New FHA Changes: Can You Still Qualify?

[@WinTheHouseYouLove]

Here's everything you need to know about FHA loans so you can make sure you don't run into any issues when you're ready to qualify → kzbin.info/www/bejne/iV7Zao2uf8qpnNE

[@keone5472]

You deserve way more than 5.4k subscribers! The quality of your videos is amazing and your voice is so calming. Rooting for you to blow up and get millions of subscribers, you deserve it!

[@WinTheHouseYouLove]

Hahah I appreciate your kind words!! Thanks for rooting for me, I'm rooting for you too!

[@ExitmagazineTV]

I think the KZbin gods heard you... Channel at 8k+ now Congrats!

[@YR-vz9ew]

Reginald Gravely I agree 💯

[@reesemonique]

he has 12k now!!!!

[@Calistenics_Life]

i was thinking the same

[@kimikakes8766]

I love your video, I’m new to your channel. I found a sense of calm, whereas most videos on home buying I watch make me nervous because their voices are loud and their tactics are scary and make me feel deflated. Your approach is gentle and reassuring. It actually made me feel quite comfortable. Thank you for the great info.

[@WinTheHouseYouLove]

Ah that's so great to hear!! Thank you so so much!

[@Sumysilz]

@@WinTheHouseYouLove This is exactly how I felt, when I stumbled on your video while trying to navigate this new experience! Clear cut and Calm :) Thank you!

[@Marie-pb2zy]

Exactly! I wish my mortgage broker was like him

[@cesarromero8241]

Kyle you're awesome! Thanks for the info in all of your videos. You have no idea how helpful you've been!

[@WinTheHouseYouLove]

Thanks so much!! I'm glad to help!

[@chabco2305]

Bro, you're probably the best source of information on KZbin right now. Some people will have a lot of good info and mix in a lot of just flexing about how rich they are. Props to you my friend.

[@WinTheHouseYouLove]

Ah thank you so so much! Hahah my only flex is how much I spend on coffee and tea (it’s way too much)

[@gailmarie65]

Thank you, I've been saving and working on my credit to hopefully buy end of 2020. These past few months have worried me

[@WinTheHouseYouLove]

You're welcome! Keep up the great work!!

[@madinahabdullah8169]

Thank you so much for doing these videos, they’re so informative and straight to the point 👍🏾

[@WinTheHouseYouLove]

You're very welcome! Thank YOU for watching!

[@raidersfanallday]

Awesome video. My lenders requirements had changed to a 680 score during the process so it delayed everything a bit. They were able to help me raise my score those extra points and we are finally closing tomorrow morning 🙌🏽

[@WinTheHouseYouLove]

Thanks! That's so great to hear, congratulations! Be well, Kyle www.winthehouseyoulove.com/

[@chevys26s12]

How did u increase ur credit score

[@soledadjames2727]

This was extremely helpful and gave me lots of talking points for my mortgage counselor. Your page is underrated, can’t wait to see you grow!! Thanks Kyle 🖤

[@WinTheHouseYouLove]

Glad it was helpful! Thank you so much for sticking around :)

[@mskneeknee8549]

That's what my lender just told me to do wait until my credit score goes up. I paid down my high balance credit cards to 10% & now just waiting for it to update on my credit report. I was at a middle score of 640. Hoping to get to a 700.

[@WinTheHouseYouLove]

Keep up the great work!!

[@chevys26s12]

So how much u owe in ur credit card ?...u planning to buy a house...did ur lender give u amount the u qualified of not?

[@mskneeknee8549]

chevys26s I’m under contract for a house now. Escrow closes end of July. I qualified for 230,000 2.875% interest rate. 667 middle credit score. I owe less than $600 on all 4 of my credit cards but I also owe 43,000 in student loans. No other debt.

[@chevys26s12]

@@mskneeknee8549 do u think i can qualify with 583 credit score karma shows the score i owe a autoloan for 16k and credit cards 4k...i make 53k a year...i wanna buy a condo is 110,000k i used to have 700 credit acore but i miss 3 payments it go down like crazy im worry cuz i decide to buy one right now

[@chevys26s12]

Do u think i can make it

[@sean8051]

Thank you so much for this update. Geez Covid, throwing a wrench in my master plan. I'll just sit tight and keep improving my score.

