Hi guys, Welcome to the Advanced Video Search Engine, and you are watching Types of Mortgage Loans Explained | Buying a Home 101 | Conventional. FHA, VA Loans | Your Rich BFF. That video is uploaded by Your Rich BFF at 2022-10-21T08:44:55-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [GTYLEJ1Fsh4]
| Name | Types of Mortgage Loans Explained | Buying a Home 101 | Conventional. FHA, VA Loans | Your Rich BFF |
| Video Uploader | Video From Your Rich BFF |
| Upload Date | This Video Uploaded At 21-10-2022 15:44:55 |
| Video Discription | โ @Your Rich BFF is back this week to help you understand the different types of mortgages to buy a home. Whether you're a first time home buyer or just brushing up on Real Estate, this video will help you understand some options to make investing in property more feasible For more information, visit www.YourRichBFF.com Sign up for my weekly newsletter: www.YourRichBFF.com/subscribe Chapters 0:00 Intro 1:14 Federal Housing Administration (FHA Loans) 3:04 Conventional 97 Loans 4:22 USDA Loans 5:50 VA Loans FEW THINGS TO KEEP IN MIND (LINKS INCLUDED): ๐ก Conventional Loans ๐ก 1. These are only for first time homebuyers (kind of a misnomer because it doesnโt actually have to be your first home, you just canโt have owned a home in the past three years) 2. For most locations the home canโt cost more than $453,100, and in high cost areas, this amount is increased to around $679,650. 3. Thereโs even a look up tool to check what the cap in your area would be: https://ami-lookup-tool.fanniemae.com/amilookuptool/ 4.The home has to be your primary residence 5. And as mentioned, you will pay PMI until you hit 20% equity ๐ก Three Types of USDA Loans ๐ก 1. A direct loan from the USDA - these are for low income and very low income families and individuals. Income limits will vary by location - if you're curious you can look them up here: https://www.rd.usda.gov/sites/default/files/rd-grhlimitmap.pdf 2. Similar to an FHA loan, the USDA can also guarantee a mortgage issued by a participating local lender. This lets you get a competitive mortgage without putting any money down, but again, as with the FHA loan and convention 97, since youโll be putting less than 20% down you will have to pay PMI - Private mortgage insurance. 3. the USDA offers loans and even GRANTS for home improvement. Yes - Grants. As in free money. Packages can also combine a loan and a grant, providing up to $27,500 in assistance. GTYLEJ1Fsh4 |
| Category | Education |
| Tags | real estate investing for beginners | how to invest in real estate | mortgage loans | types of mortgage loans | home ownership | buying a home | mortgage types | different types of mortgage loans | fha loans | conventional loans | loans explained | va loans | usda loans | pmi cost | home mortgage 101 | investing in real estate | buying your first home | mortgage | real estate | mortgages for first time buyers | mortgage explained | your rich bff | vivian tu | how to buy a house |
