Buying a House in 2024: The Ultimate Guide for First Time Home Buyers

[@432Tx]

First time home buyer and I’m Closing on a house at the end of January at the age of 21 god is good🙏🏼 just got done with paying for the appraisal today still need home inspection and closing cost. Goodluck to everyone

[@432Tx]

And very helpful video you hit it spot on step by step, wish I would have saw this video before!

[@NicoleNark]

So excited for you!! 🥳

[@brizzle3903]

I hope to be doing the same soon!

[@432Tx]

Been a pretty stressful process but it’s been going smooth just waiting on the surveyor to mark my boundary.

[@432Tx]

@@brizzle3903 you can do it!!!

[@josearmenta6872]

I’m looking at buying my first house in 6-9 months. I didn’t know where to get started and this video very much helped me get an idea of how to go about it. Thank you.

[@NicoleNark]

Glad it was helpful! ☺️

[@Iwouldneversue]

how has it been

[@FinanceEdHub]

How has getting your first house been?

[@ondemandaquaworkouts]

I am a Realtor! I am impressed with how well you explained everything. Great job! 👏

[@NicoleNark]

I appreciate it!

[@breadpulls]

Can you make a video for buying a home as a first time home owner in California ? It’s soooo rough in Cali .

[@MaximilianFischer497]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@EvelynBrooks0]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@TicheDebb0]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.

[@MarshalWagner457]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@TicheDebb0]

My CFA, Rebecca Noblett Roberts, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@AshleySommerset808]

Thank you for this tip. I must say, Rebecca appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@Tennis-3582]

If I say you’ve been awesome it’s an understatement! You really covered every ounce of it with simplicity and professionalism 😊 I’m glad I found out about your Chanel, can’t thank you enough!

[@NicoleNark]

Wow, thank you! I appreciate you taking the time to watch. Lots more is coming soon😊

[@divergentmind2023]

you are wonderful never had anyone explained it so well i used to have the agent license a life time ago 🤭 but only work as property manager. i am buying a home and wanted to make sure i remember the process… thank you!

[@NicoleNark]

Thanks for watching!! ☺️ I’m so glad you found my video helpful

[@tgaynorugoods]

Very thorough explanation of the process. Video randomly popped up, usually I keep scrolling but was hooked the whole time 😊

[@NicoleNark]

Wow thank you so much for the positive feedback. I’m happy to hear your found my video insightful ☺️

[@DoctorFashion]

Great video! What camera and lens are you using? You're looking sharp! I love it EDIT: I see camera gear list.. Thanks for sharing

[@MrHandsomeferny]

Hey Nicole, thank you so much for taking the time of day to guide us through home buying for us new home buyers!! ❤xoxoxo

[@mortgagewithclare]

Your step-by-step guide to buying a first home in 2024 is a lifesaver! 🏡💡 Excited to learn every detail, from financial planning to closing the deal, especially with expert tips for the current market.

[@NicoleNark]

Thanks Clare! 😊 I appreciate it and would love to connect with you!

[@AshDaeon]

Thank you so much for this. I thought I would have questions in the end but you literally covered everything I was concerned about. Now on to your video on debt to income ration because that was an issue I ran into a few years ago when looking into purchasing a home.

[@NicoleNark]

So glad you found the video helpful Ashley! 💕☺️

[@Trace153]

How long does a approval last, and how early should you get with realtors and loans approved.

[@slashwb1]

Man, that couple can basically afford a mobile home nowadays, lol. Thank you so much Nicole for your valuable content, I have watched many of your videos and they are all so so well detailed and you keep it interesting as you provide great information.

[@V3N0MX21]

Hi Nicole! Love the video it was very informative and easy to understand all the steps. I am planning on buying my 1st home.

[@jcortese3300]

This is golden information -- thank you! And yes, I would very much like to watch a video about how to draft an offer.

[@NicoleNark]

Thanks for watching! And you got it ☺️

[@taylorscott136]

thank you so much for putting this video out here. I will be buying my first home next year and this has answered soooo many questions I've had.