[@WinTheHouseYouLove]

It's tough for sure, hang in there!

[@OceanaK1]

This video is so helpful! Lenders should not be able to do overlays and change the credit score requirements. They should go just by the FHA minimum score guidelines. So frustrating!

[@WinTheHouseYouLove]

I'm glad it was helpful! It can be a bummer to run into overlays. Thankfully, there are lenders who don't have them too. Kyle Seagraves → winthehouseyoulove.com

[@nquintanaevans]

Awesome. I love the way you clearly explained the process. I am new to all of this and I can see how easy it could be so overwhelming. Thank you!

[@WinTheHouseYouLove]

You are so welcome!

[@phonografiti]

Thank you for the videos. I was excited about not being completely hopeless when it comes to home ownership but after seeing the changes from lenders. It made that hope go away and back to where I started before I discovered your videos.

[@WinTheHouseYouLove]

You're welcome! This is a tough market and economy for sure. Hang in there! Your patience will pay off in time.

[@phonografiti]

​@@WinTheHouseYouLove Yes sir!, really starting to research alternative means to gather wealth. Im 35 currently, my 5 year goal is to be a homeowner. Even if i saved 500 a month it'll take almost a decade to save up for a conventional loan. Which appeals to me more because i love working with my hands and have a diverse set of skills, would love to renovate a house. Cue house renovation montage from 80's movies!

[@dawncoburn9476]

Going through this process right now... had the preapproval done last month ... currently in underwriting process for FHA loan. Thanks for the video!

[@WinTheHouseYouLove]

Awesome! That's so exciting! You're welcome, thanks for watching!

[@doubleupfashion7198]

What was your credit score if you don’t mind me asking ?

[@doubleupfashion7198]

I’m thinking maybe to go conventional with 5 percent down .

[@2508fredy]

Double Up Fashion hi dear how to apply??

[@chevys26s12]

How much was ur credit score?

[@WinTheHouseYouLove]

1:01 The main FHA change from COVID 1:33 Most lender's FHA credit score minimums now 1:56 Did FHA actually change the rules? 2:06 What are overlays? 2:40 Reserve requirements and how they work 3:08 The advantage of working with a mortgage broker 3:33 1 lender who still lends down to a 500 score 4:24 Are FHA loans more costly right now? 4:58 Employment verification changes 5:33 Why are FHA loans affected so much by COVID? 7:57 3 strategies you can use 9:59 How to build your credit score

[@WinTheHouseYouLove]

🎧 Listen To The Podcast plinkhq.com/i/1493715474 💰 7 Proven Ways To Save Thousands On Your Home www.winthehouseyoulove.com/free Do you want to: ✅ Get pre-qualified? ✅ Schedule a call? ✅ Text me a question? ✅ Email me? ✅ Get a Realtor/LO referral? ➡️ Go to www.winthehouseyoulove.com/

[@Nazeemamari]

How do i get in touch with the lender with the 500 fico requirement?

[@chevys26s12]

@@Nazeemamari did u buy ur home?

[@Nazeemamari]

chevys26s right now I’m in contract .. but you know it ain’t over until in closed

[@Nazeemamari]

Dee go to Naca.com

[@helloamericanbabi]

Thank you Kyle! This was really helpful! I've been watching your videos and just subscribed because the information you provided is direct (no fluff) and easy to digest. And your voice has a smooth texture - perfect for your narration. Thanks again!

[@WinTheHouseYouLove]

Thanks so much! Glad to help! Thank you for watching and commenting!

[@2ne1always]

Thanks for the video. Very informative! Can you do a video on trying to purchase a home with a lower income? Is it possible, with a solid savings account and great credit?

[@WinTheHouseYouLove]

Thanks for watching! Great suggestion!! Adding it to my list of ideas! - Kyle Seagraves winthehouseyoulove.com

[@Masdo2012]

Kyle please do a video to explain what is included in closing costs and another one to explain how the interest rate works...please.

[@WinTheHouseYouLove]

I have both. Search for them on KZbin

[@joelcalvary1087]

Thank you, Kyle, for sharing your pieces of knowledge, greatly appreciated.

[@WinTheHouseYouLove]

My pleasure!

