Shout out to the annoying piece of fuzz in my hair ✌️ As much as I’d like to be perfect, quick mistake to point out. In the DTI section, the actual calculation should be 1,982.75/mo for the front-end DTI. Sorry for the typo! NOTE: The default waiting period on CH 7 BK is 3 years; however, GUS can approve a shorter waiting time. USDA doesn't give any guidance on the specific circumstance that allow this, though.
We are looking into USDA . I have 1 question my husband signed for our daughters car because she had no credit, it is over 2 years and she has made all the payments would this stop us from qualifying for USDA loan?
@@ataylor3581 Hi, I'm a loan officer. It would show up on the credit report and "could" affect your Debt to Income ratio. Now you said she made all of the payments. The underwriter would look to see that the last 10 payments came out of here bank account. If she's making the payments and there's a paper trail to it then it shouldn't affect you.
@@yooo2568 I think if you're married and are both on the loan they have to pull both parties credit scores. You can purchase the house on only one spouse's credit but you won't be able to use their income I don't think, and if you live in a community property state you won't be able to do it using just 1 spouse. Research what your state will and won't allow good luck.
I want to say thank you for this video! I saw this video when it came out as I was house shopping. I realized it was perfect for me! I had already been approved for an FHA, bur since I was already looking outside of my city, this allowed me to be approved with 0% down. Since I had extra funds, it allowed me to reuse the funds I had to start my own business! I was able to buy exactly what I wanted with $0 down and even got my earnest money back because the seller agreed to pay 6% of closing costs! This video was perfectly timed for me and I am so greatful to you and your wealth of knowledge.
Just recently purchased a new construction home with a USDA loans. 2.875% interest rate. Paid 5k in good earnest money which we used to pay down interest points. Also, builder and their preferred lender contributed 2k each toward closing costs. I had to bring 1475 to closing. Although my home is in an USDA area, it is really close to city limits. I think that the lots of my end of the street are the only USDA eligible homes in my subdivision.
How are things going. My wife and I purchased some land and are looking to build. I was looking on the USDA page but didn't see anything on new builds. Do you have any suggestions?
@@Samestori214 Everything is fine! I did everything with an area builder and used their preferred lender. They pretty much took care of everything. I suggest finding a lender or agent who is well versed in USDA loans.
@@lakendrabrewer6615 adding on If you find a lender and agent in the area you’re looking to buy, chances are they are more familiar with usda loans than someone from the city. Best of luck!
Hey Kyle! I watched all of your videos a month or so back, went through the entire housing process and closed and finally moved into my new house this week. I was able to get a conventional at 2.93% with only 6% down! (PMI falls off 8 years) thanks to your guidance and useful videos! On top of that everyone involved was throughly impressed with the knowledge I had with every step of the home buying process, especially as a first time home buyer! Thank you for empowering me as a first time home buyer with the knowledge you shared in your videos and keep doing what you do!
This is such an incredible comment! First, I'm so glad you found a great home with such a fantastic loan. Second, your comment means so much for me. I feel so grateful for the impact that these videos have made. Thank you for sharing!
You have no idea how insightful and helpful you have been in my preparation of home buying. Thank you so much for your videos and being so informative!
My husband and I did this sixteen years ago, we also got help with a subsidy loan so that our payment was low enough that we could afford it. We still live here today. It was wonderful!
@@lindastanford3262 It's not really a loan, when we got the loan they offered help with our payment according to our income. For a while they were paying like 300.00 of my house payment. We have to prove income every year to keep getting it and the help goes up or down depending on what we bring in.
things to consider before getting usda loan: Credit Score: 640 or up 2 year employment (same employer) money for closing cost (depending on the price of the house) or if Seller agree to pay the closing cost. You need to live in your house for at least 10 years to qualify for no downpayment USDA properties are mostly in rural areas. USDA is for primary residence only
@@Humblethyself656 So what did you have to do? I would love to build a house instead of trying to remodel a house that is going to have issues. Did you have land to build on already? Are you in the low income bracket? What state/area are you in? I'm in North East Texas. Thanks
Love the homes you pulled for an example !!!! I’m looking for that in the 1/3 rd version !!! Lol but seriously.. I’m a single person... want to have less to maintain but the nice environment!!! Hope we all get what we have worked so hard for !
We got a USDA loan. No money down. Brand new home built and the builder closing. The thing is, we had to qualify when we picked our floor plan and upgrades then we had to qualify once again after the house was built.
