How Do You Actually Buy a House?

I own 5 rental homes now but still live with my parents I can never qualify for a personal home due to government regulations. Makes no sense.

u know u dont own it unthill u pay for it so u will own it in 30 years

In my country buying a house takes like 20 minutes without taxes, and other fancy stuff idk what they mean.

You can never own a house in America. The criminal government owns them all. Stop paying property tax and find out!

I'm in Ca 😭😭😭😭😭😭

The fact that the video not even mentions option of buying house via cash without loans proves that we live in distopia

Great video. Straight to the point and very informative.

I’m in Kentucky and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

If you rent a house, you have to pay the first two months up front. If you take out a mortgage, you get a two-month grace period. Life is just easier if you’re rich

Dandre Brooks

It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

This was perfect for our 3rd grader to help her understand where we were in the house buying process. The visuals 🎉

Lewis Kevin Hernandez Frank Hernandez Cynthia

Ok now I need a “how to buy a house for introverts who don’t have friends or references” video

ayo they didn't teach this in AP lang

pog

3.5% down payment loans are why it's all too expensive now...

This video proves that most people shouldn't buy a house.

Can't afford it

Thank u so fucking much

Thank You. Great job. I was well informed

Thank you very helpful with the illustrations with officers, realtors, ans underwriters. Now I see the clearer picture. :)

If you find a dealbreaker during the inspection phase, do you get your deposit back?

A DEPOSIT to show were serious? Lol😂 🤡 never

Get a Time Machine and go back to the eighties and buy one for two years wage and a bag of corgettes. I’ve been priced out of my birthplace, Boston MA

Step one: Be born before 1970

If you want a new build DO NOT GET A REALTOR! Realtors will take a commission, so your offer is less valuable with a Realtor, you actually have more negotiating power without one.

Wow! I never knew that! You guys are super awesome!

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

Used my VA home loan to buy my first home, ever. Only put down $500, period. And I closed in less than a week.

This is great! Quick, fun yet informative and visual which helps you learn 100% better!

Update

I feel so bad that I was not involve in the process my sister when through

This was very well explained, informative and the steps remain the same even now 2023. We just closed on our home. Thank you both.

I would critique that you missed a very important step.

Step 0 - Get a lawyer. They will be reviewing everything you sign.

Also missed insurance.

This is a cute, old timey video!!!!

All of that just to divorce and sell the house repeat the process and stress all over again :D

I can’t find a house that I like. I can’t find

• Squat toilets
• Flat roof
• Small fridge
• Less than 800 square feet
• Only one bedroom
• Toilet and shower in separate rooms
• Combined living room, kitchen, and bedroom

I live in America and those are not a common thing here

My Personal Finance class sent me here 😂

It must be very painful to pay huge mortgage and property tax for 30 years in California.

I'm having an argument with my wife about 15 year vs 30 year mortgage loan. I calculated that I would only have to pay 200 dollars more per month $1300 if I took a 15 year loan option, but she is adamant about sticking with a 30 year loan because that's what all her family members and friends are doing. The house I'm trying to purchase is 200K and I calculated that I would have to pay 184K in interest payments at the end of my 30 year loan term and I'm putting 60K as a down payment. I calculated that I would be paying 384K in total for the home on a 30 year loan and 276k total with a 15 year loan. Friends and family are telling me I'm crazy and that math doesn't add up. Am I missing something. Would really appreciate the help.

I have to say, as someone in the process of buying a house, having this outline of the process has been helpful. Also helpful have been my realtor and loan officer, who have both been transparent and helped keep my feet on the ground.

Such a complicated process for the average person. I bet it wasn't near as complicated back in our grandparents day, they seemed to thrive in life

Incredible

Buying a house can be STRESSFULL so get ready. I just bought my first house at 27, put 10% down with a 770 credit score and it took nearly 2 months to get the keys, alot of back and forth, and at closing you sign like literally 100 pages of documents. Your hand it tired at the end of it.

Edit: But it is so worth it. To come home everyday knowing I own the house. Being proud of it. Perfecting my lawn etc. It's super rewarding.

I'm closing on a home soon and came back to this video multiple times to clarify some of the process. It was supremely helpful and I'm grateful for the info. Thanks so much! It's a stressful process, now I'm honestly lost for what to do after closing...I would LOVE a video explaining how to determine what to do with your home once you own it: how much of it to renovate, what will add value to the home, how to source a good contractor, etc.

This is SO helpful! Thank you! :)

Quality video

Everyone goes on about how their mortgage is 'only' X amount of dollars but never talk about all of the bills + that go along with being a home owner.......mortgage poor.