If he had stopped at the house and focused on their financial health for like five minutes they could have had kids at 25 and been legitimately financially secure.
Watching these should make you realize that shows like these cherry pick the worst of the worst when they screen to bring on guests. This is in no way indicative of the average person or even a common scenario, and the housing market is currently in the dumpster while most ordinary people may never be able to afford to own shelter because it is being treated like a speculative investment for huge corporations to hoard.
@@llamaryder1 You were a little unclear, is this kid the worst financially, or is he super lucky to have a house? The vast majority of single-family-home sales are still done to owner-occupiers. A minority of home sales, 22%, have a buyer who is an investor but most of those are done to individuals investors. Only 3% of rental properties are owned by institutional investors meaning that 97% of rental properties are owned by smaller local investors ranging from medium sized corporations with one or several apartments down to individual investors with one or two properties. You should look into what strong towns says about this. The focus on corporate home buyers is a red herring. Charitably its misplaced concern, at worst its used to distract from the real issues. Sadly the real issues are hard to solve; bad city planning, unequal property tax scheme, red tape for multi-family housing, etc.
Everyone is confused, Down Payment Assistance isn’t paid back it’s forgiven. How no one understands this is beyond me, you only pay it back if you sell your home before the time period is up. Literally not a single person in this freaking comment section of Caleb’s understands how the program works.
Caleb's what, 30 or early 30s? Hell I'm 27 and I look younger than the dude he's talking to. I also never wear sunscreen unless I'm swimming or boating. Just got the baby face genes.
Only putting $20 down means the interest rate is horrible. They’re going to be paying tens of thousands of dollars of more interest throughout the life of the loan. It’s always too good to be true.
No. They took out a loan to cover the down payment. So the interest on the home loan is normal. BUT they have an additional loan for the DP that is probably absurd.
I remember learning that at the end of your contract it actually says you’re real interested you paid after you pay it off and it comes out closer to 40% rather than 3, 5, or 7%.
@@faithbasedliving9391 a rule of thumb is home interest will double to 2/3 times the price of the house you bought it at. That’s why 10-15 year mortgages are better. A 15 year compared to 30 on a 300k house can save you about $200k in interest
@@faithbasedliving9391Yeah. Because it’s like 7% on the principal amount PER YEAR. so, if your loan is for several decades, you will pay the initial amount at least 2 or even more times over by the end, depending on your rate.
I think I love about Caleb is that he doesn’t talk to people in a mean or demeaning way, but he yells at them the same way I would at my best friend if he was telling me he made these financial decisions
Me and my wife bought a house. I’m 23, she’s 21. We moved in maybe when our first son was 6 months old. WORST MISTAKE OF MY LIFE. Our home inspector missed a water leak (which after we found it, it was 100% obvious this has been a problem for at the MINIMUM MONTHS) NOTHING but problems have arised out of this house. Not a single good thing. We LOVED it, when we saw it. And then we bought it. And now we’re stuck with it. It’s to the point where there is nothing else I want more than to be able to sell it. And then if we sell it, the amount we will have to pay in rent will be ATLEAST DOUBLE what our mortgage is. It’s such a fucking sick, and twisted system. Please anyone out there. DO NOT BUY A HOME UNLESS YOU ARE LEGITIMATELY READY (me and my wife were convinced we were btw so make sure you fucking REALLY think). We moved too fast, bit off more than we could chew, and now, WE’RE FUCKED. I’m very lucky that I have the type of family who will never let my kids be homeless. Not so many are as lucky. BE CAREFUL.
thank you for sharing you and your wife’s experience. i think all of us young people (even older than you) can learn from this. it’s awesome to own property but you must do it responsibly. appreciate your openness and best of luck to you and your young family ❤
Good luck man and God bless you guys 🙏🏽 you’ll make it through, but this is the type of wisdom that comes from experience ^ and kudos for trying to help someone from making a potential mistake.
You have no business having kids at that age if a few minor home repairs (yes a minor repair today is $5000) ruins your financials. Its just that simple. At that age you should be hustling your ass off for money and investing in crypto, stocks etc. I feel so bad for the next generation.
@@mrbeverlyhills834 lmfao. I don’t care if I went homeless today. I’d happily have another kid tomorrow. I too feel bad for todays generation. You’re all convinced material is life’s end game. I would rather struggle for 85 years financially, and have a happy healthy family, rather than be financially rich for my entire life with no one to share it with. That shit right there is the definition of depression. Men believe they need to go get the money before getting the girl. And now they’ve just assured the only woman they find is only in it for the money. I’m happy and secure to say, if I was homeless. My wife would be sitting on the park bench right next to me. Motivating and encouraging me. It is because of the blessings my family has brought me, that I do believe we will always figure it out. Because when you have kids there’s nothing you can do but exactly that. Figure it out. It’s hard. But we’re a million times happier than our single and childless friends in our age group. (No matter how much they want us to believe otherwise🤣 to me going out clubbing and doing an 8ball of coke every Friday night doesn’t seem like happiness to me) And btw people have kids when they’re broke and become successful later on all the fucking time🤣
Down Payment assistance is the newest gimick, so many young people are jumping into getting second liens, and are immediately negative equity judt to "own" a house. Its 2008 all over again, just a different set of clothes.
