WEBVTT - Study Hall: How to Buy a Home in 2022 with MG The Mortgagee Guy 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:00.000 Sponsored by the United States Department of Homeland Security. 0:01:00.520 --> 0:01:05.639 We're gonna get it. We're gonna get this going. Yeah, 0:01:06.600 --> 0:01:08.399 the hardest working men in showbiz. 0:01:09.360 --> 0:01:10.800 You may never see nothing like this again. 0:01:10.920 --> 0:01:14.160 It's gonna be rare, it's gonna be extremely. 0:01:13.760 --> 0:01:15.520 You may nothing like this again. 0:01:15.360 --> 0:01:19.120 Extremely rare, I'll tell you that much. Let's get the 0:01:19.319 --> 0:01:23.480 back call out, trying to get to this core the 0:01:23.560 --> 0:01:29.040 right way. I hope everybody's doing well out there. Jam 0:01:29.160 --> 0:01:31.640 pack week for us, man, we have Steve Harvey for 0:01:31.720 --> 0:01:36.080 Market Mondays this episode. Yesterday we got caught phased Land 0:01:36.640 --> 0:01:40.240 and we are back today to round out the week 0:01:40.760 --> 0:01:45.240 with a live with MG the Mortgage Guy on. 0:01:46.840 --> 0:01:51.440 How to Buy Own twenty twenty two. Yeah, so you know, grin, 0:01:51.480 --> 0:01:51.920 don't stop. 0:01:53.840 --> 0:01:58.400 We are in Atlanta headquarters. If you notice the core 0:02:00.680 --> 0:02:03.560 so yeah, man, it's a wow. Just finish a dope interview. 0:02:04.600 --> 0:02:08.000 So literally yeah, yeah. 0:02:07.880 --> 0:02:09.320 That's gonna be coming away real soon. 0:02:10.320 --> 0:02:10.760 Yeah. 0:02:10.919 --> 0:02:14.400 Shout out to Houston, all the restaurants to us out there. 0:02:14.480 --> 0:02:19.160 Shout out to our Age down, Family, Pricenta Though, Mike Brown, Jazz, 0:02:19.200 --> 0:02:19.919 what's going on? 0:02:20.919 --> 0:02:24.040 What else we got out the slim Thug. Everybody in 0:02:24.040 --> 0:02:25.240 Houston's going on in Atlanta? 0:02:25.280 --> 0:02:25.680 What's up? 0:02:27.400 --> 0:02:27.840 New York? 0:02:28.639 --> 0:02:35.840 We will be home shortly. We'll be home. Hot out there. Oh, 0:02:35.880 --> 0:02:38.320 brother MG about to jump on right now, he tells you. 0:02:38.760 --> 0:02:43.960 Yeah, yes, so open enrollment. This is what we do 0:02:44.240 --> 0:02:45.400 every Wednesday. 0:02:45.440 --> 0:02:48.200 The last Wednesday of the month every single month for 0:02:48.560 --> 0:02:49.639 Eyol University. 0:02:49.680 --> 0:02:51.919 It gives you a peak into eyl University. 0:02:51.960 --> 0:02:54.919 And we picked different topics and I just felt like 0:02:55.360 --> 0:02:59.280 this month it would be a great time to address 0:03:00.560 --> 0:03:02.880 how to bout home and different aspects of it because 0:03:02.880 --> 0:03:04.720 we've been talking a lot about you. 0:03:04.600 --> 0:03:06.359 Know, interest rates. 0:03:07.400 --> 0:03:11.280 Going through the roof and if homes are going to 0:03:12.040 --> 0:03:14.840 you know, have a decline and different things of that nature. 0:03:14.919 --> 0:03:16.280 So a lot of people are nervous, a lot of 0:03:16.280 --> 0:03:18.920 people are anti, a lot of people are on the 0:03:18.960 --> 0:03:21.200 fence if they should buy a home or not because 0:03:21.280 --> 0:03:25.280 you know, the. 0:03:23.760 --> 0:03:26.000 Climate, the environment that we're in right now. 0:03:26.160 --> 0:03:28.200 So I feel like it just be a good time 0:03:28.200 --> 0:03:32.519 to just have that conversation, not only from a personal 0:03:32.560 --> 0:03:36.080 property standpoint, but also from an investing standpoint as well. 0:03:36.560 --> 0:03:38.000 So I just feel like, you know, it'll be a 0:03:38.040 --> 0:03:39.920 good time to just revisit this conversation. 0:03:40.720 --> 0:03:43.680 And middle of the year looks like we're going to 0:03:43.720 --> 0:03:46.480 be headed towards a recession officially announced in a few weeks. 0:03:46.960 --> 0:03:50.080 So real estate and you can never we can never 0:03:50.120 --> 0:03:52.680 talk about real estate enough. So I feel like now 0:03:52.760 --> 0:03:56.200 it's a perfect opportunity to talk about real estate and 0:03:56.240 --> 0:03:58.200 this is why we chose this topic right now. 0:03:58.280 --> 0:04:00.240 So and then, of course. 0:04:00.320 --> 0:04:03.200 MG is somebody that you know, only makes sense to 0:04:03.240 --> 0:04:07.160 have this conversation with because he is not only you know, 0:04:07.240 --> 0:04:10.240 ey L alumni, but a pioneer in the space and 0:04:10.400 --> 0:04:15.120 somebody that has helped pioneer the whole financial literacy movement 0:04:15.160 --> 0:04:18.160 when it comes to real estate. So, you know, always 0:04:18.240 --> 0:04:21.320 good to hear his perspective from somebody that's actually on 0:04:21.440 --> 0:04:26.120 the inside officer, not just somebody that just invest in property, 0:04:26.200 --> 0:04:28.880 somebody that actually is working in the field day to 0:04:29.000 --> 0:04:33.640 day and people will proved for mortgages, getting people funding. 0:04:33.279 --> 0:04:33.839 The bay home. 0:04:34.080 --> 0:04:34.800 This is what he's. 0:04:36.560 --> 0:04:37.200 So. 0:04:37.200 --> 0:04:41.359 So yeah, man, there is an MLS five A seven 0:04:41.440 --> 0:04:42.159 zero zero. 0:04:43.640 --> 0:04:45.960 Also going to energy the mortgage guy. 0:04:46.880 --> 0:04:49.719 What's yeah? What's good? Fellas? What's good? 0:04:49.720 --> 0:04:49.880 Man? 0:04:49.880 --> 0:04:50.760 How you're feeling, man? 0:04:51.240 --> 0:04:51.920 How you feeling? 0:04:51.920 --> 0:04:52.120 Man? 0:04:53.000 --> 0:04:55.279 You know, I'm not one hundred percent. I ain't gonna 0:04:55.320 --> 0:04:58.160 hold you up, but I'm here, I'm alive, I'm blessed, 0:04:58.760 --> 0:05:01.280 and I'm ready. I'm ready to show the funk out. 0:05:01.320 --> 0:05:01.440 Man. 0:05:01.480 --> 0:05:05.160 Let's go, Man, I can't I came. I came here 0:05:05.160 --> 0:05:07.680 for violence today. Man, Let's go. I've been I've been 0:05:07.720 --> 0:05:10.200 I've been cooped up for a whole week. Let's go Man, 0:05:10.200 --> 0:05:13.440 where my earners at Man, Let's go see. 0:05:13.440 --> 0:05:16.080 I gave you the co host joint, so I right, 0:05:16.600 --> 0:05:18.120 I mean we're in for a treat tonight. I saw 0:05:18.160 --> 0:05:18.720 what's happening. 0:05:18.839 --> 0:05:20.880 So before we start, I just definitely want to give 0:05:21.440 --> 0:05:24.800 my condolences to EYO alumni that passed away today, Dal 0:05:24.960 --> 0:05:28.200 Freeman Jr. If you're familiar with Dal Freeman, he came 0:05:28.240 --> 0:05:30.800 on an episode a while ago, like a year and 0:05:30.880 --> 0:05:34.919 a half ago, and you man from Nashville, Tennessee that 0:05:35.320 --> 0:05:40.560 was big in real estate. Actually, slim Husky's another EYO alumni. 