I end up rewatching your videos because they are THAT good! When you’re researching as a first time buyer, you’re constantly learning new things. Coming back to your videos a 2nd time confirms how valuable the info is you’re sharing. Keep it up Javier!! 👍🏾👍🏾👍🏾
So helpful! The banks make it seem like it just free money you qualify for since your credit score may be good and you are a first time homebuyer. I’m glad I found this video.
Good glad an agent is honest about the down payment assistance situation. Also if you have any Southern California buyers or sellers I’d love to pay a referral fee.
I just bought a home with down payment assistance. I would have never saved the money for a downpayment otherwise and paying rent is a money drain that is frankly not worth it. When your rent keeps going up buying starts looking good.
@@JavyVidana The mortgage and escrow will be a little cheaper than my current rent but the lease is up so rent would have gone up next month. I close on Monday!! The interest rate is 4.375 % I am using a first time home buyers program Georgia Dream. Got $15,000 down payment assistance. I hope I didn't make a big mistake, but I if you don't take a chance you have nobody to blame but yourself right? Your videos were a big help and I learned a lot of do's ad don'ts. Keep up the good work!
Thanks Javier. This makes a lot of sense to me. I recently bought my first house and did use down payment assistance and I have been second guessing my decision. In my case, rent kept going up and my mortgage payment, even with downpayment assistance is only around $150 more than I was paying for rent. Also, my interest rate for both my mortgage and my DPA are 4.25% and the DPA accounts for $79 of my monthly payment. That said, my plan is to pay the DPA off in less than two years and lower my payments so I can then apply the difference towards paying down my principal faster. It made sense in my case because of the high cost of rent and relatively low interest rate.
Don't second guess yourself! That is a solid interest rate for DPA. Good thing you were able to get out of paying someone else's mortgage and now you are paying your own!
Javier Vidana ah good gravy thank you so much they were so helpful!!! We’re so very grateful! Honestly I’m not too sure 😅 every question we’ve had you’ve made a video to answer it 😂 so thank you!!
Thanks so much for the tips! We were looking into a program but i ran across the crazy interest too and was so confused lol because everyone told me that we should go that route, but now it makes sense! and realized it's just not the way for us. You're doing a good thing by educating people! I'm seriously so appreciative, and i'm about to watch more of your videos so we can prepare ourselves for what is ahead. Thank you!
thats how im getting a house. i pulled 13k from my retirement to pay off all my credit debt, paid my truck down to owing just $100 so they dont close the account and drop my credit score, and jump start my savings to have 8k in my bank account to use DPA. they love me.
Its interesting to learn as much as possible about the buying process. I'd want to save up as much as possible! Don't want to rely on others too much, look what happened in 2008
Great video! We are considering moving to Arizona from California and the DPA was something I came across while doing research. Can you consider possibly doing a video on USDA loans please?
That's the situation I'm in. My rent will go up 1500 in flag. Move to phoenix. Paying that or less is better. We have to get out of our snowy city. And get onto more money
This is great information on down payment!! Do you have a video about closing cost that is expected in addition to the down payment. We where told closing cost is also typically 3%
The home in 5 program seem to only be in one state is there a program similar to that in Florida I completed the first time homebuyer class and I'm looking for funding
Would it make sense to use down payment assistance for a duplex that I will use as an investment property where I rent out one side and live in the other?
Good information for new home buyers. Do you have information about other fees a buyer is charged and how to avoid it or get a better price? For example escrow or inspections.
In Upstate NY the Mortgage Match program is a grant that doesn’t need to be paid back. You just have to live in the house for 5 years. I’m confused on what DPA programs your talking about?
Oh,I just learned about this program today,and lender did say we can refinance later but can't move for 2 yrs.She didn't mention paying it back. So,if we stay for 3 yrs we don't have to pay it back, she did say interest will be 5%
I've never bought a home. I'm currently in a rental in need of a lot of work. As a result, my utility bills are astronomical. We also live in an unsafe neighborhood. The house we currently live in has one bathroom on the second floor and my son is in a wheelchair and has to be carried to take baths and showers (he's 10). Would this be reason enough to use down payment assistance to move? Would the utility savings make up for some of the difference in cost? Is it worth it if we find an affordable accessible home to use this?
alexa fernandez depends on how the taxes are? In my area it’s about $4000-$7000 depending on the taxes and if it has an HOA. I’ve known NJ to have higher taxes so it might be $7000-10,000.