Down payment assistance has been around awhile. I used to be a realtor and at the time in 2016 there was a down payment one and it vanished if you stayed five years in the house. Now it’s different but they aren’t new lol
@@Everready_904 Thats the government bond loan. Its a great program, i paid maybe 1000$ in inspections ect. Bond covered the rest, it matures after X years cant remember exact and it goes away
@@Everready_904the program still is the same. And you say you were a realtor? DPA still is forgiven if you stay in the house long enough, only thing that you can’t do is have PMI waived unless you refinance the mortgage. I’ve literally bought one home and am way more informed than you are about the process
@@___________0Z0X Any dermatologist will tell you that sunscreen is to be used every day to prevent signs of aging. Wearing Nivea instead ain't gonna cover that base.
Quick story so I’m 35 and my house cost $350,000 in 2018 and it’s 2,300sqft Now it’s worth they say $700,000 and when my dad was 35 he got a house the same size on more land in the same city he paid $150,000 the next house was 5,000 sqft he paid $260,000 that house is now said to be worth $1.2 million. It was the standard to graduate either college or high school and get a house and a family and have the wife stay home and the husband to work. It didn’t matter if you were rich, middle class, or poor that was the standard for all the only difference was house size. Now the average starter home where I live cost the average of $450,000. I say it was the standard because it was affordable to all. Now you’re ridiculed if you attempt to buy a house and you don’t make $250,000 a year. Now they say rent your forever home and pay $6,500 a month to not even own it.
Property Managment Companies and Real Estate Investors have found a way to make Having A Place To Live into a subscription model... And they'll have us for life.
I appreciate the fact that you go all in, but then show moments of compassion, they really are so young, that’s ok, they’re learning young too. I hope they focus on each other and treat their marriage a little bit more like a business being accountable to each other as partners.
I did something similar to get my home, but different. It was called the Down Payment Plus Program, which is available for first time home buyers. Depending on how much of your down payment is, a percentage of your closing costs are covered. If you put down at least $5000 (at the time in 2021) and take an online home ownership, 100% of your closing costs would be covered. I elected to put down $7000 in order to close by December 31st. The result is a $640 mortgage at a fixed 4% interest rate for a $101k home.
That is dumb, I bought my first home with Down Payment Assistance, made 250k of tax free profit once I sold my home 2 years later. You have zero idea on how to leverage debt with that mindset of yours.
@@JamesCook76131 Congrats on taking advantage of a housing anomaly that will never occur in such a short time frame again in a very long time (if ever). There are many people who have little to no money saved that try to go the route of DPA, and realize that owning a home is more expensive than rent. This is why foreclosure/default rates are now increasing because they are over leveraging themselves.
@JamesCook76131 you just got lucky. Down payment assistance is very limited. And when there is the buyer is not interested or there's a catch to that assistance.
@@alextogo8367 luck is not what happened to me, i understand how to make money. I’m always looking to make more money. Half of these guests have zero idea what it’s like to have a mind set to wake up at 2:30am and start working until 9pm. Like I said luck had no bearing on my home buying experience, my attitude and my understanding of finance products allowed me to maximize my profits with very little investment on my end.
THANK YOU for choosing ceravue as the sunscreen for the edit. My daughter and i have sensitive skin on our face and if we use anything cheap/harsh we nreak out. Cerace make a great sunscreen for the face
I feel like the thing that most people focus on when buying a house is getting a house that suits them perfectly or having things in their house that makes them desire to buy it. I bought a house for $50,000 and I have had to fix everything in it so far but guess what I’ve done the majority of it myself and it’s taught me things nowadays, if you want the flashy shiny things you have to build it yourself unless you want to spend six figures on a amenities
ooh caleb dishing out all the good advice. yes, wear sunscreen everyday despite your melanin composition. it really does help, even if you only sunscreen your face daily, it decreases your risk of melanoma and some scarrings :)
Sometimes you can do it early. 🤣 My dad made me put half of all my highschool paychecks into the stock market (which he ran), when I was 19 I bought my first house because I had plenty for a down payment. On the third house now, still own the first as a rental. Got lucky, I reckon. 🤙
I did the same program. The housing fund to get into my first home and guess what sold it for a stupid amount, paid off all my debt, had enough left over to buy another investment and had money in the back. If you do things correctly, then it works out fine.