[@JoeSmith-p6w]

You make this so easy to understand, thanks for the clarity!

[@Alessandro1983]

Very useful stuff Nicole. Thank you for all that you do to educate those of us wanting ot optimize our knowledge in real estate.

[@NicoleNark]

You are so welcome!🤗

[@mikehernandez7462]

You give great insights on appraisal and negotiating, also the condition of the home

[@NicoleNark]

Thank you!

[@lyannegarcia4417]

Thank you so much for making this video! My husband and I are in the beginning staging of looking for a home and your video has been super insightful. I really appreciated the fact that you broke down what percentages we need in order to have our finances aligned. Thank you for not gate keeping this information :)

[@NicoleNark]

Glad it was helpful! Please let me know if you have any additional questions. I’m happy to help in any way I can ☺️

[@habibbdvs]

Thanks so much for this detailed guide! Your tips on saving and finding a great realtor were super helpful!

[@brownsugar2u]

Thank you! This was a very detailed video on the house buying process. One of the best videos I've seen on this topic so far.

[@NicoleNark]

Thanks! I’m glad you think so! ☺️

[@kimberlycaritas]

SO helpful to have it all laid out like this. Thank you so much for putting this together!!

[@faith6272]

Hello! Great video which credit burea score will they be looking at? And how long is the process?do I hire my own home inspector? Or realtor helps with it

[@GNegasi]

I really enjoyed the video and got good picture of what is coming down the road.

[@NicoleNark]

Happy to hear that! Thanks for watching ☺️

[@tiffanylueong4451]

Very helpful! Thank you so much :)

[@MichaelWilliams-by8tg]

Good morning Nicole. Are you a realtor in Florida?

[@marielaserrano5733]

This was an amazing video and I’m not a first time buyer! We are about to list our current house this spring and buy our third home most likely “forever” home. Any pointers for sellers or not first time home buyers?

[@NicoleNark]

Thanks so much for watching! I'm happy to hear you still enjoyed the video. 😊 As a seller/buyer come 2024, my biggest advice is to give yourself ample time and keep an active eye on the market! The best time to buy next year may not align with the best time to sell. Making sure that you have a fantastic agent by your side to assist you with figuring out timelines will be of utmost importance!

[@silviasaucedo6092]

@@NicoleNarkcan you do one with how to do a listing process and when is the right time to list a home Thank you

[@nimrod275]

My advise is when you get a home inspection, be there with them and ask a lot of questions if need be. When I purchased my home I was encouraged to be there by the inspector.

[@lakaypage2603]

I would like to see your thoughts in a video regarding terms and offers.

[@JustnPage]

Super helpful video! First time buyer here looking at a Lennar home in Land O Lakes. This video is very encouraging!

[@NicoleNark]

So happy to hear that! ☺️

[@RL-ql5mt]

How can people save that much money, I’ve worked my whole life and living is just so expensive I don’t understand how people can afford to save 6-7% of a house 😫

[@GérieChristian]

Same here😢how????!!

[@StevenPGonzalez626]

They started young. Never faltered. Had one shot. But you can do it. The next goal would be to pay it off before retirement

[@chambliziOfficialChannel]

Let Amazon keep working like sears f around and find out

[@bobbydee9532]

Live with family is most ppl way to save. But the issue here is, ppl most common mistake is they don’t save while they live with their family. I’ve lived with my family for 33 years, I could have saved more but I try to not be too frugal as it takes away quality of life. I saved up $115k In California.

[@DJO_NYC]

Best video I’ve seen on this topic. Thank you.

[@NicoleNark]

You are so welcome!! Happy to hear you found it helpful ☺️

[@plzhd2]

Very helpful. But I'm more stressed. Didn't know I haf to go "shopping" for lender. I applied w/my bank and got approved in 30 minutes or so.

[@Me-xm4tg]

I love all the info you provided . My only question is should I as a buyer get a attorney for closing thanks Rick

[@justinsoriano157]

If the agents are splitting the commission, why wouldn’t the buyers agent also try to get you to pay more ……. If The sellers agent has to split it with your agent …..????