0:05:40.600 --> 0:05:42.720 He invested in their company and was help mentoring them 0:05:43.360 --> 0:05:46.800 and you know, started his company and sold it for 0:05:46.880 --> 0:05:48.080 twenty two million dollars. 0:05:48.560 --> 0:05:49.640 And it's a great story. 0:05:49.800 --> 0:05:52.360 And he gave a lot of great insight on how 0:05:52.400 --> 0:05:56.040 to evaluate a business, how to sell a business, how 0:05:56.040 --> 0:05:58.720 to you know, buy real estate, different things of that nature. 0:05:58.760 --> 0:06:00.600 And somebody that you know, we became ain't real good with. 0:06:01.279 --> 0:06:05.200 And he actually was a paid member of eyl University 0:06:05.320 --> 0:06:07.880 also and added a lot of value to e y 0:06:08.000 --> 0:06:11.000 L University and added a lot of value to anybody 0:06:11.040 --> 0:06:14.640 online that was interested on entrepreneurship and investment. 0:06:14.839 --> 0:06:19.279 So sad to hear about his passing today. 0:06:20.040 --> 0:06:24.480 You know, definitely send our condolences to his family, uh, 0:06:24.520 --> 0:06:28.359 to his friends and you know, ey l Is we 0:06:28.360 --> 0:06:30.680 could say the alumni because it is it is a 0:06:30.839 --> 0:06:32.919 fraternity and it's you. 0:06:32.920 --> 0:06:35.240 Know some people we speak too more often than other people. 0:06:35.279 --> 0:06:38.480 But you know, when you come more early a leisure 0:06:38.839 --> 0:06:41.360 you definitely you know, become part of the family. 0:06:41.760 --> 0:06:43.800 And we developed relationships with a lot of the people. 0:06:43.920 --> 0:06:46.400 So this is the first person that has ever come 0:06:46.440 --> 0:06:50.359 on our platform that has passed away, so you know, 0:06:50.440 --> 0:06:53.479 that's something that's new to us. But we all know that, 0:06:53.560 --> 0:06:57.320 you know, life is short, life is fragile, and you 0:06:57.320 --> 0:06:59.800 know nobody looks forever. So that that the key is 0:06:59.839 --> 0:07:01.800 to make the most out of life that you have, 0:07:02.480 --> 0:07:07.760 appreciate it, make wise decisions and leave your family in 0:07:07.760 --> 0:07:10.960 a in a in a better position when you pass 0:07:10.960 --> 0:07:13.760 away to to you know, have peace of mind, have 0:07:13.920 --> 0:07:17.680 generational wealth, and create some level of you know, stability. 0:07:18.280 --> 0:07:20.280 So I'm sure that he did that. 0:07:20.800 --> 0:07:23.480 So yeah, I just wanted to give give Mark and 0:07:23.520 --> 0:07:25.560 Thrones to speak a little bit before we start this 0:07:25.600 --> 0:07:27.400 because we're gonna talking about real estated I'm talking about 0:07:27.400 --> 0:07:30.160 a lot of money. But ultimately, we got to keep 0:07:30.160 --> 0:07:33.120 in mind that life is the most important. Life is 0:07:33.120 --> 0:07:37.280 the most important asset that we will ever have, and 0:07:37.360 --> 0:07:40.880 we can never you know, take it from granted. Because 0:07:40.920 --> 0:07:43.240 just to be able to breathe as a blessing, just 0:07:43.280 --> 0:07:45.440 to be able to you know, have your your right 0:07:45.480 --> 0:07:48.320 mind as a blessing. So we're all blessed at the 0:07:48.400 --> 0:07:50.360 end of the day. If you're watching this, you're blessed. 0:07:50.680 --> 0:07:53.760 If you're able to type something in the chat, you're blessed. 0:07:54.160 --> 0:07:56.800 If you're able to you know, speak, tell a friend 0:07:56.800 --> 0:07:59.680 and tell a friend, you're blessed. And we're blessed to 0:07:59.760 --> 0:08:01.880 be able to you know, be here in front of 0:08:01.920 --> 0:08:03.240 you and to speak. 0:08:04.480 --> 0:08:07.520 So yeah, yeah, And when we talk about legacy, and 0:08:08.120 --> 0:08:10.520 I said this kind of a few times, the legacy 0:08:10.840 --> 0:08:13.480 is really written by the people you've impacted. And so 0:08:13.520 --> 0:08:16.200 I'm sure his legacy will live on, especially through us 0:08:16.240 --> 0:08:18.680 and the people he's mentored, his business partners and the 0:08:18.760 --> 0:08:22.480 husky And he's always like, like Rashad said that he's 0:08:22.520 --> 0:08:26.120 a man who's always offered guidance with somebody that we 0:08:26.120 --> 0:08:27.720 could text and the cole on when we needed him 0:08:28.280 --> 0:08:31.480 even invite us to visit his own island with his family. 0:08:31.560 --> 0:08:32.840 So a gracious man. 0:08:33.160 --> 0:08:36.160 And again we offer our condolens sisters on Timmy passing. 0:08:36.679 --> 0:08:39.560 But we're gonna keep the legacy going. Entrepreneurship is something 0:08:39.600 --> 0:08:40.160 he was big on. 0:08:40.480 --> 0:08:43.040 Creating businesses with something he was big on, but understanding 0:08:43.040 --> 0:08:45.880 how to evaluate and potentially tell your business was something 0:08:45.880 --> 0:08:46.560 that he was big on. 0:08:46.840 --> 0:08:48.760 So you know, we're gonna keep the legacy going. And 0:08:48.760 --> 0:08:50.240 I'm sure Ernest in here and the people that are 0:08:50.240 --> 0:08:52.640 watching them to be out as well. So again, rest 0:08:52.679 --> 0:08:55.600 in peace to dolphimjury and adults to the family. 0:08:57.080 --> 0:08:58.280 Yeah. 0:08:58.360 --> 0:09:01.440 Yeah, he was an actavern a two that he was. 0:09:01.840 --> 0:09:04.360 He was active and you know, for a man to 0:09:04.480 --> 0:09:07.080 have made that amount of money and he's in a 0:09:07.120 --> 0:09:09.640 private Facebook group paid and he paid to be in 0:09:09.679 --> 0:09:13.800 there and giving a lot of insight to the earners 0:09:13.840 --> 0:09:17.000 almost daily. And what he's did online, you know, he 0:09:17.160 --> 0:09:20.360 championed being the freak, the free game champ basically, you know, 0:09:20.600 --> 0:09:23.640 and I think that's something that all three of us 0:09:23.679 --> 0:09:26.400 and our whole movement what we do too is try 0:09:26.480 --> 0:09:29.199 to give a lot of free game more than paid right, 0:09:30.160 --> 0:09:32.760 So he was definitely a legend. And rest in peace 0:09:32.800 --> 0:09:35.720 to him and his family because you know, it's sad man, 0:09:35.760 --> 0:09:38.000 you never know, you never know, and it's crazy. I 0:09:38.040 --> 0:09:39.680 was thinking, like I haven't seen him a lot this 0:09:39.800 --> 0:09:43.800 year too, because normally he's super active online and just 0:09:43.800 --> 0:09:46.520 to hear hear the news today is just kind of 0:09:46.679 --> 0:09:49.040 kind of took a step back. So rest in peace 0:09:49.080 --> 0:09:52.319 to Daryl Framan, Sr. And conduless to his family and 0:09:52.640 --> 0:09:53.520 God bless that man. 0:09:54.960 --> 0:09:57.600 Yes, so we're going to get into this. We'll talk 0:09:57.600 --> 0:09:59.960 about you, but I want to talk about that later on. 0:10:00.480 --> 0:10:02.120 I feel like, you know, we can, we can get 0:10:02.160 --> 0:10:05.040 into the programming, get some education, and then we can 0:10:05.120 --> 0:10:08.240 kind of you know, talk about that. So yeah, we 0:10:08.240 --> 0:10:10.800 do not evenna waste no time, MG, the Floyd yours. 