Discover the power of Home Inspection in shaping your mortgage journey! ??????? Whether you're a first-time homebuyer or a seasoned pro, understanding the impact of issues on your home inspection is crucial. ????
This video helps to differentiate between major concerns, negotiating tools, and potential roadblocks.
??Mistakes To Avoid When Purchasing a Home: https://youtu.be/MEdbgxIpa3M
#HomeInspection101 #MortgageWisdom #RealEstateSuccess #SmartHomebuying #FinancialFitness #PropertyGoals #InspectionImpact #DreamHomeReality #InvestWithConfidence #HoustonMortgage #TexasMortgage #HTXMTG
For more info on how we can provide you with a successful home purchase, refinance or home equity loan (HELOC) mortgage experience, please visit our website: http://www.HTXMTG.com=Edward Foy: H Mortgage281-304-6353efoy@HTXMTG.comhttps://www.HTXMTG.com/LTCompetitive Pricing, Quick Approvals, Close On TimeNMLS 310856 / 218762=Subscribe to navigate the homebuying, refinance, or equity loan (HELOC) process with ease: https://www.YouTube.com/@HOMEQNET?sub_confirmation=1
Apply Now: https://www.HTXMTG.com/App
Reviews: https://www.HTXMTG.com/ReviewsRecommended Playlists:Mortgage Tips:https://www.youtube.com/playlist?list=PLTYsNqndW-uRJwDLF45ZiIMJu6s5JpBKV
Mortgage Client Testimonials & Reviews:https://www.youtube.com/playlist?list=PLTYsNqndW-uQ33NpaACeUnvYDnHj0teDb
Videos of Interest:Tap Into Your Home Equity with a Home Equity Line Of Credit (HELOC)https://www.youtube.com/watch?v=4CRXq2CF3aU
The Best Recommendations For Purchasing New Construction From A Builderhttps://www.youtube.com/watch?v=PgkPN_-Quak
Getting Your Mortgage Pre-Approvalhttps://www.youtube.com/watch?v=NCKuNG7lK00=About The Home Equity Network, H Mortgage.We pride ourselves on guiding individuals through the intricate world of real estate & mortgage solutions. Our channel showcases satisfied clients who have successfully navigated the homebuying, refinance, and home equity loan (HELOC) process with our assistance. From insights on purchasing to understanding the nuances of VA Mortgages, our videos aim to educate and empower.With content that resonates with both first-time homebuyers and seasoned investors, we believe in the adage, 'Don't Wait to Buy Real Estate, Buy Real Estate & Wait.'
We Provide Real Estate & Mortgage SolutionsSubscribe: https://www.YouTube.com/@HOMEQNET?sub_confirmation=1=Disclaimer: We do not accept any liability for any loss or damage which is incurred as a result of listening to any of our publications. For all videos on my channel: This information is for general & educational purposes only. Always consult with an attorney, CPA, or financial professional for advice based on your specific situation.Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use.© The Home Equity Network, H Mortgage.
Are you curious about the future of mortgage rates?With so many interest rate increases over the last few years, who isn’t?We've analyzed the market trends and predictions to bring you insight into how future mortgage interest rate drops can and will more than likely, impact the housing market, affordability and inflation.Before we dive into it, click the like button for me and, if you haven’t already, subscribe to the YouTube channel so I can keep providing you with valuable real estate and mortgage insight.Thanks for supporting!
Let’s start with the positives:Affordability: Lower mortgage rates will result in reduced interest payments for homeowners, making homeownership more affordable and accessible to a broader range of potential buyers.Increased Demand: Lower mortgage interest rates are likely to lead to a surge in housing demand as more people are inclined to purchase properties, potentially driving up the demand for homes. This is great news for homeowners.
Savings: Existing Homeowners can save money by refinancing their mortgages at the lower rates, which can free up extra cash for other expenses or investments.
Upgrading: with the combined benefit in increased home values and lower mortgage interest rates, existing homeowners may find it easier to upgrade to a more desirable property, allowing them to live in a larger, more comfortable residence without sacrificing financial stability.Here is where things get a little trickyYou may have noticed that most of these benefits apply to existing homeowners.This is important because most people who are planning on purchasing a home but waiting for mortgage interest rates to drop may be overlooking the Very important factor of DEMAND.Right now, a lot of people are sitting on the sidelines, waiting for rates to drop and home prices are continuing to rise even our current rate environment, with interest higher than they have been in 20 years.This is due to low inventory.
IF mortgage interest rates drop, you qualify for a higher purchase price, to spend more, but not necessarily to spend more to get more house because WHEN home prices rise, you’re simply going to pay more, see the difference?Just imagine how much and how quickly home prices will increase with the demand multiplied by a drop in mortgage rates.Also, notice my emphasis on “IF” vs “WHEN”.
