The TRUTH About FHA Loans | FHA Loans 2024 | FHA Loan Requirements

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[@norastocks5510]

I really hope folks are listening to you. Shop around. Because of you, we got a really good rate and some other things as well. Why???? We shopped around. I told my husband I was shopping about a month out from the close on our new build and he was nervous. I showed him your videos and reassured him you make a lot of financial sense. We shopped 3 different lenders and got a better rate. I never told the right hand what the left hand was doing and negotiated well. Thank you for your content.

[@ShaheedahHill]

Thank you so much Nora, I really appreciate you sharing that. Enjoy your new home!!!☺️

[@abs6383]

Where do you start looking for lenders? Are you going directly with brokers or banks? Any recommendations

[@norastocks5510]

@@abs6383 We choose a mortgage company first, then went to our own bank, followed by a bank known for mortgages. We never told one what the other said. We also got everything in writing. The other thing is we started considering other lenders after we were pre-approved for our loan and while we waited for the build but did not apply until around 45 days out from closing. Good luck

[@yesasye3947]

@@ShaheedahHill 😮

[@virginiaescalante2520]

I'm in the process of purchasing a home and mention to a couple of lenders about Ms Hill's videos and ask the right questions. But feel like they don't listen to me. I have a 760 c/s asked for a conventional loan but they only offer me FHA.

[@iomis2001]

I got an FHA loan along with the first time home buyers grant last year and my mortgage with insurance and taxes rolled into it is $711 a month. Far cheaper than rent in my area and with the money I save I am able to put some money away every check to put towards any home repairs I might need over time.

[@mady4443]

WOW! Where I live, the average mortgage is $1100. Thanks for sharing.

[@mamatosh05]

Wow! That’s super affordable. Congratulations on your new home.

[@denekabudget]

Niceeee 🤜🏼🤛🏼🥰

[@mady4443]

@@solo.life.travels7215 Michigan

[@MrElnegrito88]

Don't be afraid to tell what area are you so we can compare.

[@feecunn8845]

Thank you, I’m just starting the gathering of paperwork to get pre-approval to buy my first home at age 52. I love your videos and appreciate all of your content. I will definitely pay-it-forward. I will give an update on how it goes for me. Blessings and Love.

[@ShaheedahHill]

Thank you so much! Best of luck to you.

[@memyself4431]

Congratulations

[@Bippityboppityboop]

Im looking into buying my first home at age 52. ❤

[@oshynclair7592]

​@@BippityboppityboopI'm looking to buy home/condo at age 43 ...

[@rayshu3346]

The rules and restrictions are in place, but it's really up to your lending company if they want to follow them or not. My lending company only cared about if there is a home there, my whole septic tank was flooded, whole crawl space floods every time we have a mild rain, defects everywhere and we are not even allowed to go inside to inspect the home before sign the final closing. When they used their own inspector, the property passed with 0 defects. Now we are in court, so be careful, your lending company can work with the seller and ruin your life, all they care about is making money.

[@SavedTee]

Thank you for answering my question about different interest rates. I was just criticized by a lender for questioning their rates and another lenders rates. Now the first lender does not want to work with me because I asked how their rates differ. This is for conv. I was told I did not trust the lender. I think that is absurd to assume when I was just asking a question for knowledge sake. Thank you for always giving great information and knowledge.

[@ShaheedahHill]

Never let them intimidate you. They sit in sales trainings to know what to stay to buyers to stop them from shopping around. Thanks for knowing better and for watching.

[@ChrisG-hf5pd]

Stumbled upon your page and shocked at how genuine you are at informing viewers. May God bless you abundantly so you can keep growing and informing others. Not sure if you a realtor in GA but my wife and I would love to work with you in our home buying process this spring/fall. Keep shining !!!!

[@ShaheedahHill]

Thanks for stumbling☺️. I don't take many individual clients unless they are moving to specific areas but I have a small group of referral agents that cover the rest of Metro Atlanta. Welcome to the channel! Here is the link when you are ready for the referral - forms.gle/qC2uP4YRednyEyLa6

[@cjwright698]

Ive been researching and studying this topic for a little while now and your video is DEF one of the best. I am in the pre-buy learn stage. I'm taking notes - from just your one vid. You go!

[@ShaheedahHill]

Thanks for watching and welcome to the channel!

