Hello Tiffany! Sorry to hear about this and I hope you give home buying another shot. I agree with the previous poster, and don’t give up! Also consider Travis County. They have a higher income ceiling for offering buyers assistance. Take good care of yourself!
I am definitely not giving up - This a minor setback to major comeback for sure. I’m more knowledgeable now than I was before and the next time around, I’ll be ready.
Consider an FHA loan for a multi-unit (up to 4). You can live in one and rent out the other. Don't be put off by the higher prices, as banks will also factor in the rental income. To be on the safe side, you can buy one where your salary easily covers the mortgage (depending on what you make). If you did this 2 or 3 times, you wouldn't have to work anymore.
I dont think any of the people you were dealing with tried to help you, First there is no way that you qualify for downpayment assistance, you can verify this by going to the government sites. Second it is true that if you have down payment assistance nobody is going to want to deal with you, is not about the paperwork but the time it takes for you to receive the assistance, sellers and developers want their money asap. There is a shortage in housing so people with assistance are the least wanted. New development are not so a good a idea if you want to have a consistent payment, you know taxes and insurance can go up, and since is a new home they dont have actual prior tax payment so they just have an estimate, that can be waaay off, because they will try to make the number looks smaller so you feel comfortable with the monthly payment. The loan you want is conventional because I guess you have good credit, the min down payment is 3% so 350k is 10500 and you need to include closing fees and cost on top of that. Im from dallas too and i got a house in euless this summer, you should check that area:hurst, euless, arlington,bedford. Just find a realtor that you can be honest, my first realtor was incompetent im sure she wasn’t interested in me and my wife because we said clearly that we have a tight budget. Then my neighbors that recently bought a house gave me the info of their realtor and she was amazing(I can dm you her info if you want). The interest will keep going up because of the economy, so what the last person told you is true, and even just 1 % can mean couple of hundreds more on the mortgage. Recommendation just go live with your parents, save close to 15k or more. And buy a house whenever you see the interest rate dropping, you can get approve and lock the interest rate for 3 months(no matter if they go up). Also you can always rent a room( im renting one to my brother in law) to save some money.
We literally can't wait till the next video. House hunting is such an adventure & can be very rewarding & comforting at the end of it all. It's good to see the journey through the process. You also mentioned that your parents remodel homes. That's pretty cool. Do they have a RUclips channel, as well? Those are some of our favorite videos.
Thank you for sharing your experience! Despite all the BS you went through you were able to laugh about it afterwards, Definitely a Positive Mindset!!!😁
Hello Tiffany! Sorry to hear about this and I hope you give home buying another shot. I agree with the previous poster, and don’t give up! Also consider Travis County. They have a higher income ceiling for offering buyers assistance. Take good care of yourself!
I am definitely not giving up - This a minor setback to major comeback for sure. I’m more knowledgeable now than I was before and the next time around, I’ll be ready.
@@Tiffanyt899 Love it yes you will come back in a much stronger position.
Consider an FHA loan for a multi-unit (up to 4). You can live in one and rent out the other. Don't be put off by the higher prices, as banks will also factor in the rental income. To be on the safe side, you can buy one where your salary easily covers the mortgage (depending on what you make). If you did this 2 or 3 times, you wouldn't have to work anymore.
Thanks for the suggestion, I’ll think about it.
I dont think any of the people you were dealing with tried to help you, First there is no way that you qualify for downpayment assistance, you can verify this by going to the government sites. Second it is true that if you have down payment assistance nobody is going to want to deal with you, is not about the paperwork but the time it takes for you to receive the assistance, sellers and developers want their money asap. There is a shortage in housing so people with assistance are the least wanted. New development are not so a good a idea if you want to have a consistent payment, you know taxes and insurance can go up, and since is a new home they dont have actual prior tax payment so they just have an estimate, that can be waaay off, because they will try to make the number looks smaller so you feel comfortable with the monthly payment. The loan you want is conventional because I guess you have good credit, the min down payment is 3% so 350k is 10500 and you need to include closing fees and cost on top of that. Im from dallas too and i got a house in euless this summer, you should check that area:hurst, euless, arlington,bedford. Just find a realtor that you can be honest, my first realtor was incompetent im sure she wasn’t interested in me and my wife because we said clearly that we have a tight budget. Then my neighbors that recently bought a house gave me the info of their realtor and she was amazing(I can dm you her info if you want). The interest will keep going up because of the economy, so what the last person told you is true, and even just 1 % can mean couple of hundreds more on the mortgage. Recommendation just go live with your parents, save close to 15k or more. And buy a house whenever you see the interest rate dropping, you can get approve and lock the interest rate for 3 months(no matter if they go up). Also you can always rent a room( im renting one to my brother in law) to save some money.
you are so fun! and great story teller!
We literally can't wait till the next video. House hunting is such an adventure & can be very rewarding & comforting at the end of it all. It's good to see the journey through the process. You also mentioned that your parents remodel homes. That's pretty cool. Do they have a RUclips channel, as well? Those are some of our favorite videos.
Thanks for watching! Unfortunately, they do not have a channel.
If i had to guess, this video is about to blow up 😊
Recommended to me randomly. Seems interesting
Thank you for sharing your experience! Despite all the BS you went through you were able to laugh about it afterwards, Definitely a Positive Mindset!!!😁
This video is a lot helpful to me. A couple of lessons I learnt in there. So sorry you couldn't get the house. Don't give up.
So glad you found it helpful! For sure not giving it, just pivoting 😃
Great video! Lots of good financial advice. Good luck in your search!
Thank you!
I love your videos. What’s your IG handle?
@tiffalwaysfly