There is a possibility, even a likelihood that interest rates may drop.7-8% mortgage rates could be the new normal or mortgage rates could go up.But history shows us that home prices WILL rise.Even just a 1 or 2% drop in interest rates can spark a flood of demand on an already low supply of inventory, which could mean that the $500k home that you were thinking about purchasing increases to $700k or more.If you’re questioning whether or not this can happen, just google 2021 housing data.To sums things up: if you’re thinking about purchasing and can afford to purchase a home now, don’t try to time the market, purchase your home.If or when mortgage rates drop, you can refinance but I promise you that you will not be able to pay a 2023 home price in 2024 and beyond.Contact me with any questions or for a no cost mortgage quote.like and share this video.
Also, get in on the conversation, Comment below with your thoughts.
#mortgagerates #reductions #forecasting #economy #predictions #housingmarket #mortgageindustry #2024 #interestrates #economicforecast #homebuyers #realestate #housingforecast #mortgage #marketprojection
Here, we shed light on the often underestimated but important homeownership step that can have serious consequences if neglected. Join us as we delve into the hidden dangers of overlooking this vital step and learn how it can impact your beloved home.
Don't forget to subscribe to our channel and hit the bell icon to stay updated on important homeownership steps, tips and tricks!
When it comes to safeguarding your investment, understanding the silent threats that lurk in the shadows is imperative.Neglecting this particular task not only jeopardizes the functionality and lifespan of your home but can also put your family's safety at risk.
Throughout this video, we uncover the lesser-known dangers that result from disregarding this crucial responsibility. From plumbing nightmares to electrical hazards and potentially spiraling repair costs, these hidden consequences can quickly escalate if left unchecked.
But worry not! We're here to guide you through the process, providing invaluable insights into effectively tackling this vital homeownership step. Our expert advice and practical solutions will empower you to mitigate risks, save money, and foster a safe and nurturing environment for you and your loved ones.
Stay tuned till the end, as we share bonus tips and actionable advice that will take your homeownership journey to the next level.
Remember, your home deserves the utmost care and attention it needs. Don't let the hidden dangers take you by surprise. Watch our video now and take a proactive step towards securing a prosperous future for you and your home.
#homeownership #realestate #homeowners #propertymaintenance #homeimprovement #homeownershipgoals #homeownersassociation #propertyownership #importanthomeownershipsteps #homeownershipadvice #propertymanagement #homeownershiptips #homeownershipissues #propertyownershipmatters #homeownersresponsibilities #homeownership101
In this comprehensive guide, we're demystifying the secrets and complexities surrounding VA Mortgages to empower homebuyers like you.Join us as we decode the intricacies of VA Mortgages and demystifying the process, ensuring you have all the information you need to make confident decisions.From eligibility requirements to navigating the application process, we leave no stone unturned.Our expert team of mortgage professionals share valuable insights, tips, and advice to help you understand the benefits and opportunities available with VA Mortgages. Whether you're a first-time homebuyer or looking to refinance, this ultimate guide will equip homebuyers with the knowledge and resources necessary to achieve your homeownership dreams.Don't miss out on this invaluable resource – watch now!
#VAloans #firsttimehomebuyer #veteransaffairs #VAhomeloans #VAloanprogram #vahomebuyers #HoustonMortgage #TexasMortgage #HTXMTG
2021 Mortgage data shows that the borrowers saved an average of over $9400 in interest and fees by obtaining a wholesale mortgage through a mortgage broker, compared to retail lending options
Data Source: https://bit.ly/3bl33Bs*Comparisons based on conventional conforming 30-year fixed loans for debt-to income ratio 41-45% between top 10 wholesalers and top 10 nonbank retailers; lowincome defined as less than $52,200; interest savings assumes full term of loan.
Title: Retail vs Wholesale Mortgage, Save Thousands | HTXMTG
For more info on how we can provide you with an successful home purchase, refinance or home equity loan (HELOC) mortgage experience, please visit our website: http://www.HTXMTG.com
#RetailVsWholesaleMortgage #MortgageChoice #MortgageRates #WholesaleMortgage #RetailMortgage #HTXMTG
Even if you were to find your dream home, a home that checks all the boxes, chances are, that six months from now, you’d have a list of things that you could improve
That’s how setting goals works, you always want to improve, right?
When it comes to buying a new home, as difficult as it might be, you want to try to look at things objectively.If you can find 70-80% of what you’re looking for, that’s a win, especially if you can start with a profit an buy your home below market.
Even when interest rates were in the 2-3% range, there were plenty of people waiting for rates to get lower.They waited, not only did rates rise, but so did home prices.I’ve had many clients that who have tried to time the market and ended up having to significantly compromise due to rising home prices.