[@Sashologist]

One new subscriber here &I'm sharing these videos because this type of sincerity in content is what we need so I'm spreading the love lol 💕🏡

[@ShaheedahHill]

Welcome to the channel and thank you for watching.

[@biancalord488]

This is a great video topic. Thank you posting!

[@ShaheedahHill]

You are so welcome!

[@yolandacook4420]

Thank you for this helpful information. I had no idea that each lender has a different FHA rate. Im always learning from you. This home buying journey is real!

[@ShaheedahHill]

Thanks for watching!

[@ivyl4655]

Thank you so much for this clarification! Very helpful! God bless you

[@ShaheedahHill]

You are so welcome

[@lorraineg7223]

This was great info. I learned something for sure. Thank u

[@ShaheedahHill]

So glad, thanks for watching

[@KawfeeBean]

Thank you!! ❤ truly appreciate you sharing your knowledge ❤

[@ShaheedahHill]

Glad it was helpful!

[@tfptravel.food.peace.3788]

Thank you for this! I love this channel!

[@ShaheedahHill]

Thank you so much for the support!

[@rafjones]

You consistently drop sound knowledge. God bless you!

[@ShaheedahHill]

I appreciate that

[@JorgePerez-sg9di]

Thank you for helping people ❤

[@ShaheedahHill]

@JorgePerez-sg9di Thank you for watching

[@junemerritt1517]

Thank you for your valuable information concerning the financial situation all the way around. please keep us informed. Blessings to you.❤❤😊😊

[@ShaheedahHill]

Thanks for watching!

[@Docmotivate]

This was such a great message thank you for this content

[@ShaheedahHill]

You are so welcome

[@ritaandleo]

Omg thank you so much for your advice!!! It's kinda scared going through this journey alone!

[@ShaheedahHill]

You're so welcome! @ritaandleo Thanks for watching! Avoid Costly Mistakes by Buying My First Time Homebuyer Masterclass and Digital Confidently Closed Handbook - bit.ly/47s4pT7

[@Alessandro1983]

Thank you Shaheedah! Great info! This is why i like watching different creators because everyone is unique in how they explain the process. Im a new follower

[@ShaheedahHill]

Welcome to the channel! Thanks for watching.

[@trecyyyyy3691]

You are truly a blessing

[@ShaheedahHill]

Thank you😊

[@kayp9318]

Very helpful! I don’t know why I came across this video but so glad I did.

[@ShaheedahHill]

Happy you did as well. Thanks for watching

[@tinamenard5320]

Thank you,, very informative.. your a blessing with all your info

[@ShaheedahHill]

Thanks for watching!

[@reddrum9716]

Thank you for the helpful information

[@ShaheedahHill]

Thank you

[@tadan1111]

Thanks for posting

[@ShaheedahHill]

Thanks for watching!

[@monicap.harris1012]

Wonderful video!! This information was really helpful

[@ShaheedahHill]

Glad it was helpful!

[@user-mo9qj5wl1y]

Thank you so much u make it so easy to understand.😊

[@ShaheedahHill]

You're welcome 😊

[@dazeemae6211]

Most knowledgeable info I've ran across with excellent explt

[@ShaheedahHill]

Thanks so much!!!

[@nikkikibbe]

I learn so much from watching your videos! I am in the process of preparing to be a first time buyer. Thank you

[@ShaheedahHill]

Thanks for watching!

[@queensun6059]

👸whew! chiiiile u dropping gems 💎💎💎!!!👏👏👏

[@the.homehunter]

🔥 Love your video content!

[@ShaheedahHill]

Thanks

[@annettepennant5672]

Gm Shaheedah I really appreciate that information I was saying to my Daughter this Young I just like to her I do not listen to anyone but you Big Thanks.

[@ShaheedahHill]

You are so welcome

[@allykanyce]

I’m so glad you did this video. Just started home shopping and lenders made me feel like I was crazy for asking why it seems like their fha rates are different from other firms. Everyone kept giving me different purchase amounts that I qualified for! About to watch your video about how to pick a lender

[@ShaheedahHill]

You are not crazy...when their customers are not as knowledgeable it is much easier for them. Thanks for watching!