[@tsheejkoo]

Technically, the agents don't split commissions. The sellers agent and it's brokerage collects all the commission. But as an incentive to draw in customers, they'll offer to split their share of commission with a buyers agent if they can successfully bring a buyer. It's better for a buyers agents to get a smaller commission for a house his client can afford than collect nothing for trying to hike up the price. In addendum, buyers agent are contractually obligated to their clients best interest. Here's an obligation from the exclusive buyers agency form "exercise reasonable skill and care for BUYER, and promote the interests of BUYER with the utmost good faith, loyalty and fidelity unless acting as a Transaction Broker, or as a Disclosed Dual Agent..."

[@mthlay15]

It happens for sure.

[@JustlaughKul]

@@tsheejkoothank you!!!!

[@kandraw9125]

Yes I’m buying my first home this year!

[@NicoleNark]

How exciting! You are already on the right track by educating yourself about the process

[@CarisaRae]

Sharing with my clients/customers because this is wonderful! ❤🎉

[@NicoleNark]

Thank you so much! 💕

[@gatesabebe1329]

Super good clarification !! Thanks so much !!

[@silviasaucedo6092]

Yes! Definitely a video on making an offer

[@NicoleNark]

You got it!

[@gymotc]

This video was extremely helpful!!! Thank you!

[@NicoleNark]

You are so welcome! I’m happy to hear that you found it helpful ☺️

[@Tieshaknox]

Thanks! My closing date is April 11th 🙏🏽

[@NicoleNark]

I’m so excited for you Tiesha!! 🎉

[@Thumbelinamine]

Thank you for the helpful video. 🙋‍♀️✅A quick question I have is, if your pre-approval expires (since it’s only valid for 60 to 90 days) and you have to file a renewal of your pre-approval, would that affect your credit score again?

[@Aeromatt123]

I’m curious why the appraisal process would come after you submitting an offer? If that’s the case, wouldn’t you always run the risk as a buyer of offering too much versus what you can actually get a loan for? Is there a way to have the appraisal come before submitting an offer?

[@NicoleNark]

Great question, Matthew! There are a few reasons why the appraisal comes after the offer. First, the appraisal costs time and money. Usually appraisers will have 10 days to get these completed and are $500+. It would be risky to have a house appraised if you are not under contract because in the amount of time you have spent waiting for the appraisal to come back, another buyer could have made an offer and had it accepted. This would essentially make the appraisal you were waiting for useless. Now with that said, there are some ways that the risk of overpaying is mitigated. As a buyer’s agent, I’m never going to take the seller or listing agent’s word for what a home is worth. If you were my client and wanted to make an offer on a property, I would run a report of comparable sales for us to discuss and we would use that information to craft your offer. Comparable sales are also what an appraiser will be looking at when the appraisal is completed. As long as you reference the “comps” you shouldn’t be overpaying. In my years in real estate and hundreds of transactions, I think I’ve only had a low appraisal once or twice. Hope that info helps! Let me know if there’s anything else I can clarify! ☺️

[@vaibhavamle8901]

​@NicoleNark Hey, Upon the appraisal if the home value is more than 15% and we made down-payment of 5%. Does that mean we have already built an equity of 20% and avoid the mortgage insurance in FHA? you response is appreciated!

[@LynaRivera-m7y]

If appraisal comes back higher, then how or why do we need to negotiate with the lender again? We are looking into buying our first home and we don’t know much.

[@SharonLowe-vb8jv]

Hi very interesting video. Is now a good time to buy a house in New jersey? House prices are skyrocketed.

[@User-hj6vx]

My current lease is up in 4-5 months. At this point I check all the boxes except for the down payment. And honestly I’m not going to be able to save up $25k in 4 months. What options do I have? I’m done wasting my money on rent. 23. Single. 2+ years employment. good credit. Roughly 75k at the moment

[@NicoleNark]

I’d recommend saving what you can but also looking at down payment assistance programs. Depending on how your income compares to the median income in your area, there may be state down payment assistance you qualify for. Another option is the USDA loan! If you are buying in a city with 30,000 or less people, you can use it to buy with no downpayment. I have videos about it on my channel ☺️

[@demonhalo67]

Can you not move back in with you're parents for just a few months,? house share with friends?. Yeah you don't rent, no future, no security, financing other people's lifestyles.

