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't I have a question regading the title company, You mentiones if I select the Title company that my lender suggested, you said that the amount on the Loan estimate can't change more than 10%, Can you elaborate?, Will this means, that the amount that my lender put on the Loan estimate for Title fees can't change more than 10% when that Title cpmpany quote me?

But why would the seller give you that credit. Are you paying them more than the price you agreed upon and that extra money get forwarded to back to the buyer? Like, i dont understand how this benefits the seller.

I’m planning to talk to my local credit union for what the process to get a mortgage is, or what I can do in my situation. I want to get their feedback and was wondering if there’s a way to work with you as well? What do you think?

Great video, Kyle.............

I have already finalized my loan. Now I just come here to feel calm. lol

Kyle, Truly God bless you for this educational information. My parents and I are in a difficult time as many other people are , regarding if is worth selling and if it is where can we go about the whole process, not to mention where to chose a down to earth affordable place in Miami or near by this city. Living in Florida is home, but truly sad is full of people that don’t care about those of us having dreams so they basically concentrate on customer with great credit scores and plenty of money to spend. Would you be so kind to shine a light as to where can we inquire, if our situation fits an outcome for a solution to sell and buy? Thank you in advance Kyle.

I have a 820 credit score and all I can afford is a shack in California 🙂

It beggars belief that these wire fraud scams still exist. How have all the related financial parties, in particular the title companies considering what they’re being paid, not figured out a way to do this in a way that all but eliminates any opening for this fraud to take place. When it came to send my down payment, I was astounded at how archaic it seemed and doubly so when I cracked a joke and the title agent said that they deal with attempted wire fraud scams all the time and actually had a client scammed the previous week! Given all the financial innovations over the last twenty years, this seems an eminently solvable problem, so why hasn’t it been?

Our family member went to school and pulled almost 130K for 4 years. Lenders have 30 year contracts and won't even talk to you unless it seems you are a half a millionare. Credit score is like 750+ for both co-borrowers. Almost all the debt was forgiven. Yet cant get a pre approval.

Very interesting. Are you taking into account that the 3% down has a $470 extra monthly payment compared to 20% down (comes out to $56,400 over 10 years if you save it). I know most people don’t have the will power to “save” it, but something think about. We are planning to purchase our first home in April and have been doing a ton of research to prepare. Love your videos man!

Excellent video Kyle. This is going into my reference file.

well my 765 credit score only gets me 200,000 dollar loan, why? because my income is low, having a good credit doesnt mean anything to lenders, they want you to have a 200,000 dollar income

$1500 in 10/220, now $1700. Will move out and down size. For no reason other than we can't afford this house and we NEED equity to buy the next place so, make that a tiny home place. Just a box inside of a Chalked circle.

Yes my monthly payment went up after a few years, stayed the same, then went up again for another year or so and then it went down a couple hundred but it’s still higher than when we bought this house 8 years ago.

He is 100% right. 2018, when i bought my house, my payment including escrow was $2100 today in 2024 im now paying $2800.

Great video!! Thank you so much! Finally a true teacher!

Bought in 2021 2021 1,527.72 2022 1,561.27 2023 1,547.79 2024 1,854.02 I have a shortage of about 2.5k. In 2022 the property tax went up to 4.7k. I called the city and they explained the reason for the increase and they recommended to file a special property tax refund. I got some of my money back. This year (2024) the increase is driven by my home insurance which went up by 1k. I called my insurance agent to either look for a new insurance with less premium or lower my current dues. Thankfully, I had my roof replaced in 2023 by the insurance and they gave me a discount of 1k for that reason. Insurance companies are technically trying to protect their nest since our weather is WILD in MN. 😅 The lesson here is: Ask around why you got the increase!!!

29:09 I hear retirement and financial planner channels talk about an $18k per individual per year gift tax exemption. The $13.6M is more likely related to estate tax.

Me and my mom just veiwed a house we were looking at for 1 week and we both looked at said house more than 3 times a day. We are in LOVE. Any tips to help her get over the stress and anxiety. Also it would be my first time having my own room so im excited. But we would have to buy water softner, fridge and washer, and dryer. Is that a deal breaker, or should it be?

12:08 Don’t you see how this quickly becomes unsustainable, and how we are all being scammed? Both owners and renters? This is absurd.

Can you offer an explanation as to why we were told for years this exact thing? That one of the benefits of home ownership was a fixed monthly payment in terms of the mortgage payment? Why people who have owned their homes since the 80s, 90s, and 00s brag about their mortgage only being $700 or $800 a month? Why the sudden change? And if the mortgage payment can change, how does that make it any different from an adjustable rate mortgage?