[@wesleywright6458]

Just subscribed, I would love to buy a home now, but I'm not ready. I've been working on my credit score. Home prices are out of control in my entire area of rural northern California. So I'll be working and waiting for the best opportunity to become a first time buyer.

[@WinTheHouseYouLove]

Thanks for subbing! They are so expensive in CA!!

[@mrlevitate1535]

Thank you for this! Well put and great quality. Love your channel and info bro, keep it up

[@WinTheHouseYouLove]

You're welcome! Thanks for watching!

[@Dirtyboxer1]

I've been working diligently to increase my credit score, pay off all my old/bad debt, and save money. This feels like the goalposts are being moved. Very frustrating, because just like gas prices they'll increase requirements in a heartbeat, but it'll be years before they lower them again. I was looking to buy at the end of this year, but it'll be the end of next year at the earliest.

[@WinTheHouseYouLove]

Great work! It's disappointing for sure. Temporary setback! Roll with the punches and keep up the great work. It will pay off :)

[@rafaelparedes1937]

Hi, Thank you for the videos. Very informative. Question: You talk about people having low credit scores, what about the people who have 780 to 800 credit scores? but don't really have that much money for a down payment? thanks again!

[@WinTheHouseYouLove]

Ah great point, I'll work that into some future videos!

[@momofmany9954]

We are currently in the FHA loan process! My husband and I went from being approved for a conventional loan without issues Pre-Covid to having to switch to FHA in may due to stricter requirements such as higher credit score requirements, larger down payment requirements and larger liquid assets availability. With an FHA loan, we are also noticing that we are being looked at harder. They are double checking my husband's employment again and again. As long as the buyer on our starter home we currently live in stays on track, we will be closing on our new home in late June. This has been very stressful and I'm ready for it to be done!

[@WinTheHouseYouLove]

Ah that's a bummer! changes are no fun. Lenders are continually checking employment now with all the layoffs happening. Best of luck!!

[@momofmany9954]

@@WinTheHouseYouLove it is what it is.🤷🏼‍♀️ I just hope the VA hurries up with it's Appraisal. It's been 10 days since it was ordered by our buyers and nothing yet.😑

[@mariahowmuchdoesthisprojec6229]

You're a great teacher!!! Outstanding! Tks

[@WinTheHouseYouLove]

Thank you so much for watching :) Kyle Seagraves → winthehouseyoulove.com

[@luxeashley1]

I absolutely love your content! It’s been extremely helpful to me so far. Following your tips I have increased my credit score over 100 points since February 2020. I am in Ohio and I’m looking to build or buy and existing home in Pickerington where I currently rent. I will be contacting you within the next 5-7 months if not sooner.

[@WinTheHouseYouLove]

Thanks so much!! Wow, that's incredible, thank you for sharing!! Let me know if you'd like to do a video interview on how you raised your credit (shoot me a text 937-249-0481 if interested)

[@williamfloyd4669]

Thank you for making this video. It was exactly what I needed. Blessings to you.

[@WinTheHouseYouLove]

You are so welcome

[@marialaurafrias5881]

Thank you, needed to hear this it helps me to see whats steps to take to buy a home. You explained it well for me. I subscribed to you.

[@WinTheHouseYouLove]

You're welcome, I'm so glad it helped, Maria :)

[@KellyKels23]

I know you don't suggest using down-payment assistance, but my plan was to use that + gifted funds from my mom for the down-payment then use whatever I save as a reserve & to pay for any out of pocket costs. I got my DTI down & credit score up so now I just need the savings/down-payment.

[@WinTheHouseYouLove]

Great!! Keep up the good work!

[@marioderioverde4470]

You are one of the best in UT,clear mind,thanks.

[@WinTheHouseYouLove]

Glad to help

[@ivorinegardner5651]

As always, thank you for the valuable info. We appreciate it.

[@WinTheHouseYouLove]

You're welcome, thanks for watching!

[@moneytalkswithjonathanthom4150]

Great video explaining correct expectations and adjustments that are needed

[@WinTheHouseYouLove]

Thank you for watching!!

[@javontedonuts1034]

Yea me and my wife did preapproval I was lucky with 640 she had 617 but they approved me for 95k

[@WinTheHouseYouLove]

Awesome!