[@alexandremoreau1300]

@@ShaheedahHill hi Ms. Hill can we talk

[@mady4443]

@@ShaheedahHill Thank you for giving us the tools to advocate for ourselves. God bless!❤️

[@youngvick1987]

great video as always

[@ShaheedahHill]

I appreciate that, thanks for watching.

[@cozymelodiccorner]

Thanks very much for the information!🎉

[@ShaheedahHill]

Thanks for watching!

[@cozymelodiccorner]

@@ShaheedahHill You're welcome!

[@jenicepye2997]

Thank you for sharing such good information.

[@ShaheedahHill]

Glad it was helpful!

[@jewelsbaby2449]

Another great video🙌

[@ShaheedahHill]

Thank you 🙌

[@KBE-Life_]

Great content 👍🏽

[@ShaheedahHill]

Appreciate it!

[@amancalledjason]

You're the first person on KZbin that I ran across who has spoken on FHA loans that mentions the exception "If you pay 10% or more down on a FHA loan, the MIP stays on the account for only 11 years, not the life of the loan." That's my current situation, and in speaking with my mortgage company, I may can get that taken off sooner if I reach 20% of repayment before that 11 years is up. (I'm not sure if that's common). Anywho, thank you for your thorough education. SUBSCRIBED!

[@ShaheedahHill]

Thank you and welcome to the channel!

[@drehardin]

That was good game right there. I didn't know about the 10% either.

[@Mrzdavis11]

I did not know this and my lender didn’t tell me. I’m stuck for the life of the loan. I have a 3.5 rate. Not sure if it’s worth it to refi.

[@leond887]

@@Mrzdavis11 when the interest is lower you can refinance to remove the pmi dear

[@chelsbolin]

That’s awesome if they will drop it at 20% repayment. Just be aware that some of the loan officers may be inexperienced or just simply uninformed and will tell you wrong information. I’ve been through that multiple times. Typically, FHA mortgage insurance will not drop at 20%. I did the same as you tho and put down 10% so it eventually drops if I do not refinance sooner. My rate on a 4 unit property is 3.375%.

[@The_Dancelegz_Experience]

Although this video was created over a year ago, it is currently May 2024 and when I say this information has my mouth to the floor, thank you so much Shahida Hill for creating this video. It is so useful I rarely ever hear anybody break down FHA loans and the difference the differences like you have done here

[@ShaheedahHill]

Glad it was helpful!

[@LAND_Academics]

Thank you Shaheeda 🙌🏽🧡🌿

[@ShaheedahHill]

Thank you for watching!

[@indigobeauty1]

thank you so much lovely...keep the videos coming 🙌🏾

[@ShaheedahHill]

Thank you

[@treszriggins5772]

Spot on! I destroyed my credit when I was 26 back in 2010. I went from a 757 credit score to a 580. Took a lot of research, hard work, and time, but I now have a 828 FICO score. *Top phase resolution* is exactly what you need to do to hit a 800 credit score.

[@treszriggins5772]

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

[@treszriggins5772]

Those team are top Notch check them out

[@LibraLife47]

Thank you💖

[@ShaheedahHill]

Welcome 😊

[@Kukuak82]

Hi Shaheedah, can you talk about how to find a good lender in 2023? Questions we should ask and what to watch out for. Love your content! Thank you

[@ShaheedahHill]

In my mortgage options playlist there are 2 videos on Choosing the Best Lender

[@concealdontfeel0]

This lady is spot on. I'm a new subscriber love your channel

[@ShaheedahHill]

Thank you, and welcome to the channel

[@jennyhwang3260]

A friendly face with a teacher’s patience❤ I have learned a lot listening to your channel. One important thing that was not mentioned was the maximum Loan amount that FHA sets.

[@ShaheedahHill]

Good point, thanks for watching

[@mellie1022]

Ok. I see you out here dropping gems 💎. I went to 2 lenders but I don't know about them. I plan to do the hard pull at the end of February and I plan to shop around, wells, chase, credit union, usda, etc.

[@ShaheedahHill]

Thank you and best of luck!

[@sherine596]

thank you so much....

[@ShaheedahHill]

Thanks for watching!

[@Sincerely_Tiffany]

Wow! Great Information In this video and In the Comments. I am looking to Buy my First House And I am super Nervous lol Thank you for this Awesome Information!

[@ShaheedahHill]

Glad it was helpful!