0:10:10.840 --> 0:10:12.280 We're going to talk about how to buy a home. 0:10:12.360 --> 0:10:15.160 This is something that's very very important. A lot of 0:10:15.160 --> 0:10:17.520 people want to buy homes, whether it's your first home, 0:10:17.559 --> 0:10:21.240 second home, third home, investment property. You know, it's a 0:10:21.280 --> 0:10:25.120 lot of it's a lot of fear in the marketplace. 0:10:25.200 --> 0:10:27.199 So let's give it people some education. 0:10:28.400 --> 0:10:32.640 Well, Warren Buffett once said the famous quote, right when 0:10:32.679 --> 0:10:36.960 people are being greeting, be fearful, and when people are 0:10:37.400 --> 0:10:41.200 being fearful, be greeting. So I need everybody to understand 0:10:41.720 --> 0:10:44.280 that this is one of those times, and it's going 0:10:44.320 --> 0:10:47.000 to be better than the pandemic. I'm telling you. I 0:10:47.080 --> 0:10:49.920 told you guys two years ago during the pandemic April 0:10:49.960 --> 0:10:51.800 twenty twenty, I was on the Breakfast Club and I 0:10:51.880 --> 0:10:54.520 was on that and I told y'all, when they open 0:10:54.600 --> 0:10:57.040 up America, the flood gates are going to happen. The 0:10:57.080 --> 0:11:00.760 government's going to do everything in their power to prevent 0:11:00.840 --> 0:11:04.320 a crash, and they did in the real estate space, 0:11:04.320 --> 0:11:07.560 I'm speaking specifically, and it went crazy and I was 0:11:07.600 --> 0:11:09.480 online screaming to the top of my lungs. You need 0:11:09.559 --> 0:11:11.280 to go and get this cheap money because it won't 0:11:11.320 --> 0:11:15.600 last forever. As you all can see, it didn't last forever. 0:11:15.880 --> 0:11:19.920 It lasted for about eighteen twenty months, and now interest 0:11:19.960 --> 0:11:23.040 rates have skyrocketed. But I want everybody to understand that 0:11:23.080 --> 0:11:27.320 presents probably the best opportunity for real estate people in 0:11:27.360 --> 0:11:30.520 the next two years, because there's going to be less 0:11:30.559 --> 0:11:33.280 buyers in the market, there's going to be more inventory 0:11:33.360 --> 0:11:36.520 that's going to hit the market, and especially if you 0:11:36.559 --> 0:11:39.360 are investing, this is going to be probably the best 0:11:39.440 --> 0:11:42.600 opportunity for you as an investor to buy real estate. 0:11:42.720 --> 0:11:45.240 Just pay attention to what everything that's happening in the news. 0:11:45.640 --> 0:11:48.960 They are spewing fear left and right when it comes 0:11:49.000 --> 0:11:52.000 to housing. So this is the time, in my opinion, 0:11:52.080 --> 0:11:54.600 where you guys need to really start thinking like investors, 0:11:54.679 --> 0:11:57.640 even if you're buying your first home, think like an investor. 0:11:57.679 --> 0:11:59.439 And this is something I've been screaming for the top 0:11:59.480 --> 0:12:02.199 of my lungs. Also, stop being emotional. I think like 0:12:02.280 --> 0:12:05.760 an investor because this opportunity will pass you by if 0:12:05.800 --> 0:12:08.680 you don't take action on it. Regardless of where the 0:12:08.760 --> 0:12:11.640 interest rates are right now, still a great opportunity to buy. 0:12:12.760 --> 0:12:14.800 So I'm gonna share my screen man. Let's get busy 0:12:14.840 --> 0:12:17.680 with this real quick. Now. You gotta forgive me. I'm 0:12:17.720 --> 0:12:20.520 new to this. Mac Tuks done did all types of 0:12:20.559 --> 0:12:22.920 new stuff in the in the studio. I don't I'm 0:12:22.960 --> 0:12:25.000 a PC guy, so I don't even He told me 0:12:25.040 --> 0:12:26.679 I got a swipe with three fingers. I'm like, what 0:12:26.760 --> 0:12:28.360 is this, bro? I don't know what you're talking about. 0:12:28.840 --> 0:12:33.240 So ya gotta ya, gotta forgive me. Where I don't 0:12:33.240 --> 0:12:35.600 even know how you okay, share your screen? I think 0:12:35.640 --> 0:12:40.560 he said, share my desktop? Right, yeah, how you do 0:12:40.679 --> 0:12:43.240 share desktop? Oh? Shared desktop? 0:12:43.280 --> 0:12:43.520 One? 0:12:43.880 --> 0:12:45.640 Okay, you see I don't know what I'm doing. 0:12:45.679 --> 0:12:48.319 Yea, now we see, we can see it now see. 0:12:48.120 --> 0:12:51.440 My desktop now? Yeah, all right, I see this. 0:12:52.520 --> 0:12:54.480 Yeah, all right. 0:12:54.600 --> 0:12:58.000 So I'm not the most tech guy, but tooks. Since 0:12:58.000 --> 0:12:59.520 I just came off with COVID, he said, I'm not 0:12:59.520 --> 0:13:05.120 being next next to you next week, alrightfully, so so 0:13:05.800 --> 0:13:08.199 all right, let me how let me figure out how 0:13:08.240 --> 0:13:13.400 to maximize this? How do you maximize your his slides 0:13:13.440 --> 0:13:16.520 show slid show where you see that up it's. 0:13:16.440 --> 0:13:18.719 Right there next to ship, next to share, next to 0:13:18.720 --> 0:13:22.319 the yellow share. By then you are getting a tutorial 0:13:22.400 --> 0:13:23.400 on how to work in computer. 0:13:25.720 --> 0:13:26.840 No, go back, go back. 0:13:29.040 --> 0:13:31.959 When you see your sly show, so you see. 0:13:31.760 --> 0:13:36.320 You move the curses to the right up right down, down, 0:13:36.400 --> 0:13:37.839 down down down. 0:13:37.679 --> 0:13:39.560 The slash show slas show right here. Yeah you know 0:13:39.640 --> 0:13:41.520 I couldn't see it because you guys was in like 0:13:41.559 --> 0:13:42.920 the picture and picture thing was there. 0:13:43.440 --> 0:13:46.000 That's okay, now we're good. 0:13:46.080 --> 0:13:48.280 Now we're good, all right, So it's not Garland and 0:13:48.320 --> 0:13:50.720 them A less number five eight seven zero zero, better 0:13:50.760 --> 0:13:54.920 known as MG the mortgage Guy. Let's get busy. We're 0:13:54.920 --> 0:13:56.640 gonna teach you how to buy a house in twenty 0:13:56.679 --> 0:14:00.280 twenty two. Who am I? I am the mortgage banker, 0:14:00.360 --> 0:14:02.839 the mortgage goal, the mortgage king. Whatever you want to 0:14:02.880 --> 0:14:05.199 call me, Just call me something. I've been in a 0:14:05.240 --> 0:14:08.200 business for nineteen going on twenty years, funded almost a 0:14:08.280 --> 0:14:12.120 billion dollars. That's a billion with to be in my career. 