[@bryant_a2]

Is it cheaper to buy a fixer upper? Or just get pre approved for a loan To buy a abandoned, fix upper ? What the best way to go it’s 2024. I’m thinking dis year I’ll become a first time home buyer

[@NicoleNark]

I think at one point or another everyone contemplates buying a fixer upper! (I blame hgtv and the diy videos😅) In all honestly, fixer uppers are not glamorous. Because of the fixing needed, usually they are difficult to finance meaning you need the cash up front to buy them and fix them. If you have cash and are very handy, they can be a great option, it really just depends on your goals and tolerance! ☺️

[@rooch11]

Thank you! This was so helpful and clear.

[@NicoleNark]

Glad it was helpful! ☺️

[@Armatoly]

Thank you! This was a very detailed video and explanation. what are the things i need to look for or do during the loan if i get a contract with a lender but i would like to keep putting more money when i can besides my monthly house payment throught out the years? lets say my house payment is $2500/ month but if i ever have some extra money add additional money without having problems with the contract.

[@NicoleNark]

You will want to look out for a pre-payment penalty! No need for you to get punished for putting more money towards your home ☺️

[@NoelaN-en6yl]

One stop shop video ❤ you are great !

[@SCSC-qz7rr]

Question: I’m planning to buy a house at another state, therefore, how is my realtor help me look for houses? I was under the impression that I would visit the other state and my realtor will take to see different houses during my stay let’s say a week to look for houses. However according to what you’re saying is I’ll be looking online and/or go visit houses on my own, if this is the case, what is the realtor getting a commission for if I’m basically doing all the work? 🤔

[@mortgagewithclare]

Great question! When buying out of state, your realtor plays a crucial role even if you're browsing online. They help narrow down options, provide local insights, and guide you through the process remotely. While you might visit houses on your own, their expertise ensures you make informed decisions. The commission covers their expertise, negotiations, and overall support, making the long-distance homebuying process smoother for you.

[@NicoleNark]

I'm so glad you asked this! 😊Overall, I agree with everything that Clare said above. When I work with clients moving in from another state the process usually goes as follows: 1. We do an initial phone or zoom consultation so that I can learn what you are looking for and understand your motivations. We usually knock out the buyer agency paperwork at this time. 2. I will send homes to you that meet your criteria. 3. If you decide to travel into town to view homes, we will spend that time looking at properties together. If unable to travel in, I personally will handle showings via facetime or zoom. 4. Once we find the perfect home for you to make an offer on, we proceed with all of the remaining steps outlined in the video! Overall, in terms of work load involved the process is pretty similar whether your feet are on the ground as a buyer or you decide to go through the buying process remotely. Hope that helps! Let me know if there's anything else I can help clarify!

[@SCSC-qz7rr]

@@mortgagewithclare thank you for your reply, it helps a lot.

[@SCSC-qz7rr]

@@NicoleNark thank you Nicole for taking the time to reply to my questions. I just wanted to be clear on the process when purchasing out of state. By the way, I enjoy your videos very much, however,I’m have to admit it gets a little overwhelming for me. Thank you again!

[@NicoleNark]

@@SCSC-qz7rr you are so welcome! I TOTALLY understand the overwhelming feeling. The good thing is, you are doing your homework on the front end. It may not feel like it now, but learning all of this is going to make the process go so much smoother for you and you will be WAY ahead of other home buyers ☺️

[@Clawdiatherescue]

❤ This video was GOLD 🥇 so many gems thanks so much!

[@NicoleNark]

You are so welcome!! Glad you found it helpful ☺️

[@TheMuzz743]

You're an Asset to real estate. Keep it up!

[@NicoleNark]

Thank you very much, I appreciate that!