I bought a home in September with a USDA loan. It was an overall good experience. I got a 0 down loan, 2.5% fixed rate 30 years, and dealing with the USDA was somewhat easy. I did have two issues: 1. the inspection report left out one key USDA requirement, so it had to be resubmitted, 2. the amount of homes being purchased caused a backlog that led to a two week delay in approval from USDA. Otherwise, things went pretty smoothly on the loan front. And my home is only about four miles outside the Austin city limits.
Wow that’s great Austin is up there in price!! I’ve been looking for a while but houses keep selling so quickly! I’ve been looking in cedar creek area about 20 mins from airport
@@Nereidabby yes, it was very stressful. I bought in Manor, and it was a tough fight getting a home. I did have to go over asking price by $10,000 and also agree to cover closing costs for myself. It's a sellers market right now. But I am in my home now and happy with it.
@@lakendracollier5099 Angel Oak Home Loans. The loan officer was a family friend who was initially just going to consult with us to see what our options were, but after seeing the low rate from USDA, suggested we buy instead of rent.
wow you covered all corners nicely. I am in the market for buying a house through USDA loan and you saved me ton of time with valuable information. Well done thank you sir.
@@WinTheHouseYouLove I just came across your video and you’re a perfect teacher for me! really soft Spoking, details and explain step-by-step! Help me understand a lot with especially English as my second language.. My daughter and I trying to get a home and it’s our first time buyer. So we work with a broken and we been Per approval, but if we don’t fine a house closing in 30 days then, we won’t be able to get the loan due to my income went down for 2020 tax return due to Pandemic and I’m a self employed and I’m the main in the loan. My daughter went to school for a nurse and she been working as a nurse about a year now. I asked my broker to use my daughter income as the main one for the loan if my loan don’t go through. He said, couldn’t use her as the main loan due to she hasn’t been in the same job for two years. On your video that it could work even though haven’t been in the same for 2 years? Sorry for long paragraph
My wife and I did the USDA Rural housing mortgage 5 years ago on our first home. It was a zero percent down loan but we put 15% down and it got us an even lower interest rate. At that time USDA rural housing loan had the second lowest interest rate next to a VA loan. USDA is a great mortgage product and I would suggest it to anybody who qualifies.
Totally agree. We also used USDA when we bought our home 14 years ago. We didn't put any money down and it was an extremely easy process once we finally found the right home.
curious question on the 15% you put down even with the USDA loan...... They didnt deny you (obviously) because you had money in the bank? I read somewhere that if you have money in your account, lets say $20,000, that they claim you have enough for the down payment and therefore do not approve. Is that true?
Thank you for producing this high quality content! I’m going to make a playlist for newer Realtors coming to work on our office. I have to ask, what mic are you using?? The audio quality is on point 🤌 🎙
Thank you so much for how you go about explaining, and making it more in layman terms for us to understand! Watch a lot of videos on youtube but just now attempting the idea of being prequalified for a new home build that is USDA approved and scared about it (or the unknown) and this is awesome!
This was super helpful! I took about 2.5 pages worth of notes. The market here in TX is so crazy that I doubt we will go this route but it's good to know it could be an option. I'm trying to educate myself so I can stifle the nerves about house hunting. We have been working on our credit for months now and I'm finally up to 760 from 500ish 😳(I was a stay at home mom for over a decade so it was just a matter of getting good credit) My husband is almost at 700. Hoping that makes a difference! Thank you for these videos! 🤗 You rock! And yes! Your voice was so calming! 😇
Love your videos man! Been preparing for couple months watching your videos. I am leaning towards Building a Home: Get a Loan to buy the Land, and Build the house (Trying for an Owner Builder In Maryland). It be awesome to see some content on a "Build to Permanent" loan.
Hey Kyle! Your channel is fantastic. It's chock full of great information. Would you consider educating us on USDA Direct and/or with SSDI Housing Authority ticket? I appreciate considering my request. Thanks!
Thank you for explaining what this type of loan is about. I really thought it was for farm land only (lol). After watching your channel, I now understand what type of loan this offers and how to apply for it. Your channel is very informative. I enjoyed it so much, I subscribed :)
Yes, when we see or hear USDA we think of agriculture...plants, and all those animal's in "Old MacDonald Had a Farm" nursery rhyme. 😂 Thanks for the support!
I bought my house for 57k zero down. Added a new roof and Mitsubishi electric heating and ac. Total cost was a 3000 check for new appliances… do it! Go thru the usda for a lender if your lower on the income scale.
This video was super informative! I’m a single mother of one, making 40K a year. I have 10K in savings and some money in my 401K. I’ve brought my credit up to a 615, I’m debating applying for a USDA loan.. but I’m still hesitant.
