What's The Typical Down Payment On A House?

[@tashas8287]

I swear this is my FAVORITE property channel! You’re soooo efficient and I love the delivery of information. Thank you so much for helping me with information that NO ONE ELSE IS PROVIDING! I literally sit in the library for hours studying your videos. Thank you so much for changing lives for the better with giving this knowledge. 💎💎💎

[@WinTheHouseYouLove]

Wow Molly thanks so much! I’m so glad this channel has been helpful! Are there any video topics I can cover that would continue to help?

[@tashas8287]

Wow thank you for responding!!! Omg. I’m actually planning on transitioning out of Social Service field to real estate. I want to be come a mortgage loan officer in NY. I was wondering if you had any tips to share as far as passing the exam. Are there any practice exams I can peruse? Thank you so much in advance !!

[@WinTheHouseYouLove]

@@tashas8287 That's awesome! I did 2 things to prepare and passed with ease: 1) This book from Amazon: www.amazon.com/gp/product/B00HGLLIA2/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1 2) This KZbin channel: kzbin.info/door/Gc_5jInsYA6uhr1WwErmpQvideos That lady's KZbin channel has tons of info and helpful tricks on passing the test like "TILA the godZilla to remember Regulation Z"

[@awesomeone465]

@@WinTheHouseYouLove what total amount end up pay in 30 years including the interest.

[@fallguy4209]

Your voice is so soothing. It’s crazy

[@WinTheHouseYouLove]

Haha! Thanks!

[@prncessbaby16]

Yea he could totally do meditation videos as well tbh

[@omaribrown7591]

He speaks likes his wife is sleeping in the next room. Whispery and smooth

[@Mimibz1232]

Literally the best and most knowledgeable on here. I've been binge watching ALL of your content beginning to end and then repeat again. 👍

[@WinTheHouseYouLove]

Awh that's so kind, thank you so much for watching!! I'm glad they've been helpful :) Kyle Seagraves → winthehouseyoulove.com

[@cristianmendoza6301]

Good to know I don’t have to do 20% down. I am out here saving like a mad man to one day try and buy a house

[@WinTheHouseYouLove]

For sure! Keep up the good work!

[@-TheMaskedMan-]

Hey how far are you with your savings. I’m trying to do the same thing

[@kbanghart]

@@-TheMaskedMan- how's it going so far?

[@-TheMaskedMan-]

@@kbanghart Not the greatest. Can’t believe its been a year since I posted this lol. But yeah, don’t have much saved and I’m going to have to start saving way more because of the housing problem we are in. I hope prices decrease but if they don’t due to supply then I’m going to have to save may a** off 😩😩

[@kbanghart]

@@-TheMaskedMan- yeah it's crazy how prices keep going up. If it helps, my wife and I were able to buy our current house for just 3% down, I was fortunate because I had a 401k account that I was able to take the money out of to cover that down payment. Of course, that makes the regular monthly payments higher, but at least then you have a home where the equity should increase.

[@dougburgan1]

I already know all of this I’m just listening because your voice lowers my blood pressure 😊

[@rashikhokhar9035]

He ends up whispering at the end of his sentence i listen to him to help me sleep. I guarantee he will do great in asmr

[@WinTheHouseYouLove]

Haha I might have to try it out

[@shannelbarrett-hawthorne7457]

Best channel ever. So informative and clear. Thank you for your valued information!!!!

[@WinTheHouseYouLove]

Wow, thank you!

[@kremekornz5491]

I would love to see a video addressing those who have student loans and what are some tips and tricks.

[@WinTheHouseYouLove]

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[@laurab4570]

Tom Hiddleston not only acts well but gives great house advice!!

[@WinTheHouseYouLove]

Haha thanks!

[@HardcoreGamer101508]

lol yeah he reminds me of Tom Hiddleston too.

[@MR-AK]

Good stuff br. Just fyi, as a investor who does it for a living, investors are required to put 20% down with exceptions to some banks and repeat business.

[@thebunnyfoofoo]

I like this scribble tablet. Makes things more fun!

[@WinTheHouseYouLove]

I'm glad you like it!