[@karenhenderson5476]

Very informative...Thank you!

[@reneshacollins8782]

I’m a realtor and this is great information!

[@mayadominguez5184]

Fist time buyer, looking for a house to buy. Where you from? I would like to get more info.

[@homerhorowitz7649]

Question: if a buyers agent is paid a commission on the total sale of the house, wouldn’t they be motivated against the buyers interest?

[@thomasaviles9548]

Once you get pre approved how long is that good for?

[@NicoleNark]

Usually 3-4 months!

[@DARRENYASSEN]

usually 60-90 days based on lender.

[@wendymckendrick]

Hey Nicole, I love all the information you share and your video set up as well. Do you mind sharing what video editing software you use? Thank you!

[@NicoleNark]

Thanks Wendy! I use Premier Pro ☺️

[@wendymckendrick]

@@NicoleNark thank you!

[@josebarronjr5838]

Thank you for this informative step’s video! If you get to the closing step is there a cap on how extra funds you can bring above the CD amount?

[@NicoleNark]

To my knowledge there isn’t a cap as to how much extra you can bring. Just know that if you bring extra, the title company will immediately cut you a check for the difference. There isn’t a way for them to apply that extra to your principal balance for example!

[@donniesamples7285]

What’s the deal with a new construction home ? Can they go down on price or usually stead fast on terms. Also me and my wife have roughly $14,000 cash on hand and a house that we are you to sell that we are not living in that’s approximately worth $25,000-$30,000. Our credit is about 740 for us both. Our drive is about 46. What do you recommend? Our first time as home buyers.

[@MDALAM-xe4ez]

Thank you for sharing knowledge

[@milyoh]

Hi Nicole! love love your content ❤ first home buyer - would you recommend the rocketmortgage for someone who is willing to pay more than 25% of downpayment with an excellent credit history?

[@NicoleNark]

Hey there! ☺️ I say, fill out an application with them and see how their loan estimate compares to others. With a larger downpayment and excellent credit, the lenders will fight for your business so it’s a good idea to shop around and apply with a few!

[@springerbrady]

What do you use to edit your videos? Thanks!

[@homesbymikewalker]

good stuff, although definitely would be a good idea to update it for July!

[@NicoleNark]

There will 100% be an update! Waiting just a little longer to see how public opinion may or may not change

[@zinoleysen4393]

As a european the differences in this process are very interesting to see.

[@NicoleNark]

What are the main differences you noticed?

[@krystamatthews4048]

Thank you for this video. Now I do have a question. When we do the inspection on the house, does the inspector also check for pest? Or do we also need to get a pest control inspection?

[@NicoleNark]

Hey Krysta! Great question, in most cases a termite inspection and clearance will be done by a pest company if you are buying in a termite prone area. The regular home inspector isn’t necessarily trained in pests but will likely make note if they see an infestation or nest of some kind!

[@cristinawood1607]

Hi Nicole, you talked about the inspection and the seller's option to reject proposed repairs. If they do reject them, can you retract your offer if you are not willing to move forward giving the extra cost for repairs?

[@NicoleNark]

Essentially, yes! You can terminate the contract if you can not come to terms on repairs with the seller

[@Robyn101]

This is the plan: buy a house this coming year 🎉

[@NicoleNark]

You can do it Robyn! 🎉🏠

[@TaraLettman]

I am closing on my new home on July 15th and the appraisal agent is go to double check that the seller fixed what needed to be fixed

[@NicoleNark]

Appraisers will do that when there are appraisal required repairs!

[@Nninjarider]

HOW DO I SEE A LIST OF ALL THOSE NUMBERS BEFORE CLOSING ? the fees etc

[@NicoleNark]

You will receive a loan estimate early on with estimated figures of what you will be looking at. You will get the final numbers 3 business days before your closing on your closing disclosure!

[@bgmiller9453]

What is Ernest money? When is that used. What if house appraised for more than selling proce. Can seller blackout or change selling of home

[@SwayzeDaGhost]

Would it be better to get a home inspector to look at homes Im choosing before I choose a official home?

