How can we contact you directly about what lenders are telling us we are approved for, versus the link in your bio that shows we could get approved for way more!!? Love all your info!
Hello! First And foremost thank you for all of the knowledge information you’ve given us thus far, my question to you is the home I’m purchasing is well below what I was approved for. The home is amazing and everything is fine except there’s no washer and dryer will the usda allow you to use the extra funds to purchase one?
💜💜💜💜 when I tell you I was lead to your Chanel for a reason. I almost gave up, but to see that you went through what I'm going through, you give me hope. Thank you so much I may share after my ordeal and help others. I'm trying to see if my journey ends in a happily ever after. Keep up the amazing job. Dont know if you did this or not can you do a video on why you chose to homeschool? And what's it like. Thanks in advance.
Thank you so much! I'm so glad they were helpful to you! You should totally share your journey..let me know when/if you do so I can follow along! :) I'm sure it will end in a happily ever after and I wish you all the best! Thanks for the video suggestion about homeschooling.. I will do that :)
Hi Jenny, thanks for these videos and congrats on your new home! 🎉 I wanted to ask, is there a certain amount of reserves required in your bank acct at closing? I know w/ the FHA loan, they require 3 mths of mortgage payments in your bank acct at closing. Thanks!
Loved your videos. Very informative. I had a question on being self employed. I have the feeling you have the same type of business that we do. What type of income verification did you need? Will they look at business bank statements and not tax returns which show deductions. Thanks so much.
Hi so we are USDA direct right now and we just did the inspection. Did you run into any electrical concerns with the appraisal? We are trying to figure our exactly what needs to be fixed?
Hi Jenny! Thank you SO MUCH for your videos! Incredibly helpful. Once you received your COE, was the interest rate provided the current USDA direct rate, or were you given an even lower rate from the start? At what point did you find out if you were eligible for a subsidy that reduces the interest rate?
Hi! So glad you found them helpful! We were given a lower amount from the start. When you get your COE, it will say your interest rate, subsidy amount, and how much your mortgage payment will be. BUT that amount will not include your monthly home owners insurance amount and property tax amount, so keep that in mind when looking for a home and finding insurance. The annual property tax is usually on the home listing (if you're using Zillow), so divide that by 12 and add to the house payment. Home owners insurance in my area is around $1,000-$1,500, so also divide that by 12 and add to the house payment. Then you will get a pretty close idea to what your total monthly house payment will be. :)
Jenny, I think I remember you saying you were in Indiana correct? I am wondering if you can recommend the realtor you used or if maybe I could get in touch with your realtor and see if they know anyone in my area who has experience helping people with this loan. I have my COE extension, I just have not been able to find someone who has experience with usda direct and my current realtor does not have much knowledge on this loan.
Hi! I adore you for doing this! Are you able to request the whole amount of the loan so you can get a mower/plow to be able to care for the property? (Hi Nilda 😊)
Love your channel, i have a question regarding employment. I worked at a company for 2 1/2 years, quit for another job. My job was very physical, couldn't do it anymore, started a new job 3 weeks ago. Will this be a problem for me? Thank you 😊
I'm not exactly sure on that one but I bet they will work with you and consider everything. We had a break in employment during covid and it didn't affect us. Good luck!
I know they make that sound confusing but they mean you can’t already own and decent and safe home. We actually owned a decent and safe mobile home and we were approved.
Hi, I have a question I received my coe and found a home that I like. What all is needed to make an offer on a home? My realtor is saying I need an AAR form, but then I asked my usda office and they said that the coe is like a AAR form prequalify sheet? Did you have to fill that form yourself? Any help please? Thank you!
No we didn’t have to fill out a form either. Your realtor just must not be familiar with direct loans. Your COE is your preapproval letter. I hope everything works out! Good luck!
I just want to thank you! You are the ONLY person I’ve found with good info on this type of loan. You are helping me get my first home!
I’m so glad it was helpful! I wish you the best of luck! You got this 👍🤗
How can we contact you directly about what lenders are telling us we are approved for, versus the link in your bio that shows we could get approved for way more!!? Love all your info!
Hello! First And foremost thank you for all of the knowledge information you’ve given us thus far, my question to you is the home I’m purchasing is well below what I was approved for. The home is amazing and everything is fine except there’s no washer and dryer will the usda allow you to use the extra funds to purchase one?