[@michaelyang9938]

Awesome VIDEO!! You are so knowledgeable and are helping so many people to ensure they understand that buying a house is an investment. My wife and I are looking for our first home and, you my friend, have taught us so many good things, 🙏.

[@WinTheHouseYouLove]

Thank you so so much for your kind comment! I'm very glad to help :)

[@juanokiller]

Man I have learned so much I can't wait to start the process, but like you said must ppl save in average of 6 months for their down payment and I just started to save. Hopefully everything works out.

[@WinTheHouseYouLove]

I'm so glad to hear!! Keep up the good work!

[@Platelunchexpress]

So…update?

[@juanokiller]

@@Platelunchexpress yeah I have about 35k saved, almost there, got a 3 pre approval ready to go..😁 but the market here in NY is kinda crazy right now.. too many offer above asking price..

[@Platelunchexpress]

@@juanokiller same here in Hawaii, I only have 13k saved down. But that’s more than enough there’s a few condos but I can’t rent them out on Airbnb and the ones I can rent out on Airbnb want about 36,000 down I’m going to stomach it for another six months stack up a little more and pull the trigger on a for sure thing my realtor says there will be a scale back in the market just have to wait it out there’s already a slight selloff here in Hawaii

[@kbanghart]

@@Platelunchexpress that definitely can seem daunting. My wife and I took some money out of our 401k to get our 3% down, which is of course not advised but in the long run it has paid off so far.

[@BitsToBytes92]

Thank you! This is awesome content... Could you do a video on a joint mortgage. My self and my brother want to halves on a two family home. I'd really like your take on the process and best route to take.

[@WinTheHouseYouLove]

Thanks so much! I'll add it to the list :)

[@SniperKingg14]

I wanted to purchase a 40k Nissan 370Z , but heard from my family that I can use 40k as a down payment on a home. I hope to one day become a home owner myself and am at the point and age in my life where I want materialistic things but I know being a “home owner” sounds better than a “car owner”

[@WinTheHouseYouLove]

That's a great choice. A car depreciates and a home doesn't. Best of luck!

[@elalemiami2118]

Sound is fire.

[@adryonna1]

This was perfect! I mean just perfect! Best on YT !! Question.... As for down payment there are programs to help with this right? If so, can we add $ to the down payment of whatever they provide?

[@WinTheHouseYouLove]

Thanks for watching! There are down payment assistance programs, yes :)

[@ladylove34]

Wow. We fit that to a T. We are first time buyers closing on a house on Thursday (many, many, MANY thanks to your videos and help in the comments!). We are putting 5% down which we saved up since January and have a conventional mortgage. Feels reassuring to know that’s pretty standard.

[@WinTheHouseYouLove]

That is awesome! Congratulations!

[@moeb7210]

What I’m confused about is who you pay the down payment to? The homeowner or the bank?

[@WinTheHouseYouLove]

You will write the check to the title company who will disburse the funds to the seller, bank, etc.

[@seriouslysarcastic8402]

Another great video. Thanks for the content!

[@WinTheHouseYouLove]

Thank you! Any video suggestions?

[@djvex6180]

Thank you so so much. I'm so glad I found your channel.

[@WinTheHouseYouLove]

Thanks for watching!

[@vickyvictoria3604]

Keep up the good work. I’m learning Thank you 🙏🏼

[@WinTheHouseYouLove]

Great to hear! Thanks for watching!

[@sandramathew4965]

Thank You for knowledge there ! I wanted to ask where can i get more assistance with down payment on home ? Kindly share the resources :)

[@briangonsalez2173]

Excellent video! All of your content is superb! Thank you!

[@WinTheHouseYouLove]

Thank you so much, Brian!! I'm glad you like it!

[@gogopic1435]

Best explanation ever. Great Video!

[@WinTheHouseYouLove]

Glad it was helpful!

[@MB-qf1wz]

Kyle I discovered your page today and after spending several hours appreciating all of the valuable advice that you offer through your content I’m a proud subscriber. I’m also trying out YNAB thanks to your recommendation. Simply put: Thanks for everything you do! @ 5:00 you suggested paying off credit card debt to free up money for more house opposed to using it as a down payment. Would you still suggest this with a closed credit card that I’m still making monthly payments on? Would these payments be considered in my DTI ratio when applying for a mortgage?

