Which is better FHA or Conventional Financing for First Time Buyers? FHA Loan Requirements 2024

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[@angelapittman3999]

Great information - straight to the point with
Important details! Thank you, Mrs. Hill!

[@ShaheedahHill]

Thank you Angela!

[@Cpre1111]

Great video! Thanks for sharing!

[@bggrfafe]

Thank you so much for the info! Love your channel! So easy to understand 😀

[@ShaheedahHill]

Thank you for watching

[@trw927]

Great information! Thank you for doing this comparison video. I have learned a lot about conventional loan from CZcams university lol and it’s not as scary as I previously thought

[@ShaheedahHill]

Thanks for watching!

[@milesholloway6031]

Thanks!

[@nicolehester3752]

Thank you!!

[@missjackson1014]

I love your videos! You explain things so thoroughly! Ty!

[@ShaheedahHill]

You are so welcome!

[@tosinorogun5729]

Thank you. Clean analysis!

[@ShaheedahHill]

Thanks for watching!

[@stephaniemciver1395]

Very straight to the point and informative. Thank You!

[@ChanelBrooke1994]

I love this video well explained

[@KamalElfahssi]

As always, Shaheeda, very informative and it is just a great pleasure to watch your videos.

[@KeebasLife]

Great information. Thank you for all you are doing to help future buyers.

[@famf6234]

Great info again Shaheeda! Thank you much! 🙏

[@ShaheedahHill]

You are so welcome!

[@Lynn-cv2pz]

Thank you, thank you, thank you!!!

[@ShaheedahHill]

Thanks for watching

[@dannyarreola4035]

Thanks for this information video was great on explaining!!!!

[@ShaheedahHill]

You are so welcome, thank you for watching!

[@crazyknotts6016]

Thanks !!! :)

[@chanyg1013]

Thanks for this video! Very informative.

[@ShaheedahHill]

Thanks for watching

[@baileyembry6057]

Great Video!!!!

[@ShaheedahHill]

Thanks for watching

[@tjane_izme]

Great info! Thank you

[@ShaheedahHill]

My pleasure!

[@blessedmom7448]

Great information!
Thanks

[@ShaheedahHill]

Thanks for watching

[@BigJim5754]

Fantastic clear info. Thank you

[@ShaheedahHill]

Glad it was helpful! Thanks for watching

[@gisellebarrow9672]

Thank you!!!

[@ShaheedahHill]

Thanks for watching!

[@masudpeach3017]

Very informative video, thank you so much!

[@ShaheedahHill]

Thanks for watching🙂

[@drumnoise865]

so clear,,thank you

[@ShaheedahHill]

You are welcome!

[@antoinemotivate1890]

Thank you for the great content 👍

[@ShaheedahHill]

Thanks for watching

[@MrsDupres]

Thank you!

[@ShaheedahHill]

You're welcome, thank you for watching.

[@celicoasidanya4696]

I LOOVVEE ALL YOUR VIDEOS

[@topnotch1012]

Great video!!! Full of helpful information for first time home buyers like myself.

[@ShaheedahHill]

Thanks for watching!

[@krystlec8210]

Thank you for the information.

[@ShaheedahHill]

Thanks for watching

[@tinazhang4396]

You are the best one to talk about it 👍

[@ShaheedahHill]

Thanks for watching!

[@connie3502]

This was a great video...So much important information that I never knew...I think in a year I wanna start my buying process...

[@ShaheedahHill]

Go for it! Thanks for watching🙂

[@lilliewashington-mccloud7503]

Thank You so much for sharing the difference in FHA and Conventional Loans.

[@favorb]

Very detailed 🙏🏽

[@ShaheedahHill]

Thank you!

[@monavamp8642]

Thank you so much for this info. We want to start looking into the process of buying but with the market the way it is well... It's been scary. Your videos have really helped thank you again ☺️

[@ShaheedahHill]

Thanks for watching!

[@robertcolon4998]

You are so helpful god bless you we need more people like you in america I am finally getting my home as a single parent and you was my teacher also yo are a very good looking woman keep up the good work you have a puerto rican fan I told a couple of my co workers about you and now everyone is watching your videos and trying to buy a house 🏠

[@ShaheedahHill]

Thanks for watching! Congratulations!!!

[@trent9890]

Very professional and very knowledgeable about the home-buying process I actually needed this information had no idea they were so relaxed with FHA loan requirements thanks.

[@ShaheedahHill]

Thanks Trent!

[@Aichabraids]

Girl you are the best for me right now I come across your videos right on time thank you soooooo much

[@ShaheedahHill]

Thanks for finding me😊Welcome to the channel!

[@karimsanchez8058]

Great info , I put down 30 % on my 3 bedroom condo in the long term it will be worth it , my credit score is 800 . I just closed on Jan 4 , 2022 . It went pretty smooth .

