➡️ Are you ready to take the Real Estate Licensing Exam? 🧐 Click the link below which will open in Messenger - You will receive 100 FREE Practice Exam Questions - 10 New Practice Questions Everyday! m.me/TheRealEstateClassroom?ref=challenge Related Video: Types of Mortgages (Non FHA, VA Loans) ruclips.net/video/XsMwNyCpGU8/видео.html
Mission accomplished- I passed my NJ license exam on the first try today! I have been studying for the NJ exam for about 3 months (I’m currently licensed & transacting in NY). With a toddler and one on the way, your channel is the only reason I got any substantial studying in during the day. I have just been streaming your videos on repeat for weeks. THANK YOU!!!
Hi Kelly.... THANK YOU so much for your generous thanks. I truely appreciate it! I am glad our channel assisted you in your study routine. I wish you the best of luck and hope the NJ test went well! Thank you, Kelly!
@The Real Estate Classroom I just passed my Maryland Real Estate licensing exam yesterday. I've been watching your videos now for about a month now. Your videos helped contributed to me passing. Thank you so much and please keep up the good work. ^_^
Hey! Congratulations and welcome to the real estate industry! I appreciate the shout out too. I wish you nothing but the best in your new career. Also, I created a bookkeeping spreadsheet just for real estate agents. It's free. Drop me an email and I'll send it your way! paul@randallschool.com Best of luck!
I'm so grateful for your videos, you explain things is such a way that stays with me. Even though I am taking my classes locally, I can always come to your channel and get a clear understanding at my own pace especially because English is my second language, so Thank you.
The psi practice exam asked me go insures loans I said FHA and it said VA I was so mad I’m seeing a few questions on psi websites that contradict everything I’ve learned
I failed in my 2 try😭 1-55 2-63! So they had a questions about, after veteran passed away, the spouses can apply for VA loan? Basically they were asking for spouses benefit in VA Loan. By the way if you can add some info about it’d be great ! Tks
I'm curious about your statement that you can have the MIP dropped from a FHA loan once the LTV reaches 80%. My exam prep instructor told me that FHA loans always require MIP, regardless of the LTV ratio.
No, MIP is not required once the LTV reaches 75% to 80% (depending on the lender)... In fact, my son purchased a home a couple of years ago with FHA... because of large increases in appreciation in our area, he was able to have MIP dropped. :o)
@@TheRealEstateClassroom I researched this a bit more and there's an important cutoff date of 6/3/13 regarding what's allowed. There's probably not too many loans around that old since the rates were higher back then. After that date you can do it if the initial down payment was above 10%, but most people wouldn't be putting more than 10% down since they use FHA for little down payment and higher ratios... or if they did they would have refi'd since then.
These might be beginner questions but what exactly does guarantee the loan mean? The VA will pay 25% if you default on payment or VA pays it for you either way? #2 What does insured and uninsured loans mean exactly? Ive always been confused on that. TY.
Some loans like FHA require the borrower to have an insurance policy to portect the lender if the loan to value is more than 80%... the borrower may have to purchase a one-time up front policy, a monthly mortgage insurance policy, or both. VA is the only loan that guarantees the or protects the lender from borrower default. The borrower will usually pay whats known as a VA funding fee (one-time) then there are no additional payment. If the borrower defaults, the VA will indemnify the lender of any losses.
Actually you can. Although I definately didn't clarify for MIP... IF the the borrower puts a downpayment of 10% or more it can be removed after 11 years... The good thing is this won't be on the exam 😁 Thank you
I had questions on the test said: on VA loan, if VA Appraisal a home for 85.000 and listing price was 90.000, what buyer should do in this scenario? Give 5.000 as a down payment?or not able to purchase the house? It’s something like that, can you help me with this question because I think is gonna come for the next test, cus I failed
The approved lenders provide the loan. FHA insures that loan amount. FHA does not provide the loan itself. Fannie Mae and Freddie Mac buy those l ou and in the secondary market. Releasing funds back to the lenders that provide those loan in the primary market where the borrower and the lender come together. The cycle keeps repeating itself. By insuring those loans, FHA makes them marketable/sellable. In other words, we would've been in trouble if government didn't facilitate these loans to be made.
Dual agency occurs when the agent/broker represents both the buyer and the seller. Disclosure is an immediate MUST. Never accept a dual agency. It is bad news, someone is gonna lose.