Thanks for this video. My wife and I are planning on buying a manufactured home on about 10 acres of land and then building our "forever home" on the land and keeping the existing home as a guest house. Would this situation qualify for a USDA loan?
Hmm, that's a tricky one. As far as the initial purchase, yes. Building on the land though would most likely require that you reach out to your lender and see if that's something they'd allow.
These numbers blow my mind. In my neighborhood in San Jose, CA the average monthly rent for a 3B/2B house is $3,000 to $4,500. Our very average rental 3B/2B house with a nice yard appraises for ~1.2 million dollars. A $2700 mortgage payment would be a dream. People are leaving CA and messing up housing markets in other parts of the country because they overbid. We can't buy right now but if we can get our debt to income down the USDA loan would be a great option for us. It's a catch 22 because it seems impossible with the ridiculous rents here. Any way thank you for this video it has been so helpful.
Kyle, you're a great teacher. Your channel has helped me have confidence that I can navigate the home buying process. Thank you! Wish me luck in finding a home and getting financing. My goal is to move into my new house in May or June 2021. For USDA, would I need to have an offer accepted in March to meet my goal to move in May?
I went with usda 0% down made homeowner pay closing I had a 1000$ in inspection and appraisal and I was in in 15 days been here for almost a month and I couldn’t be happier
Thank you very much. I found the home I'm really wanting on the usda website. This makes me so excited. My DTI is below 20% and credit is above 650. It should go smoothly
So difficult though I love the USDA program but now that houses have gone up so much and the median income that they use wouldn’t even allow me to buy any home here in Florida if I made that low🤷♀️
I have a question with a USDA loan if you want to have farm animals after like chickens Ducks geese kind of thing please let me know cuz I'm really considering getting some sort of loan in the next year or less
I have a 101k retirement plan & looking at a foreclosed fixer upper house to purchase got this whole army barracks layout with a loft bed edition to add but in mke wi still available for a year worth of funds thru my retirement account I've even started spending my red risk money with 11% tax so glad I found this channel cool video THANKS
Great information. I have always wanted to own my own home and did not know this. I am a single mom and your information just made it so possible for me to buy me and my girls a home. I wish you were a broker here in Orlando Florida. Thank you
Thank you for the information on the video. For someone with credit scores in the 700s and no current debt (just a credit card with 1% usage) is it possible to go higher than 29% front end debt to income ratio on a Usda 0 down loan?
I grew up in a USDA home. Nice little town (despite it's problems) and not very rural, it was still a town. The farms were at the fringes of the community and the nearest city's downtown was only 30 minutes away.
This was very informative! Thank you. I do a question though, so you find that monthly payments are higher for usda loans than other loans that do require a down-payment?
I only found out about this recently AWESOME!! I never thought I would be able to own a home. It is hard though finding a place you really like and either the bank says no or people with Alot more money get the home. I just found the home of my dreams and was soo excited told my realtor to send in the paper work this one is IT and then later she lets me know several other people want My house😯 and I have to wait 3 days for an answer this is so hard and all the others that "would do" are already under contract. So just be ready for the roller coaster ride. And good luck !
We are buying a USDA house. My husband didn’t ask seller to pay closing because he thought USDA covered that so we will have to pay about 6,000 for closing. We have also paid for appraisal, termite inspection, land survey. Our loan officer said he might be able to ask USDA if they can add closing in which I hope they can. We really don’t want to spend it if we don’t have to. A positive note is that our house appraised for more then we are buying for.
Wow! I hope they can add closing. 🙏 It's nice also that you did not skip appraisal, the avoids future maintenance problems. Thanks for watching and congratulations! Best of luck!
I wish the process went as smooth for me. I've been dealing with them for a year with no word back from the lender yet . I'm going to try other options.
@@WinTheHouseYouLove awesome. It is much appreciated. Especially since I'll be aiming towards a USDA Direct Loan. On a side note, what financial institution do you recommend for USDA direct loans?
Square footage requirement: Didn’t see that in your video. I’ve been told that USDA has a limit of 2000 sq ft. In other words, they won’t finance any home larger than this. Is that correct?
Shout out to the annoying piece of fuzz in my hair ✌️
As much as I’d like to be perfect, quick mistake to point out. In the DTI section, the actual calculation should be 1,982.75/mo for the front-end DTI. Sorry for the typo!
NOTE: The default waiting period on CH 7 BK is 3 years; however, GUS can approve a shorter waiting time. USDA doesn't give any guidance on the specific circumstance that allow this, though.
I have the right zip, looking to do a build any good brokers in nc?