[@candaceaku746]

Thank you so much! This is right on time! 🙏🏽❤️

[@ShaheedahHill]

You are so welcome

[@Visiontu]

Great video

[@ShaheedahHill]

Thanks for watching

[@irisavila6643]

thank you so much for this video! we went into a FHA loan because we didn't have the 20% down payment that was required in 2016 We purchased in San Pedro CA & PRECISELY what you say... we had to refinance in 2021 & the PMI was added again but not for the life of the loan... for 11 years.... so will be able to get rid of it 9 years from now.... which will save us a lot. We are trying like hard to pay some $$$ into the principal as we got a better interest rate 2.75% thank you again for your financial savvy advice !!😉

[@ShaheedahHill]

Thanks for sharing and you have a great rate!!

[@Karlizfranco]

Thank you for every honest advice you give not only to future buyers but also b people like me who want to get into RE and want to know more about this business. ❤

[@ShaheedahHill]

@Karlizfranco Thank you for watching

[@domrocc5363]

This is extremely prudent and important. While it may be functional for alot of people, the current inflation +FHA escrow requirements have put alot of new first time homebuyers into resale postions because they think the low down payment is where the advantage is in this loan structure. Rather, its a curveball you have to manage based on changing state by state minimum escrow requirements + the MI premium you will be locked into based on your down payment. I apprecaite you pointing this out rather than doing what many ithers are, which is, making videos about how accessible or cheap these fha structures may be with low to 0 down. The current market and inflation has turned many a first time home buyer during the pandemic into first time home sellers

[@ShaheedahHill]

Thanks for watching!

[@debbiesmith7723]

Thank you

[@ShaheedahHill]

You're welcome

[@ladylady8745]

Wonderful presentation

[@ShaheedahHill]

Thanks for watching!

[@siralee4975]

Thank you so much for sharing this great and much needed education and may God continue to Bless Y♡U❤️ 🙏 👏 ✝️

[@ShaheedahHill]

You are so welcome

[@germainesanders768]

Greetings. I LIKED and subscribed to you channel. I need to be educated a little bit more on the different types of loans, with their down payment. 😊

[@ShaheedahHill]

Awesome, thank you! Welcome to the channel

[@robinabuchanan4200]

Thanks for the great information

[@ShaheedahHill]

Thanks for watching!

[@treszriggins5772]

Spot on! I destroyed my credit when I was 26 back in 2010. I went from a 757 credit score to a 580. Took a lot of research, hard work, and time, but I now have a 828 FICO score. *Top phase resolution* is exactly what you need to do to hit a 800 credit score.

[@treszriggins5772]

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

[@treszriggins5772]

Those team are top Notch check them out

[@esan0715]

Great information, many think that a Loan is a "one size fits all" kind of deal. And aside from these 4 QM loans, three are many others Non-QM loans that may get someone into a property. DSCR, bank statement, etc. If you are in the market, either personal or investment, , ask questions

[@ShaheedahHill]

Thanks for watching!

[@TruLibras]

Thank you!! Very informative!

[@ShaheedahHill]

You are so welcome!

[@antoniovazquez1975]

Always enjoy yr information. Some of us are truly listening. Doe's FHA have down payment assistance. I'm in CT

[@ShaheedahHill]

Yes, and thank you for watching. This video has a link to programs in every state kzbin.info/www/bejne/hJirh2inoNuGiMk

[@superrando837]

I am on FHA and you are right on target 🙏

[@ShaheedahHill]

@superrando837 Thank you for watching

[@cuteusagi]

This has been so helpful. I git approved for an fha loan and down payment assistance. However, i also need concessions back. So its been tough...because there are not many people accepting FHA. Its frustrating 😢

[@ShaheedahHill]

Keep pushing, look for nice homes with bad pictures, those are hidden gems with less competition. Thank you for watching.

[@claraescalante9276]

This was so helpful! I was told an FHA loan was the best option but I have been looking into Conventional loans and I think thats going to be the best option for me

[@ShaheedahHill]

That is great, yes FHA is often pushed to first time buyers but there are other options. Thansk for watching.

[@Vub.]

Well problem with that is you need money down.

[@lexc4965]

There are also programs that help with money down as well. Research every avenue.