I bought a condo with my now wife after 6months with her. It was 141000, it was cheaper than renting an apartment. We lived there for 4 years had a kid and another on the way. Sold it for 210000 bought house after. Best decision of my life.
It's mind boggling to me that people this young think they should buy a house. My husband and I didn't buy a house until we were in our early 30's and we had 3 kids. This is bananas.
Don’t judge people by age, judge people by actions. I bought my house at 23 around 3 years ago and things have been fine. I got it on a VA loan so I did not put a down payment but I figured in the amount of time it’d take me to save up a down payment I would lose just as much money by waiting as biting the bullet now not putting a down payment. Just as I thought my house is estimated to be worth about $80k more than I financed it for now and that’s after 3 years.
You can get whats called a "bond loan". Its a 10k bond that covers down payment, closing costs ect It goes on as a second mortgage, after a certain amount of years it matures and no longer needs to be paid back. Until you do it must be paid first if you sell
Finally someone who ACTUALLY understands the program correctly. I had to pay mine back because I sold my home 2 years later for 250k of tax free profit. I’m still eligible for the program again since I paid back the loan too.
It’s sad that young couples can’t start a family anymore, you have to make at least a 6 figure salary to live a “traditional” lifestyle. Then the old people wonder why we aren’t having children 😒
I’m 24 in my own house, pregnant with my 3rd, and we don’t come from money at all… it isn’t trying to act older than you are. It’s just having maturity and direction in life. These people have neither.
I'm 23 and got a house, though I did pay the down payment and got them to pay the closing costs. I make 70k, my wife makes 40k, I don't feel like I'm rushing, I'm not in debt, never went to college, I own 3 older cars, and I fix them myself. I took the risk, I very happy as young as I am, there much more work to do, and getting a head start will benefit me, I hope so at least, I'll do my best.
It's crazy to see how much society has changed. My parents were teenagers when they got married and it was normal. They were married until they died. I miss them. I hope that in time, that young couple looks back and laughs about all the struggles they overcame together. ❤
Says someone that is 20 :P Nobody is ready for 2 kids, 2 cars and a mortgage at 22. Especially these two that don't even have a single career between them. People have made it work, but most of those people were either rich, or did it in the 1980s.
My husband and I were able to buy a house at 23 with the same type of program where the down payment was covered. The only difference is that we could actually afford the payments. It was a first time homebuyers thing California did for people with amazing credit scores but not enough cash for a down payment. It was the best financial move we ever made.
I took out a second mortgage on my first home to purchase my second home… I live in the second home while my rent payments cover both mortgages on the first home…
I got married at 20. Had two kids by 24. Grew up poor AF, and didnt go to college. Even I didnt buy a house until I was 29 and could afford the down payment and closing costs.
I thought the same thing. I guess the mortgage lender doesn’t really care where the down payment comes from. As long as it lowers their liability and they get first dibs on proceeds from foreclosure.
I bought my first house at 22, graduated at 21, been working for about 8 years now. Got a lot to do around the house, it’s not a mansion. But it is mine, and I love it 🥰
remember when we used to start families at 18 and built the world that way for thousands of years? "buying a house and starting a family isnt in your age range" is so stupid.
Wow, i won't even finance a phone. I bought it for cash. Im so glad i have always had the mind state that if you can't buy it in cash, you can't afford it!!
Their age is not a problem. People have been doing stuff like that for centuries. It is now that we want to baby 20 year olds. They have to take financial responsibility. It's amazing that they have been able to accomplish all that they have done. They shouldn't be shamed for doing what they did at a young age. They should be guided into the right path so they can actually stay together forever.
For everyone saying houses are impossible these days this is a thing. Pretty much every town has programs that can get you into a house for almost nothing. You still need to have good credit to get pre-approved for a mortgage though. Even though prices went up the mortgage will be about as much as an apartments rent but your money is building equity that you can get back when you sell. With rent that money is just gone every month.
To be fair, the 20\80 mortgage isn’t a bad concept. The issue comes from people who buy too much home to start with. It would be nice if there were more starter homes and even better if construction companies were building starter homes, but there are starter homes out there. You just need to be willing to live in a house that isn’t as updated as you would like and might need a little work.
We put 1k down for ernest money, but that was it because my husband is military and got a VA loan. We actually MADE money because the seller paid all the closing costs and gave us cash at closing for minor repairs.
My husband and I bought a house and had kids but I worked instead of choosing college and saved a huge down payment and got a small starter home. It's definitely possible but not this way.
I got a house when i was 22. I had 3 roommates that paid me rent. I bought the house on an assumable loan for 88k. It was a dump. My parents put in 20k to help me fix it up and then 2 years later i refinanced and paid them back. I had it till i was 40 and sold it for 260,00. Its possible but you cant be pucky and you have to be willing to put in work.