We are looking into USDA . I have 1 question my husband signed for our daughters car because she had no credit, it is over 2 years and she has made all the payments would this stop us from qualifying for USDA loan?
@@ataylor3581 Hi, I'm a loan officer. It would show up on the credit report and "could" affect your Debt to Income ratio. Now you said she made all of the payments. The underwriter would look to see that the last 10 payments came out of here bank account. If she's making the payments and there's a paper trail to it then it shouldn't affect you.
This for low income
I live in South Carolina and it's nothing like that
My husband and I got approved for a usda loan and we’re able to move in with $0 down! We’re so excited!!
That is awesome!
Can you help point me where to go
Amazing
Did you pull from both credit? My wife has a higher credit score then I do. Should we just pull from her credit then use both incomes?
@@yooo2568 I think if you're married and are both on the loan they have to pull both parties credit scores. You can purchase the house on only one spouse's credit but you won't be able to use their income I don't think, and if you live in a community property state you won't be able to do it using just 1 spouse. Research what your state will and won't allow good luck.
I want to say thank you for this video! I saw this video when it came out as I was house shopping. I realized it was perfect for me! I had already been approved for an FHA, bur since I was already looking outside of my city, this allowed me to be approved with 0% down. Since I had extra funds, it allowed me to reuse the funds I had to start my own business! I was able to buy exactly what I wanted with $0 down and even got my earnest money back because the seller agreed to pay 6% of closing costs! This video was perfectly timed for me and I am so greatful to you and your wealth of knowledge.
Thank you! Best of luck!
Congratulations 🎊
Just recently purchased a new construction home with a USDA loans. 2.875% interest rate. Paid 5k in good earnest money which we used to pay down interest points. Also, builder and their preferred lender contributed 2k each toward closing costs. I had to bring 1475 to closing. Although my home is in an USDA area, it is really close to city limits. I think that the lots of my end of the street are the only USDA eligible homes in my subdivision.
How are things going. My wife and I purchased some land and are looking to build. I was looking on the USDA page but didn't see anything on new builds. Do you have any suggestions?
@@Samestori214 Everything is fine! I did everything with an area builder and used their preferred lender. They pretty much took care of everything. I suggest finding a lender or agent who is well versed in USDA loans.
@@lakendrabrewer6615 adding on
If you find a lender and agent in the area you’re looking to buy, chances are they are more familiar with usda loans than someone from the city. Best of luck!
Hey Kyle! I watched all of your videos a month or so back, went through the entire housing process and closed and finally moved into my new house this week.
I was able to get a conventional at 2.93% with only 6% down! (PMI falls off 8 years) thanks to your guidance and useful videos!
On top of that everyone involved was throughly impressed with the knowledge I had with every step of the home buying process, especially as a first time home buyer!
Thank you for empowering me as a first time home buyer with the knowledge you shared in your videos and keep doing what you do!
This is such an incredible comment! First, I'm so glad you found a great home with such a fantastic loan.
Second, your comment means so much for me. I feel so grateful for the impact that these videos have made. Thank you for sharing!
I like the way you talk. Very calm, smooth, clear and informative.
Glad you think so!
@@WinTheHouseYouLove You can talk to me anytime. Lolbvs
You have no idea how insightful and helpful you have been in my preparation of home buying. Thank you so much for your videos and being so informative!
You are so welcome!
My husband and I did this sixteen years ago, we also got help with a subsidy loan so that our payment was low enough that we could afford it. We still live here today. It was wonderful!
Awesome!
What is a subsidy loan?
@@lindastanford3262 It's not really a loan, when we got the loan they offered help with our payment according to our income. For a while they were paying like 300.00 of my house payment. We have to prove income every year to keep getting it and the help goes up or down depending on what we bring in.
@@dawns.6620 , Thank you.
@dawn who is "they"?
I just watched your other usda video, this is right on time! I can use my 600$ pity check from the government towards closing cost. Lol.
Haha pity check made me giggle. It really is a worthless bill they pushed out 😒
LOL
True
Brittany...Yes I dying laughing😂😂😂😂😂😂😂😂😂😂😂😂😂
I did use my stimulus from last time $3400. Married with 2 children so it was very helpful to buy my frist home.
things to consider before getting usda loan:
Credit Score: 640 or up
2 year employment (same employer)
money for closing cost (depending on the price of the house) or if Seller agree to pay the closing cost.
You need to live in your house for at least 10 years to qualify for no downpayment
USDA properties are mostly in rural areas.
USDA is for primary residence only
Hands down! Thanks for watching!