[@subprime2006]

Best option for who? 3-3.5% of the loan amount would be what the loan officer or mortgage broker earned in commission. FHA is the last/worst option if you really needed.

[@artSi1012]

@@subprime2006 would USDA be a better route or just a conventional?

[@joliejohnson1098]

I'm share thus and keep this one. 🥰

[@ShaheedahHill]

Thanks for sharing, I appreciate it!

[@paulstandaert5709]

20 years ago, I got a 2.5% down FHA loan. In light of the mortgage insurance being there for the life of the loan, I would DEFINITELY avoid them. There were many other stipulations that came to bite me in the hind end with the FHA loan, so even though they look good on the surface, they are trouble later on.

[@ShaheedahHill]

Thanks for watching!

[@PatronDove]

Could you explain?

[@paulstandaert5709]

@@PatronDove with a conventional loan, I could get an appraisal and if it appraised well enough, I could have eliminated the mortgage insurance. That was not the case with the FHA and now apparently it goes for the life of the loan. With a conventional loan, I could pay 22% of the balance in one lump sum and the mortgage insurance goes away early, but an early removal of mortgage insurance was not an option with the FHA loan. Sometimes the small town lender would just take your word for it. The FHA inspection cost more. Refinancing out of the FHA loan had some annoying hurdles. I would do my absolute best to avoid it if I did it again.

[@AleezyShark]

Do you have a video specifically discussing VA loans? Thanks for all your videos

[@ShaheedahHill]

Yes, here is my most recent one kzbin.infocCS34CQZwnQ?feature=share Thank you for your service

[@AleezyShark]

@@ShaheedahHill much appreciated by the way. We are currently under contract and your videos have provided us some great information during this “fun” and “not stressful” process 😅

[@ladyrob4110]

Can you make a video about Bank Statement Loans for Self Employed Individuals?

[@ShaheedahHill]

I will work on one....but this is a good one from my lender friend kzbin.info/www/bejne/laWTg6J7r81_p7M

[@bezzie7hegenius]

You should get Rhonda Burgess on the show. You two women have taught me a lot.

[@ShaheedahHill]

Thanks for the suggestion, she can always reach out [e-mail]. Thanks for watching.

[@draconian45]

Thanks for the explanation. Very helpful in making my decision. My score is 790 and I think I'll just go with conventional loan.

[@ShaheedahHill]

Thanks for watching!

[@johngeorgewashington1416]

I qualify for the VA w no funding fee and no PMI..I'm trying to look for a home ..but debating two family or single..

[@marta7089]

You have to pay mortgage insurance with all loan if a down payment less then 20 %

[@ShaheedahHill]

Thanks for watching!

[@seken2nun]

How common is it in the state of Georgia for Lenders to pay the real estate fees (3%) at closing ?? Is that written in the purchase agreement??

[@ShaheedahHill]

Not common .. closing costs are typically your responsibility unless you get a seller credit or down payment assistance. If the lender gives you a credit towards closing it is usually in exchange for a higher interest rate. Thanks for watching

[@Nunyya12345]

Hi Mrs Hill, I paid off a collections account but it is still on 2 of my credit reports . Can I send a goodwill deletion letter ? Also , if you have any videos on how to write the letter I’d appreciate that as well !

[@ShaheedahHill]

In the description of this video are links to how to write the letter, in the future do not pay off unless they agree in writing to remove from your credit report. Thanks for watching. kzbin.info/www/bejne/aoK4aJpsfrhqeLM

[@laladeylaya6738]

my friends daughter could not buy house with FHA in this market too many cash and conventional she never got one acceptance ..help her improve her score and went to conventional...just the times we live in..sellers ( some home owners some investors but all are greed AF) are greedy and have choices..so FHA not really gonna work today

[@ShaheedahHill]

In Georgia the market has shifted to be a little more balanced and they are accepting FHA offers more readily since fewer homes have multiple offers. Thanks for sharing and watching.

[@Back4WhatsMines]

🔥👍🏾

[@ShaheedahHill]

Thanks for watching!

[@laurenl.dennis]

Thanks, Shaheedah! Great info! I was told once that if you pay down your home by 20% or if your home reaches 20% in equity PMI goes away? Is that not the case? This is in relation to you saying the PMI stays for the life of the loan

[@ShaheedahHill]

That is not the case with FHA loans, that is the case with Conventional loans. Thanks for watching!