💜💜💜💜 when I tell you I was lead to your Chanel for a reason. I almost gave up, but to see that you went through what I'm going through, you give me hope. Thank you so much I may share after my ordeal and help others. I'm trying to see if my journey ends in a happily ever after. Keep up the amazing job. Dont know if you did this or not can you do a video on why you chose to homeschool? And what's it like. Thanks in advance.
Thank you so much! I'm so glad they were helpful to you! You should totally share your journey..let me know when/if you do so I can follow along! :) I'm sure it will end in a happily ever after and I wish you all the best! Thanks for the video suggestion about homeschooling.. I will do that :)
Hi Jenny, thanks for these videos and congrats on your new home! 🎉 I wanted to ask, is there a certain amount of reserves required in your bank acct at closing? I know w/ the FHA loan, they require 3 mths of mortgage payments in your bank acct at closing. Thanks!
Hi! No, they do not require you to have any money in the bank :)
Thanks for taking the time to put these vids together
Thank you for watching! Sorry for the late reply!
Thank you so much for this great informative video!
Glad it was helpful!
Loved your videos. Very informative. I had a question on being self employed. I have the feeling you have the same type of business that we do. What type of income verification did you need? Will they look at business bank statements and not tax returns which show deductions. Thanks so much.
Thank you! They look at both tax returns and bank statements. Best of luck to you! 😊
Hi so we are USDA direct right now and we just did the inspection. Did you run into any electrical concerns with the appraisal? We are trying to figure our exactly what needs to be fixed?
Hi Jenny! Thank you SO MUCH for your videos! Incredibly helpful.
Once you received your COE, was the interest rate provided the current USDA direct rate, or were you given an even lower rate from the start? At what point did you find out if you were eligible for a subsidy that reduces the interest rate?
Hi! So glad you found them helpful! We were given a lower amount from the start. When you get your COE, it will say your interest rate, subsidy amount, and how much your mortgage payment will be. BUT that amount will not include your monthly home owners insurance amount and property tax amount, so keep that in mind when looking for a home and finding insurance. The annual property tax is usually on the home listing (if you're using Zillow), so divide that by 12 and add to the house payment. Home owners insurance in my area is around $1,000-$1,500, so also divide that by 12 and add to the house payment. Then you will get a pretty close idea to what your total monthly house payment will be. :)
Jenny, I think I remember you saying you were in Indiana correct? I am wondering if you can recommend the realtor you used or if maybe I could get in touch with your realtor and see if they know anyone in my area who has experience helping people with this loan. I have my COE extension, I just have not been able to find someone who has experience with usda direct and my current realtor does not have much knowledge on this loan.
Hi! I adore you for doing this! Are you able to request the whole amount of the loan so you can get a mower/plow to be able to care for the property?
(Hi Nilda 😊)
Hi! Thank you! Unfortunately you can’t use the funds for lawn mowers. I wish though!
@@justjenny1255 thank you!
Love your channel, i have a question regarding employment. I worked at a company for 2 1/2 years, quit for another job. My job was very physical, couldn't do it anymore, started a new job 3 weeks ago. Will this be a problem for me? Thank you 😊
I'm not exactly sure on that one but I bet they will work with you and consider everything. We had a break in employment during covid and it didn't affect us. Good luck!
I qualify but I’m renting an apartment, do I have to be without housing or it doesn’t matter?
I know they make that sound confusing but they mean you can’t already own and decent and safe home. We actually owned a decent and safe mobile home and we were approved.
Wait, you got your money back that you paid for home owners insurance?
Yes, we got that back at closing.
Hi, I have a question I received my coe and found a home that I like. What all is needed to make an offer on a home? My realtor is saying I need an AAR form, but then I asked my usda office and they said that the coe is like a AAR form prequalify sheet? Did you have to fill that form yourself? Any help please? Thank you!
No we didn’t have to fill out a form either. Your realtor just must not be familiar with direct loans. Your COE is your preapproval letter. I hope everything works out! Good luck!
@@justjenny1255 thank you so much!
How much was your appraisal?
Sorry for the late reply. It appraised for about 19,000 more than what we were paying