$1,000 Buys a Home (USDA Home Loan EXPLAINED)
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- čas přidán 12. 09. 2024
- Are you dreaming of owning a house but don't think it's possible with limited funds? Many people believe that you have to have tens of thousands of dollars to buy a house, but that's not the case. We have a secret real estate hack that can make your dreams come true! And it's one of the easiest ways to buy a house for cheap! Find out how you can buy a house with just $1000 through the USDA Rural Development Program.
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DISCLAIMER The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.
I love your content and thumb up every time I watch. Please, get a little mic so it's easier to hear you clearly. Thank you!
Great video. Invaluable information. Brilliant presentation! Your analysis is always spot on and and beneficial to us in the world of purchasing real estate.
You have a great sense of humor. Great information, thank you
Hello Wayne. I’ve watched your videos for a long time now, and I have to say, your camera angles and post production work is really good. That’s a nice touch with the fake cash (for Motion Picture Purposes). :)
Awesome video! What you said about ceiling fans is 100% true!
Thank you for sharing this info. I never knew about the USDA program. Going to look into it.❤
The catch is that on a USDA loan your obligated to live there for 2 years straight out.
Thank you for you videos! This is my plan to get a USDA house and live in the middle of nowhere with some dogs. I'm an entrepreneur and although my credit score is over 800, I don't qualify because I have too many deductions. It's pretty ironic that people who work from home that can live in the middle of nowhere wont be qualified vs someone who works at a job in a city can qualify and can't live in the middle of nowhere.
Too many deductions can prevent you from qualifying, unfortunately
On a $200,000.00 house with $1,000.00, the mortgage note will probably very high. What is the interest rate with that little amount down?
I’d love to purchase this as a rental property.
Hey Wayne, could you address how the USDA loan compares to the VA loan? I found even with the VA loan covering costs and requiring no money down my problem was people bidding over the value of the property against me. Any tips for that?
The USDA only gives loans on turn key properties in Minnesota
Had an agent was gonna get me in to an USDA home but never mentioned any $1000.00 homes at all.Alway's trying to get me the max cost ones that i qualified for. I never got a home.
Are there income limits?
Can you make too much money for this particular loan program? If so, what are those limits?
Same question AND what if you're retired, have a very good credit score, IRA's & stocks, and more than enough money to pay cash for the home, can you still do a $1,000 down USDA loan to buy it?
@@beachcitymobileIf a person has money, putting as much ch down would keep the interests cost down as well as the interest rates. The more a lender gives out in loans, the more risk involved making the lender make more money.
great video sir. production getting better every episode
Could you please show areas on California like landers and lucerne valley please ❤
Thank you, Wayne !
If you are on low income how would you go about getting a house. I mean a fixed income?
He never shows it how? We spent 10 minutes on this video and he made his money from You Tube…. 😂
Well if you need your hand held, you'll need to pay someone to hold your hand
Thanks
@@bellamarley9455that's not it, the title is clickbait and he doesn't actually explain it. Because he can't he's not a financial advisor. It has nothing to do with handholding.
Oh snap; mic drop...
USDA sounds like a good program my parents were smart realtors but they never heard of it.
Where can I get the details?
I Really need help getting a place to live and your video seems to guide me in a way I had NO idea about!! But..The paperwork and info on the gov site is a tad daunting. Any guidance there? tyvm
I love your videos! But making less than $45K, it seems like it's still a far away dream.
This is awesome
Hello my husband is in military after retirement we trying to find house just simple 3 bedroom and 2 bath and location in Pensacola Florida did we can find house like that?for closure ?
Are you getting people approved to assume the existing mortgage?
So im curious about if there are any differences if you want to go out of state
The USDA loan sounds good, but I make more than their income limit for my area.
That home depot music will not work against me! I will resist the buying of extra items from home depot. I will use the home depot ear plugs I bought to block out the music. Wait, dang it, they got me for earplugs still. Maybe il try Lowes.. ehh I give up.
Bu ev kaçpara ben almak istiyorum turkıyede yaşıyorum ödenecek butun tutar nekadar
I am about to be homeless, i do not drive and the house i have rented is being sold or i am not to live at it anymore after November 1st or November 6th.
@Wayne Turner I’m a REALTOR® in GA and would love to partner with you.
What a synchronicity moment because just today I was describing an art space and for lack of architectural knowledge I said that the ceilings were cathedral when they were/are instead vaulted--thank for that weird coincidental tip.
I don’t see Wayne addressing comments
I do my absolute best to address all comments, but I do miss some.
speaking of intellectually lite on the flim flam youtube clickbait schemes
Love the satire. I think you're on to something. Keep up the great work.
Is that house in Southern Louisiana ??
Yes, I’m in southeast Louisiana
Why isn't he answering any of of the questions or comments
I’ve been answering the questions and comments. Did you have a question?
it doesnt need a bath it needs a price drop..that price is way to high you need to cut it!!!
If you ain't going to tell us how at least get a microphone
If you make over ~$130/yr you're ineligible for this loan.
If we can buy for $1000 we can pay cash 💰
"been on your job for two years", meaning 401k corporate wage slave. Small business owners need not apply. downvoted
If you’re self employed it’s the same. Two years of steady income.
Hi Wayne! I was almost finished with my comment and it disappeared so I'm starting over. What is the best way to contact you in regards to getting an agent in my area in Pennsylvania that knows anything about this? My husband, 57, will be buying his first home and we've gone through the loan process already and he is approved by the underwriter. Not as much as I hoped for but I still think it's doable. My Loan Officer is qualified for USDA but keeps telling me they are much stricter than FHA when it comes to debt to income ratio. He has no debt so I guess its a nice way of saying he just doesn't make enough money. It's two different things I know but she has encouraged forclosures because not all are bad properties. His credit is well above the 640 and he is a first time home buyer and thsts the other thing, no one has a lot of experience in grants either and there are many for FTHB. Please, please help us if you can. we would be so grateful. I've finally, after 15 months of this and staying with my moment, gotten to a point of feeling hopeless and helpless and thats not me at all. I can't have that kind of attitude or they all will as well. He is doing the loan totally on his income which is fine because the payment has to be comfortable for us and thats where it is right now. I've owned 4 homes and I really wsnt this for him!
*staying with my mom