[@Bibleguy89-uu3nr]

You would have to refinance to conventional loan after you reach 20%, and hope that rates are lower at that time.

[@itzjdub282]

It was like that about 10 yrs ago

[@eugenesmith3611]

Good afternoon

[@ShaheedahHill]

Thanks for watching!

[@irene27206]

Thank you so much, as always. How do you choose the best lender?

[@rashondadani]

Your realtor usually can give you suggestions. If your in metro-Atlanta, I know a really good team

[@ShaheedahHill]

I have a video "how to choose a lender", there is a part 1 and part 2, those will be really helpful. They are in my Mortgage Options playlist. Thanks for watching

[@irene27206]

@RaShonda Danielle thank you. No, I am not in Georgia.

[@irene27206]

@Shaheedah Hill ok, will take a look at those videos

[@ladyace9724]

Hello, do you have a video on already a home buyer but ready to purchase another home. Because, things may have changed since I purchased my home in 2003. Thanks

[@ShaheedahHill]

I did this during the pandemic but it will be a good start - kzbin.info/www/bejne/q5apnIqhoKmDb5I

[@claudettealexander5204]

Mrs Hill, I was trying to see if I could access any available grant to help me out but my lender told me not to as that would increase the interest rate of the loan. What is your take on this? Thanks for your reply.

[@ShaheedahHill]

It really depends on the grant program, watch my Down Payment Assistant program playlist. I speak on this in some of those video. The rate may be higher with some programs so you have to weigh that against how much money they are giving you. Thanks for watching.

[@GerryBlevins]

I’m not sure if it applies to FHA loans too but mortgage insurance requirements can be met by simply taking out a life insurance policy for the value of the loan and designating the bank as a beneficiary. You’ll save money doing it that way.

[@ShaheedahHill]

Thanks for watching!

[@kfergus3662]

When I got my FHA loan my house was going to be inspected and she checked off the list from her car. I got screwed leaking roof, pipes

[@ShaheedahHill]

@kfergus3662 Thanks for watching and sharing - FHA appraisers do not do a thorough inspection, they are basically just there for the appraisal and to make sure the home appears inhabitable. You always get your own private inspection. There are no failures, only lessons. Thanks for sharing, it will help others.

[@marksyvette]

Do you have any info on the Bank of America loan? Pros and cons ? Would love to hear your take. Thank you! Love your channel

[@ShaheedahHill]

I have a few Bank of America grant videos. I also did a live about the program specifically for black and Hispanic communities. Thanks for warning

[@shannonhargis3445]

That’s discrimination someone should sue them and we wonder why racism exists

[@itzjdub282]

You can no longer have the PPI removed. That sucks

[@ShaheedahHill]

Thanks for watching!

[@MrElnegrito88]

The way you explain it make me reconsider....I have the VA I wanted to use FHA to purchase my first house and then purchase another one with the VA in a couple of years. I think I am going with the VA first. What is your recommendation?

[@ShaheedahHill]

I would do VA first, VA is no down payment and no mortgage insurance. You can build an investment portfolio with VA - watch this live, he explains it here - kzbin.infocCS34CQZwnQ?feature=share

[@keithclark8030]

Hey Shaheedah (love your name). I was wondering where I could find the FHA, USDA and VA Underwriters Guidlines? I'm looking to become a loan officer, although there is a lot of information with guidelines, I felt it is very important to learn as much as possible. Yes, I have been looking online, but not sure what is what.

[@ShaheedahHill]

Hey Keith, I would go to each of the government sites for USDA, VA and FHA for the guidelines. Then for Conventional look at Fannie and Freddie Mac for guidelines. Here is the link for USDA - eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do Best of luck on your new career! Reach out to mortgage lenders at your local bank and credit union they may be able to help you as well.

[@keithclark8030]

@@ShaheedahHill thank you, I will. Trying to figure out how to take my mortgage loan officer exam. I think I would like to get that done first. I appreciate you replying back.

[@jasonbailey3292]

Hello, I’m in a housing program that pays 10 down for home ownership. They told me that FHA doesn’t cover trailer park homes. How can you get a bank approval because I love those types of homes.

[@ShaheedahHill]

Mobile homes not permantly affixed to the land are not considered real property and will not work for most mortgages, so if you want to use the program you will need to look at more traditional housing options. Thanks for watching!