[@javontedonuts1034]

@@WinTheHouseYouLove thank you we just put in a contract for a new construction mobile home with land for 82,900 thanks for your tips and advice

[@B-RY556]

I am looking to buy a home in the next couple of years! Thank you for all the information! 💯

[@WinTheHouseYouLove]

Best of luck! You're very welcome!

[@kristin5977]

It’s probably easier to follow Color My Credit on youtube or TikTok or buy the book to get your credit score up than trying to find a low credit lender.

[@WinTheHouseYouLove]

Great tip!

[@mandyanderson3488]

I love color my credit!!

[@Kan-dj7qd]

My names kyle too bro. And i realy appreciate your content. Buying my first home and have little to no knowledge.😖🙏

[@WinTheHouseYouLove]

Awesome! I'm glad to help!

[@sorinsoria]

Thanks for breaking this down for us! Love the video

[@WinTheHouseYouLove]

My pleasure!

[@denniscosban6145]

I got a killer credit score. So good I protect it with LifeLock. All scores.over 775. I pay myself a salary through ADP Payroll Services. If the lender calls I'm going to be the one picking up. How do I work out that problem? I have enough saved for conventional would that be better?

[@WinTheHouseYouLove]

If you're self-employed, the lender doesn't have to do a verbal verification of employment. They'll usually just need a current P&L from the business to show the business is still operating and generating revenue

[@denniscosban6145]

@@WinTheHouseYouLove yeah that's what they did on the last place that I bought I wasn't sure if they still did that in today's crazy world. Thank you very much

[@SheldonKreger]

3 to 6 months of reserves... That is going to make it much harder to save up for a down payment!

[@WinTheHouseYouLove]

Yes! 😕 I'd suggest waiting OR working with a lender like Carrington wholesale through a mortgage broker

[@SheldonKreger]

@@WinTheHouseYouLove Thanks! I have been running the numbers and we are about 8 to 12 months away from having the down payment. Seems like a good time to be saving up.

[@KevyJBeatzBangerzfromBelow]

Very accurate. 6 months of reserves! I'm going through that now. Closing 6/29. Oh its real! Great info here.

[@WinTheHouseYouLove]

It’s frustrating for sure, hang in there!! :)

[@tiara1082]

This was so helpful! Can you talk about how having a gap in employment (a few months) due to COVID may effect securing a home loan. How long do you need to be back at work to get qualified? And does it matter if it’s in a different field? Thank you!

[@WinTheHouseYouLove]

Thanks!! I definitely need to make a video on that soon :) Kyle Seagraves → winthehouseyoulove.com

[@Enarjay7891]

Hey Kyle, I want to begin the process of planning to buy and would love to work with you. My timeline is 1-2 years, with my wife breathing down my neck to get that closer to 1 lol. Would love to talk with you to begin the process and get your guidance!

[@WinTheHouseYouLove]

Sounds great! Hahah, no pressure 😉 I currently work in OH, TN, and FL. But if you're outside of those states, I can refer you if you fill out this quick form: www.winthehouseyoulove.com/referral

[@Enarjay7891]

Win The House You Love I’m in Cleveland lol

[@Enarjay7891]

Win The House You Love how can we begin the process? I created an account on your site but it wants all my personal info and I’d Iike to have a convo first

[@prncessbaby16]

Your voice is extremely soothing

[@WinTheHouseYouLove]

Haha thank you!

[@irisbarahona8392]

I currently submitted a calhfa loan on june 22th, my application is still pending. Thank you for the informative video.

[@WinTheHouseYouLove]

Awesome!! You're welcome!

[@SuperpowerCinematics]

This is really great info and explained very well, thank you! I have a scenario you may be able to answer. My fiance and I plan to sell our current home and build a new one. I am the primary income in the household with her income being much less. My credit score is 730 and hers is about 615. We need to both be on the mortgage this time in order to qualify for the amount we need. We will have a down payment of $40k on a $325k home. Do you see her credit situation causing a problem if we are both on the mortgage? Thank you in advance!

[@WinTheHouseYouLove]

Thanks, I'm glad it was helpful! Personally, I'd wait and see if you can raise her credit score to 640+. That will help you get a better interest rate and avoid the agressive lender requirements on sub 640 FICO loans.