My ears think this is ASMR! Your voice is so velvety 😅
Thank you so much for watching!! :)
Isn’t it?????
low key lol
Facts💯💯💯
🤣 same
Currently getting a new house built using USDA. Not an easy process but it’s definitely a blessing 🙏🏽
Amazing!
@@JoelKlemmer Movement mortgage is the brokerage I'm using.
Stick built or Modular? Could I pick your brain?
@@bbsvchic Sure. Its stick built
@@Humblethyself656 So what did you have to do? I would love to build a house instead of trying to remodel a house that is going to have issues. Did you have land to build on already? Are you in the low income bracket? What state/area are you in? I'm in North East Texas. Thanks
Love the homes you pulled for an example !!!! I’m looking for that in the 1/3 rd version !!! Lol but seriously.. I’m a single person... want to have less to maintain but the nice environment!!! Hope we all get what we have worked so hard for !
Thanks for watching!
Not me watching this whole video even though I already know all about USDA loans just because Kyle's voice is really nice
Hahah well I'm glad you're here!
This is how I purchased I’m so happy and thankful, USDA helped make my dreams come true!!
Nice! Thanks for watching!
I'm starting soon as a Loan Processor and these videos are helping so much! Thanks for the great content!
Awesome, glad to help!
We got a USDA loan. No money down. Brand new home built and the builder closing. The thing is, we had to qualify when we picked our floor plan and upgrades then we had to qualify once again after the house was built.
Awesome!
@Phil Anderson- About how long would you say the loan process took you?
@@adust5139 less than a couple of weeks
@Phil Anderson If you don't mind, can you please share which Bank did you use?
@@joseestela3920 I used a mortgage company called People's Mortgage.
I bought a home in September with a USDA loan. It was an overall good experience. I got a 0 down loan, 2.5% fixed rate 30 years, and dealing with the USDA was somewhat easy. I did have two issues: 1. the inspection report left out one key USDA requirement, so it had to be resubmitted, 2. the amount of homes being purchased caused a backlog that led to a two week delay in approval from USDA. Otherwise, things went pretty smoothly on the loan front. And my home is only about four miles outside the Austin city limits.
Thanks for sharing your experience!
Wow that’s great Austin is up there in price!! I’ve been looking for a while but houses keep selling so quickly! I’ve been looking in cedar creek area about 20 mins from airport
@@Nereidabby yes, it was very stressful. I bought in Manor, and it was a tough fight getting a home. I did have to go over asking price by $10,000 and also agree to cover closing costs for myself. It's a sellers market right now. But I am in my home now and happy with it.
What lender did you go with in Austin? I'm in the preapproval phase and the lender I tried clearly didn't know how to calculate for the USDA loan.
@@lakendracollier5099 Angel Oak Home Loans. The loan officer was a family friend who was initially just going to consult with us to see what our options were, but after seeing the low rate from USDA, suggested we buy instead of rent.
Wow this video is literally a free course. So much valuable information. Thank you so much
Glad it was helpful!
He is giving me all kinds of Clark Kent vibes!! 😍 Love the video and channel!! Thank for you amazing content 🙂
This was perfect 💯 I'm purchasing a home in the next few months. Thank you 🌹
You’re welcome 😊
Wow! It's been a while since I've watched such helpful and easy to understand video! So professional, clean, organized and informative. THANK YOU!!
wow you covered all corners nicely. I am in the market for buying a house through USDA loan and you saved me ton of time with valuable information. Well done thank you sir.
Glad it was helpful!
Thanks for creating this resource. It’s not easy to hear USDA programs explained like this.
Thank you so much for watching!! :)
You're a damn good creator. Keep going.
Thanks so much!!
@@WinTheHouseYouLove I just came across your video and you’re a perfect teacher for me! really soft Spoking, details and explain step-by-step! Help me understand a lot with especially English as my second language.. My daughter and I trying to get a home and it’s our first time buyer. So we work with a broken and we been Per approval, but if we don’t fine a house closing in 30 days then, we won’t be able to get the loan due to my income went down for 2020 tax return due to Pandemic and I’m a self employed and I’m the main in the loan. My daughter went to school for a nurse and she been working as a nurse about a year now. I asked my broker to use my daughter income as the main one for the loan if my loan don’t go through. He said, couldn’t use her as the main loan due to she hasn’t been in the same job for two years. On your video that it could work even though haven’t been in the same for 2 years? Sorry for long paragraph
My wife and I did the USDA Rural housing mortgage 5 years ago on our first home. It was a zero percent down loan but we put 15% down and it got us an even lower interest rate. At that time USDA rural housing loan had the second lowest interest rate next to a VA loan. USDA is a great mortgage product and I would suggest it to anybody who qualifies.