0:14:13.559 --> 0:14:16.040 I'm one of the top mortgage people in the country. 0:14:16.200 --> 0:14:18.520 I run a division of a mortgage bank. We are 0:14:18.559 --> 0:14:20.960 here to help you, guys, achieve your real estate goals. 0:14:21.040 --> 0:14:25.400 Whether you're looking to buy your primary residents, buy a 0:14:25.480 --> 0:14:30.080 secondary home or a vacation home, or purchase investment properties. 0:14:30.360 --> 0:14:33.600 Meet and my team could help you achieve your goals. 0:14:33.640 --> 0:14:35.800 All right, just hit the link in my Instagram bio 0:14:36.040 --> 0:14:39.040 and we will take care of you. All my resources 0:14:39.080 --> 0:14:41.680 are there, all right. So today we're gonna keep it 0:14:41.720 --> 0:14:44.520 real simple. I'm gonna give you a lot of information. 0:14:45.480 --> 0:14:47.800 If you're ready for some information, put some fires in 0:14:47.880 --> 0:14:52.160 a chat. MG is ready to go. We're gonna teach 0:14:52.200 --> 0:14:55.760 you how to prepare your lend defile. I'm gonna teach 0:14:55.760 --> 0:14:59.600 you how to hire the right lender right with low 0:14:59.680 --> 0:15:02.280 program and I'm gonna go briefly on a couple programs. 0:15:02.320 --> 0:15:06.600 I'm gonna discuss closing course, the underwriting process. Then I'll 0:15:06.600 --> 0:15:08.560 open it up for some Q and A. But there's 0:15:08.600 --> 0:15:10.480 gonna be a lot of information in this and I'm 0:15:10.520 --> 0:15:13.720 gonna take you to a couple different websites also, So 0:15:13.720 --> 0:15:16.080 I'm gonna need you guys to really focus in on 0:15:16.120 --> 0:15:17.840 this because I want to show you, guys how to 0:15:17.880 --> 0:15:21.600 go get certain information on your own versus it being 0:15:21.720 --> 0:15:25.400 in a slide show. All right, preparing your lend to 0:15:25.440 --> 0:15:28.880 file most important, most important. A lot of people are 0:15:28.920 --> 0:15:32.520 not organized. This is one of the biggest problems that 0:15:32.600 --> 0:15:35.400 I see when people are looking to purchase real estate. 0:15:35.640 --> 0:15:38.560 They are not organized. So one of the key things 0:15:38.600 --> 0:15:41.120 I want to tell you guys, the document checklist that 0:15:41.160 --> 0:15:44.040 you see here is pretty standard across the board for 0:15:44.160 --> 0:15:46.320 all lenders. And I love to see all that fire 0:15:46.360 --> 0:15:48.440 in the chat YouTube. Y'all keep it going. Let's hit 0:15:48.440 --> 0:15:52.440 that like button share it's with ten people immediately, all right, 0:15:52.480 --> 0:15:55.359 and y'all screenshot this slide because these are the documents 0:15:55.640 --> 0:15:58.360 that you are gonna need for any lender. That you 0:15:58.480 --> 0:16:00.880 go to in America. All Right, the last two years 0:16:00.880 --> 0:16:03.440 of W two's you're gonna need a two year work history. 0:16:03.720 --> 0:16:06.400 Now if you are a two year If you are 0:16:06.560 --> 0:16:11.000 a W two employee, you do not need to show 0:16:11.080 --> 0:16:15.520 tax returns unless that lender has overlays, which are guidelines 0:16:15.560 --> 0:16:18.360 on top of goidelines. But for the most part, if 0:16:18.400 --> 0:16:22.160 you are a simple W two employee, you do not 0:16:22.240 --> 0:16:24.880 need to show your tax returns. We do need to 0:16:24.920 --> 0:16:29.280 see a two year work history. Now. One of the 0:16:29.280 --> 0:16:32.400 biggest things that people always tell me is, Matt, I 0:16:32.480 --> 0:16:34.600 have five jobs in the past two years, but they 0:16:34.640 --> 0:16:37.720 will all W two. Does this disqualify me? No, it 0:16:37.760 --> 0:16:43.160 does not. Any gaps in employment we have to document 0:16:43.560 --> 0:16:47.600 with a letter of explanation that gap in employment. All right, 0:16:48.160 --> 0:16:51.840 If you go from working from Target to ups to 0:16:52.520 --> 0:16:56.000 Best Buy, that's okay. As long as your income is 0:16:56.040 --> 0:16:59.480 the same or increasing, you won't have no issues. But 0:16:59.640 --> 0:17:03.360 if you're income is decreasing, then that could be an issue. 0:17:03.800 --> 0:17:07.520 All right, last two Now, I want to say another thing. 0:17:07.720 --> 0:17:10.920 If you go from W two to ten ninety nine 0:17:11.080 --> 0:17:14.840 or self employed, you start your clock back over. So 0:17:14.920 --> 0:17:18.280 if you go from working at the post office and 0:17:18.320 --> 0:17:21.159 then you want to open up your event space and 0:17:21.240 --> 0:17:24.679 quit and fire your job. Then guess what you start 0:17:24.720 --> 0:17:30.160 all over? You start all over all right, last two 0:17:30.240 --> 0:17:33.440 years tax returns. This is truly only if you're self 0:17:33.480 --> 0:17:38.040 employed or if you own real estate investments. Is where 0:17:38.040 --> 0:17:41.280 we have to look at your last two years tax returns. 0:17:41.520 --> 0:17:45.480 If you are self employed, last thirty days of pay stuffs. 0:17:46.240 --> 0:17:48.520 We need all pay stuffs for the past thirty years. 0:17:48.560 --> 0:17:50.320 So if you get paid by weekly, we need the 0:17:50.359 --> 0:17:52.639 last two. If you get paid weekly, we need the 0:17:52.760 --> 0:17:56.159 last four. If you have multiple jobs, we need to 0:17:56.720 --> 0:17:59.560 have all the pay stuffs for multiple jobs. Now I'm 0:17:59.560 --> 0:18:02.360 glad of just said that to myself. Multiple jobs if 0:18:02.440 --> 0:18:05.880 you have, if you work two jobs at the same time, 0:18:06.240 --> 0:18:09.439 you need to have a two year consistent work history 0:18:09.960 --> 0:18:12.119 of working those two jobs. So let's just say you 0:18:12.200 --> 0:18:15.520 work at UPS in the daytime and then you work 0:18:15.560 --> 0:18:18.320 at Target overnight, and you want to use both of 0:18:18.359 --> 0:18:21.679 those incomes to help you qualify. That is okay. We 0:18:21.880 --> 0:18:23.720 just need to show that you work that both of 0:18:23.760 --> 0:18:29.520 these jobs consistently and consecutively at the same two year timeframe. 