[@francisheadley1]

Thank you for creating this type of content. Question, how do we find a mortgage broker or wholesale lender?

[@WinTheHouseYouLove]

You're welcome! findamortgagebroker.com/

[@Vicbenz]

Hi Kyle i got pre approved with Quicken Loan for a FHA loan with a 3.375% of interest, i saw the video about the cons of quicken loan. I need some advise because now im double thinking about do it with them.

[@WinTheHouseYouLove]

It's always worth it to get another quote from a mortgage broker and compare :)

[@privateprivate8366]

Thank you. I think the issue I have may be what others have though. It’s feeling frozen. Other than some small debts I’m about to pay off and some back taxes, I have at least 6 month’s emergency fund. I also have a “steady job”. But, as I almost didn’t survive the recession, I could never trust that again. I’m also in my mid-fifties. So, a person would say to forget about buying a home at this point. I actually hadn’t intended to buy a home as I was going to inherit one but, there ended up being attempts at abuse so, I’ve put that behind me. Still, I’d like to own a home and, although o once had a real estate license but, never sold any homes (wanted the 6 college credits). But, I feel as if I might actually need to buy a home because I doubt I will be able to continue to pay rent where I live, with rent increases. So, I’m thinking of buying a really inexpensive home that I could pay off quickly. Also, although I could not handle every repair, I am quite handy. So, it’s just a thought that I need to make some moves, lest I be stuck here, paying ever higher rent, to live amongst some pretty invasive, probably predatory neighbors. It’s a good neighborhood but, hey, the whole world is changing.

[@WinTheHouseYouLove]

Great! Buying a home is still a good gameplan no matter your age. As long as the numbers work for you, it can be a solid plan moving forward. Not to mention, you don't have to worry about a landlord anymore!

[@privateprivate8366]

Win The House You Love agreed! Thank you!

[@skyblue9991]

Does this go for other loan types as well? Loans like USDA, conventional or even VA loans? Are they all making significant changes? New sub here and just fyi, you're awesome!

[@momofmany9954]

Conventional yes!! We were approved for a conventional loan without issues Pre-Covid and were going to put 7-10 percent down. But the requirements changed in Mid May virtually over night and we were told now 20 percent is required, you need an additional 20k in "reserves" and you have to have a credit score of 700+ So we had to switch to FHA as we didn't have 20 percent down and our credit score was just under 700. Our Mortgage broker told us that unfortunately big banks like Chase are dealing with a huge fall out from this virus that they only want "perfect clients" as they aren't willing to take the risk.🤷🏼‍♀️ If we didn't need to move we wouldn't of. My husband and I have 4 kids in a 900sf 1 bathroom place. We need more space. We're cramped.

[@WinTheHouseYouLove]

Great question! Government loans are the most strict (FHA, USDA, and VA) and conventional is a bit less strict

[@momofmany9954]

@@WinTheHouseYouLove I would say FHA is less strict as credit score and down payment requirements were less.🤷🏼‍♀️ Just went through the process in May.

[@MrRexable]

I want to apply for an FHA loan but have no idea if I can even afford a home due to my income to debt ratio I'm making about 44k a year and have a 600 dlls monthly payment on a car plus 200 on cards with a 660 credit score 🤔

[@WinTheHouseYouLove]

Check out this video :) kzbin.info/www/bejne/g2PNqIR_eLZqbc0

[@claudiagal2446]

I love listening to you 😌

[@WinTheHouseYouLove]

Comments like this motivates me to create more videos. Thank you for your support. :)

[@andyfam5613]

BANK: sorry sir we can't give you a loan. Your credit is a joke. GOVERNMENT: 300 credit score. You got the loan. You just need a $300 down payment.

[@WinTheHouseYouLove]

Haha even the government won't touch a score below 500

[@andyfam5613]

@@WinTheHouseYouLove exaggerations lol but the government takes personal responsibility away from people a lot.

[@taydanni1289]

Hey Kyle, do you have a video posted about lending to someone who is a 1099 contractor for a company? My boyfriend was approved for a loan no problem (He is a W2 employee) but they won’t even entertain the idea of giving me a loan and I make good money and my credit score is above 700. I was told being 1099 makes it hard, if not impossible, to get a home loan. Love your videos!!