[@WinTheHouseYouLove]

Thanks for subscribing! Those will still be counted in your DTI ratio. It depends how big the monthly payment is. If it's hindering how much you can get approved for, then it might be worth looking at trying to get it paid off.

[@MB-qf1wz]

@@WinTheHouseYouLove Thanks Kyle!

[@abiruiz8123]

Let's say person A give 70000 for a home of 200000 and the mortgage is 950. Person B give 6000 for 200000 and mortgage is 1500, later send a payment to the principal of 70000. Which method is better? It's primary home.

[@WinTheHouseYouLove]

I’m confused by your question, but an amortization calculator may be able to help you out

[@abiruiz8123]

@@WinTheHouseYouLove what I want to know which is a better move, give the huge chunk of money at front as your down payment or give it after. I know the difference is the mortgage amount. But let's say it does not matter if the mortgage is 950 or 1500. What would you recommend? When it comes of paying the house faster.

[@SheeshMaster64]

USDA - not for areas where you'd go "wtf" if you saw a cow randomly

[@WinTheHouseYouLove]

Depends on the city size! Tons of cities around me qualify and there are no cows lol

[@dgillespie13]

great info, can't read any of the screen doodles

[@WinTheHouseYouLove]

Newer videos have typed text

[@c19commander44]

I was buying a buy for $136,000 with my down payment of $30,000 . yet the interest was being charge for $130,000 and not for the $100,000. how is that possible ? shouldnt the interest be only only of a $100,000 and not of $136,000-?

[@WinTheHouseYouLove]

If the purchase price is $136,000 and your down payment is $30,000, then your loan amount is $106,000. You will pay interest on $106,000. If you are seeing otherwise, make sure you talk to your lender to understand what's going on.

[@c19commander44]

@@WinTheHouseYouLove -Thanks for your answer, because that is exactly what the finance guy was doing when i tried to buy the house. i ask him why he is charging interest for the amount of $136,000 when my loans is only $106,000.

[@akila219]

is there any other benefits on a VA loan other than no downpayment necessary, no PMIs? what’s goin to happen if i put a 20% downpayment on a VA loan even if i don’t have to?

[@1okstop]

Is there any other reason why a loan officer would suggest to put the least amount down?- If you're planning to refinance in 2 yrs for a better rate.

[@WinTheHouseYouLove]

Not that I can think of

[@ecgodsmack86]

Good video man

[@WinTheHouseYouLove]

Glad you enjoyed

[@tiffytoo]

I have 10% down praying this is enough.

[@WinTheHouseYouLove]

That should be plenty

[@tokenjocin5387]

So, let say I have $200k+ for my property. What else will I be billed for to keep my property?

[@tokenjocin5387]

@@alexhein1738 Tysm

[@crb4059]

Just property taxes and insurance homeowners association dues if it’s in that type of area and just normal maintenance

[@Dividendsmattertoo]

Hi I’m your video you said you cannot take out a loan for your down payment does that include margin from a brokerage account. For example m1 finance charges 2% interest for any margin you use and you can take it out to use for big purchases too

[@urbaintchoubou9065]

I'm trying to buy a 180k house but my realtor is trying to get me a 170k loan and asking me to bring 10k cash. Is this a good idea?

[@WinTheHouseYouLove]

Hmm, only your loan officer should be talking with you about how much down you need.

[@user-gh8ke1sv2f]

Why would your realtor be asking you to put down an amount like that if your loan officer didn't mention it? Do realtors get some kind of kick back for having the buyers put down more? I'm seriously asking cause I'm in a very similar situation right now.

[@timmyoltool2825]

As a frist time property buyer and want to buy house property to live in n the house would be maybe worth 1 million how much is the down payment needed

[@WinTheHouseYouLove]

You'd be looking at jumbo loans. Jumbo loans usually have down payment requirements around 10 -20% down

[@timmyoltool2825]

@@WinTheHouseYouLove 10 percent minimum? Sounds excellent 🤔👍

[@AshlynnC]

You hit 1k subs!!! Wooohooo!!!