Hablas español? Puedes hacer un video en español? Tú contenido es muy bueno pero tengo amigos que no hablan inglés y me gustaría compartir tus videos con ellos .
Hello I’m in St. Louis Missouri looking too buy a home worth $200,000 without an down payment assistance and looking too put a down payment of $10,000 - $20,000 .. is there a way of making that possible without having a super high interest rate , instead of putting 20% down which is $40,000??
FREE - DOWN PAYMENT and CLOSING COST ASSISTANCE GRANTS WITH NO STRINGS ATTACHED. We are a 501(c) 3 NON-PROFIT ORGANIZATION that GIFTS Grant Money that YOU NEVER HAVE TO PAY BACK. Unlike Government Assistance programs, we do NOT place 2nd Mortgages or Liens against your property. You will OWN your home 100% at closing. Call 508-686-7714 to speak with a Certified Grant Specialist today. If you are gainfully employed with W2 income and have a 580 Credit Score or better, then we can help you. Got Student Loans? We’ve got a Grant program for you too! It's FREE TO APPLY - No Application Fees. NO income restrictions. The program is NOT limited to first time home buyers. You can buy 2nd homes and investment properties up to 4 units as long as they are owner-occupied. We have MANY happy customers who thought home ownership was impossible. Call 508-686-7714 to speak with a Certified Grant Specialist and let us help you get your dream home today.
Javier but what if my downpayment interest rate is 0% is it still worth it? My county offers a 0% interest rate up to 20% of the purchase price not to exceeded a purchase price of 479k.
It used to be a no brainer, now you have to weight the pros and cons. That higher interest can be very costly especially over a long period of time. I think now DPA is okay for short term homes (3-5 years).
I end up rewatching your videos because they are THAT good! When you’re researching as a first time buyer, you’re constantly learning new things. Coming back to your videos a 2nd time confirms how valuable the info is you’re sharing. Keep it up Javier!! 👍🏾👍🏾👍🏾
On The Go with Miko I definitely agree
So helpful! The banks make it seem like it just free money you qualify for since your credit score may be good and you are a first time homebuyer. I’m glad I found this video.
So much value man! You’re right, $12,000 is so much money!
Good glad an agent is honest about the down payment assistance situation.
Also if you have any Southern California buyers or sellers I’d love to pay a referral fee.
I just bought a home with down payment assistance. I would have never saved the money for a downpayment otherwise and paying rent is a money drain that is frankly not worth it. When your rent keeps going up buying starts looking good.
That makes sense, did the payment come about to the same or did it go up? Congrats on the purchase!
@@JavyVidana The mortgage and escrow will be a little cheaper than my current rent but the lease is up so rent would have gone up next month. I close on Monday!! The interest rate is 4.375 % I am using a first time home buyers program Georgia Dream. Got $15,000 down payment assistance. I hope I didn't make a big mistake, but I if you don't take a chance you have nobody to blame but yourself right? Your videos were a big help and I learned a lot of do's ad don'ts. Keep up the good work!
Dang that’s a great program! Nothing like the one here. Congrats!!
@@JavyVidana Got my keys today!
@@Romancefantasy congrats
Thanks Javier. This makes a lot of sense to me. I recently bought my first house and did use down payment assistance and I have been second guessing my decision. In my case, rent kept going up and my mortgage payment, even with downpayment assistance is only around $150 more than I was paying for rent. Also, my interest rate for both my mortgage and my DPA are 4.25% and the DPA accounts for $79 of my monthly payment. That said, my plan is to pay the DPA off in less than two years and lower my payments so I can then apply the difference towards paying down my principal faster. It made sense in my case because of the high cost of rent and relatively low interest rate.
Don't second guess yourself! That is a solid interest rate for DPA. Good thing you were able to get out of paying someone else's mortgage and now you are paying your own!