0:18:29.880 --> 0:18:31.880 All right, Because a lot of people start new jobs 0:18:31.920 --> 0:18:33.439 and they say I've been at this new job for 0:18:33.480 --> 0:18:36.080 a year and they want to use that income. That 0:18:36.160 --> 0:18:38.320 income won't work all right, So I just want you 0:18:38.359 --> 0:18:41.280 guys to please understand that if you have multiple jobs 0:18:41.320 --> 0:18:42.919 and you work in Simon TEAMUS, so you need to 0:18:42.920 --> 0:18:45.520 have a two year history for the lenda to use 0:18:45.560 --> 0:18:49.120 that last two months of your bank statements. All pages 0:18:49.359 --> 0:18:53.879 very important. If your bank statement says page six of 0:18:54.040 --> 0:18:57.560 seven and that last page is left blank, the underwriter 0:18:57.880 --> 0:19:00.960 will still need to see page seven. Even if it 0:19:01.040 --> 0:19:06.119 says this page is left blank intentionally, we still need 0:19:06.359 --> 0:19:12.120 to see that statement. Now what your bank statements, what 0:19:12.160 --> 0:19:16.840 we are looking for is the large deposits. So you 0:19:16.880 --> 0:19:20.400 don't want to have too many large deposits, especially cash 0:19:20.640 --> 0:19:26.880 going into your bank account, because we cannot document that transaction. Okay, 0:19:27.680 --> 0:19:32.840 if you have NSF fees, non sufficient funds, you don't 0:19:32.840 --> 0:19:35.119 want to show those bank statements because if you cannot 0:19:35.119 --> 0:19:37.440 manage your money and you go a negative every month, 0:19:37.440 --> 0:19:38.840 then why would a bank want to give you a 0:19:38.880 --> 0:19:41.919 loan that shows you have no discipline. So you have 0:19:41.960 --> 0:19:44.760 to make sure that there's no NSF fees. What I 0:19:44.800 --> 0:19:47.840 try to tell everybody is this right. If you are 0:19:48.920 --> 0:19:51.439 purchasing a home, even if you're preparing right now, you 0:19:51.440 --> 0:19:53.520 say I want to buy six months or eight months, 0:19:53.800 --> 0:19:57.320 open up a separate account, call that your real estate fund, 0:19:57.880 --> 0:20:00.159 name it whatever you want to call it, right and 0:20:00.200 --> 0:20:03.680 then have if you're gonna use your direct deposits, if 0:20:03.720 --> 0:20:05.800 you're gonna use whatever money that you're making that you 0:20:05.840 --> 0:20:10.280 can legally document, have that money only deposited into that account, 0:20:10.680 --> 0:20:14.720 and don't try to do minimum transactions in that account. 0:20:15.680 --> 0:20:18.159 That way you eliminate a lot of headache and a 0:20:18.200 --> 0:20:22.679 lot of future paperwork. Copy of your ID has to 0:20:22.720 --> 0:20:26.680 be a government issued ID, driver's licensed passport, and it 0:20:26.760 --> 0:20:29.720 has to be valid. If you're getting a gift, which 0:20:29.800 --> 0:20:35.679 is allowed for most traditional programs, conventional FHAVA, you can 0:20:35.720 --> 0:20:38.199 get a gift, it just has to be documented with 0:20:38.240 --> 0:20:42.679 a gift letter. And we have to see the donors' 0:20:43.240 --> 0:20:47.320 bank statements showing them that they have the money and 0:20:47.359 --> 0:20:50.600 they're able to gift it over to you. Now, what 0:20:50.680 --> 0:20:52.800 a lot of people try to do, and I'm gonna 0:20:52.800 --> 0:20:56.160 tell you this right now, don't do this. They will 0:20:56.240 --> 0:20:58.800 have mattress money and say hey, I got fifty k 0:20:58.920 --> 0:21:01.280 on my mattress, or to only came my mattress. I'm 0:21:01.280 --> 0:21:03.840 gonna give it to my mom, let her deposit it, 0:21:03.920 --> 0:21:06.119 and then she's gonna wire me the money as a gift. 0:21:06.720 --> 0:21:09.960 Doesn't work like that. You can't do that. We're gonna 0:21:09.960 --> 0:21:12.159 we're gonna see that all day and we won't be 0:21:12.200 --> 0:21:14.600 able to use that money. So, if you're gonna get 0:21:14.600 --> 0:21:17.639 a gift from a family member or meeting, or a parent, 0:21:18.040 --> 0:21:20.560 a sibling, you have to make sure whatever amount that 0:21:20.600 --> 0:21:23.800 they're gifting you that they have that money in their 0:21:23.840 --> 0:21:27.560 account already. And then you're gonna need a completed loan application. 0:21:27.680 --> 0:21:30.640 Whatever lenda that you're going to do business with, they 0:21:30.680 --> 0:21:37.200 will be able to provide you with with that online 0:21:37.359 --> 0:21:43.960 loan application. So again, screenshot this, save it, and study this. 0:21:44.160 --> 0:21:47.680 All right? Okay, how do I go to the next one? 0:21:48.520 --> 0:21:52.960 I hate this Mac? All right, So let's let's go. 0:21:53.359 --> 0:21:58.440 Oh you see stupid Mac? All right, here we go. 0:21:59.040 --> 0:22:01.480 I'm giving you out a juice early. All right. Now, 0:22:01.960 --> 0:22:05.760 now that you have your documents and you're ready to 0:22:05.880 --> 0:22:09.320 go to get pre approved, But I need you guys 0:22:09.320 --> 0:22:13.879 to understand the difference between a regular traditional pre approval 0:22:14.400 --> 0:22:18.280 and the fully underwritten pre approval. Is right, A regular 0:22:18.320 --> 0:22:24.199 preapproval is basically a letter that is issued by a 0:22:24.240 --> 0:22:28.600 loan officer at the bank. They have reviewed your income, 0:22:28.960 --> 0:22:33.080 your assets, your credit report, and they have determined that 0:22:33.200 --> 0:22:37.280 based off of their calculations, that you can get X, 0:22:37.359 --> 0:22:40.879 Y and Z amount of money. This is not a 0:22:40.920 --> 0:22:43.880 commitment to lend from the bank. I need you guys 0:22:43.920 --> 0:22:47.040 to all understand that a loan officer like myself, although 0:22:47.080 --> 0:22:52.359 I am a great loan officer, I do not issue 0:22:52.400 --> 0:22:55.160 loan commitments. The only person that can issue a loan 0:22:55.200 --> 0:22:58.679 commitment on behalf of a bank is an underwriter. So, 0:22:59.240 --> 0:23:02.280 to be quite honest with you, that pre approval letter 0:23:02.320 --> 0:23:05.119 that even myself and my team is going to give you, 0:23:06.280 --> 0:23:09.000 it's not worth the paper is printed on because people 0:23:09.040 --> 0:23:12.640 can have a pre approval letter and still get declined 0:23:12.960 --> 0:23:16.800 once they get into contract for a house to buy. 0:23:16.920 --> 0:23:22.760 This happens every single day nationwide. The reason being sometimes 0:23:22.800 --> 0:23:26.320 loan officers make mistakes and they do not calculate your 0:23:26.359 --> 0:23:31.119 income properly. These things happen all the time, So I 0:23:31.160 --> 0:23:35.800 need you guys to understand pre approvals are worthless. Although 0:23:35.920 --> 0:23:38.800 it is needed, it is needed, and I want you 0:23:38.800 --> 0:23:41.720 guys to please understand of what I'm really truly saying here, 0:23:43.359 --> 0:23:45.199 it is needed for you to go out there and 0:23:45.280 --> 0:23:47.439 shop for a home. This, that, and a third. It 0:23:47.440 --> 0:23:49.360 gives you an idea. If you got a great loan 0:23:49.400 --> 0:23:51.320 officer like me. I like to tell people my pre 0:23:51.359 --> 0:23:54.199 approvals are solid goal because I pre underwrite because of 0:23:54.240 --> 0:23:57.920 my skill set, right, But not every loan officer is 0:23:57.920 --> 0:24:01.639 built the light. So what I always recommend and my 0:24:01.760 --> 0:24:05.920 team office and service also is a fully underwritten pre approval. 