[@NicoleNark]

That’s a good idea in theory but may not be practical. Home inspections typically cost $350+ per house depending on your market. You wouldn’t want to spend that money without having the home under contract because you risk someone else coming in and swooping it up before you can.

[@uhpenyen4291]

Am I still considered a first time buyer if I current inherited a house? I am in the military, I live in another state as the inherited house and I have given my next base assignment in another state. Just seeking guidance. Thank you for all that you do.

[@NicoleNark]

Hey there! If your name is listed on the title, you would not be considered a first time home buyer. Being in the military, definitely look into the VA loan! It’s a great $0 down option ☺️

[@jeannavoegele3431]

Im planning on trying to buy a house in 2 years when should i start looking or getting a realtor? Im planning on moving in with my boyfriend

[@NicoleNark]

I would advise starting the process 3-6 months before you plan on buying!

[@Zahra97]

Hi Nicole. Your video is very helpful. I have a question. Who pays for the repairs? Is it the seller or the buyer?

[@NicoleNark]

In most cases the seller! It's typically not advised to pay for repairs as a buyer before closing on the house. God forbid, something happen in the transaction and you no longer can buy the house, you wouldn't want to have paid for repairs on a home that you do not own.

[@Zahra97]

​@@NicoleNarkPerfect! This is actually the answer I was looking for. Thank you so much for your response.❤

[@NicoleNark]

@@Zahra97 Happy to help!

[@Zahra97]

​@NicoleNark I appreciate your help

[@caroltung2667]

What is the difference of a mortgage broker and a realtor broker

[@NicoleNark]

A mortgage broker brings buyers and lenders together by acting as an intermediary between the two. Working with a mortgage broker can help if you want to shop around without the hassle of contacting multiple lenders on your own. On the flip side, a real estate broker (or realtor broker as you referred to it) is what I am. Real Estate Brokers have brokers licenses which allows them to oversee other real estate agents if they wish. In order to become a real estate broker you have to have first been a realtor for a few years and have reached certain benchmarks in your career. 😊

[@diegoantonioramirez1316]

Superb explanation!

[@NicoleNark]

Thank you so much! Glad it was helpful! 😊

[@kelvinjefferson2253]

Thank you for this all important information 💯.

[@NicoleNark]

You are so welcome! Glad it was helpful ☺️

[@jenniferanglin7767]

Hi! So I was in the process of getting my condo ready to put up for sale last month. Painting etc... I met with my realtor, she provided me with a sellers net estimate. In the mean time, I had a water leak issue coming in my kitchen from the unit above me. It's now been 3 weeks and still not fixed. The management company sent out a plumber twice now. They found the issue was from the drain stack which is also causing water leaks in the other unit above. I'm waiting to hear when the contractors will be out here to fix this issue. I'm told by the contractors they will need to cut into my wall to tear down my kitchen cabinet's, counter top and my beautiful glass back splash :( So my question is, once this is all fixed and my kitchen is repaired and back in place, do I have to disclose the water leak I had to potential buyers? Thank you so much!

[@NicoleNark]

Hey Jennifer! You should disclose the water leak when you sell. Most buyers will not see the leak from a drain stack as a bad thing since that can happen with any multi-story building. It’s always best to be upfront and honest. Make sure to mention that the leak was repaired and your unit was put back by the property management company.

[@jenniferanglin7767]

@@NicoleNark Ok, thank you so much!!💙

[@bensmith1043]

Do you need all cash for an all cash offer ?

[@jhonnygarcia7396]

Should I hire a realtor near the area which I plan to buy. Giving im buying in another neighbors state

[@AdnanKhan-kx8jr]

Comprehensive video explained each step perfectly.

[@NicoleNark]

Glad you think so! Thanks for watching 🎉

[@AdnanKhan-kx8jr]

You are welcome Nicole

[@minjikim2161]

I thought you are supposed to get pre approved first before hiring an agent? Or are those two interchangeable

[@NicoleNark]

The order on those two is really inter-changeable. I have been promoting getting connected with an agent first because they usually have good info on lenders!