Thank you for your unbiased honest professional advice. You just gained a subscriber
I knew it! I won’t be using down payment assistance. I’m going in knowing exactly what I want and don’t want
I feel like the last two videos were so specific to me 😭💕 thank you!
It’s because they were for you! 😭 . Hope they helped you, do you have any any suggestions for any topics?
Javier Vidana ah good gravy thank you so much they were so helpful!!! We’re so very grateful! Honestly I’m not too sure 😅 every question we’ve had you’ve made a video to answer it 😂 so thank you!!
@@JavyVidana buying a house after bankruptcy.
Mind reader haha I dont want to trust lenders, only youtubers
I also re watch your videos, Great professionalism and content as usual.
Thanks so much for the tips! We were looking into a program but i ran across the crazy interest too and was so confused lol because everyone told me that we should go that route, but now it makes sense! and realized it's just not the way for us. You're doing a good thing by educating people! I'm seriously so appreciative, and i'm about to watch more of your videos so we can prepare ourselves for what is ahead. Thank you!
thats how im getting a house. i pulled 13k from my retirement to pay off all my credit debt, paid my truck down to owing just $100 so they dont close the account and drop my credit score, and jump start my savings to have 8k in my bank account to use DPA. they love me.
Its interesting to learn as much as possible about the buying process. I'd want to save up as much as possible! Don't want to rely on others too much, look what happened in 2008
You are awesome, thank you for all this information 😊
Wish all people were as honest as this man, come to Salt Lake City UT and help me find a home to buy!! Lol
Great video! We are considering moving to Arizona from California and the DPA was something I came across while doing research. Can you consider possibly doing a video on USDA loans please?
HeyJackieee04 if you need an agent here in SoCal let me know 😁
can you do a video about The FHA 203K renovation loan or the fannie mae homestyle loan
This is on the list! However, I have to collaborate with someone since I haven’t done many of them.
That would be awesome, we are about to embark on the 203k journey.
Nice Zelda poster👍
That's the situation I'm in. My rent will go up 1500 in flag. Move to phoenix. Paying that or less is better. We have to get out of our snowy city. And get onto more money
Javier great job ... great to see Fannie Mae buying DPA loans again
This is great information on down payment!! Do you have a video about closing cost that is expected in addition to the down payment. We where told closing cost is also typically 3%
Can you do a video on DTI and how to improve this during the home buying process to get more favorable loan?
On The Go with Miko try to pay down the credit cards with the highest minimum monthly payment that should help your DTi
You answer my question Javier🙂
Thanks for this video
Hi Javier, I just moved to Phoenix, AZ. I liked what you said here. I would love to chat. I will be looking to buy a house in 12 Months.
The home in 5 program seem to only be in one state is there a program similar to that in Florida I completed the first time homebuyer class and I'm looking for funding
Would it make sense to use down payment assistance for a duplex that I will use as an investment property where I rent out one side and live in the other?
😭 I think I need to wait this one out a little bit to save up for a down payment myself.
Good luck!
Good information for new home buyers. Do you have information about other fees a buyer is charged and how to avoid it or get a better price? For example escrow or inspections.
I’ve broken down the costs in several videos, but never about which ones are shoppable. Great idea!
Yes, I saw it next.
What about first time buyers with housing assistance? The home ownership program?
Thanks for great content! What do you think changed in 2020?
Separate subject, how do I purchase a home when the owner passed away with no family or relatives or next of kin?
Thank you sir
In Upstate NY the Mortgage Match program
is a grant that doesn’t need to be paid back. You just have to live in the house for 5 years. I’m confused on what DPA programs your talking about?
Great video
Hi Javier. Thanks for your videos. I'm trying to use DPA. It is worth getting DPA now in 2022?
If a down payment on fha loan is being gifted does it matter how the person gifting requires the money
You might get a better rate with a personal loan. I think the rates are a lot lower now with Corona.
I lost my home during the recession in 08-09. I'm planning on purchasing a home but don't know how the foreclosure ten years ago will affect me
2 years for FHA, 4 years for Conv. You’re fine!
@@JavyVidana thank you for your insightful videos
I didn't know that you had to pay back the down payment assistance.
Some programs you do, but it;s only if you sell your house before 3 years.It's forgived after 3 years
Oh,I just learned about this program today,and lender did say we can refinance later but can't move for 2 yrs.She didn't mention paying it back.
