened April 2nd or 3rd 2024 thru April 29th 2024 close off date. Because they're doing lottery they didn't need to stop at a limit. I agree with your follow up responses. Some people not ready and hoping to get a house. Hopefully, their lender has had that discussion.
Hi Kyle! It was great listening today. I didn't know you did these lives shows weekly, so I will be sure and catch it live next week. My only comment for today is this - I was very surprised to hear Dan say No to the 20% down do I have to still include home insurance in escrow question. From my experience, it depends on the lender. So, I believe Dan's answer should have been just that. How would a lender protect it's investment if not requiring the insurance to be part of escrow? That's the only way they can ensure it gets paid. I've even put down 25% and the insurance was still required to be part of my escrow. The only time my lender say No, was when I bought a condo. Obviously because I don't own the structure/building my condo is in, just what is inside my condo. So I hope people aren't disappointed when they go to their lender and they say Yes, it is required. If they are concerned at how much that will increase their monthly payment, then they need to ask that question up front. If they say, Yes, then they will need to find another lender.
Thanks for watching! The base guidelines allow a borrower to waive the escrow account with 20% down. However, all lenders can add on to guidelines. We can only speak for the lenders we work with which can do the base guidelines, we cannot speak for what everyone else does.
@@WinTheHouseYouLove Ahh! I see. I didn't realize you were speaking in regard to the lenders you work with, makes sense now. Thanks for sharing! Looking forward to next week.
Hello, I got a loan estimate with a conventional loan with a 30yr fixed with and Interest rate 6.85 %. Is that a good rate considering the current market for mortgages?
I'm looking to buy near morehead ky ashland ky a few hours from Dayton very scary times for home buyers and sellers . I own a piece of property in grennup county ky its in 4 shares with myself and 3 brothers how hard will it be for me to utilitze that 240 acres as collateral both of our scores are 590 -600
When you buy a home, the home is collateral. You can't use something else for collateral. You might be able to pull a loan from your share of the land, but that may be difficult
We've been in a deficit for the last 22 years. And have only had a surplus what, 4 or 5 times in the last 50 years. Don't make it sound like being in a deficit is something new.
Hello guys, my name is Von. I found a property that is currently in foreclosure, me and my siblings, all 5 of us want to purchase, is something like this possible for us to apply? We are not working with anyone.
You can. In my unprofessional opinion.. you may want to form an investment partnership and buy it within the partnerships name and EIN. (Coming from a tax professional, not a real estate professional.)
Possibly. You'll need something like a hard money lender. If the home is being sold at auction, you won't be able to use a traditional mortgage. Also, having 5 people on a loan is tough for most lenders
