The USDA loan provides low- & moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas.Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers – so no money down for those w...
Feb 07, 2023•13 min
Late update I'm covering the impact the 2.1.23 rate hike will have on the housing market, mortgage rates and where things may go from here. First Time Home Buyer School- https://www.facebook.com/groups/fthbschool Home Buying & Credit Courses-https://coinsnculture.gumroad.com/l/rHHKs TikTok https://www.tiktok.com/@coinsnculture IG- https://www.instagram.com/coinsnculture/ @coinsnculture coins-n-culture
Feb 03, 2023•11 min
These are 6 mistakes I've been 1st time homebuyers make in a 7 yrs in the mortgage industry.The mistakes that didn't make the list were: think you can rehab a property yourself, thinking you can time the housing market & listening to guru credit hacks/ short cuts. These are the top 6 common 1st time homebuyer mistakes. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealt...
Feb 02, 2023•19 min
VA helps Service members, Veterans, and eligible surviving spouses become homeowners. As part of the VA's mission to serve you, they provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. This is a...
Jan 31, 2023•11 min
These are 11 cities that'll pay for your moving costs, provide down payment assistance or other incentives to move there. Here are a few of the cities in no particular order. Check out the episode for all 11. * Paducah, Kentucky * Greater Rochester, New York * West Lafayette, Indiana (Home of Perdue University) * Tulsa, Oklahoma * Cities in Southwest Michigan * Topeka, Kansas This is a show for millennial first time home buyers looking to buy their 1st home and build generational wea...
Jan 26, 2023•12 min
The Neighborhood Assistance Corporation of America (“NACA”) is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership. NACA has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or modify their predatory loan with far better terms tha...
Jan 24, 2023•16 min
An FHA 203k loan lets you purchase or refinance a fixer-upper and finance the needed repairs — all with a single loan and one monthly mortgage payment. Sometimes called a “Rehab Loan,” this type of mortgage addresses a common problem when buying a fixer-upper home. Lenders often won’t approve loans for homes in need of major repairs. But because the lender tracks and verifies repairs when using a 203k loan, it is willing to approve a loan on a home it wouldn’t otherwise consider. Th...
Jan 19, 2023•12 min
Belated MLK episode concerning MLK's "We're Coming To Get Our Check" speech from his Poor People’s Campaign. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Email: [email protected] First Time Home Buyer School- https://www.facebook.com/groups/fthbschool Home Buying & Credit Courses-https://coinsnculture.gumroad.co...
Jan 18, 2023•4 min
In this episode we cover the conventional loan down payment requirements, conventional loan credit requirements, conventional loan appraisals, conventional loan DTI, conventional loan gift requirements and a lot more tune in. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Email: [email protected] First Time Home...
Jan 17, 2023•18 min
Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers... Wells Fargo said it will also exit its correspondent business, which buys loans made by other lenders, and reduce the size of its mortgage servicing portfolio. This is a show for millennial first time home buyers lo...
Jan 12, 2023•7 min
I discuss 2023 FHA loan limits, FHA loan DTI requirements, FHA appraisal, FHA loan down payment requirements, FHA loan seller concessions, house hacking with an FHA loan, FHA amendatory clause, FHA 203k Rehab loan and a lot more FHA rehab loan: https://youtu.be/DsHkwCCQIzc This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap.  ...
Jan 10, 2023•18 min
Bruce’s Beach, an oceanfront property in Southern California that was taken from Black owners in the Jim Crow era and returned to their descendants last year, will be sold back to Los Angeles County for nearly $20 million, county officials said Tuesday. Gift of equity video: https://www.youtube.com/watch?v=q6lWdaTk8H8 This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black weal...
Jan 05, 2023•9 min
These are actionable steps you can take to buy your first home. The steps in this episode are 1) listen to the episode to find out 2) determining your home ownership goals & property types 3) determine the price range you want to buy in 4) determining your home ownership budget 5) figure out how much money you need to buy a home 6) the mental aspect of buying a home 7) questions to ask a lender 8) questions to ask a realtor Watch on YouTube: https://youtu.be/cCI2zoVioak DIY credit cour...
Jan 03, 2023•32 min
The USDA loan provides low- & moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers – so no money down for those ...
Jan 03, 2023•13 min
Fannie Mae, one of the largest buyers of mortgages in the US, recently made updates to its automated underwriting system to make getting a mortgage more accessible to borrowers who don't have a credit score. I break down how this impacts the "credit invisible" community obtain a conventional loan easier. https://www.businessinsider.com/personal-finance/fannie-mae-expands-mortgage-access-borrowers-no-credit-score-2022-12 This is a show for millennial first time home buyers looking to buy t...
Dec 29, 2022•6 min
In 11 major U.S. metros rent declined, with the largest drops in Milwaukee, Minneapolis and Baltimore. The median U.S. asking rent in October rose 7.8% year over year to $1,983, the smallest annual increase since August 2021. October marked the second-straight month of single-digit rent growth following roughly a year of double-digit gains. It was also the fifth-consecutive month in which annual rent growth decelerated, with rents rising at about half the pace they were six months earlier. Rents...