[@ShaheedahHill]

Congratulations and thank you for watching!

[@jusshy]

Now write that mf off 🤭 cus you bought it soon as you signed

[@youngkrich]

What state?

[@Skipperloop]

Bro said all this just to brag lmaoo okay dude we get it big money 💰

[@manoftheyearkp7158]

I'm sorry but FHA isn't good to me. Most people getting FHA loans have low credit scores and low income. They are you getting a mortgage that's whyyyyy to much and before you know it they are out of the house. People please save some money to put a nice down payment on your home and get a low mortgage for no more then 15 years.

[@johnwayneeverett6263]

THANK YOU...God bless to all .

[@ShaheedahHill]

Thanks for watching!

[@MichaelGouldcanyouimagine1858]

keep doing what you're doing...

[@ShaheedahHill]

Thank you🙂

[@deshawnbaker5992]

Great video good way to explain

[@ShaheedahHill]

Thanks for watching!

[@shianncamacho3132]

We are finally under contract under an FHA 🙏🏻🙏🏻🏠🏠🏠 Feeling so blessed but also anxious!!! Your channel is amazing. Btw also moving to GA!

[@sugadeeification]

Thank you so much man this information was very informative and helpful.

[@ShaheedahHill]

Thank you for watching!

[@ginettejeanmichel6274]

Thanks my teacher 😘 very helpful information.

[@ShaheedahHill]

Thanks for watching

[@truth2341]

Great information, thank you !

[@ShaheedahHill]

My pleasure, thank you for watching.

[@truth2341]

I'm a work in progress. Think I will be fine. Just have to keep learning. Enjoy your day stay warm.

[@lelaslipgloss1728]

Thank you so much Shaheedah! This is exactly what I been looking for! First time home buyer and it is so overwhelming.

[@ShaheedahHill]

You're so welcome!

[@XoxoQuandra]

Thank you sis!!!!

[@ShaheedahHill]

Thanks sis for watching!

[@mnicole792]

This is extremely helpful

[@ShaheedahHill]

Thank you for watching!

[@danielmorency8798]

Great video.

[@ShaheedahHill]

Thanks so much!

[@emc14360]

Great video!

[@ShaheedahHill]

Thank you!

[@vanikastrickland2995]

You are Heaven Sent Mrs. Hill

[@feminineone9610]

You are a blessing 💜🌺🙏🏽

[@ShaheedahHill]

Thank you for watching!

[@tjtj6540]

Yes

[@trinity5222]

Thank you so much

[@ShaheedahHill]

Thanks for watching

[@srtdonp9724]

You’re the best.

[@ShaheedahHill]

Thank you😊

[@jamesrecknor6752]

Took me about one minute to decide to subscribe. Thank you for helping us.

[@ShaheedahHill]

Awesome! Thank you!

[@happynootnoot]

This video was so informative and really cleared up a lot of topics for me. Thank you so much!!!

[@ShaheedahHill]

Thanks for watching!

[@naturally_fit3549]

Thanks so much for this informative information

[@ShaheedahHill]

Thanks for watching!

[@carolyneasley8980]

This video was better than the home owners class I took.

[@ShaheedahHill]

Thank you😊

[@mdro434]

Good stuff 🐂♉️🏠🍀

[@ShaheedahHill]

Thanks for watching

[@johnwilson5157]

Excellent Info

[@ShaheedahHill]

Thanks for watching!

[@noemybrito9070]

So informative, straight to the point!

[@ShaheedahHill]

Thanks for watching!

[@carobp3575]

Very informative

[@ShaheedahHill]

Thanks for watching

[@kimabze]

Thank you this video saved me from a bad deal. It’s so important to get two loan estimates. Your video is much appreciated❤

[@ShaheedahHill]

That's awesome, thanks for watching

[@nickromero3421]

You rock Shaheedah!

[@ShaheedahHill]

Thanks for watching!

[@artandkim]

I like you. I really do. Extremely knowledgeable.

[@ShaheedahHill]

I appreciate that, thanks for the feedback and for watching!

[@cookies4582]

Thank you for posting this Shaheeda I'm definitely not gonna do an FHA if I don't have to my credit score is low like in the 500's but I'm working on it I don't want to except my low score to qualify for a FHA loan that's like saying I have a D on my report card but at least it's passing no ma'am not me

[@ShaheedahHill]

Thanks for watching

[@teresag.tvfilipina4003]

Very interesting and informative video very clear explanation i love your voice too .

[@ShaheedahHill]

Thanks for watching!

[@trinab.9633]

Thank you so much for the information, very helpful, can you do a video for those whom are interested in purchasing a multi-unit home using FHA, thank you.

[@ShaheedahHill]

Watch my house hack video...thanks

[@zarinakhimani9149]

Thank you so much for this video! I’m so glad I came upon your channel. This is the best actionable advice I have seen for buying a home. I have a question, I know you mentioned you have to live in the home for at least 1 year before you can rent it if you have a fha loan. Is that the same case for a conventional loan too?