And this ladies and gentlemen, is the case of "some" of the people bragging about buying a house at 18. They never mentioned these $20 down schemes or monetary gifts from family, trying to make you think you're behind in life...
My husband and I are high school sweethearts since 15 years old. Had our first child at 21 waited 10 long years until we had our other children when we were certain we were financially AND emotionally stable. After 24 years together we bought our first home 2 years ago (sucks bc of how high interest was). I cannot imagine when we were 22 rushing into things like this.. It’ll likely be their downfall they’re already blaming one another and seem miserable.. sad
My great grandparents bought nearly 500 acres in perry michigan of land with one steer as a downpayment. They had six kids. Great grandpa drank it away and my grandpa sold most of his birthright to his brother to be a diesel mechanic. His brother sold his share and kept a doublewide and one field. My uncle got the rest and sold it to buy a new mansion. There are five grandkids and everybody is 30
I disagree that they rushed into things. Having children young has definite advantages. Sure, they've made mistakes, but they have a lot of time to learn and recover. People a century ago figured it all out even younger.
I bought my house at 20 with no down payment I went through the rural housing development program and I got 3% fixed interest rate of course that was in 2010 My house payment is less than most car payments That's with insurance and property taxes escrow granted I didn't buy a house outside of my mains either I paid less than 100,000 for it
I’m 23 and as I get older and want a house, I’ve realized I’m in a better place renting for way less with a roommate until I can save up more, get a couple raises, and truly decide where I even want a house.
Watching these makes me realize that some people prioritize looking like they have money over actual having money.
Hahahaha it is so much worse than you know.
If he had stopped at the house and focused on their financial health for like five minutes they could have had kids at 25 and been legitimately financially secure.
Watching these should make you realize that shows like these cherry pick the worst of the worst when they screen to bring on guests. This is in no way indicative of the average person or even a common scenario, and the housing market is currently in the dumpster while most ordinary people may never be able to afford to own shelter because it is being treated like a speculative investment for huge corporations to hoard.
@@llamaryder1 You were a little unclear, is this kid the worst financially, or is he super lucky to have a house?
The vast majority of single-family-home sales are still done to owner-occupiers. A minority of home sales, 22%, have a buyer who is an investor but most of those are done to individuals investors. Only 3% of rental properties are owned by institutional investors meaning that 97% of rental properties are owned by smaller local investors ranging from medium sized corporations with one or several apartments down to individual investors with one or two properties.
You should look into what strong towns says about this. The focus on corporate home buyers is a red herring. Charitably its misplaced concern, at worst its used to distract from the real issues. Sadly the real issues are hard to solve; bad city planning, unequal property tax scheme, red tape for multi-family housing, etc.
Everyone is confused, Down Payment Assistance isn’t paid back it’s forgiven.
How no one understands this is beyond me, you only pay it back if you sell your home before the time period is up.
Literally not a single person in this freaking comment section of Caleb’s understands how the program works.
Omg Caleb 🤣🤣🤣 the soft "wear sunscreen" .. "every day"
You might be older but you definitely got better with age!!!
Make no mistake. Most men do 🤩
Omg literally he had me howling 😂
that was hilarious 😂 definitely do not put sunscreen on your face everyday though, objectively harmful amounts of exposure
Caleb's what, 30 or early 30s? Hell I'm 27 and I look younger than the dude he's talking to. I also never wear sunscreen unless I'm swimming or boating. Just got the baby face genes.
Thought he might be talking bout the song
That relationship lasting longer than 2 years should be a Netflix series
Man they've got two kids, I hope it works out for them. They've obviously got some growing up to do together.
She already looks exactly like Love Quinn from "you"
“We closed on our house for $20 dollars” i was drinking coffee and legit spit it out from laughter. Funniest shit i ever heard
I closed on my house for 0$. The program paid closing cost and the down payment
@@deebrown7160same we paid 0 on down payment, during Covid these programs were great and our interest rates are very los
Name of the program? @@deebrown7160
Ya worth it to laugh at someone trying to buy a house and save money
My aunt and uncle paid $1 for a down payment on their house. He’s ex military and a cop so that helped.
Only putting $20 down means the interest rate is horrible. They’re going to be paying tens of thousands of dollars of more interest throughout the life of the loan. It’s always too good to be true.
No. They took out a loan to cover the down payment. So the interest on the home loan is normal. BUT they have an additional loan for the DP that is probably absurd.
I remember learning that at the end of your contract it actually says you’re real interested you paid after you pay it off and it comes out closer to 40% rather than 3, 5, or 7%.
@@faithbasedliving9391 a rule of thumb is home interest will double to 2/3 times the price of the house you bought it at. That’s why 10-15 year mortgages are better. A 15 year compared to 30 on a 300k house can save you about $200k in interest
@@faithbasedliving9391Yeah. Because it’s like 7% on the principal amount PER YEAR. so, if your loan is for several decades, you will pay the initial amount at least 2 or even more times over by the end, depending on your rate.