[@jhonbrito6343]

Can use down payment asisten with 3% conventional loan I’m in Connecticut.

[@ShaheedahHill]

Possibly, ask the lender to see if they have any DPA programs they work with to cover closing costs. If not you may need to find a seller willing to cover some of not all of your closing costs. Thanks for watching

[@ozcoleman5487]

Hello Shaheedah. Are there any programs available if you're not a first time home buyer?

[@ShaheedahHill]

For FHA you do not have to be a first time homebuyer. But in general, if you are trying to use a first time buyer program then most either want you to not own a home in the last 3 years or to not currently own a home, it really depends on the program.

[@johngeorgewashington1416]

I'm concerned about debt to income..and how important this is ..I may take out a personal loan to not spend my savings..but if it hurts my debt to income too much I may just use my savings..

[@ShaheedahHill]

DTI ratio is very important, I wouldn't take out a personal loan when you are trying to buy a home. Here is a video on VA loans and a video on calculating your DTI ratio kzbin.info/www/bejne/iWTKnXWrm5eZiNk VA - kzbin.infocCS34CQZwnQ?feature=share

[@fikrteghebrehiwet5066]

❤

[@khadijahdavis1572]

So if i used my land as a down-payment and my land appraised for way more than 10% is the PMI still for the life of the loan?

[@ShaheedahHill]

Good question, I would say yes, but please check with your lender. I am not sure how that works with construction loans if you used the land as a down payment. @khadijahdavis1572 Thank you for watching

[@prelovedbyjojo8384]

I got an FHA my minimum down payment is $8400 but at closing I need another $15k for loan fees and insurance, etc… outrageous

[@ShaheedahHill]

Wow, you should make sure you are shopping around. Those fees are high.

[@dieuvelthomas1223]

Hi I would like to know if I can get a pre-approval without a credit check

[@ShaheedahHill]

Most lenders will pull your credit, some will just do a soft credit pull - ask ahead of time. If you are worried about the impact to your score, watch this video - kzbin.infoJ_SlmyUcjvU?feature=share. There are also some lender that may manually underwrite you if you do not have a credit score, all you need to do is ask for manual underwriting. Thanks for watching.

[@sergestrada2]

Hi Shaheedah. I just purchased a condo and will need a copy of my warranty deed for a abatement that I qualified for. They are giving me 30 days to show them that. Is that more than enough time To get this done?

[@ShaheedahHill]

Depending on your city/state it may be, ask your closing attorney or title company how long it typically takes for you deed to be recorded. Thanks for watching!

[@user-hi9eh4jm2t]

How about getting the home reassessed to see if I have at least 20% in equity in the home in order to get rid of the P&I? Would you recommend that or would it lead to other problems?

[@ShaheedahHill]

You will the not be able to get rid of mortgage insurance for FHA loans even if you have 20% equity. This video explains - kzbin.info/www/bejne/g165n4uDrLmDg6s

[@user-hi9eh4jm2t]

@@ShaheedahHill Thank you for helping me all these yrs. From saving up for my down payment in 2019, buying a multifamily in 2021, and trying to get rid of my P&I today. 🙏🏾 have a nice weekend

[@juniorbeltran751]

Thank you for this information this my first time I’m going tu buy I was confused about fha n convencional I have a good credit score n I can pay 3% loan of 300.000 please answer my cuestión is a good opción to buy point interest to get lower monthly payments thank you so much .

[@ShaheedahHill]

It depends, here is my Points video - kzbin.info/www/bejne/l2O3YZRjZcytqdk Here is my rate buy down video - kzbin.info/www/bejne/opuwo6iYjsuNh9E

[@mamba00]

Crazy how more than half of the world is considered "rural" yet when you inquire somehow "there, here, etc is not a rural area" 🤷🤔

[@ShaheedahHill]

You can use the USDA map to see what is considered Rural, I have 3 USDA videos in my Mortgage Options Playlist - kzbin.info/aero/PL6YdU_zvybVli4gCUXphAIN6yv2Xu7_Zf

[@STXRZZ8226]

I’m Shahida john same name with different spelling .good to see

[@ShaheedahHill]

Hi Shahida! Cool....I'm sure you are amazing 😎