Thanks for sharing your story. :)
Totally agree. We also used USDA when we bought our home 14 years ago. We didn't put any money down and it was an extremely easy process once we finally found the right home.
curious question on the 15% you put down even with the USDA loan...... They didnt deny you (obviously) because you had money in the bank? I read somewhere that if you have money in your account, lets say $20,000, that they claim you have enough for the down payment and therefore do not approve. Is that true?
I just looked at the USDA map last week and am now watching this video. Serious deja vu @8:54 being from Springfield Ohio
Hahah that's awesome! I'm based in Dayton
Columbus, OH here. I'll be reaching out soon! Be well guys!
Cincinnati here, looking for my first home
Kyle- You are a Godsend. I just subscribed....so glad that I found your channel. Thank you!!!!
Thank you so much for watching!! :)
Man I love your channel. I haven't applied for any loans yet but I always thought home ownership is way out of my reach.
Thank you!
I love your voice and the way you
Accentuate certain words and sentences. Everything is so clear to understand
Thank you!
Thank you for producing this high quality content! I’m going to make a playlist for newer Realtors coming to work on our office. I have to ask, what mic are you using?? The audio quality is on point 🤌 🎙
Thank you for watching!
The mic is wayyyy overkill, it's a Neumann TLM 102
Thank you so much for how you go about explaining, and making it more in layman terms for us to understand! Watch a lot of videos on youtube but just now attempting the idea of being prequalified for a new home build that is USDA approved and scared about it (or the unknown) and this is awesome!
Thank you so much for watching!! :)
I bought my home with a USDA loan in January of last year the seller paid all the closing cost and the repairs
Can i buy another usda loan house if i have a usda loan already?
Congrats! You can only have one USDA loan at a time
@@SammySosa-cafepilon that's what i want to know too.
This channel is very detailed and organize. Finding information is quite simple. Thanks for sharing. I'm looking into this route.
Thank you so much for watching!! :)
Another great video! I use your explanation on USDA loans to my clients!
I love to hear that! Thank you!
don't sweat it Mate...you are awesome at explaining the whole process keep up the good work.
as a mortgage broker. I got to tell you. you are awesome! really clear, real information.
just awesome!
I appreciate that!
@Think Dude USDA focuses more on farmland and rural areas based on population.
This channel is absolutely amazing and I’m so grateful I clicked on you! 🙏🏽🙏🏽🙏🏽🙏🏽
Welcome aboard!
This was super helpful! I took about 2.5 pages worth of notes. The market here in TX is so crazy that I doubt we will go this route but it's good to know it could be an option. I'm trying to educate myself so I can stifle the nerves about house hunting. We have been working on our credit for months now and I'm finally up to 760 from 500ish 😳(I was a stay at home mom for over a decade so it was just a matter of getting good credit) My husband is almost at 700. Hoping that makes a difference! Thank you for these videos! 🤗 You rock! And yes! Your voice was so calming! 😇
That's good to hear, best of luck!
Thank you for the table of contents. This is so effective for me to save the video then keep coming back to rewatch a section.
Glad it was helpful! Happy watching & learning!
Love your videos man! Been preparing for couple months watching your videos. I am leaning towards Building a Home: Get a Loan to buy the Land, and Build the house (Trying for an Owner Builder In Maryland). It be awesome to see some content on a "Build to Permanent" loan.
Thanks so much! I'll add it to my video list :)
EXCELLENT VIDEO very informative I plan on applying for USDA DIRECT Loan this program sounds better than NACA's program 👍🏾 Thank You so Much ❤
Thank you so much for watching!! :)
This was very well put together and helpful, thank you!
Glad it was helpful!
I appreciate this video you’re doing some legwork on the Internet that realtors in my area will basically hang up on you for. Ty.
Glad you liked it! Thank you!
Excellent video, your breakdown & presentation made it extremely easy to follow & understand....Thank you Sir.
Glad it was helpful!
That’s how I bought my house last year 🙏🏼
Love it!
Thank you very much for this video. I'm in NC looking to purchase using a USDA loan and this video is very helpful.
Glad it was helpful!
@@WinTheHouseYouLove are you knowledgeable on the USDA One-Time Close Construction loan and if so what are the pros and cons of it?
I'm looking to buy a house soon. I listen to all of your videos religiously. Thanks for the info.
This video was very helpful. Thank you so much for being so detailed!!
Glad it was helpful!
Thank you so much for this video! We’re just entering this crazy market and have so many questions, you just answered most of them!