[@WinTheHouseYouLove]

Yes!! I am super excited!

[@JessicaChungMN]

Wow look at him now!!

[@stevenbillington6421]

What type of guitars you have hanging behind you??

[@WinTheHouseYouLove]

I have a Taylor 210e and a Little Martin

[@dlf4298]

Hey man, great video! I am a first buyer, will 5% downpayment work? Thanks!!

[@WinTheHouseYouLove]

Hi! You can check out: 1:01, it will show you the minimum down payment. Thanks for watching. :)

[@dlf4298]

@@WinTheHouseYouLove thank you!

[@torobands8730]

Hey i have a question how does the debt to income work i want a 30 year mortgage and the house is listed as 353,950 if i was to do 30 year it would be a little under 1000 but i make around 3k plus monthly got a car I’m leasing to own but its only 250 a month I could put a down payment but I’m wanting to avoid it i don’t know if its Considered rural but I think it is

[@WinTheHouseYouLove]

Hey! A 30 yr mortgage on a $353,950 home with 0% down is going to be close to $1,690/mo in principal and interest alone. Taxes, insurance, and mortgage insurance will be added on top of that. You'll want to talk with a solid mortgage broker who can help you with a good game plan. What state are you purchasing in?

[@keenheat3335]

if i can buy the home outright with cash, should i still finance to buy a home ? opportunity cost wise

[@WinTheHouseYouLove]

Ooh, that's a difficult one to answer! Mainly because that's a debate that could continue for ages online. There are a lot of people in both camps. Personally, I'd love to have a paid-off home.

[@rurycastillo428]

Good information it’s like finding gold🙌🏻 I have a couple of questions, if I have the 15% down payment for an investment property I have to live in it? Also how many loans I am able to do at the same time, or how long I have to wait to get an other one? Thank you Kyle.

[@WinTheHouseYouLove]

You don't have to live in investment properties. Fannie Mae lets you have up to 10 financed properties at the same time.

[@rurycastillo428]

Win The House You Love thank you

[@johnnymartinez6034]

Hey man great video. If i already have the land and want to make a new home. Could i use the value of the property as a down payment? If so how does it work? Is it the same as cash?

[@WinTheHouseYouLove]

It depends on the lender, but usually you can

[@wildroses4944]

I did not know less than 20% down was even an option.

[@WinTheHouseYouLove]

Yup! Thanks for watching!

[@Tr1Hard777]

I was expecting 25%+.

[@WinTheHouseYouLove]

Yup! Depending on the loan.😉

[@justadriell]

Can you use down payment assistance on a conventional loan? ... my employer offers down payment assistance. & the only loan i qualify for is conventional

[@WinTheHouseYouLove]

Yes you can! Here are the Fannie Mae guidelines on using employer assistance: www.fanniemae.com/content/guide/selling/b3/4.3/08.html

[@AsIs2884]

Question, if you have a job but also have money coming in from an LLC do they also consider that income? So that your debt to income ratio isn't a high percentage? And can you use those funds for a down payment?

[@WinTheHouseYouLove]

They'll consider that income if you've been receiving it for 2 years or more. Yes, you can use those funds for a down payment

[@mohammadk1502]

I saw House for $280. What do you think I put down 3% or 5% Thank you

[@WinTheHouseYouLove]

It depends on how much you have saved up. You'll save more in interest the more you put down.

[@nomicaengenharia2446]

Very clear and great content! How does it work when the down payment is for a construction loan? In some countries, the down payment is payed directly to the builder. How is that in USA, are the lenders that receive the down payment or the builders? thanks

[@WinTheHouseYouLove]

Thanks! It should be the lender that receives the down payment.

[@nomicaengenharia2446]

@@WinTheHouseYouLove, Thanks so much!

[@ismeisme6441]

Hi Kyle, Same as everyone’s comments here, “You are simply The Best!” Last year we made a purchase in FL, built by a national and big developer. They asked us to pay 20% in four installments in the first four months. Actually most buyers paid even more than we did, most pay all. It is a reputable developer.

[@kbanghart]

@@ismeisme6441 is it in the villages?