[@WinTheHouseYouLove]

I sure do! kzbin.info/www/bejne/ionHhoVshciGmpI 1099 income is definitely not impossible, just need a 2 year history.

[@tashallwelch435]

Thanks Kyle I really value your opinion!

[@WinTheHouseYouLove]

Happy to help!

[@ChonoSanchez]

THANKS DUDE. VERY HELPFUL...

[@WinTheHouseYouLove]

You're welcome!

[@josecastillo759]

Yes I did here in California

[@WinTheHouseYouLove]

Awesome!

[@juliaperez2082]

Thank you much for all of your videos, I'm currently bingeing. I was considering a home purchase however, I really want land. We've considered barndo and pole barn and even a self build....do you have any suggestions or warnings for buyers like me?

[@WinTheHouseYouLove]

Glad to help! Ooh, I'm not super familiar with those, but it sounds like fun!

[@tevinzappyj]

Earned a subscriber ❤️

[@WinTheHouseYouLove]

Thanks so much!

[@robertoaguilar5186]

Love this channel , the process is so weird and stressful , I got a mortgage pre-approval of 250,000 with a 609 credit score. I am married with no kids and make 72k a year with 48,000 in school loans , other than that everything is paid off so I don't know what to think lol

[@WinTheHouseYouLove]

Thanks! It is, I wish the process was so much easier and there wasn't even a need for videos like these!

[@robertoaguilar5186]

@@WinTheHouseYouLove by the way we made an offer on a house and it was accepted!!! Hoping we close on it!!!!!

[@jocktheglide]

good info as always Kyle....maybe a 4th strategy is have a high down payment say 10% to convince the underwriter your serious about a home?

[@WinTheHouseYouLove]

Thanks! Surprisingly, a higher down payment doesn't sway the underwriter's decision. But, a higher down payment might lower your debt-to-income ratio within qualifying limits.

[@kevinmichael4898]

Great information as always! Can you please refer me to someone in Oklahoma on getting an FHA loan?

[@WinTheHouseYouLove]

Thanks! Sure, fill out this referral form: www.winthehouseyoulove.com/referral

[@Emanuelethio]

I have been driving uber for the last 2 years. I have my 1099. I also have been working a w2 job for 6 months. Can I use these incomes to qualify for an FHA home? Thanks

[@WinTheHouseYouLove]

Most likely, the lender will only be able to use the 1099 income. Lenders normally need to see a history of you working 2 jobs at the same time before allowing you to qualify with both incomes. - Kyle Seagraves winthehouseyoulove.com

[@RBlanc-zl1hh]

Do you think this is a good time to buy a house or should you wait another year or two?

[@WinTheHouseYouLove]

As long as you have a sturdy plan (you know your numbers, you budget is solid, you have your timeline planned, etc) buying now is still a good option. Waiting is also good too if that's part of your plan :)

[@doneikawiggins3694]

I'm in the process trying to build my home. I already own my land that qualifies for USDA but not sure if my income is eligible so I wanted to know if I could qualify for FHA with a new build or construction loan to build my home in Georgia?

[@WinTheHouseYouLove]

Yep! You can get an FHA construction loan

[@adpnterprz]

Kyle can you speak on how to get an FHA streamline while in mortgage forbearance?

[@WinTheHouseYouLove]

Great topic, I'll add it to my list :)

[@karenmina2678]

My Problem is i have bad credit and i have collections but im so worry since houses are gettin wayyyy too expensive i live in California and is crazy how expensive it is to buy a descent house however my dad and my friend are willing to help my dad has good credit and good income my friend some good credit and good income is that going to help me ? Thanks for you video you have a such a nice voice! Smart and handskme!

[@WinTheHouseYouLove]

Homes in CA are ridiculously expensive. If you feel like a purchase isn't a good choice because of the cost, don't do it :)

[@Sammyalqattan]

with interest rates so low and a good percentage of income to debt ratio! i think these changes are fair.

[@WinTheHouseYouLove]

For sure! Especially with how uncertain the economy is

[@kathryngant837]

Thank you Kyle ☺

[@WinTheHouseYouLove]

You're welcome, thanks for watching!

