How To Buy Your First House With An FHA Loan *Step By Step Breakdown*

[@ShaChillese]

The GEMS in the video is unmatched! To be honest although the interviewer and interviewee had moments of miscommunication this is an UNCUT conversation that accurately mimics questions asked by a new home owner. Great job guys & thank you for offering such in depth information free to the KZbin community. Usually this much info. would cost close to $1,000 in a course.

[@rubianfoglia]

Since 2005, I have been in the mortgage industry and I learned that a college student history would qualify for work history. Great information!

[@August_VeryOwn]

Thank you guys. Super grateful 🙏🏾💪🏾

[@mooreoftre]

wow thats awesome to know!

[@oletachong8092]

It’s good to hear someone really educating people on home loans and not get rich quick schemes 👏🏾

[@deano7993]

you guys are a great team. Very unusual to get the uncut version, and I enjoyed the back and forth and what it looks like when people work together- you learn alot about people watching them work together - entertaining and educational.

[@shespeakz9377]

I was very careful when buying my home not to get something too expensive. I was qualified for around 500k but stuck to 300k with a 2.75 rate that ended up being equal to what my rent was. Homes in my community are renting for $3300 a month so even if I decided to rent out at some point it's a win

[@darliceslack4459]

You gone charge 3300a month because you can or ?!? The rat race is scary. I’m wondering if I will go this route or maybe knock off 500. Then again money is demanded which is why they demand the 3300

[@ethanbaker5987]

@@darliceslack4459 thats exactly right, because she can. Thats literally the American dream, moving up classes. Dont you want to take care of your famly? get that socialist shit outta here.

[@JackLoiena]

I'm not one to gush about services, but this one deserves all the praise. It's more than a service; it's a game-changer 911 Get Today . My life has become so much smoother.

[@jennifaohhh]

Smart! Smart! Smart!

[@cjlove8942]

The way you guys work together and explain everything is raw and everybody is able to receive it.

[@AgirlnamedNisha]

Neither one was focused if u ask me. I’m about 10 minutes in and they’re all over the place. I’m trying to stick with this interview

[@ThornsNRoses]

32 minutes in and already learned 2 good pieces of info !!

[@TheMexrican70]

I really liked this video. It felt like we were just having a chill conversation in the backyard. So easy to comprehend. Well done.

[@keripeggy4359]

This is the best real estate video I've watched and I've viewed many. This guy on point with everything .😂

[@Sunlova]

I trust this man. Straight to the point and very knowledgeable.

[@NissyAllisonLegacy]

The interaction between the two of yah is mad funny thanks for the information Mortgage man !

[@yolinsjeanfrancois7311]

The level or knowledge and vulnerability is real. I am getting ready to get my first property and I am so glad I came across this video.

[@NPCJERRY]

Thanks this helped me a lot and i wrote mad notes on it im 15 trying to get this down at an early age evben tho i wont be able to do anything untill collage

[@geolifestyle5015]

Proud of you bro keep it up please man you’ll go far

[@dianechapman9887]

MG finally answered a question I've had in my head a long time. Rehab Loan! Thx MG. I would like to sell my mom's house, but her house requires many repairs & updates. Whew! Rehab loan; problem solved!🤷 Thanks again! Y'all right about the statement, knowledge is power!"

[@abbaaddson2311]

So the rapid credit response he's talking about can be done for free. Things like credit cards and so. If you pay them down below 30% it will show up within 30 days. Also can put something on your credit card that is small and pay it off before next bill work. They will automatically increase your credit. And if you want to send a little from borrower showing proof of payment to all three credit companies you can also do this yourself, they will gladly add it to your records. I HAVE DONE IT MYSELF SO I YOU CAN DO IT FOR FREE. LEG WORK.

[@The_Dancelegz_Experience]

Ohhh bravo!!!!

[@brandonmontenegro7240]

GEMSSSSSS. Watching this video a months later and and the way they go about this video it’s make it run and come out amazing.

[@NaeWay84]

This is my first time stumbling across your video, and I felt you were asking great questions. The guy being interviewed was so rude, as if other people have definitely seen the previous video about it. He could have at least briefly touched on it, then referred everyone to the video that goes into further details about it. This man’s character and demeanor may be his biggest flaw in this business. That and missing questions, and needing them repeated.

