⏩ This is how much can you afford with FHA and $50K Salary? - ruclips.net/video/3Vhqiwabva0/видео.html ⏩ This is how much can you afford with FHA and $100K Salary? - ruclips.net/video/McdocIRbQJI/видео.html ⏩ This is how much can you afford withConventional and $50K Salary? - ruclips.net/video/McdocIRbQJI/видео.html ✅ - Work Directly with My Team (Mortgage and Real Estate Nationwide) - www.jebsmith.net/referral
Are people just living paycheck to paycheck and not putting money away in savings and retirement? These number aren’t even factoring in heath or dental or eye insurance. Gotta love America
When we were looking at houses we qualified for 450k. I was like wtf are you smoking lol. Talk about being house poor and legit no food or gas money lol. I was like what is wrong with people. I really hated seeing the fake numbers. We live in a taxed world, not a gross income world. They really need to change this and give people what they can actually afford and live
Every person buying should have their own budget............It's not up to the lender to tell someone how much they can afford. Often times, people have income that doesn't report and they can afford more than what is on paper, that's why it's important for each person to know what they can afford.
@@JebSmithyou know a lot of people don’t budget lol. My sister makes more than me and my fiance combined rn so I said what we were approved for and bought at, she was like well I can afford a lot more and stuff. Then I told her that’s great but you’re gonna need a downpayment, taxes, fees, internet, electric bills… she doesn’t think about that stuff. She’s rented so that’s all lumped into 1 payment and thinks it’s easy. Then I told her she’ll have to cut her own grass… her response. “ I didn’t think about that” lmfao. Girls these days. lol
@@jmb9701 um congrats on living in a socialistic country? Idk what you want me to say lmfao. I’m tired of socialistic countries complaining about socialistic prices. 🤫😂
I make over $100k a year (gross), have a little over $50k to my name, own a 2020 Kia telluride (paid off), no debt, VA Loan eligible. I’m renting and pay $2,500 a month, and have about $700 recurring month payments for other bills, so about $3,200 worth of bills. How much home can I afford in So Cal?
6:226:23 My husband makes around 85k and we qualified for 550k our pre approval is great but I don't think we can afford a mortgage at that pre Qual price what's the best way to lower our mortgage if we do if we find a home at 550k? Im planning on putting on 3 percent down will i have to put more down to lower my mortage and my debt is around 7k
@@JebSmith ok I figured that but I'm not going to have much savings left it doesn't make me feel secure that we'd have enough for the mortage payment each month and I'm not even counting the other bills. At 550k they quoted me about a 4k a month mortgage payment it seems alot especially if the home is older
@susievidal4134 Your agent could ask the seller to lower their asking price. Depending on comps in the area and if the house is in good condition, it's unlikely to change much, if any. However, the better thing to do would be to find a cheaper home to live more comfortably. Just because you qualify. Grossing $100,000 is the new $50,000. We can't do as much as we think. It sucks, because some states are unlivable.
@@raygonzales197 thank you and I'm in one of those states California where it's not affordable and hard to buy a home and have an affordable house payment
Yes while making less in that area. Easy for you to say.. some people can't just pick up and move when they want to. Cost of living is relative to the area you're in. It'll be the same or almost the same debt to income ratio.
Sir, Your video quality is very good, but you are not Getting more views and subscribers. Because of these SEO problem. If you want I can fix this problem.
@@JebSmith where are you buying homes for 250K. Even 350K. The average home cost in the U.S. is not 400k plus. 90% of the US can not buy homes for 250-350k.. Not even enough homes available for the demand.. Even at those prices.... That is the reason that home values are where they are. Supply/Demand.
Where I live in west palm beach Florida, the average 3 bedroom home costs about a million dollars. Yes I could afford it, but I’m not paying that for a little bungalow . Not worth it at all. Thats why people aren’t buying homes, inflated prices ….even people that can easily afford the mortgage aren’t dumb enough to pay that for a shit home
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⏩ This is how much can you afford with FHA and $50K Salary? - ruclips.net/video/3Vhqiwabva0/видео.html
⏩ This is how much can you afford with FHA and $100K Salary? - ruclips.net/video/McdocIRbQJI/видео.html
⏩ This is how much can you afford withConventional and $50K Salary? - ruclips.net/video/McdocIRbQJI/видео.html
✅ - Work Directly with My Team (Mortgage and Real Estate Nationwide) - www.jebsmith.net/referral
Are people just living paycheck to paycheck and not putting money away in savings and retirement? These number aren’t even factoring in heath or dental or eye insurance. Gotta love America
Honestly, I think you’re right. Most people don’t have a budget and they buy as much house as they are qualified to purchase.
Thanks for the notification smashed the thumbs up I'm happy I own a house and it's paid off otherwise I don't believe I could afford a house now
Understood, a lot of people are in that same position
Thank you for this video. Would you be able to do one with VA loan?
I did it ruclips.net/video/7O66D6LWcxU/видео.html
Hello Jeb. I learned a lot and thank you for sharing your knowledge.
Glad it was helpful!