[@imrankher4605]

Good information

[@WinTheHouseYouLove]

Thank you! for more information, don't forget to subscribe and hit the notification bell for more updates. ;)

[@grandpa6650]

What are the costs to consider when refinancing? 🙏👍👍👏🏻👏🏻👏🏻💥💥💥💥🇵🇷

[@WinTheHouseYouLove]

I'll work on a video for this :)

[@american5564]

Can you do a FHA vs Chase DreaMaker comparison? Thanks

[@WinTheHouseYouLove]

I'll add it to my list :)

[@naomithemarketer]

Hi I’m new to your channel... thanks for the great information! How does employment verification work if your self employed?

[@WinTheHouseYouLove]

You're welcome! Lender's will normally verify your business license and/or an online listing like on Yelp or your website

[@achavez78]

Kyle- do you offer one-on-one calls? Perhaps through a platform like Clarity FM or something else. Let me know. Thanks.

[@WinTheHouseYouLove]

You can schedule a free call with me at my website :)

[@scaleshenry]

How do we get in touch with you to get a broker and just other house buying needs?

[@WinTheHouseYouLove]

[e-mail]

[@SAN_E7]

Great tips!

[@WinTheHouseYouLove]

Thanks!

[@Bro_2286]

Thank you for the valuable information. I am new to US ,currently in Virginia since last 14 months. How many years of residency is needed for FHA?

[@WinTheHouseYouLove]

You just need to show 2 years history. You'll need to be a citizen or permanent resident

[@robertoalfajora1046]

Question: I am thinking of buying second home. Using FHA. What is the usual required down payment?

[@WinTheHouseYouLove]

FHA is only for primary residences, so you’ll need to use a conventional loan for a second home. Conventional requires 10% down for second homes.

[@taylorbug9]

You could not, and not contribute to the housing problem.

[@doziermuzic]

I wish I would have found you before I started my process. One thing I was hoping you would discuss in this video is the suspension of Dpa's. My lender is not offering dpa's at this time. I'm closing in less than a month. Can I still get a dpa loan outside my lender to help with closing costs? Your great thx.

[@WinTheHouseYouLove]

I've been planning on tackling this topic for a while! DPAs programs have to work directly with your lender. Usually, you can't get an assistance program outside of the lender.

[@doziermuzic]

@@WinTheHouseYouLove thx

[@NetflixButFree]

so if i have the money and reserves but no job,im not qualified due to the VVOE?

[@WinTheHouseYouLove]

You'll need employment to qualify for a loan. Or, a non-traditional income source like Social Security, Pension, Distributions, etc.

[@lamontscales2645]

Keep,em coming

[@WinTheHouseYouLove]

Will do!

[@KariFromYoutube]

Hey Kyle! I currently live in Cincinnati, OH. I’m looking to get a house by January of next year. I’d love to work with you!

[@WinTheHouseYouLove]

Sounds great! You're welcome to get started on my website when the time is ready :)

[@justincaldero5174]

Bro look up the gentleman kyle hendricks. That's you as a baseball player haha

[@WinTheHouseYouLove]

Haha! I see the resemblance

[@Lady.Katie.Swanson]

Awesome content!! Question- is being on unemployment going to effect your ability to get an FHA loan? (Even if you’re credit score is 730) thanks!

[@WinTheHouseYouLove]

Thanks! Yes! Lenders will want to see that you're employed, you can't get a mortgage if you're currently on unemployment.

[@Lady.Katie.Swanson]

@Dallas yes. This is a very legitimate question that I think a lot of people need to know who are seasonal workers such as teachers and construction workers. I’m a private school teacher, therefore on a 10 month salary so I collect unemployment for 2 months of the year.

[@WinTheHouseYouLove]

Katie Rappa Hey Katie! If you have a two year history of collecting unemployment, the lender can count it as income. Also, don’t worry about Dallas. Your question was valid! :)

[@tomboydee3326]

Can you do a video involving student loans i feel like its impossible to purchase a house with students but i heard if your on the idr program they can count it as 0 if your just paying 0 CAN YOU PLEASE CLARIFY THAT

[@WinTheHouseYouLove]

I have the perfect video for you: kzbin.info/www/bejne/fZbHhpKih7aMack

[@larocco83]

Good info however I wanted to know about people that now have a gap where they were furloughed due to covid but then get back to work or obtain work..how long do they have to wait starting a new job ? Didnt see that mentioned at all.