@@TheRealEstateClassroom It actually starts from the beginning. The text is somewhat late to what you are saying. All other videos I watched didn't have that delayed texts. I am understanding what you are saying as I can fully understand what you are saying. Just thought I may point it out for others who read the texts while you are lecturing. Otherwise it's always excellent to hear your lectures.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
➡️ Are you ready to take the Real Estate Licensing Exam? 🧐 Click the link below which will open in Messenger - You will receive 100 FREE Practice Exam Questions - 10 New Practice Questions Everyday! m.me/TheRealEstateClassroom?ref=challenge
Related Video: Types of Mortgages (Non FHA, VA Loans) ruclips.net/video/XsMwNyCpGU8/видео.html
Mission accomplished- I passed my NJ license exam on the first try today! I have been studying for the NJ exam for about 3 months (I’m currently licensed & transacting in NY). With a toddler and one on the way, your channel is the only reason I got any substantial studying in during the day. I have just been streaming your videos on repeat for weeks. THANK YOU!!!
Hi Kelly.... THANK YOU so much for your generous thanks. I truely appreciate it! I am glad our channel assisted you in your study routine. I wish you the best of luck and hope the NJ test went well! Thank you, Kelly!
❤❤❤❤❤
@The Real Estate Classroom I just passed my Maryland Real Estate licensing exam yesterday. I've been watching your videos now for about a month now. Your videos helped contributed to me passing. Thank you so much and please keep up the good work. ^_^
Hey! Congratulations and welcome to the real estate industry! I appreciate the shout out too. I wish you nothing but the best in your new career. Also, I created a bookkeeping spreadsheet just for real estate agents. It's free. Drop me an email and I'll send it your way! paul@randallschool.com Best of luck!
@@TheRealEstateClassroom Really? Thank you! I will as soon as I'm officially with my broker. I'm still waiting on my license to process. ^_^
Congratulations!
@@stephaniedblendo1081 Thank you. Are you in the process for getting your license too? :)
I'm so grateful for your videos, you explain things is such a way that stays with me. Even though I am taking my classes locally, I can always come to your channel and get a clear understanding at my own pace especially because English is my second language, so Thank you.
Hi Magenta... thank you for your comments! I am glad the videos are helpful. Keep studying... :o)
You are very thorough in your teachings! Thank you!
You are very welcome
Informative and very professionally presented with Simplicity in mind for someone who's not familiar with real estate Doctrine and procedure.
Hi Ernest... gracias for the feedback!
I am in Papillion. I am studying to take my exam. Your videos are great. Thanks so much
Thank you, Tara.... Best of luck!
Your videos are great!!! They helped me a lot to pass my real estate exam here in Nevada!
Thank you so much!!!
That's awesome! AND... congratulations on passing your exam!
Came here to study for my PSI, left to jam out to Black Keys because the intro is pretty much I Got Mine 😂
Yep,... they rock! :o)
You’re the best . That’s all I wanted to say 👏
Thank you... I really appreciate you leaving such a nice comment. Best of luck with your studies! 😁
Man you’re Amazing ❤
Thank you
Like your videos, you make it real thank you and salute to the Sabbath influence riffs in the intro
Right on.... thanks for the comment!
so....nice and easy to understand. must see all video. ver helpful .thanks
Thank you!
I love the explanation thank you 🙏🏽
Thank you
This is so helpful!!!!
I'm so glad! Thanks for the comment
Very awesome channel!
Thank you very much!
The psi practice exam asked me go insures loans I said FHA and it said VA I was so mad I’m seeing a few questions on psi websites that contradict everything I’ve learned
I failed in my 2 try😭 1-55 2-63! So they had a questions about, after veteran passed away, the spouses can apply for VA loan? Basically they were asking for spouses benefit in VA Loan. By the way if you can add some info about it’d be great ! Tks
I will thank you for letting me know. Keep on studying... you got this!
I hope you pass soon. ❤❤I’m just starting out 😢do you pay each time you fail ?
Your class is awesome 🙌🙌🙌🙌
Thank you!
Thoughtful content!
gracias
I'm curious about your statement that you can have the MIP dropped from a FHA loan once the LTV reaches 80%. My exam prep instructor told me that FHA loans always require MIP, regardless of the LTV ratio.