We're looking at buying soon, 20% down. But with these rates, everything is just so damn expensive, no matter which way you go
Really helpful breakdown for first-time home buyers!
Glad it was helpful!
When we were looking at houses we qualified for 450k. I was like wtf are you smoking lol. Talk about being house poor and legit no food or gas money lol. I was like what is wrong with people. I really hated seeing the fake numbers. We live in a taxed world, not a gross income world. They really need to change this and give people what they can actually afford and live
Every person buying should have their own budget............It's not up to the lender to tell someone how much they can afford. Often times, people have income that doesn't report and they can afford more than what is on paper, that's why it's important for each person to know what they can afford.
@@JebSmithyou know a lot of people don’t budget lol. My sister makes more than me and my fiance combined rn so I said what we were approved for and bought at, she was like well I can afford a lot more and stuff. Then I told her that’s great but you’re gonna need a downpayment, taxes, fees, internet, electric bills… she doesn’t think about that stuff. She’s rented so that’s all lumped into 1 payment and thinks it’s easy. Then I told her she’ll have to cut her own grass… her response. “ I didn’t think about that” lmfao. Girls these days. lol
I hate seeing people whining about 450k being expensive. My down payment was 450k on my 1.2 mil 2500 sq ft house in Canada
@@jmb9701 um congrats on living in a socialistic country? Idk what you want me to say lmfao. I’m tired of socialistic countries complaining about socialistic prices. 🤫😂
@@jmb9701 seriously the weirdest flex I’ve ever heard lol
This was extremely helpful! ❤
Glad it was helpful!
Great info, Jeb!
Thank you 🙏🏻
I believe you need to multiply by .45 not 4.5, correct? (9min 48sec mark)
That would be correct...........Thanks for the correction.
I make over $100k a year (gross), have a little over $50k to my name, own a 2020 Kia telluride (paid off), no debt, VA Loan eligible. I’m renting and pay $2,500 a month, and have about $700 recurring month payments for other bills, so about $3,200 worth of bills. How much home can I afford in So Cal?
3x your income for mortgage, 4x if you have very secure job and a frugal lifestyle
45% is pretty high. When I was in lending 36% was the max after that defaults went up
If you search online, it still says 26% when you can actually get closer to 50%
I will save way more. I make 125k but not ok with a very high payment.
What about a first time home buyer? Would you still qualify?
It all depends but in theory yes!
Hey boss what if I change from 1099 to w2 doing same job 5 years+
As long as you go from 1099 to W-2, then you should be good, going the other way is a problem
@@JebSmith Watch always your videos not time waste doing it thanks
6:22 6:23 My husband makes around 85k and we qualified for 550k our pre approval is great but I don't think we can afford a mortgage at that pre Qual price what's the best way to lower our mortgage if we do if we find a home at 550k? Im planning on putting on 3 percent down will i have to put more down to lower my mortage and my debt is around 7k
Unfortunately, the only way to lower the payment is either by getting a lower interest rate or by putting more money down
@@JebSmith ok I figured that but I'm not going to have much savings left it doesn't make me feel secure that we'd have enough for the mortage payment each month and I'm not even counting the other bills. At 550k they quoted me about a 4k a month mortgage payment it seems alot especially if the home is older
@susievidal4134 Your agent could ask the seller to lower their asking price. Depending on comps in the area and if the house is in good condition, it's unlikely to change much, if any.
However, the better thing to do would be to find a cheaper home to live more comfortably. Just because you qualify. Grossing $100,000 is the new $50,000. We can't do as much as we think. It sucks, because some states are unlivable.
@@raygonzales197 thank you and I'm in one of those states California where it's not affordable and hard to buy a home and have an affordable house payment
All about money
move to. a lower cost area
That’s 100% the best solution in my opinion unfortunately most won’t consider that
Yes while making less in that area. Easy for you to say.. some people can't just pick up and move when they want to. Cost of living is relative to the area you're in. It'll be the same or almost the same debt to income ratio.
Sir, Your video quality is very good, but you are not
Getting more views and subscribers. Because of these
SEO problem. If you want I can fix this problem.
I know people that make 75k a year and have 1 million dollar morgtage in canada 😢
that seems nuts...........how's that work?
@@JebSmith they have been filling homes with international students to help pay morgtage
Comical!!! Where are you buying homes for 250k 350k? Especially in California!!! This is not even remotely close to what the market is right now.
About 90% of the US you can by a home at those prices, no one said anything about CA.
@@JebSmith where are you buying homes for 250K. Even 350K. The average home cost in the U.S. is not 400k plus. 90% of the US can not buy homes for 250-350k.. Not even enough homes available for the demand.. Even at those prices.... That is the reason that home values are where they are. Supply/Demand.
Yes, plenty of homes at $350k in Texas and some are newly built, sorry for you guys in Cali 😂
Where I live in west palm beach Florida, the average 3 bedroom home costs about a million dollars.
Yes I could afford it, but I’m not paying that for a little bungalow . Not worth it at all.
Thats why people aren’t buying homes, inflated prices ….even people that can easily afford the mortgage aren’t dumb enough to pay that for a shit home