One of the primary factors in your home search should be to establish and build equityThis can provide you with more leverage to profit from rising home prices to level up and buy your dream home.
My previous video on historically rising home prices, increasing 57% in the last 5 years is linked belowWhen you own a home, you will typically profit from rising home prices, when you don’t, you’re paying rising rent and will have to pay more for a home or possibly get priced out of the market.
Contact me for information on how you can profit from rising home prices to buy your dream home.
#PofitFromRisingHomePrices #BuyYourDreamHome #HomeEquity #HoustonMortgage #TexasMortgage #HTXMTG
Avoiding common mistakes is crucial for a smooth and successful home buying experience.
When it comes to buying your first home, it's essential to do thorough research and be well-prepared. Many fall into the trap of not doing their due diligence when buying their first home, resulting in regret and unforeseen issues down the line.
One of the more prevalent mistakes is not establishing a realistic budget before embarking on the home-buying journey. We delve into the importance of carefully assessing your financial situation, considering your long-term goals, and seeking professional guidance. By setting a sensible budget, you'll ensure that you can comfortably afford buying your new home without putting excessive strain on your finances.
Another common mistake made when buying a first home is neglecting to get pre-approved for a mortgage. Mortgage pre-approval benefits you in the home-buying process. Understanding your buying power allows you to narrow down your options and make informed decisions, saving you time and guiding your search in the right direction. I also shed light on the potential risks of not hiring a qualified real estate agent.
One of the biggest avoidable mistakes, when buying a first home, is underestimating the complexities involved in buying a home and attempting to tackle it alone. I stress the benefits of working with experienced professionals who can navigate legalities, negotiate on your behalf, and provide invaluable insights.
Ultimately, buying your first home should be a thrilling and rewarding experience. By being aware of the common, avoidable mistakes outlined here, you'll be able to navigate the process confidently, avoid mistakes and unnecessary stress. Together, let's ensure that your first home purchase is a positive, memorable milestone in your life.
#mistakeswhenbuyignhome #homebuyingmistakes #realestatefails #homebuyingtips #htxmtg #homebuyingadvice #avoidhomebuyingmistakes #propertyinvesting #homebuyingprocess #realestateadvice #firsttimehomebuyer #homebuyingguide #homebuying101 #realestatehelp #homeownership #avoidcommonmistakes #realestatetips #househunting #homebuyingmistakestoavoid #homesearch #propertybuyer
For more info on how we can provide you with a successful home purchase, refinance or home equity loan (HELOC) mortgage experience, please visit our website: http://www.HTXMTG.com = Edward Foy: H Mortgage 281-304-6353 efoy@HTXMTG.com https://www.HTXMTG.com/LT Competitive Pricing, Quick Approvals, Close On Time NMLS 310856 / 218762 = Subscribe to navigate the homebuying, refinance, or equity loan (HELOC) process with ease: https://www.YouTube.com/@HOMEQNET?sub_confirmation=1
Reviews: https://www.HTXMTG.com/Reviews Recommended Playlists: Mortgage Tips: https://www.youtube.com/playlist?list=PLTYsNqndW-uRJwDLF45ZiIMJu6s5JpBKV
Mortgage Client Testimonials & Reviews: https://www.youtube.com/playlist?list=PLTYsNqndW-uQ33NpaACeUnvYDnHj0teDb
Videos of Interest: Tap Into Your Home Equity with a Home Equity Line Of Credit (HELOC) https://www.youtube.com/watch?v=4CRXq2CF3aU
The Best Recommendations For Purchasing New Construction From A Builder https://www.youtube.com/watch?v=PgkPN_-Quak
Getting Your Mortgage Pre-Approval https://www.youtube.com/watch?v=NCKuNG7lK00 = About The Home Equity Network, H Mortgage. We pride ourselves on guiding individuals through the intricate world of real estate & mortgage solutions. Our channel showcases satisfied clients who have successfully navigated the homebuying, refinance, and home equity loan (HELOC) process with our assistance. From insights on purchasing to understanding the nuances of VA Mortgages, our videos aim to educate and empower. With content that resonates with both first-time homebuyers and seasoned investors, we believe in the adage, 'Don't Wait to Buy Real Estate, Buy Real Estate & Wait.'
We Provide Real Estate & Mortgage Solutions Subscribe: https://www.YouTube.com/@HOMEQNET?sub_confirmation=1 = Disclaimer: We do not accept any liability for any loss or damage which is incurred as a result of listening to any of our publications. For all videos on my channel: This information is for general & educational purposes only. Always consult with an attorney, CPA, or financial professional for advice based on your specific situation. Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use. © The Home Equity Network, H Mortgage.