0:24:06.400 --> 0:24:09.840 This basically means that the loan officer not only did 0:24:09.880 --> 0:24:16.240 he review your income, credit documentation, etc. He now he's 0:24:16.280 --> 0:24:18.320 going to pack he or she is going to package 0:24:18.400 --> 0:24:21.440 up that loan as if you're in contract. And then 0:24:21.440 --> 0:24:25.119 now they're going to submit that loan to underwriting and 0:24:25.440 --> 0:24:29.000 the address is going to be a TBD address to 0:24:29.119 --> 0:24:32.560 be determined. And now the underwriting department from the lender, 0:24:33.160 --> 0:24:36.399 they will actually review your file as if it's a 0:24:36.480 --> 0:24:40.240 real deal, meaning you have executed contracts of sale. They're 0:24:40.240 --> 0:24:42.920 going to review it and they're going to issue what's 0:24:42.920 --> 0:24:49.479 called the conditional mortgage approval or conditional loan commitment. And 0:24:50.280 --> 0:24:54.680 this means that the lender is committing that they will 0:24:54.720 --> 0:24:58.399 give you x, Y and z amount of dollars based 0:24:58.400 --> 0:25:01.560 off of you meeting these conditions. Now, when we get 0:25:01.600 --> 0:25:04.560 laid into this presentation, we're going to talk about the 0:25:04.640 --> 0:25:07.840 underwriting process and conditions and things of that nature. But 0:25:08.000 --> 0:25:11.240 what I love about having a fully underwritten pre approval. 0:25:12.280 --> 0:25:16.639 This gives you all the work done upfront, so you 0:25:16.760 --> 0:25:20.159 know exactly what the lender wants to see to close. 0:25:20.640 --> 0:25:22.560 Three things they going to want to see is a 0:25:22.600 --> 0:25:27.560 contract to sale, a clean tider report, and the appraisal. Right, obviously, 0:25:27.560 --> 0:25:30.119 you don't get those things until you sign contract, but 0:25:30.200 --> 0:25:33.639 you'll have everything else that that underwriter likes or doesn't 0:25:33.760 --> 0:25:37.760 like on that conditional mortgage approval letter. So now you 0:25:37.800 --> 0:25:41.720 can start working on that credit approval side while you're 0:25:41.720 --> 0:25:44.680 out here shopping. And also once you get so let's 0:25:44.680 --> 0:25:46.720 just say they want a lot of explanation, they want 0:25:46.760 --> 0:25:49.560 to see the gift funds, etc. Etc. You can can 0:25:49.680 --> 0:25:53.920 submit all these what we call conditions to the underwriting 0:25:53.960 --> 0:25:57.000 department and they'll clear those conditions so that way, by 0:25:57.080 --> 0:25:59.960 time you find a house, only thing you need is 0:26:00.040 --> 0:26:02.520 probably three or four things and you can close. Now, 0:26:02.520 --> 0:26:05.480 what this is going to do, and I'm highly recommending 0:26:05.560 --> 0:26:08.560 everybody who's watching this live and who's going to watch 0:26:08.600 --> 0:26:11.000 this on the replay. If you're buying a house in 0:26:11.040 --> 0:26:13.720 today's market, if you want to be competitive, you need 0:26:13.760 --> 0:26:16.919 a fully underwritten per approval letter because this is going 0:26:17.000 --> 0:26:20.399 to give you that ability to close fast two to 0:26:20.520 --> 0:26:24.520 three weeks. Right in most markets, people are still waving 0:26:24.600 --> 0:26:29.400 financing contingencies, meaning they don't if they don't, they're waving 0:26:29.520 --> 0:26:34.320 their right to financing. So if they get declined by bank, 0:26:34.359 --> 0:26:36.320 it doesn't matter. They still have to buy a loan. 0:26:36.880 --> 0:26:41.040 So when you are in and that's typically for cash buyers, 0:26:41.040 --> 0:26:43.159 you see that. But you have some buyers who are 0:26:43.160 --> 0:26:46.760 getting financing, who are going through this process are also 0:26:46.840 --> 0:26:49.720 waving their financing contingencies because they know they have a 0:26:49.760 --> 0:26:54.119 mortgage already. All right, So this gives you a competitive advantage, 0:26:54.200 --> 0:26:57.639 especially if you're someone who's putting down three point five 0:26:57.800 --> 0:27:02.359 five percent down payment in today's market. All right, Now, 0:27:02.640 --> 0:27:05.400 this is all going to be hard credit polls pre approvals. 0:27:05.400 --> 0:27:09.080 Whether you go with a fully underwritten pre approval or 0:27:09.280 --> 0:27:18.200 traditional pre approval, it's all hard polls. Okay, pause, Hiring 0:27:18.280 --> 0:27:22.119 the right lender, all right, Hiring the right lender is 0:27:22.240 --> 0:27:25.639 very important. Like I said to you guys earlier, not 0:27:26.240 --> 0:27:31.480 all loan officers are built alike. Now, these are the 0:27:31.520 --> 0:27:34.119 three types of companies that originate loans. And I always 0:27:34.160 --> 0:27:36.359 get the question of what's the difference between a broker 0:27:36.359 --> 0:27:38.920 and a banker and the retail thing. So I want 0:27:38.960 --> 0:27:41.960 you guys to screenshot this slide or so so that 0:27:42.080 --> 0:27:43.919 way you can go back and you can reference this 0:27:44.000 --> 0:27:48.400 on your own. A mortgage broker is basically a middleman, right. 0:27:49.000 --> 0:27:52.080 A mortgage broker does not lend money they're going to 0:27:52.960 --> 0:27:57.120 They are on board or signed up with several lenders 0:27:57.520 --> 0:28:00.480 and their job is to quote unquote shot through those 0:28:00.560 --> 0:28:04.280 lenders to see who you can get the best deal with. Right. 0:28:05.359 --> 0:28:10.960 A mortgage banker is like MG where we lend, we process, 0:28:11.040 --> 0:28:15.920 we underwrite, we fund, we do everything in house. Okay, 0:28:16.560 --> 0:28:21.120 but we also sell the loan too the retail big bank, 0:28:21.160 --> 0:28:24.320 because we're not set up for servicing. The retail big 0:28:24.320 --> 0:28:27.920 bank is more so like the Chase, the Wells Fargos 0:28:27.960 --> 0:28:31.760 of the world, where they offer more products, not just mortgages. 