Not necessarily, down payment doesn't impact interest rate in the same way it used to
I think I love about Caleb is that he doesn’t talk to people in a mean or demeaning way, but he yells at them the same way I would at my best friend if he was telling me he made these financial decisions
Me and my wife bought a house. I’m 23, she’s 21. We moved in maybe when our first son was 6 months old. WORST MISTAKE OF MY LIFE. Our home inspector missed a water leak (which after we found it, it was 100% obvious this has been a problem for at the MINIMUM MONTHS) NOTHING but problems have arised out of this house. Not a single good thing. We LOVED it, when we saw it. And then we bought it. And now we’re stuck with it. It’s to the point where there is nothing else I want more than to be able to sell it. And then if we sell it, the amount we will have to pay in rent will be ATLEAST DOUBLE what our mortgage is. It’s such a fucking sick, and twisted system. Please anyone out there. DO NOT BUY A HOME UNLESS YOU ARE LEGITIMATELY READY (me and my wife were convinced we were btw so make sure you fucking REALLY think). We moved too fast, bit off more than we could chew, and now, WE’RE FUCKED. I’m very lucky that I have the type of family who will never let my kids be homeless. Not so many are as lucky. BE CAREFUL.
thank you for sharing you and your wife’s experience. i think all of us young people (even older than you) can learn from this. it’s awesome to own property but you must do it responsibly. appreciate your openness and best of luck to you and your young family ❤
Good luck man and God bless you guys 🙏🏽 you’ll make it through, but this is the type of wisdom that comes from experience ^ and kudos for trying to help someone from making a potential mistake.
You have no business having kids at that age if a few minor home repairs (yes a minor repair today is $5000) ruins your financials. Its just that simple. At that age you should be hustling your ass off for money and investing in crypto, stocks etc. I feel so bad for the next generation.
@@mrbeverlyhills834 nah having kids is great and it’s what we need. Everyone is so nihilistic it’s what is driving our civilization towards collapse
@@mrbeverlyhills834 lmfao. I don’t care if I went homeless today. I’d happily have another kid tomorrow. I too feel bad for todays generation. You’re all convinced material is life’s end game. I would rather struggle for 85 years financially, and have a happy healthy family, rather than be financially rich for my entire life with no one to share it with. That shit right there is the definition of depression. Men believe they need to go get the money before getting the girl. And now they’ve just assured the only woman they find is only in it for the money. I’m happy and secure to say, if I was homeless. My wife would be sitting on the park bench right next to me. Motivating and encouraging me. It is because of the blessings my family has brought me, that I do believe we will always figure it out. Because when you have kids there’s nothing you can do but exactly that. Figure it out. It’s hard. But we’re a million times happier than our single and childless friends in our age group. (No matter how much they want us to believe otherwise🤣 to me going out clubbing and doing an 8ball of coke every Friday night doesn’t seem like happiness to me) And btw people have kids when they’re broke and become successful later on all the fucking time🤣
Down Payment assistance is the newest gimick, so many young people are jumping into getting second liens, and are immediately negative equity judt to "own" a house. Its 2008 all over again, just a different set of clothes.
Down payment assistance has been around awhile. I used to be a realtor and at the time in 2016 there was a down payment one and it vanished if you stayed five years in the house. Now it’s different but they aren’t new lol
This isn’t new and nowhere close to 08. Sub prime mortgages with variable interest hidden in investment packages are wildly different.
@@Everready_904 Thats the government bond loan. Its a great program, i paid maybe 1000$ in inspections ect. Bond covered the rest, it matures after X years cant remember exact and it goes away
@@Everready_904the program still is the same. And you say you were a realtor? DPA still is forgiven if you stay in the house long enough, only thing that you can’t do is have PMI waived unless you refinance the mortgage.
I’ve literally bought one home and am way more informed than you are about the process
I did a program. I just couldn’t sell my house for 5 years or else I’d have to pay it back. I got $18,000 grant
That guy doesn’t deserve a woman half as good as her…
The sunscreen trick is true.
I have hacked the system, by never going outside.
Weird to call it a trick but yeah it does keep your skin looking younger
You’re better off using Nivia.
@@___________0Z0X Any dermatologist will tell you that sunscreen is to be used every day to prevent signs of aging. Wearing Nivea instead ain't gonna cover that base.
Sunscreen is poison 😂
Quick story so I’m 35 and my house cost $350,000 in 2018 and it’s 2,300sqft Now it’s worth they say $700,000 and when my dad was 35 he got a house the same size on more land in the same city he paid $150,000 the next house was 5,000 sqft he paid $260,000 that house is now said to be worth $1.2 million. It was the standard to graduate either college or high school and get a house and a family and have the wife stay home and the husband to work. It didn’t matter if you were rich, middle class, or poor that was the standard for all the only difference was house size. Now the average starter home where I live cost the average of $450,000. I say it was the standard because it was affordable to all. Now you’re ridiculed if you attempt to buy a house and you don’t make $250,000 a year. Now they say rent your forever home and pay $6,500 a month to not even own it.