[@WinTheHouseYouLove]

You'll just need to be back on the job long enough to have a 2 week paystub

[@larocco83]

@@WinTheHouseYouLove okay good to know. So if I'm not asked back to the same place due to budget and I go to another job would that still be the case since I have over a two year work history.

[@itsamemikeg]

Great info

[@WinTheHouseYouLove]

Thanks!

[@riquellemitchell5467]

Would a broker make it easier to get an FHA loan with low reserves? Or do they generally all want at least 3 months mortgage saved up?

[@riquellemitchell5467]

With pretty good credit (700+)

[@WinTheHouseYouLove]

The type of lender you use won't impact needing reserves or not unless a specific lender has overlays. With a high credit score, FHA very rarely will want to see reserves. Also, look into a conventional loan, too! It might be more beneficial with your higher credit score!

[@ericanjohn09]

Any help for buying in SD? I also have some questions regarding untaxable income as well.

[@WinTheHouseYouLove]

Go ahead and fill out this form and I can connect you with a broker/realtor in SD: www.winthehouseyoulove.com/referral

[@mommyworld9302]

Kyle is it legal for lender to do overlays on top of FHA loans

[@WinTheHouseYouLove]

It is, most lenders have overlays of some kind, even in a normal market

[@TysShoeDesign]

@@WinTheHouseYouLove Hi, I saw a video where as a mortgage broker stated it was illegal to apply overlays on a FHA loan. I went to search for the video but the KZbinr removed it from his channel. So much misinformation floating around. Thank goodness for your channel. 🙏☺️

[@therealMelB]

We are trying to obtain a USDA const loan. My hubs was in a horrible car accident is ok n now but it screwed his FICO. Wr must begin building this year county standards. Does Carrington do USDA construction loans & what is their lowest FICO do you know? Thanks much you give us hope!

[@WinTheHouseYouLove]

Sorry to hear that! They don't do construction loans that I'm familiar with. They go down to a 500 score.

[@robertchilton8680]

Well every lender I talk to they said their minimum is 620

[@WinTheHouseYouLove]

Might take some searching to find one lending below that!

[@ritastevenson7380]

Thank you for your great advice on FHA tips and tricks. However, I may qualify for VHDA Plus second mortgage. Any hacks for this program?

[@WinTheHouseYouLove]

You're welcome, thanks for watching! I'm not too familiar with VHDA Plus. I'd talk with a local mortgage broker to get their advice/feedback on it :)

[@kimberlygriffin6136]

Wow I like your voice LoL 😂

[@WinTheHouseYouLove]

Thanks!

[@ronkeobaro1647]

Thx🙏

[@WinTheHouseYouLove]

You're welcome 😊

[@tshep9179]

Any thoughts on if/when FHA will return to normal? My wife and I are looking to buy in a year or so

[@WinTheHouseYouLove]

Most likely not until the pandemic is over

[@alwaysAWorld]

So, do they call your supervisor or do they call your HR department ?

[@WinTheHouseYouLove]

Either works! Just needs to be a publicly verified number

[@belleblue4935]

Hi Kyle, my husband and I are looking to buy a home and want to apply for an FHA Loan. My husband is a US citizen and I am in the country with a work permit. We live in AZ so we have community property, so we both have to apply for the loan. I don’t qualify for an FHA loan. Can it be possible for him to apply for the loan by himself? I will I appreciate any advice you have. Thank you.

[@WinTheHouseYouLove]

With community property, you don't have to be on the loan, but your debts will be counted in the loan if you're married.

[@shundrawilliams]

Do you have a whole sale lender in north florida?

[@WinTheHouseYouLove]

Yes. Text #apply to 937-358-6542 and I can connect you to one of our loan officers

[@UncannyisHere]

Have a question. So I’m working from home now. My job is paying me regular pay (30 hours) but also emergency pay to make up to the 40 hours a week. Since that is the amount of hours I normally work at the office. Will that affect me getting approved.

[@WinTheHouseYouLove]

I don't imagine it would, but the underwriter may need a letter of explanation from the payroll/HR department to understand what changed on the paystubs