[@sheteraberry1659]

🎉🎉🎉I'm so glad I saw him love the education on the home buying steps ❤& yes the mortgage guy is soo handsome 😊

[@AaronMatthew]

Bro - it took way too long for folks to get the 1.75% of 100k 😅 this is good content 🎉

[@Alessandro1983]

Im 40. No kids. Not married. Never bought or invested in real estate. Got a 700 credit score & plan to house hack to earn passive income & appreciation. I love these gems. Never to late or too old to start investing or learn something!

[@ObliviousMalodi]

Housing is a right not an investment.

[@soniagonzalez1462]

Awhhhh he is adorable with his questions. It's great because these are in fact many people's questions, especially the young generation looking to make some power moves... Love the conversation, it's like a big brother/uncle talk. What an awesome to be in to have MG as a mentor

[@stetsonwashington]

Preciate it ya'll frfr this just changed somethings for me frfr. God bless. I'm locked in

[@reginaldsmith5694]

Thanks!

[@jefferyedwards-jk4dr]

First time viewer that u for all the positive information

[@cheflev9884]

This is outstanding free information. I am watching this video and taking extensive notes, including links to all the relevant docs, calculators and government websites. So far everything he is saying checks outs. It’s incredible how useful this video is free of charge.

[@asiasolomon3922]

The way you broke it down, just wow. I'm so glad I'm subscribed to your Chanel.

[@Lets_Cash_2Day_ROL-TubeTV]

I thought the 3.5% down was only for people with a credit score of 580 or better - and 10% down for people with 580 or lower. It doesn’t have anything to do with the size of the house. It’s all about your credit score

[@GarrettFeisSr]

Most lenders want a 620 credit score for a reno loan but, there are some that will do one at 580.

[@feliciaallen6228]

Yes, you are correct.

[@feliciaallen6228]

He is referring to FHA guidelines and he is correct about the different percentages

[@speakyourpeacee]

Great information im from Canada and even though some of the rules are different i can still use this information to work around it. Great work 🔥🔥🔥🔥🔥

[@JustAnother.DayDreamer]

Holmes said he a lil spicy today then got spicy, goofy😂😂.. word of advice some people are seeing you and your channel for the first time and do not know the relationship for the two of you. First impressions are everything. We know one follower does not matter, but the arrogance and belittling will run people that actually want to learn the knowledge away and make them feel incompetent. We want to put all our brothers and sisters on, so let’s do that

[@anthonyalava2478]

MG always got a straight face when he say pause lol I couldn’t hold it back this time , son said “Super pause”😂😂😂

[@jillmandley234]

When you spoke on being shady by putting mattress money into Mommy's account and having her gift it back to you that would create a large deposit that has to be sourced and "seasoned." So when he asked you for how long does it have to be in their account and you responded, "They just need the most recent bank statement that," that is not true. It needs to be seasoned for 90 days in Mommy's account. Don't know why you have to give mommy the mattress money though.If you’ve already got mattress money, open a new savings account and deposit the full amount in. You’ll need to let this balance “season” for two to three months in order to prove it’s yours. Same thing for the mommy situation so why add her to the mix? CHILD SUPPORT - there is a question on the loan app that ask if you pay alimony or child support. You must disclose. And if you are in arrears this can be reported on your credit report. The loan app also ask your marital status for a reason if you say divorced or unmarried and you also have to say how many dependents you have and their ages and a GOOD underwriter is going to ask for a divorce decree and for child support arrangments. Medical collections - they are not held against you or required to be settled before closing. You said judgements would come up on title - they will - but you are talking about a Purchase transaction in this video so the title is liens of the seller's that will appear on the title not the borrower. It will reflect on the borrower only in a refinance. FYI - your mic is close to your throat and you can hear the gulps when you swallow. Oh and you are short with your co-host. I don't think I could laugh and smile like he does.

[@Pimpin0225]

Well damn 😂

[@kaye7992]

Yes, I agree 100%! I appreciated the sharing of knowledge but it was awkward listening to the disrespectful tone towards the cohost. Just saying, don't do a video if you're too tired to be respectful and professional throughout the process.

[@kashiseverything2259]

the gulps were killing me

[@Tri-valleyrealtor]

Well explained! I will send this link to my clients.

[@veey9274]

Wealth of knowledge! I learned so much. Thank you and YES I DID “LIKE” the video! 😂💯

[@Scottie5401]

Thanks for these videos. Glad i found your channel. Going to cop the book next

[@17Btrfly]

You guys are so funny, but I learned sooo much. Thank you!!