[@ShaheedahHill]

Yes, the same for an owner occupant loan - they require that you live there for a year.

[@honeypotqueens9865]

Awesome video

[@ShaheedahHill]

Thank you!

[@honeypotqueens9865]

@@ShaheedahHill I was wondering what area to you cover I’m thinking 🤔 about moving in a couple of years my credit our excellent but don’t have history

[@luissantos396]

Why conventional has a higher interest rate compared with FHA ? I was approved for a $ 400.000 conventional loan, 3% down, first time home buyer, score 780 .. just wanted to say your videos are really a blessing for all of us dreaming to buy a beautiful house and to close in beneficial terms. I had many questions you have answered clearly and free of charge ... I wish ai could give you at least a hug ! ... God bless you ! Keep posting ! ... I'm planning to buy a house to raise my kids and stay there for the rest of my time, don't wanna keep moving ... So u said conventional makes more sense plus I can get rid off PMI once I reach 20% equity ... I applied with 2 lenders, at what point can I request them a loan estimate ? ... Once we make an offer ?

[@ShaheedahHill]

Ask for an unofficial loan estimate now and when you go under contract get an official loan estimate. Watch this video czcams.com/video/72nm2rEXJ-M/video.html

[@luissantos396]

@@ShaheedahHill thanks !!!!!

[@maritzasantiago4741]

Hi.i owen a home already in N.Y. but will like to move to florida .what are the steps to follow it would be nice if you talk about this would be very helpful thank you so much🙏🙏🙏

[@momof4121]

Hey Shaheedah Thank you for this video! Did you do a video about refinancing a conventional vs FHA?

[@ShaheedahHill]

Here is my video on refinancing, most people will typically refinance from FHA to conventional to get rid of mortgage insurance, but it has to make sense. czcams.com/video/NNbypXxjHh4/video.html

[@SuckmyballsBish]

Well explained. Thank you!

[@ShaheedahHill]

Thanks for watching!

[@toppf294]

Very informative information only if I had knew this 3 years ago when I brought my house. Made some mistakes now trying to get from under this pmi insurance.

[@ShaheedahHill]

Get a refi quote, in this market you may have 20% equity already. Thanks for watching.

[@toppf294]

@@ShaheedahHill Thanks you

[@jaymsleedan]

Wow great video! I always thought the higher your credit score the more you would get from the lender.

[@ShaheedahHill]

If you have a higher credit they will allow you to have a higher DTI ratio, which will allow you to qualify for more. But they are looking at credit score and DTI ratio together.

[@midhunpt203]

Very informative and good presentation..... As a mortgage processor it's very helpful to me.. Thank you

[@ShaheedahHill]

Glad it was helpful!

[@tinarichardson2678]

Hi, Shaheedah. Would you mind doing a video about what I should do right after I close? Any tips? I feel like there's so much to do but in what order should I tackle things? Thanks so much.

[@ShaheedahHill]

Yes, I will soon. Congrats on the house🙂

[@calvinpn25]

Can you do some videos on second time homebuyers. Looking for a new home while still having a mortgage and trying to sell that first home.

[@TMKJG24]

Thx Ms do you have a video for lending on manufactured/modular homes

[@ShaheedahHill]

No not yet

[@TMKJG24]

@@ShaheedahHill ok that's the market im going for i will stay tuned 🙂

[@elsmith329]

I was disqualified for FHA on a 86,000 condo cause I have too much money in my savings. Thanks

[@teresag.tvfilipina4003]

I am doing marathon with your video

[@ShaheedahHill]

Thanks for watching!

[@linhdinh4450]

please do a video on the Biden administration housing tax rebates, thank you!!!

[@ShaheedahHill]

They haven't passed yet, there are no rebates.

[@marielouis3347]

❤️❤️❤️❤️

[@claudettealexander5204]

You explained well, but if a person has no buying house experience one is just going along blindly until he/ she learns. My banker told me I did not know what questions to ask him.
Thanks

[@ShaheedahHill]

Yes, exactly. Thanks why I made my Handbook and masterclass for first time homebuyers. @claudettealexander5204 Thanks for watching!
Avoid Costly Mistakes by Buying My First Time Homebuyer Masterclass and Digital Confidently Closed Handbook - bit.ly/47s4pT7

[@angeliamattingly]

We got approved for both FHA and conventional. Down payment was the same however interested wasn't. FHA it's 6.3% with conventional it was 8.6%. We thought about sticking with conventional but the lender that really wanted us said FHA would be better for us. I never had a lender want us so bad. So we did FHA. We closed on June 15, 2023. It was a construction loan. The loan amount was more too. Because I'm getting land and mobile home.