Property Managment Companies and Real Estate Investors have found a way to make Having A Place To Live into a subscription model...
And they'll have us for life.
Exactly
@SyureK13 regular landlords too. With their "passive income" empires
Oof the value double in that short of time. Must be a big bubble waiting to pop in ur area.
It’s called the debasement of currency over time.
I appreciate the fact that you go all in, but then show moments of compassion, they really are so young, that’s ok, they’re learning young too. I hope they focus on each other and treat their marriage a little bit more like a business being accountable to each other as partners.
I did something similar to get my home, but different. It was called the Down Payment Plus Program, which is available for first time home buyers. Depending on how much of your down payment is, a percentage of your closing costs are covered. If you put down at least $5000 (at the time in 2021) and take an online home ownership, 100% of your closing costs would be covered. I elected to put down $7000 in order to close by December 31st. The result is a $640 mortgage at a fixed 4% interest rate for a $101k home.
Where the actual (can’t say it here) did you find a house for 100k????
@@gregregor9689 In Northeast WI. It's a very old 3 bed 1 bath home that needs a lot of updates, but it is still in more than livable condition.
640 sounds kind of high for only 100k and 7k down.
@@beanteam2217 I'm no expert, but I believe escrowed property taxes and mortgage insurance are factored into the monthly payment.
100k… I could pay that off in a year 😂 Too bad california is like 500-800k
Bro sounds like he would finance a 10 piece nugget from McDonald’s lol
At current prices he might have to
@@SiferatuAt current prices, I might have to 😅
He does. He’s doesn’t eat when she cooks dinner
Unpopular opinion: if you can’t save money for just the down payment, you shouldn’t be getting a house.
That is dumb, I bought my first home with Down Payment Assistance, made 250k of tax free profit once I sold my home 2 years later.
You have zero idea on how to leverage debt with that mindset of yours.
@@JamesCook76131 Congrats on taking advantage of a housing anomaly that will never occur in such a short time frame again in a very long time (if ever).
There are many people who have little to no money saved that try to go the route of DPA, and realize that owning a home is more expensive than rent. This is why foreclosure/default rates are now increasing because they are over leveraging themselves.
@JamesCook76131 you just got lucky. Down payment assistance is very limited. And when there is the buyer is not interested or there's a catch to that assistance.
@@alextogo8367 luck is not what happened to me, i understand how to make money. I’m always looking to make more money.
Half of these guests have zero idea what it’s like to have a mind set to wake up at 2:30am and start working until 9pm.
Like I said luck had no bearing on my home buying experience, my attitude and my understanding of finance products allowed me to maximize my profits with very little investment on my end.
We're I live minimum for a house is 250k that's 50k down for 20%...
THANK YOU for choosing ceravue as the sunscreen for the edit. My daughter and i have sensitive skin on our face and if we use anything cheap/harsh we nreak out. Cerace make a great sunscreen for the face
I appreciate the sunscreen comment 😂
I feel like the thing that most people focus on when buying a house is getting a house that suits them perfectly or having things in their house that makes them desire to buy it. I bought a house for $50,000 and I have had to fix everything in it so far but guess what I’ve done the majority of it myself and it’s taught me things nowadays, if you want the flashy shiny things you have to build it yourself unless you want to spend six figures on a amenities
ooh caleb dishing out all the good advice. yes, wear sunscreen everyday despite your melanin composition. it really does help, even if you only sunscreen your face daily, it decreases your risk of melanoma and some scarrings :)
The photo of Caleb with the Microsoft paint on chain is cursed 😂 😂
Bro you are my spirit animal!! I feel you man sooooo good looking in our teens and in our 30s jusy frumpin through life
Dude, this guy is great. Informative and funny.
Sometimes you can do it early. 🤣 My dad made me put half of all my highschool paychecks into the stock market (which he ran), when I was 19 I bought my first house because I had plenty for a down payment. On the third house now, still own the first as a rental. Got lucky, I reckon. 🤙
Caleb’s on fire! Great advise
I did the same program. The housing fund to get into my first home and guess what sold it for a stupid amount, paid off all my debt, had enough left over to buy another investment and had money in the back. If you do things correctly, then it works out fine.
'My extremely niche edge case worked out so idk, just go for it or whatever."
A house and kids for newlyweds used to be a thing but our politicians fucked that up.
and dont get married before the house is in just your name, the court will make you homeless and pay 2000 a month, one of these days i might just snap
"Everyday.".
Amen, brother!
Speaking for the gingers, we approve.