0:28:31.800 --> 0:28:36.480 They'll offer you check in savings accounts, personal loans, auto loans. 0:28:36.520 --> 0:28:38.520 You know, credit unions will kind of fit into this 0:28:38.600 --> 0:28:42.800 category as well. All right, now, the difference between the 0:28:42.880 --> 0:28:46.520 all three look. First of all, I want to just 0:28:46.560 --> 0:28:50.360 make this clear. When you're working with any company a 0:28:50.520 --> 0:28:53.840 Chase of Wells Fargo, you know, a loan depot, any 0:28:53.880 --> 0:28:56.040 of the big brand names like the Quick and loans 0:28:56.040 --> 0:28:58.600 of Rocket Mortgages, whatever you see out there, you have 0:28:58.680 --> 0:29:01.480 to remember you're not working with that company. You're working 0:29:01.520 --> 0:29:03.880 with the loan officer. So you have to make sure 0:29:03.920 --> 0:29:08.000 that you're interview on these loan officers right to make 0:29:08.040 --> 0:29:12.080 sure that they fully are capable of helping you achieve 0:29:12.120 --> 0:29:14.480 your real estate goal. If you are looking to buy 0:29:14.520 --> 0:29:17.440 your first primary residence, one of the questions that people 0:29:17.440 --> 0:29:20.320 always ask me, you're Matt, what questions do you ask 0:29:20.400 --> 0:29:24.080 when you are interviewing these people? I always tell people 0:29:24.120 --> 0:29:26.680 to ask questions you already know the answer to. But 0:29:26.800 --> 0:29:29.320 the very first question should be, if you're buying your 0:29:29.400 --> 0:29:33.800 primary house, ask them are they a homeowner? Very simple? 0:29:34.920 --> 0:29:37.239 Are you a homeowner? If you're looking to buy an 0:29:37.280 --> 0:29:41.800 investment property, ask them do you own investment properties? Currently? 0:29:43.160 --> 0:29:44.960 I am of the firm belief, and this is no 0:29:45.040 --> 0:29:48.120 disrespect to anybody in my industry who does not own 0:29:48.120 --> 0:29:50.760 a home or investment properties right now. But I am 0:29:50.800 --> 0:29:52.880 on the firm belief that if you are going to 0:29:52.960 --> 0:29:58.960 work with someone, they should actually own real estate right 0:29:59.600 --> 0:30:03.680 because how can they really identify with you right in 0:30:03.960 --> 0:30:07.240 the process of what you're going to go through. That's 0:30:07.360 --> 0:30:10.040 just me personally. So these are some of the questions 0:30:10.040 --> 0:30:12.840 that I would ask, and then ask them questions that 0:30:12.920 --> 0:30:16.040 you already know the answers to. Right. You may know 0:30:16.080 --> 0:30:18.120 a little bit about faha, you may know a little 0:30:18.160 --> 0:30:21.240 bit about conventional So ask them three or four things 0:30:21.240 --> 0:30:23.760 that you know the answer to like the back of 0:30:23.800 --> 0:30:26.240 your hand, and just see how they're going to answer 0:30:26.520 --> 0:30:30.320 those questions. You'll be surprised that a lot of people 0:30:30.520 --> 0:30:33.480 just don't know what they're doing. And by you asking 0:30:33.560 --> 0:30:35.840 questions you already know the answer to, you can kind 0:30:35.840 --> 0:30:38.600 of get an understanding of their knowledge base, and then 0:30:38.640 --> 0:30:40.320 you can kind of dig a little bit deeper from 0:30:40.320 --> 0:30:44.600 there and determine if he or she will be right 0:30:44.680 --> 0:30:46.400 to be a part of your real estate team, because 0:30:46.440 --> 0:30:48.800 you have to remember, guys, whether you're buying your first 0:30:48.800 --> 0:30:51.320 house or your tenth house, this is a business. Real 0:30:51.440 --> 0:30:53.200 estate is a business. If you can follow on your 0:30:53.200 --> 0:30:55.320 tax in terms of get tax deductions. It's a business. 0:30:55.320 --> 0:30:56.520 I don't care if you're gonna live in it. I 0:30:56.560 --> 0:30:58.760 don't care when nobody tells you. So you have to 0:30:58.800 --> 0:31:02.120 always remember you are the CEO of your business. You 0:31:02.400 --> 0:31:05.280 are in charge. You have to put your team together, 0:31:05.320 --> 0:31:11.360 and you have to make sure that everybody on your team, lenders, realtors, attorneys, 0:31:11.440 --> 0:31:15.920 whoever it is, everybody has your best interests in mind, 0:31:16.520 --> 0:31:19.400 all right, Always remember that. So these are the three 0:31:19.440 --> 0:31:22.360 types of companies that originate loans. Just one to give 0:31:22.360 --> 0:31:24.000 you guys a little bit game on this so you 0:31:24.040 --> 0:31:27.760 can kind of understand who's who are what are the players? 0:31:27.960 --> 0:31:33.680 All right, let's talk about some loan programs, all right, 0:31:33.720 --> 0:31:38.080 So I'm gonna stick to the usual suspects tonight. We 0:31:38.160 --> 0:31:42.080 got a minimum five eight's credit score for FHA, three 0:31:42.120 --> 0:31:47.040 point five percent down payment is required. Max sells concession 0:31:47.480 --> 0:31:50.200 is six percent. A sellers concession is one the seller 0:31:50.280 --> 0:31:56.680 agrees to pay a portion or all of your closing costs. Now, 0:31:56.720 --> 0:32:00.320 a sellers concession is not guaranteed. A sellers concent session, 0:32:01.040 --> 0:32:04.600 how gets included into your loan amount only if the 0:32:04.720 --> 0:32:08.160 house appraises for the higher value. So I'm gonna give 0:32:08.160 --> 0:32:11.600 you guys a quick example, and I'm gonna use easy numbers, 0:32:11.840 --> 0:32:15.240 just acting as an example. If you're buying a home 0:32:15.320 --> 0:32:18.240 for one hundred thousand dollars and you want to get 0:32:18.240 --> 0:32:23.840 a six percent sellers concession, which is six thousand dollars, right, 0:32:24.040 --> 0:32:27.280 a six percent sales concession six thousand dollars on one 0:32:27.360 --> 0:32:31.160 hundred k. That means one hundred and six thousand dollars 0:32:31.280 --> 0:32:34.240 is what your house, the house has to appraise for 0:32:34.720 --> 0:32:38.080 in order for you to get a sealers concession. And 0:32:38.160 --> 0:32:41.520 now your down payment is based off of the one 0:32:41.600 --> 0:32:45.320 hundred and six thousand, not the one hundred thousand. The 0:32:45.400 --> 0:32:48.760 seller will still net the one hundred, but those that 0:32:48.920 --> 0:32:52.280 six thousand is being is increasing your finance and so 0:32:52.320 --> 0:32:56.480 you can get a credit for your closing costs. That's 0:32:56.520 --> 0:32:59.120 how a sales concession works. So if you're in a 0:32:59.160 --> 0:33:03.760 competitive market