Dec 20, 2022•7 min
My quick thoughts on Federal Reserve raised interest rates 5.% on Wednesday, a smaller increase than in recent months and an acknowledgment that inflation is finally easing. The increase marks a shift for the Fed after an unprecedented year that includes seven-straight rate hikes as part of an aggressive campaign to try and bring down the highest inflation since the early 1980s. This is how this rate hike will impact the 2023 housing market. This is a show for millennial first time home buyers l...
Dec 15, 2022•7 min
The 11 2023 housing market predictions from 2023 from Redfins article "Housing Market Predictions 2023: A Post-Pandemic Sales Slump Will Push Home Prices Down For the First Time in a Decade." 1.Home sales will fall to their lowest level since 2011 2.Where interest rates will go 3.Home prices prices will depreciate the largest in 10 yrs and foreclosures... 4.These markets will be fine 5 Where rents will go 6. Builder will change their focus 7.Investor activity 8.Gen Z'er reaction 9. W...
Dec 13, 2022•12 min
An assumable mortgage allows the buyer to purchase a home by taking over the seller's mortgage loan. One reason buyers decide to buy a home with an assumable mortgage is to take advantage of financing with a lower interest rate if rates have risen since the seller originally purchased the home. Not all mortgage are assumable however... This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to buil...
Dec 06, 2022•7 min
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022. They are higher in high cost of living areas such as New York or Los Angeles. I also discuss the importance of this increase as it related to jumbo loans. This is a show fo...
Nov 30, 2022•2 min
Peak-to-trough, Morgan Stanley expects U.S. home prices to fall 10% by 2024. However, the firm also says a 20% crash is possible. The 10% decline is up from their 7% depreciation prediction earlier in the year. They base this on looking at the Case-Shiller National Home Price Index. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. E...
Nov 29, 2022•9 min
JPMorgan Chase is partnering with Haven Realty Capital buying and developer $1 Billion in rental properties. Their goal is to buy and build “entire communities of new homes,” They are starting with 2,500 homes in three neighborhoods in Atlanta in the next 3 months. The goal is to turn American into a nation of renters. They are partnering with builder to buy homes at a discount. This is a show for millennial first time home buyers looking to buy their 1st home and build g...
Nov 22, 2022•5 min
Today we answer a listener's question about how to deal with a debt collector that is attempting to collect her son's debt from her. DIY debt repair class- https://youtu.be/-BvQpQyMAPY This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Email: [email protected] First Time Home Buyer School- https://www.facebook.com/g...
Nov 18, 2022•4 min
Wells Fargo's home loan origination volume is down 90%. I used to be a lender with Wells Fargo so I can add some perspective to this headline. The time frame for this period is very important, so is the type of volume (purchase v refi). There are a lot of sensational headlines concerning the housing market and in this series I'll add some perspective on what's clickbait and what's really really. This is a show for millennial first time home buyers looking to buy their 1st home...
Nov 17, 2022•5 min
In this episode I breakdown my Experian boost does not help you when it comes to improving your credit to buy a home or car. Experian boost main purpose it to get access to you banking account. Per their website " improve your credit scores and build credit history using utility, telecom, rent and streaming service bills you pay every month. Experian Boost works by connecting to your bank and credit card accounts to find qualifying on-time bill payments" DIY Credit Master Class-https://you...
Nov 15, 2022•6 min
The seller is responsible for paying the buyer's agent and the seller's agents commission in almost every scenario you can think of. In this week's listener mail I dive in to what to do if this number is less than normal. I also cover what the real estate agents fiduciary responsibility is per the National Association of Realtors. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way ...
Nov 11, 2022•3 min
A 2:1 interest rate buy down can be used to combat interest rates in this high interest rate market. This is video i will share the pros and cons as well as add some context to where rate have been historical so you can better understand what a "good" rate is. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Homebuyinh tips on the ...
Nov 10, 2022•8 min
The Federal Reserve, raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The has an impact on mortgage rates and designed to slow appreciation on home prices combat inflation. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Education Home tips...
Nov 08, 2022•8 min
Mortgage rates are high, right. But high in relation to what. The "good" things about high interest rates in there is less competition. This ironically is what you wan to wait until 2024 or whenever to buy a house right. In today's episode im going to go over the steps that I would take to get the best rate and deal if I was going to buy a home in this housing market. This is the link to the accompanying YouTube video: https://youtu.be/KXlUg4Yi9GE This is a show for millennial first time h...
Nov 03, 2022•2 min
The Fair Debt Collection Practices Act (FDCPA) (15 USC 1692 et seq.) was designed to eliminate abusive, deceptive, and unfair debt collection practices. It also protects reputable debt collectors from unfair competition and encourages consistent state action to protect consumers from abuses in debt collection. These are 10 violations debt collectors made that may earn you $1000. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth throu...
Nov 01, 2022•11 min