No, MIP is not required once the LTV reaches 75% to 80% (depending on the lender)... In fact, my son purchased a home a couple of years ago with FHA... because of large increases in appreciation in our area, he was able to have MIP dropped. :o)
@@TheRealEstateClassroom I researched this a bit more and there's an important cutoff date of 6/3/13 regarding what's allowed. There's probably not too many loans around that old since the rates were higher back then. After that date you can do it if the initial down payment was above 10%, but most people wouldn't be putting more than 10% down since they use FHA for little down payment and higher ratios... or if they did they would have refi'd since then.
Exactly ! MIP will not be removed whatsoever till end of it's term! PMI in Conventional loan could be removed once LTV reaches 80% !
Great explanations
Glad it was helpful!
You're just SIMPLY THE BEST 🤗👌🏾!
Wow, thank you!
These might be beginner questions but what exactly does guarantee the loan mean? The VA will pay 25% if you default on payment or VA pays it for you either way?
#2 What does insured and uninsured loans mean exactly? Ive always been confused on that. TY.
Some loans like FHA require the borrower to have an insurance policy to portect the lender if the loan to value is more than 80%... the borrower may have to purchase a one-time up front policy, a monthly mortgage insurance policy, or both. VA is the only loan that guarantees the or protects the lender from borrower default. The borrower will usually pay whats known as a VA funding fee (one-time) then there are no additional payment. If the borrower defaults, the VA will indemnify the lender of any losses.
Just an observation. You cannot get rid of MIP unless you refinance and get rid of the FHA loan. You can get rid of PMI with an 80% loan.
Actually you can. Although I definately didn't clarify for MIP... IF the the borrower puts a downpayment of 10% or more it can be removed after 11 years... The good thing is this won't be on the exam 😁 Thank you
I had questions on the test said: on VA loan, if VA Appraisal a home for 85.000 and listing price was 90.000, what buyer should do in this scenario? Give 5.000 as a down payment?or not able to purchase the house? It’s something like that, can you help me with this question because I think is gonna come for the next test, cus I failed
i had a question that asked which loan had the lowest closing cost. I thought it would be va loans is that correct?
Hi Savanna... I would need the 4 choices to answer this question since often times the question wants the BEST answer of the 4 choices
@@TheRealEstateClassroom A. Va loans
B. FHA loans C. Conventional loans I can’t remember the last one but it was something I’ve never heard of before
What if seller wants only cash offers? Would you just accept cash offers or would you advise seller of any/all offers?
I wondering if you have a cash offer do you show someone asking only cash offers all cash offers or cash and other form of money related offers?
Hello, do you do One on One tutoring. I keep studying it's time to test and i need to know what I I don't know
Hello Blessed Gem... unfortunately I do not.... there is just not enough time in a day.
Thankyou
You're welcome
Thank you
You're welcome :o)
Love it
Thank you!
I have a question… If I get FHA loan how much will be my down payment to avoid MIP?
Except for Vetrans Affairs (VA) Loans, which require zero downpayment, 20% down is the threshold... Thank you, Myah
Difference between pmi and mip??
PMI is for conventional loans... MIP is for FHA loans
And i thought the mip is for the life of the loan and conventional loan is waived after 80%
I thought it was 3.5% down payment
Doesn't FHA insure the loan, not a loan itself? not a insured loan?
The approved lenders provide the loan. FHA insures that loan amount. FHA does not provide the loan itself. Fannie Mae and Freddie Mac buy those l ou and in the secondary market. Releasing funds back to the lenders that provide those loan in the primary market where the borrower and the lender come together. The cycle keeps repeating itself. By insuring those loans, FHA makes them marketable/sellable. In other words, we would've been in trouble if government didn't facilitate these loans to be made.
Dual agency occurs when the agent/broker represents both the buyer and the seller. Disclosure is an immediate MUST. Never accept a dual agency. It is bad news, someone is gonna lose.
Not sure if just me, but what you are saying does not match the text at the bottom of the screen.
Which part?
@@TheRealEstateClassroom It actually starts from the beginning. The text is somewhat late to what you are saying. All other videos I watched didn't have that delayed texts. I am understanding what you are saying as I can fully understand what you are saying. Just thought I may point it out for others who read the texts while you are lecturing. Otherwise it's always excellent to hear your lectures.
Where were you when I took my MLO license??? 🤣.
Lol... IDK how long ago did you take it :o)
YT algo comment : )
👍🏽👍🏽