Thank you so much for watching!! :)
Hey Kyle! Your channel is fantastic. It's chock full of great information. Would you consider educating us on USDA Direct and/or with SSDI Housing Authority ticket? I appreciate considering my request. Thanks!
Thanks!
I'll add it to my list :)
Thank you for explaining what this type of loan is about. I really thought it was for farm land only (lol). After watching your channel, I now understand what type of loan this offers and how to apply for it. Your channel is very informative. I enjoyed it so much, I subscribed :)
Yes, when we see or hear USDA we think of agriculture...plants, and all those animal's in "Old MacDonald Had a Farm" nursery rhyme. 😂 Thanks for the support!
He is handsome with beautiful voice and his choice of glasses suit his face
Thank you so much for watching!! :)
This man's voice is so very calming great share sir thank you
So nice of you. Thank you for watching!
Very informative and substantive. Thank you for doing this. Really this is great!
Thanks for watching! I'm glad you enjoyed it!
I bought my house for 57k zero down. Added a new roof and Mitsubishi electric heating and ac. Total cost was a 3000 check for new appliances… do it! Go thru the usda for a lender if your lower on the income scale.
Hi! Thanks for watching!
This video was super informative! I’m a single mother of one, making 40K a year. I have 10K in savings and some money in my 401K. I’ve brought my credit up to a 615, I’m debating applying for a USDA loan.. but I’m still hesitant.
Yay, I'm so glad it was helpful for you! Keep up the good work!
You should work on getting your credit score up to 700+. The higher the score, the better interest rate you will get.
@@theonlyislandkiss where I can apply this program ? In the bank?
Wow your voice is wonderful for my anxiety.
Try watching my other videos...it's a good cure for anxiety. Kidding!😂
Great content and voice, it can replace my Rain rain app 🤣👍 subscribed!!
Awesome! Thank you!
Great Video, you also rocked it with Miles! Thank you for what you do.
Thanks for this video. My wife and I are planning on buying a manufactured home on about 10 acres of land and then building our "forever home" on the land and keeping the existing home as a guest house. Would this situation qualify for a USDA loan?
Hmm, that's a tricky one. As far as the initial purchase, yes. Building on the land though would most likely require that you reach out to your lender and see if that's something they'd allow.
These numbers blow my mind. In my neighborhood in San Jose, CA the average monthly rent for a 3B/2B house is $3,000 to $4,500. Our very average rental 3B/2B house with a nice yard appraises for ~1.2 million dollars. A $2700 mortgage payment would be a dream. People are leaving CA and messing up housing markets in other parts of the country because they overbid. We can't buy right now but if we can get our debt to income down the USDA loan would be a great option for us. It's a catch 22 because it seems impossible with the ridiculous rents here. Any way thank you for this video it has been so helpful.
Kyle, you're a great teacher. Your channel has helped me have confidence that I can navigate the home buying process. Thank you! Wish me luck in finding a home and getting financing. My goal is to move into my new house in May or June 2021. For USDA, would I need to have an offer accepted in March to meet my goal to move in May?
Thanks so much for watching!
Anywhere between March-April should put you in a home around May :)
Im looking on my options too around June July. This channel is so helpful
Hope you got that home!
Logann Marie- I did!!! Got a beautiful home that I love in the right location. Offer was accepted in February and I closed in April.
I went with usda 0% down made homeowner pay closing I had a 1000$ in inspection and appraisal and I was in in 15 days been here for almost a month and I couldn’t be happier
Wow! Good for you! Thanks for watching!
Thank you for such an detailed video! I needed all this information 🙏🏾
Thank you so much for watching!! :)
Thank you very much. I found the home I'm really wanting on the usda website. This makes me so excited. My DTI is below 20% and credit is above 650. It should go smoothly
Thank you so much for watching!! :)
So difficult though I love the USDA program but now that houses have gone up so much and the median income that they use wouldn’t even allow me to buy any home here in Florida if I made that low🤷♀️
It can be a tough box to fit in
I have a question with a USDA loan if you want to have farm animals after like chickens Ducks geese kind of thing please let me know cuz I'm really considering getting some sort of loan in the next year or less
Would love recommendations on lenders that use the manual underwriting system!
Right now, Carrington is one of the only ones doing it with COVID. HOWEVER, they are very very slow.
best video ever so simple so direct to point
Glad you think so!
Thank you for this information. I just this information to my mortgage guy. Praying we get approved.
You're welcome!! Best of luck!