I bought a condo with my now wife after 6months with her. It was 141000, it was cheaper than renting an apartment. We lived there for 4 years had a kid and another on the way. Sold it for 210000 bought house after. Best decision of my life.
It's mind boggling to me that people this young think they should buy a house. My husband and I didn't buy a house until we were in our early 30's and we had 3 kids. This is bananas.
Don’t judge people by age, judge people by actions. I bought my house at 23 around 3 years ago and things have been fine. I got it on a VA loan so I did not put a down payment but I figured in the amount of time it’d take me to save up a down payment I would lose just as much money by waiting as biting the bullet now not putting a down payment. Just as I thought my house is estimated to be worth about $80k more than I financed it for now and that’s after 3 years.
I got my house for $20k under asking and at 2.7% interest.
Homes shouldn't be this outrageous in the first place
The picture of Caleb 😅
I think these two will be okay. Wifey has to have more idea of the finances. But he’s way ahead of the game in terms of earning power.
You can get whats called a "bond loan". Its a 10k bond that covers down payment, closing costs ect
It goes on as a second mortgage, after a certain amount of years it matures and no longer needs to be paid back. Until you do it must be paid first if you sell
Finally someone who ACTUALLY understands the program correctly.
I had to pay mine back because I sold my home 2 years later for 250k of tax free profit.
I’m still eligible for the program again since I paid back the loan too.
Same thing we have, and it's an extra $110/month. We had to move quickly due to health reasons. It's a perfectly fine way to get a house.
It’s sad that young couples can’t start a family anymore, you have to make at least a 6 figure salary to live a “traditional” lifestyle.
Then the old people wonder why we aren’t having children 😒
Made my day with that pic of you thank you sir
That chick seems legit. Shes just with the wrong guy. She needs a man who knows how to take on life.
And I am that man.
She’s gorgeous, way out of his league. He got lucky.
bought my house at 22. didn’t put down $20 though. hustling and mental responsibility make a difference
I’m 24 in my own house, pregnant with my 3rd, and we don’t come from money at all… it isn’t trying to act older than you are. It’s just having maturity and direction in life. These people have neither.
I'm 23 and got a house, though I did pay the down payment and got them to pay the closing costs. I make 70k, my wife makes 40k, I don't feel like I'm rushing, I'm not in debt, never went to college, I own 3 older cars, and I fix them myself. I took the risk, I very happy as young as I am, there much more work to do, and getting a head start will benefit me, I hope so at least, I'll do my best.
It's crazy to see how much society has changed. My parents were teenagers when they got married and it was normal. They were married until they died. I miss them. I hope that in time, that young couple looks back and laughs about all the struggles they overcame together. ❤
22 years old is a full grown adult.
Says someone that is 20 :P
Nobody is ready for 2 kids, 2 cars and a mortgage at 22. Especially these two that don't even have a single career between them.
People have made it work, but most of those people were either rich, or did it in the 1980s.
The picture is crazy😂😂 I love this guy
That’s why those down payment programs may not be the best for everyone. Owning a home cost much more than a down payment.
My husband and I were able to buy a house at 23 with the same type of program where the down payment was covered. The only difference is that we could actually afford the payments. It was a first time homebuyers thing California did for people with amazing credit scores but not enough cash for a down payment. It was the best financial move we ever made.
I took out a second mortgage on my first home to purchase my second home… I live in the second home while my rent payments cover both mortgages on the first home…
Financial AND skincare advice! This guy knows wtf he's doing
If they don't take any financial advice from Caleb to heart, I hope they at least take the sunscreen advice 😂
I love how Caleb shares little non-finance-related advice sometimes, like "just wear sunscreen, every day." ❤
(by the way, I'm a man and I do)
A box of donuts 😂😂😂😂😂😂
I got married at 20. Had two kids by 24. Grew up poor AF, and didnt go to college. Even I didnt buy a house until I was 29 and could afford the down payment and closing costs.
Caleb's photo took me outtt 😂❤
Doesn’t that just defeat the purpose of a down payment? How is that legal lmao
I thought the same thing. I guess the mortgage lender doesn’t really care where the down payment comes from. As long as it lowers their liability and they get first dibs on proceeds from foreclosure.
25+ years ago baz lurhman told us all to wear sunscreen every day... He wasn't wrong
These kids are going to for sure lose that house.
Reminds me of this young kid at the job who thinks he needs a house and a garage for his car but reality will strike lol
I love how Caleb is willing to make fun of himself sometimes. 😂
Every time I want to buy something I just need to pu up your page lol
I bought my first house at 22, graduated at 21, been working for about 8 years now.
Got a lot to do around the house, it’s not a mansion. But it is mine, and I love it 🥰
Whomst let anybody close on a house for $20?!?
In DE we got into a program that covered closing costs. And with the VA loan we actually earned 2300 after closing
"Wear sunscreen, every day."