Nashville Indiana

Hi and thank you for this! I am more concerned about prices dropping in the next 6 months or so if I buy now; then I would have serious buyers remorse if I am stuck in a house for at least 10 years waiting for the equity to build. Any advice? -A renter in SoCal.

Not applicable if its fixed interest rates and non escrow taxes and insurance.

Hi Kyle, great video! I have a question for you based on my scenario. I’m a first time homebuyer, pre approved as a soon to be retiree. Was pre approved for $300k. I have no debts, my score is 820. I said I was putting 3.50% down payment. The lender I’m using was recommended by my realtor. However, I came to find out the lender only works for Mutual of Omaha and she’s not a broker. Houses I have looked at, she is giving me a 6.50% interest rate for a conventional loan. However, she’s telling me I need to come up with more down payment as my monthly payments are too high for my retiree budget which is true. I would like to hear your opinion about this. Should I look at a broker for other quotes? My issue here is what if the realtor or this lender get upset and not help me with all of the process? This process is a lot to take in… I also found out that Houston Tx (where I’m looking) has a down payment program, but I have to use the state website lenders to see if I qualify for their pay,ent assistance program and low rates. What are your thoughts on all of this? Thank you in advance for your response.

Mine went up in 2022 and 2023, because of all the house buying frenzy and people paying over asking price drove property values up, but it went down this year. We're back to our original payment of $938 a month.

HOA is the biggest scam in the country

So I recently left my second full time job for another one. I was at the previous 2nd job for 6 months if I stay at the new 2nd job for about 1 year and 6 months equaling 2 years could I use that new jobs w2's and income with my first jobs w2's and income to help me apply for a mortgage? Granted I've already been at my 1st full time job a year already.

9 years ago my mortgage was $917, now it just increased to $2047 a month. Now the school board here has voted for bond expansions, and the new Insurnace commissioner in my state blanket approved all Insurnace pricing increases… The Insurnace and tax systems are scams and I refuse to believe otherwise

Prices and rates are way too high right now. Things were so much better just a few short years ago

Is it Baltimore city or Baltimore county? Because they are 2 different things

Do you offer Fha with down payment assistance and the heroes program for nurses?

Wow how times have changed. I made it through process six weeks, and closed on a great condo in Tampa, FL 5/31/2024. Go through a local loan officer to maintain communication, mine was great. I had a realtor who was a former coworker and she was very upfront about extended closing and immediately text or called or emailed and CC’d everyone.

Thank you for sharing this, people are completely misinformed on this topic and think they have fixed housing costs for 30 years

I figured from just the title it was going to be because of escrow. I realize sometimes people don’t have a choice but I’ve always avoided it.

When buying a condo does the property tax go up? Also is the taxes paid in the monthly cost for the condo?

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

Can the buyer buy it down?? Sounds like something i might wanna do myself

Thank you. This makes me feel so much better about the process

My Homeowners insurance was not in my house payment. I bundled it with my car and life insurance, and got a discount. Never had an HOA until I retired to a 55+ community. HOAs suck.

Your taxes arw based on the value of your home compared to your neighbors. It has 0 to do woth your homes value. Of all the homes go up the same there is no change.

You got the tax wrong. Your tax goes up from poloticians raising taxes. If the mill rate stayed the same it is unlikely the property tax would go up.

Do not bundle your mortgage with insurance and property tax through escrow. It is a waste of money, unpredictable, and negatively impacts your stats when applying for credit later. Just save on the side, earn interest, and pay the 3 bills separately.

Northwest GA

How to determine the right mortgage broker? What important factors to have in mind?

In addition to these fees you have utilities and maintenance costs too. So double the number per month essentially.

I don’t see any incentive to buy a house.

I bought a house at the end of 2022 in Oregon and my payment went DOWN after the first year and I got an escrow rebate. I live in a new area and the taxes were overestimated. I do expect that things will creep up slightly over the long term.

Americans never really own their homes, they are deluded to think they own. Is just a lower rate rental.

Thankfully, California has Prop 13. Your property tax is based on the purchase, regardless of market value. it CAN go up, but no more than 2% of the tax that you are paying that's based on the purchase price. So if you bought your property at $600K, your property tax is set at 6K for perpetuity and can only go up at the max of 2% of the 6K. This tax rate can even transfer to your children if they inherit the house and have it as their primary residence. My coworker inherited her childhood home that her parents purchased in the 80s for 200K. The house is worth over a million now but her property tax is still based on the original purchase price of 200K that her parents were paying. There's some caveats, like if you refi then the tax goes up to assessed value at that time and stays there until you refinance again, but that's Prop 13 in a nut shell.