I have a 101k retirement plan & looking at a foreclosed fixer upper house to purchase got this whole army barracks layout with a loft bed edition to add but in mke wi still available for a year worth of funds thru my retirement account I've even started spending my red risk money with 11% tax so glad I found this channel cool video THANKS
Great information. I have always wanted to own my own home and did not know this. I am a single mom and your information just made it so possible for me to buy me and my girls a home. I wish you were a broker here in Orlando Florida. Thank you
Thank you so much for watching!! :)
If you text #apply to 937-358-6542 I can connect you with a loan officer in FL
This was thorough and AMAZING.
Thanks for watching!
Thank you for the information on the video. For someone with credit scores in the 700s and no current debt (just a credit card with 1% usage) is it possible to go higher than 29% front end debt to income ratio on a Usda 0 down loan?
I covered this in the DTI section
I grew up in a USDA home. Nice little town (despite it's problems) and not very rural, it was still a town. The farms were at the fringes of the community and the nearest city's downtown was only 30 minutes away.
Awesome, thanks for sharing!
This would be great for me if I could find a qualifying home less than an hour from work. My Luck but thank you for all the useful information.
Thank you so much for watching!! :)
Can you tell me if you have to own your land before you can do a construction loan? Or can you find property and will they do a construction loan?
You can do both of the ways you asked about
This was very informative! Thank you. I do a question though, so you find that monthly payments are higher for usda loans than other loans that do require a down-payment?
Only slightly
You are the best teacher ever
Thank you!
USDA construction loan for 2021 information please.
I’ll see if I can add it to my ever growing video list
I’ve been looking into usda loan. Unfortunately I can’t find someone who is knowledgeable and can assist.
Question. If your student loan accounts are “closed” because you’re still in school, is that calculated in your DTI ratio?
They wouldn't be closed, they would be deferred
Depends if the loans are private or federal. Federal loans would be deferred but private loans can depend on the loan agreements you signed.
I only found out about this recently
AWESOME!!
I never thought I would be able to own a home. It is hard though finding a place you really like and either the bank says no or people with Alot more money get the home.
I just found the home of my dreams and was soo excited told my realtor to send in the paper work this one is IT and then later she lets me know several other people want My house😯 and I have to wait 3 days for an answer this is so hard and all the others that "would do" are already under contract. So just be ready for the roller coaster ride. And good luck !
Awesome, I'm glad to hear!
Really trying to save for the house! Taking notes
Thankyou
You are so welcome!
SAME BOAT! I SAW A LENDER THEY TOLD ME TO WAIT ANOTHER YEAR :( IM TRYING
We are buying a USDA house. My husband didn’t ask seller to pay closing because he thought USDA covered that so we will have to pay about 6,000 for closing. We have also paid for appraisal, termite inspection, land survey. Our loan officer said he might be able to ask USDA if they can add closing in which I hope they can. We really don’t want to spend it if we don’t have to. A positive note is that our house appraised for more then we are buying for.
Wow! I hope they can add closing. 🙏 It's nice also that you did not skip appraisal, the avoids future maintenance problems. Thanks for watching and congratulations! Best of luck!
If you work from home/freelance can you get a USDA loan since I'd be technically making money from home?
Yes.
Yep, that's perfectly ok
I wish the process went as smooth for me. I've been dealing with them for a year with no word back from the lender yet . I'm going to try other options.
Sorry to hear!
Should of got a realtor so you wouldn’t have had to deal directly with the lender by yourself
Can you make a video of USDA Direct Loans??
I'll add it to my list :)
@@WinTheHouseYouLove awesome. It is much appreciated. Especially since I'll be aiming towards a USDA Direct Loan. On a side note, what financial institution do you recommend for USDA direct loans?
Does USDA finance modular type homes. Thank you for all the awesome information.
Yes they do. Please ask your agent for more details. Thanks!
@@WinTheHouseYouLove thanks
Thank you so much 🙏. New subscriber here!! 😃
Thanks for watching! I'm glad you're here!
Extremely informative, you just gained another subscriber. Keep up the awesome videos.
Thank you very much!
wow, thank you for the information.
You're welcome, thanks for watching!
This was very informative! Thank you
Thank you so much for watching!! :)
Can you do video on Fannie Mae Home Ready loans
It's on my video list :)
Do you have a video with details for USDA new build loan?? I'm curious about doing that... thanks
EXCELLENT 💯🙏🏿🙌🏾🙌🏾
Thanks!
Thank you very much for all the great tips you have been providing!
Square footage requirement: Didn’t see that in your video. I’ve been told that USDA has a limit of 2000 sq ft. In other words, they won’t finance any home larger than this. Is that correct?
That’s only for USDA Direct
@@WinTheHouseYouLove Thanks for the quick response.
You had me at tipp city, I drive through there all the time, small world!
No way!