Solid advice if you want to stretch out your younger years. UV ray damage is real and cumulative.
Why do I look at this 22-year-old boy and think of that one guy that keeps calling everyone beta!
That's why people should get finance education before they make any steps 😔
remember when we used to start families at 18 and built the world that way for thousands of years?
"buying a house and starting a family isnt in your age range" is so stupid.
Every video of these people just gets worse and worse. And im loving it
Omg that photo jump scared me
Wow, i won't even finance a phone. I bought it for cash. Im so glad i have always had the mind state that if you can't buy it in cash, you can't afford it!!
I financed part of the downpayment for my house. Worked out to a better blended interest rate and avoided PMI, which is a waste of money.
Never finance a down payement 😂😂😂
Inflation killed the American dream
Their age is not a problem. People have been doing stuff like that for centuries. It is now that we want to baby 20 year olds. They have to take financial responsibility. It's amazing that they have been able to accomplish all that they have done. They shouldn't be shamed for doing what they did at a young age. They should be guided into the right path so they can actually stay together forever.
For everyone saying houses are impossible these days this is a thing.
Pretty much every town has programs that can get you into a house for almost nothing. You still need to have good credit to get pre-approved for a mortgage though. Even though prices went up the mortgage will be about as much as an apartments rent but your money is building equity that you can get back when you sell. With rent that money is just gone every month.
To be fair, the 20\80 mortgage isn’t a bad concept. The issue comes from people who buy too much home to start with. It would be nice if there were more starter homes and even better if construction companies were building starter homes, but there are starter homes out there. You just need to be willing to live in a house that isn’t as updated as you would like and might need a little work.
We put 1k down for ernest money, but that was it because my husband is military and got a VA loan. We actually MADE money because the seller paid all the closing costs and gave us cash at closing for minor repairs.
My husband and I bought a house and had kids but I worked instead of choosing college and saved a huge down payment and got a small starter home. It's definitely possible but not this way.
Sounds like a smart idea, of someone will lend you the money why not. Tennessee has the same style program. Either 5k grant or 5% in a second mortgage
Don’t forget sunscreen on the hands/neck as well!
I got a house when i was 22. I had 3 roommates that paid me rent.
I bought the house on an assumable loan for 88k. It was a dump. My parents put in 20k to help me fix it up and then 2 years later i refinanced and paid them back.
I had it till i was 40 and sold it for 260,00.
Its possible but you cant be pucky and you have to be willing to put in work.
The more i watch this guy the more I love it 😅
And this ladies and gentlemen, is the case of "some" of the people bragging about buying a house at 18. They never mentioned these $20 down schemes or monetary gifts from family, trying to make you think you're behind in life...
There is a difference between buying and actually owning.
When it sounds too good to be true........
My husband and I are high school sweethearts since 15 years old. Had our first child at 21 waited 10 long years until we had our other children when we were certain we were financially AND emotionally stable. After 24 years together we bought our first home 2 years ago (sucks bc of how high interest was). I cannot imagine when we were 22 rushing into things like this.. It’ll likely be their downfall they’re already blaming one another and seem miserable.. sad
ex wife enroute to hot girl summer while ex husband at home with the kids
My great grandparents bought nearly 500 acres in perry michigan of land with one steer as a downpayment. They had six kids. Great grandpa drank it away and my grandpa sold most of his birthright to his brother to be a diesel mechanic. His brother sold his share and kept a doublewide and one field. My uncle got the rest and sold it to buy a new mansion. There are five grandkids and everybody is 30
If you are watching this your life is better off than them, and you are doing just fine👍
Caleb Hammer needs to for president!
the dude saying they have babyface literally looks the same age as them lol. and sounds the same age too...
Listen lady do not let your husband make these financial decisions because he’s really really really bad at it
In a civilized society, you should be able to own a house at 22
I disagree that they rushed into things. Having children young has definite advantages. Sure, they've made mistakes, but they have a lot of time to learn and recover. People a century ago figured it all out even younger.
He's so proud to have only put 20 dollars down 😂
I bought my house at 20 with no down payment I went through the rural housing development program and I got 3% fixed interest rate of course that was in 2010 My house payment is less than most car payments That's with insurance and property taxes escrow granted I didn't buy a house outside of my mains either I paid less than 100,000 for it
How dare these people want what the boomers had.
I’m 23 and as I get older and want a house, I’ve realized I’m in a better place renting for way less with a roommate until I can save up more, get a couple raises, and truly decide where I even want a house.
HES 22?? DAWG NO!!!!!!! GETTAGONE
The problem isn't the kids because that gets taken care of. The problem is everything else.
At least... i can understand their thought process on this. They wanted to follow that good hearted dream, but unfortunately rushed into it
This is what happened when you let the government get involved in the private sector. Fails every time.
Bro that face at the end