[@ShaheedahHill]

Thanks for sharing. Congratulations and best of luck!!

[@davidthomas6768]

can you do a video on streamline FHA

[@robynmoore7331]

First let me say that I am an FHA Direct Endosement Underwriter which means that I have been approved by FHA to underwrite FH A loans. 57% DTI is Highly Highly unlikely. Probably around 50% is more realistic. Credit score and reserve assets (the amount of liquid assets after loan closing) will carry a lot of weight in terms of pushing the DTI higher.

[@ShaheedahHill]

Thanks for sharing. Agreed...I think the minimum credit score and maximum DTI is misleading for a lot of people.

[@Chanel_Dior.]

I just applied today and I’m nervous. I have a 720-750 score but my dti is a little high. One of the car notes on my credit I don’t pay but it’s solely in my name, if I can prove that I don’t pay it do you think they will remove it?

[@FavDogBisquit]

​@@Chanel_Dior. any update.on clarity for your question

[@Chanel_Dior.]

@@FavDogBisquit Hello there, yes they removed it once I proved that the payments weren’t coming from my bank account and they had my parents proof of payment for the vehicle. Everything went rather quickly. I’ve been in my home for 9 months now. 😊

[@cjmatthews6096]

@@Chanel_Dior. Did you have to provide bank statements from your parents or a written statement? 🙁

[@bosslady874]

👏🏾👏🏾👏🏾👏🏾👏🏾🙏🏾👏🏾💯

[@dianaly649]

I just subscribed. Great channel, very informative.
I’m looking to buy my first home in NJ, have a good credit store of 745, enough for a down payment. But I’m only 22 y/o still in college, no paystubs and my income taxes is less than 15k/yr. What has to be the yearly income to purchase a house at ~500-600k? What should I do? Can I still apply for FHA or conventional…? Thanks

[@ShaheedahHill]

Welcome to the channel - you will likely have to wait until you have enough income. Watch my "can you afford a house video" that will explain how they calculate how much they will approve you for. Thanks for watching!

[@dianaly649]

@@ShaheedahHill Thank you!

[@NaeNae0613]

They lied to me. They said score had to 620 min and I had a 20,000 down payment. My score was way higher by closing because I had paid off several things before closing.

[@followingfist6]

Refi (into) Conventional? Hmmm, conventional is what I already have. Guess I'll stay where I'm at with this home search.

[@astrydxo]

Ahhhh why am I not getting alerts when there’s a new video?

[@ShaheedahHill]

Please hit the bell icon and the should notify you🙂 thanks for watching

[@ElleBrOw]

I NEVER get one 😩

[@TiarraMello]

Hey love, quick question. If an out of state buyers wants to live in two state, and acquire the benefits of receiving an FHA loan (being a first time home buyer) for a 1-4 unit property, how can one go about showing proof of residency, ethically? Being that you have to live in the property for 1 year, whilst also living in another state for Buisness purposes? Is this even possible to do?

[@ShaheedahHill]

For an owner occupied loan the want you in a reasonable distance to your employer... around 60 miles but in commuter states like New York it can vary. If you are a remote worker you can live anywhere.

[@TiarraMello]

@@ShaheedahHill thank you for your response. Do you have any private lenders you’d recommend?

[@rajaes123]

Thank you for the advice and I did qualify for both FHA was harder to get the seller to accept my offer but when i went conventional, it only took one time, I like FHA because it's government insured, investors make me leery. Lol

[@ShaheedahHill]

You will be fine and you will be able to get rid on PMI when you get enough equity.

[@Tricia2023]

Well I have a 740 credit score and I’m still having problems trying to buy a 195 k condo 😮 I even have 10k to put down and I’m still having issues 😮

[@paoladonfred]

I wish you were also a lender so I can use you!

[@barbarawaugh4608]

I live in Connecticut but would like to purchase a home in Florida where i hope relocate in the near future what are my options

[@ShaheedahHill]

Please watch my moving from another state video

[@MermerUniverse]

Hello, Shaheedah, I’m a silent follower of your youtube channel. I have a question, you said that you can refinance an FHA home to conventional loan to remove the PMI? Can you enlighten me regarding this and what are the conditions. Thank you.

[@ShaheedahHill]

Hi silent viewer, I did a full video on this. Here you go czcams.com/video/M-VnXMwTPMI/video.html

[@abdessamadelyajouri2836]

Do you look for houses before getting approved from a bank or get pre approval first?

[@ShaheedahHill]

Approval 1st!

[@reginalawrence6369]

What about 2nd time home buyers. That had a foreclosure?

[@ShaheedahHill]

You can buy with a FHA loan 3 years after foreclosure. @reginalawrence6369 Thank you for watching

[@chosen8031]

Whats your opinion on credit union loans ?

[@ShaheedahHill]

They can be good. I would still quote with 2 other sources as well.