I often discuss the importance of comparing mortgage proposals before getting into contract.
An even higher level of importance is the timing of comparing your mortgage proposals.
Mortgage pricing can change multiple times daily, not to mention that the variables that compile your pricing (credit, assets, debt to income ration, etc.) are also constantly updating and changing.
The importance of comparing your mortgage proposals at the same time cannot be overstated.
I recently had a client get a pre-approval from me at the start of the home search.
Approximately 45 days had passed, she found a home, executed a contract then decided to get additional mortgage comparisons.
We had her pre-approved for an FHA mortgage at the contract price point, due to DTI limitations.
Another lender offered a conventional mortgage comparison that she preferred.
Had I not reached out to follow up on the status of her file, she was ready to proceed with this other lender.
Since she overlooked the importance of comparing comparisons at the same time, there were a few issues
1. FHA, VA, USA, Fannie Mae & Freddie Mac guidelines are not lender specific, meaning, if you meet the criteria, you meet the criteria. So unless a lender has Overlays (additional requirements that they place on qualifying) the approval should be universal.
2. Because some time had passed since we had updated and reviewed this specifics of her file, multiple things could've have changed
3. Even if everything had remained the same, simply comparing mortgage proposals on different days and not at the same time, can be lie comparing apples with oranges, let alone comparing mortgage proposals from different lenders.
This further highlights the importance of comparing mortgage proposals at the same time.
The only way that this other lender could possibly have her approved for a conventional mortgage at this price point, would be if something had changed OR if they were using inaccurate information.
After comparing what each lender was using to compile their proposals, using the mortgage application & fee sheets, I realized that our borrower had significantly paid down a credit card balance, reducing her monthly payment by over $300, significantly reducing her Debt To Income Ratio.
Not only did this now make it possible to get the conventional mortgage approval, but I was also beating the other mortgage proposals by almost 1% on the interest rate.
She had already ordered her appraisal with the competing lender.
Luckily, the appraisal had not yet been completed because conventional mortgages don't require that the lender transfer their appraisal, so she would've lost that money.
Had I not reached out to follow up, she would've thought that she had gotten a better deal and would've ended up spending tens of thousands more.
This could've easily been avoided had she simply made me aware of the credit card having been paid down, we would've ordered a credit supplement without having to re-pull credit and would've updated the conventional mortgage comparison.
Investing in real estate can be stressful yet rewarding.
understanding the importance of comparing your mortgage proposals at the same time can help avoid stress and significantly increase your reward.
Comment with your thoughts, like & share this video with someone that it might help and don't forget to click the bell and subscribe for more real estate & mortgage tips.
#ComparingMortgageProposalsAtTheSameTime #ComparingMortgageProposals #MortgageComparison #HoustonMortgage #TexasMortgage #TexasMortgageBroker
We named our company The Home Equity Network because:
We wanted to illustrate our goal in helping all clients establish and build equity in real estate..
And to show we're a resource for all things real estate & mortgage related.
We provide competitive pricing, quick approvals and get you closed ahead of schedule.
Beyond that, we cultivate relationships with professionals in just about all things real estate related.
When I say all things real estate, I Mean ALL THINGS REAL ESTATE!
Looking for home & auto insurance, a real estate attorney, an electrician, a new refrigerator, to remodel your kitchen or mount some TVs, we have vetted professionals in just about every field to help you with all things real estate.
Life keeps you busy and that's why we not only make it a point to streamline the mortgage process, but also provide options & comparisons for just about all things real estate related.
Contact me with any questions
#AllThingsRealEstate #Contractors #RealEstateNetwork #HoustonTexasMortgageBroker #HoustonMortgage #TexasMortgage
You may have heard the myth that a home inspection isn't needed, but let me tell you, that's not true.
A home inspection is crucial and absolutely needed to help uncover potential issues that you might not be aware of.
These issues could cost you a lot of money down the line, so it's better to address them before you move in.
A home inspection can also give you a better understanding of the home's condition and help you negotiate a better price.
It's a win-win situation for both you and the seller.
A very popular misconception is that there is no need for a home inspection when you are building a home but nothing could be further from the truth.
You should actually get multiple inspections throughout the building process, to ensure that the builder isn't "cutting corners" to reduce their bottom line, which is happening more and more these days.
Purchasing real estate is a big investment and most people want to save as much as possible.
Trust me when I tell you that you totally save much more in the long run by getting a home inspection, and in some cases, avoid purchasing a "money pit".
A home inspection is a wise investment that can save you a lot of headaches and money in the long run.
If you found this helpful, don't forget to like, share, and subscribe for more real estate & mortgage tips.
#HomeBuyingMyths #HomeInspection #HoustonMortgage #TexasMortgageBroker #MortgageBroker #HoustonRealtor
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