[@EliseBeautySupply]

Thank you for sharing this valuable home buying information. I heard what I needed to hear regarding co-signers.

[@BeadnWithNicoleB]

I'm NEW here! Did you say forget the newbies 😏🤔😒......yea ok, Sir 🤣🤣. Anyway, I'm glad that I found your channel because you seem to drop a lot of great info and gems.

[@yanniyinn]

always dropping gems!

[@rogerpope]

Amazing and super helpful breakdown!

[@dianechapman9887]

Good question! How do you calculate your DTI! Currently, I'm reading Matt's bk "House Hackonomics" almost done reading it, great read so far!

[@Rivalsthebestgsme]

Needed this video very informative and the dialogue between the two was great !

[@freshfly14]

“Once you go out one night in NYC it’s over” I felt that 😂💯 Shout out to bro for dropping free gems.

[@treasuresbysata2165]

Yes the 2nd image is much better! Great Indio Mg

[@ayishaablake4397]

Thanks for the education this was so helpful and informative!

[@jarronellis5801]

That was very informative thanks for sharing ,

[@gellirollz]

I didn't know the college for 4 years and then have a job for 30 days or more and you can use it as your employment.. Wow so valuable!

[@thementalmentor6337]

Great information here and thanks for sharing it!

[@sudeanharry]

This guy doing the interview! That’s answering the question I cannot stand his guts! I couldn’t even learn in peace because I hate his attitude

[@Mgthemortgageguy]

You can unsubscribe

[@sudeanharry]

@@Mgthemortgageguy oh it’s your Channel? Honestly I was never even subscribed. The video just popped up on my KZbin. I thought it was the guy asking the questions KZbin Channel, I didn’t look into anything I’m just at working listening so I wasn’t actually watching the video . Now I see it’s your Channel. That might just be your personality idk just not a fan of your personality

[@sudeanharry]

@@Mgthemortgageguy very informative though 👍🏾

[@the5dollarstylemavenboutiq832]

Thank you for this video! Knowledge is power 🎉🎉🎉

[@nikaward6048]

Everything was clear on the screen. I had no issues seeing any of the pictures

[@bun4176]

It’s a difference between wanting to help and share knowledge with others who are seeking, than to be arrogant about what is being shared. Take it as a child wanting to come out of a diaper to wanting to use the potty. The desire and the obvious tools may be there but questions and concerns may still be in their mind. Taking time and being patience allows for the audience to ask in confidence and not feel intimidated. In a higher note, outside of overly confident session, I was able to get more knowledge of what I am currently going through. Thank you!

[@keepingupwithwendy4174]

This is great information looking into buying real estate soon

[@HollyWoodReg]

I appreciate the knowledge. I wish I could jump on a one on one

[@gorgeousbrandent.9224]

probably a good rule of thumb is to not take advice from someone who belittles others and curses so much while he doesn’t even remember the question asked of him on a podcast he chose to “help”.

[@thefablesfolly]

That's the kind of guy I want lol he's real

[@barefoottj7737]

Great video keep up the good work my G.

[@JohnWilliams-qi4dp]

Honest and knowledgeable.. 🙏 Appreciate the Pop Quiz!!!..Much Respect for breakdown of the system for many to understand...

[@ElPhyl]

ALL this information and website search for free.....bro you amazing guy...

[@leshelangbeen7256]

A modest home is 375K for 1500 square feet. How do you qualify as a first time buyer for this home. the down payment of 3% in hand. Banks are more strict than ever before.

[@ethanbaker5987]

move, good house near me wont run more the 250,000 200,000 average

[@iris118marie]

How do I apply for an FHA loan? Should I apply with my bank / credit union or any bank? What things should I look for in a bank?

[@Sweetquietstorm7536]

💎💎💎💎💎 MG always coming with it! Great information, thank you!!

[@latoya4366]

I am currently working with a lender now who is doing this with my score right now. I sent him over some information reflecting somethings that I have already been paid. He said it can take up to 30 -60 days to reflect the updates

[@Sereneisthedream]

Thank you! This is exactly what I needed!

[@tawnsanders226]

Thanks, because me and my husband had a lot of questions about that

[@wilkinspimentel380]

Can't wait for my 2nd W2 and get started 🎯💯

[@scorpion777silvermoon3]

Wow. Thank you for this knowledge!!!

[@mandymaphosa9401]

Information is power. Thankyou much🎉

[@perlarosel1705]

This is my first time watching this guy’s video and even though he’s so informative, what a rude and arrogant guy. Annoyed the whole interview, I mean come on if we’re watching it’s because we’re trying to get informed. I felt so bad for the other guy the whole time!