[@elvisgonzales6387]

What if i don't want a loan?

[@jones2277]

Would it make sense to tack on more money to the end of the loan to be able to pay for renovations or to pay out of cash reserves?

[@WinTheHouseYouLove]

I'm not sure how you would add money to the end of the loan. Loans don't allow you to do that

[@jones2277]

@@WinTheHouseYouLove Sorry, I probably wasn't clear. I've heard of this strategy being used for paying for closing costs where you negotiate down the cost of the home, but take out the full loan amount you qualify for so that you're able to pay the closing costs that way instead of paying cash. I was wondering if you could apply that same strategy for necessary repairs on the home.

[@username-kn3oh]

Does the entire down payment go towards the price of the home?

[@WinTheHouseYouLove]

Yes. For example, on a $100,000 home if you put $5,000 down your loan balance will be $95,000. Your down payment plus the lender’s loan will add up to the purchase price. Both of those funds are given to the seller via the title company.

[@DKKim4245]

Great video! I have a question. I'm living in expensive housing area. If I want to pay 3% down payment, what is the maximum loan limit if there is for FHA or conventional?

[@WinTheHouseYouLove]

Here are the 2 loan maximum maps: Conventional: www.fhfa.gov/DataTools/Tools/Pages/Conforming-Loan-Limits-Map.aspx FHA: entp.hud.gov/idapp/html/hicostlook.cfm

[@tejano2828]

I used a VA loan I was in such relieve when they told me 0 down...don't worry we are have already have it more than half paid off.

[@WinTheHouseYouLove]

Awesome!!

[@xavier_Ayy]

Great video! You need a pop filter tho

[@WinTheHouseYouLove]

Haha yes

[@joshmildar4779]

l am a kid but very helpfull

[@WinTheHouseYouLove]

Thank you so much for watching!! :)

[@nikolantoni8455]

Do you represent New York?

[@WinTheHouseYouLove]

I don't, but fill out this for and I can connect you: www.winthehouseyoulove.com/referral

[@will7285]

Even at 3.5% down with a fha loan a house costing $235,000 you need roughly $20,500 down to close on the home

[@WinTheHouseYouLove]

$8,225 would be the down payment. Closing costs will vary on your location

[@xinic5]

Do house buying finance ASMR 😅

[@WinTheHouseYouLove]

ASMR.. flipping thru lots of papers could be relaxing I-think 😂

[@amandacano7597]

5 percent per 100,000?

[@WinTheHouseYouLove]

Percent means per 100. You don't have to divide by 100k... it's built into how a percentage works.

[@veev327]

I didn't know Harry Potter knows about real estate

[@WinTheHouseYouLove]

Lol

[@ابوالرمزالرمز]

🙏🙏🙏🙏🙏👍👍👍👍👍👍👍🌹🌹🌹🌹🌹🌹🌹🌹 thx for the great information

[@WinTheHouseYouLove]

You're welcome :)

[@randomizationme]

What happens if I end paying Escrow with a different bank from what I provided during the loan application process? Will that affect anything? For example, during the loan application process, I provided 10k proof of funds from my ROTH IRA. However, when I paid Escrow, I instead used 10k from another bank account (Emergency Savings) that I didn't provide in the loan application process, will that be acceptable?

[@WinTheHouseYouLove]

Typically, the lender doesn't like that. Sometimes they let it slide, but usually there is a closing condition that requires the closer to make sure funds to close came from one of the accounts verified during the mortgage process. Best case scenario: nothing happens and they fund the loan Worst case scenario: they'll just ask for documentation for the savings account

[@Carmen9479]

ASMR voice

[@nonono3141]

Buying a home isn’t an investment. Investments are investments.

[@WinTheHouseYouLove]

Thanks for sharing your perspective

[@jesuslovesyou4634]

Thank you for this! 💛 Jesus (God’s Son) loves people and saves people from sin and death. Jesus invited us to share in his goodness, mercy, and freedom.

[@WinTheHouseYouLove]

Thanks for watching. :)

[@bigoddo]

You are kinda wasting your talent with that voice, look into ASMR because you would be amazing!

[@WinTheHouseYouLove]

LOL! Thanks for watching!