[@mahalakshmivenkatesan2108]

Do we need buyer agent for new build houses or it's ok with direct purchase from new bulders

[@vivnell123]

What if you're looking for something with specific needs that aren't super common in the area? Would there be a time limit once your loan is approved and you have a realator?

[@NicoleNark]

Your loan pre-approval will likely be good for 90days without an additional credit check. If you are looking for something that doesn’t come up often, it’s a good idea to give yourself ample time to find it and work with an agent that’s well connected!

[@Poppi_Weasel]

Yes! How to make an Offer Video please!

[@NicoleNark]

You got it!

[@sagetaluy7800]

Great info girl!!!

[@yeshiwasengda1853]

Extraordinary Video as a buyer Thanks a lot

[@NicoleNark]

You are so welcome!! Glad it was helpful 🥰

[@GonzaMX5]

When getting pre-approval for a loan does the lender give you an amount that you are approved for or do you apply for a certain amount in your price range that you are shopping for. & once you get approved for a certain amount is it flexible ( example does the lender tell you okay you are approved for a 150k loan or do they tell you, you're approved for a loan between 120k to 150k & that makes it easier to shop different price ranges?)

[@NicoleNark]

Great question!! When filling out a loan application, you might see the lender asking how much you want to get approved for. Understand that this is just a baseline. It’s helpful for the lender to know upfront of you are looking for a $100k loan vs a $1mil loan. Regardless of what you enter in your application, after reviewing your finances your lender will be able to tell you what your maximum approval is for.

[@GonzaMX5]

@NicoleNark Okay gotcha thank you so much for your help!

[@tsheejkoo]

Also what you're approved could be different from what you can afford. Personally, we were approved for a 250k loan but we knew we could not afford that payment. We settled for a 190k home.

[@millenialmemoirs]

Wife and I want to buy a house but can’t make the numbers make sense. At current interest rates with 10% down, we’ll be under water for like 25 years, assuming the house appreciates normally. That’s an $1800 mortgage, plus taxes, insurance, maintenance etc putting us at $2500 monthly to be underwater on the “investment” for a quarter century. There are so many better options to grow a nest egg in 2024 while renting a 1500 square foot house for $1700 a month.

[@NicoleNark]

Purchasing definitely isn’t the best option for everyone! I hate that so many real estate agents push home ownership as superior to renting because that’s just not the case. I am curious to know how it is that you are figuring you’d be underwater for 25 years. It does take time to build equity, but with 10% down you shouldn’t be underwater. If you don’t mind me asking, what figures are you looking at?

[@millenialmemoirs]

@@NicoleNark just doing a basic amortization schedule calculator at 7.75% interest for a 30 year fixed rate mortgage on a 250k house. Break even takes about 25 years.

[@CarisaRae]

But my question is, in 25 years, do you want to pay rent, (which will definitely increase), OR just pay taxes on your paid off property????

[@millenialmemoirs]

@@CarisaRae as long as I can continue to put money into the financial markets and make 30% CAGR returns on a 4-5 year timeline, I’ll keep renting for at least another few years. Then we’ll buy.

[@cynthiapowell9712]

I love this video. Thank you Nicole 💜💜

[@NicoleNark]

You are so welcome! Thanks for watching ☺️

[@mirnasancheztrejo1123]

Love you! In the market right now 🙈

[@NicoleNark]

You've got this Mirna! 🎉

[@mishaw6132]

Your advice is wonderful!😊

[@NicoleNark]

Glad you think so!

[@JUICYTBONE]

How long does all of this typically take beginning to end.

[@NicoleNark]

3-6months

[@neftalilomeli847]

Amazing exposure and guide

[@NicoleNark]

Thank you 🙌 Glad you liked it!

[@MasonLeMay-rf1gx]

If I could come to the negotiations with cash, do I by standard get a discount?

[@NicoleNark]

Not necessarily. Although it can make your offer appear stronger

[@ramandeepkaur6242]

Best way to check credit score online?