[@cjlove8942]

Much appreciated, guys, for the knowledge!

[@petraguerrero4330]

I so needed this video🙌🏾

[@StephanieColbert-v2x]

Thank you, great information!

[@ajt1144]

🔥💪🏼 appreciate it family..keep these the videos goin🤝💪🏼🏁💯💰

[@myrleneedouard6680]

Thank you so much for your help I've learned a lot

[@SoniaGonzalez-bm9bw]

Always 🔥🔥🔥🔥 information 🙌🏽🙌🏽

[@lindac3388]

Love this guy, would love to use him to buy my first house

[@jujube8455]

I definitely understood a lot in this video GREAT information BUT the 1 question I have is if you have 1 credit line of 2k and in good standing and paid on time would a lender accept that ??

[@jujube8455]

@PheobeRichard yes he actually explained in another video he made recently saying that if they don’t accept that 1 trade line then they will do alternative credit but what program do you have ?

[@MrKelly-ll1lx]

Thank you for this information! Definitely a blessing! Wife and I at the beginning of the phase. My aim is to become a real estate investor in the future. Working on my ground game now 📖. Thank you!

[@notimeforweight]

Always great info and the best at breaking things down

[@margaretranalli6553]

THis is very helpful. Revbuilding after divorece.

[@manuelamesquita1832]

Thank you so much information how take first step.

[@rbernardo1040]

It comes down to AFFORDABILITY at the end of the day. In California, an average mortage will run about $4,500 plus a month. That’s a lot of money.

[@lavernpryce4011]

Thank you so much for this information

[@nikaward6048]

Wow I love this video, I learnt a lot.

[@eo1966]

grown men saying pause is funny lol anyway good video, took a lot notes, preciate u og

[@dtftransferzone]

"I just told you" haha. great video thanks for sharing!

[@danielofoegbu5532]

This is exactly what I was looking for 33:36.

[@Ronnie15369]

Hi, I currently own a single family home. How will i know if i can get a 4plex and should my single family thats my primary home be transferred into an LLC?

[@user-ud2qx5ci1j]

Thanks for sharing the gems so helpful

[@adrobin24]

This was so informative!

[@lasha4585]

Information is POWER!!!💎💎💎💎💎💎💎💎💎

[@1217monopoly]

How many hard inquiries can I have on my credit when applying for a mortgage

[@sangreen7723]

Good question

[@Melinasamayoabroker]

You are the best thank you for the advice

[@emilyullrich3431]

Do you know anything about the Chenoa (or other0 DPA to FHA loan programs...any advice or warnings?

[@tjtj6540]

You guys are hilarious😂 appreciate the information also

[@Mr.Adambrashear]

Question: After establishing the bank account that you’ll provide to the lender as supporting documentation, how long would that account need to be open before its considered to be sufficient by the lender?

[@sangreen7723]

My guess would be 2 years

[@daudasheriff5382]

These are gems!

[@HollyWoodReg]

Also if I buy a 4 plex with a FHA loan, I have to occupy one of the units?

[@skynIV2.0]

Yes

[@smithwillison6345]

Wealth is created by proper investment. That's why when you invest, you're buying a day you don't have to work.

[@ebonicalbert5711]

Yeah, there are importance of multiple stream of income, unfortunately having a job don't mean financial freedom or security.

[@smithwillison6345]

​@@ebonicalbert5711 Investing in this assets can make you rich Bitcion,Stocks and Real estate. Especially Bitcoin but it offers a good ROI under the supervision of a professional account manager.

[@williamadams2361]

​@@ebonicalbert5711You're absolutely right.

[@williamadams2361]

​@@smithwillison6345I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.

[@oscarkelly3378]

​@@williamadams2361 . I've actually been looking into advisors lately.

[@markymark6229]

Lmao I thought fha stood for “first time homeowner association”. 1min into the video and I’m already learning a lot

[@clem20k90]

As a 22 person looking into home buying do you guys recommend fha if not what do you guys recommend?

[@kathleenhoward8139]

So how long should you keep a fha loan and can you get down payment assistance with a 203K

[@GarrettFeisSr]

That depends on the assistance program as they are all different.

[@gstr3163]

Great Information. 👍🏾

[@gstr3163]

I'd love to partner with this guy on helping me with acquiring my first investment property.