So,if we stay for 3 yrs we don't have to pay it back, she did say interest will be 5%
I'm confused. DPA has to be paid back, and the mortgage payment could potentially have a high interest rate? What if it's an FHA loan?
I am looking to buy a condominium in New Jersey. Please keep making videos and sharing Thank you for your help.
I been thinking of buying a house in Vegas this is why I’m watching this vid lol any tips for buyi in Vegas ?
Call @andrewfinney
I've never bought a home. I'm currently in a rental in need of a lot of work. As a result, my utility bills are astronomical. We also live in an unsafe neighborhood. The house we currently live in has one bathroom on the second floor and my son is in a wheelchair and has to be carried to take baths and showers (he's 10). Would this be reason enough to use down payment assistance to move? Would the utility savings make up for some of the difference in cost? Is it worth it if we find an affordable accessible home to use this?
Anna Fang I’d say yeah, only if you can afford the payments and you make sure to buy in an area you feel ore comfortable.
When is the next market crash bro!?
we’re heading there now
Good morning Javier I would like to contact you
In 200k house how much will be the closing cost no include the down payment? ...planning to buy in ny or nj
alexa fernandez depends on how the taxes are? In my area it’s about $4000-$7000 depending on the taxes and if it has an HOA. I’ve known NJ to have higher taxes so it might be $7000-10,000.
Hey brother, would your opinion change on DPA in 2020? Lol how do you feel about it now?
Would you advise me to use DPA? I have a home loan with an interest rate of 3.375% and the interest rate on my DPA is 2.5%
So if the property is an investment property then do down payment assistance 🤔
Hablas español? Puedes hacer un video en español? Tú contenido es muy bueno pero tengo amigos que no hablan inglés y me gustaría compartir tus videos con ellos .
This didn’t age well 😂
Not at all! I wish I could go back in time and tell myself what was coming!
@@JavyVidana why didn't it age well?
Hello I’m in St. Louis Missouri looking too buy a home worth $200,000 without an down payment assistance and looking too put a down payment of $10,000 - $20,000 .. is there a way of making that possible without having a super high interest rate , instead of putting 20% down which is $40,000??
Hi I'm looking for to buy a house in Prescott valley can you Suggest a lender That does FHA loans for that area
what do you think about Home Advantage Program
Where can I apply for a mortage loan no down payment? alot of banks wants 20%..
In not 1st time buyer
Plus under 150k loan
Any local Mortgage Banker can help you. Talk to a Realtor and they will recommend you to one.
FREE - DOWN PAYMENT and CLOSING COST ASSISTANCE GRANTS WITH NO STRINGS ATTACHED.
We are a 501(c) 3 NON-PROFIT ORGANIZATION that GIFTS Grant Money that YOU NEVER HAVE TO PAY BACK. Unlike Government Assistance programs, we do NOT place 2nd Mortgages or Liens against your property. You will OWN your home 100% at closing. Call 508-686-7714 to speak with a Certified Grant Specialist today. If you are gainfully employed with W2 income and have a 580 Credit Score or better, then we can help you. Got Student Loans? We’ve got a Grant program for you too! It's FREE TO APPLY - No Application Fees. NO income restrictions. The program is NOT limited to first time home buyers. You can buy 2nd homes and investment properties up to 4 units as long as they are owner-occupied. We have MANY happy customers who thought home ownership was impossible. Call 508-686-7714 to speak with a Certified Grant Specialist and let us help you get your dream home today.
Javier but what if my downpayment interest rate is 0% is it still worth it? My county offers a 0% interest rate up to 20% of the purchase price not to exceeded a purchase price of 479k.
Interested in this as well
How many people could be on the loan 🤔🤔🤔
Is this the same in California??
Do you still consider DPA negative even if it’s forgivable?
It used to be a no brainer, now you have to weight the pros and cons. That higher interest can be very costly especially over a long period of time. I think now DPA is okay for short term homes (3-5 years).
Javier Vidana I gotcha. Thank you so much for actually caring to respond back! Appreciate ya
I got an offer to get down payment assistance with a interest rate of 3.25