like we are now, I believe the opportunity 0:33:03.840 --> 0:33:06.480 for buyers to get sellers concessions are going to come 0:33:06.520 --> 0:33:10.280 back as interest rates skyrocket. So I will encourage all 0:33:10.360 --> 0:33:13.520 my buyers who are watching this. Closed mouth does not 0:33:13.560 --> 0:33:17.720 get fed. I repeat, closed mouth does not get fed. 0:33:18.200 --> 0:33:20.840 It doesn't hurt the ask, but consult with your real 0:33:20.920 --> 0:33:24.240 estate professional who's making the office on your behalf to 0:33:24.280 --> 0:33:27.160 see what the market is dictating at that moment before 0:33:27.240 --> 0:33:32.080 you ask, because you don't want to put yourself at 0:33:32.080 --> 0:33:37.600 a disadvantage at the same time, all right, one to 0:33:37.640 --> 0:33:42.960 four family FAHA approved condos and mixed use properties are 0:33:43.040 --> 0:33:46.160 allowed with FAHA. Now, for those of you who do 0:33:46.240 --> 0:33:49.240 not know what a mixed use property is, this is 0:33:49.320 --> 0:33:53.920 basically a commercial building. It will have typically in the Northeast. 0:33:54.040 --> 0:33:57.760 How a mixed use property looks is a storefront on 0:33:57.880 --> 0:34:01.280 the bottom and residential units on a on the tottom. 0:34:01.720 --> 0:34:06.160 Think about your local bodeggas right, that is mixed use properties. 0:34:07.200 --> 0:34:09.279 The key with the mixed use properties for it to 0:34:09.280 --> 0:34:13.840 be approved for FHA, it cannot exceed four total units 0:34:14.239 --> 0:34:19.200 with the commercial and the residential, and the residential units 0:34:19.280 --> 0:34:23.680 have to be fifty one percent of the liverable square footage. 0:34:24.880 --> 0:34:29.279 So if you can find a mixed use property, this 0:34:29.320 --> 0:34:31.520 can be a gold mod for your first time home 0:34:31.600 --> 0:34:36.400 buyers because now commercial rent is going to be higher 0:34:36.400 --> 0:34:40.120 than residential, so eventually this will give you more cash flow. 0:34:40.640 --> 0:34:44.080 So this is a great opportunity for those buyers out 0:34:44.080 --> 0:34:47.439 there who live in areas where there are these type 0:34:47.440 --> 0:34:51.520 of properties. To buy a commercial building with as little 0:34:51.560 --> 0:34:56.800 as three point five percent down payment, all right, seventy 0:34:56.800 --> 0:34:59.040 five percent of the rental income can be used to 0:34:59.080 --> 0:35:02.320 help you qualify five on a two to four unit property. 0:35:03.000 --> 0:35:05.440 So easy numbers for you guys right now. So if 0:35:05.440 --> 0:35:08.880 the rental income is one thousand dollars, the lender will 0:35:09.000 --> 0:35:12.400 use seven hundred and fifty dollars of that thousand dollars 0:35:12.880 --> 0:35:16.279 to help you qualify for the loan, even if the 0:35:16.440 --> 0:35:22.680 property is vacant. Okay, three to four unit properties or 0:35:23.280 --> 0:35:27.920 triplex and quads in certain areas will require at minimum 0:35:27.960 --> 0:35:32.200 three months of reserves. What are reserves? MG Reserves are 0:35:32.760 --> 0:35:35.680 your mortgage payment times three. So if your mortgage payment 0:35:35.760 --> 0:35:38.360 is one thousand dollars a month, then you need to 0:35:38.400 --> 0:35:43.239 have at least three thousand dollars post closing, either in 0:35:43.320 --> 0:35:46.000 your checking, your savings, your brokerage, your four one K. 0:35:46.640 --> 0:35:51.120 It needs to be able to be liquidated, obviously, so 0:35:51.160 --> 0:35:53.000 the bank will want to see proof that you can 0:35:53.120 --> 0:35:56.200 liquidate it if needed to. But as long as you 0:35:56.320 --> 0:35:59.720 have it, then boom, you will qualify. Another thing about 0:36:00.239 --> 0:36:02.680 three or four family unit it's very important. I didn't 0:36:02.680 --> 0:36:06.160 put this on the slide. It's called the FHA self 0:36:06.160 --> 0:36:11.920 sufficiency Test. The FAHA self sufficiency test very important with 0:36:12.080 --> 0:36:15.840 this basically means that it doesn't matter if you qualify, 0:36:15.960 --> 0:36:18.200 you've been pre approved. If you're looking to buy a 0:36:18.200 --> 0:36:21.520 three to four family if that house is not self sufficient, 0:36:22.560 --> 0:36:25.799 then FAHA will not fund that three or four family unit. 0:36:26.040 --> 0:36:29.040 So for an example, let's just say if your mortgage 0:36:29.040 --> 0:36:33.640 payment is one thousand dollars a month, and you're buying 0:36:33.640 --> 0:36:37.680 a four family unit, and let's just say all of 0:36:37.719 --> 0:36:41.520 the rental unit on this property equals up to one 0:36:41.520 --> 0:36:45.280 thousand dollars a month, So let's just say two hundred 0:36:45.280 --> 0:36:47.760 and fifty dollars per unit. Again, I'm using real simple 0:36:47.840 --> 0:36:52.040 numbers for you guys. We're gonna use seventy five percent 0:36:52.080 --> 0:36:54.560 of that thousand dollars, which gives you seven hundred and 0:36:54.600 --> 0:36:58.600 fifty dollars. But your mortgage payment is one thousand dollars, 0:36:58.920 --> 0:37:02.080 So now that property is negative by two hundred and 0:37:02.080 --> 0:37:06.640 fifty dollars, So that property is not self sufficient. So 0:37:06.920 --> 0:37:13.160 after that seventy five percent value that's taken away the mortgage, 0:37:13.239 --> 0:37:16.360 that seventy five percent needs to be one thousand dollars 0:37:16.360 --> 0:37:19.560 minimum to cover. So in that case, you would need 0:37:19.600 --> 0:37:23.759 at least a fifteen hundred dollars mortgage at a very 0:37:24.120 --> 0:37:28.680 a fifteen hundred dollars rental income to qualify for the 0:37:28.840 --> 0:37:32.880 FHA self sufficiency test. So that's very important. Guys. For 0:37:32.960 --> 0:37:35.680 those of you out there who are looking to purchase 0:37:35.760 --> 0:37:39.080 three or four family profits with FHA, it's very important 0:37:39.120 --> 0:37:43.600 you understand the FHA self sufficiency test. If you have 0:37:43.680 --> 0:37:46.400 a pre approval for a three or four family, contact 0:37:46.400 --> 0:37:49.799 that loan officer and make sure that they understand the 0:37:49.920 --> 0:37:56.759 FHA self sufficiency test all right. Grants, gifts for one 0:37:56.840 --> 0:38:01.160 kids can be used, co signers can be use. Max 0:38:01.200 --> 0:38:04.200 loan amount are based on the FAHA county loan limits. 0:38:04.600 --> 0:38:07.200 Easy way to find your FAHA county loan limits is 0:38:07.360 --> 0:38:11.879 just google your county and just put you know, if 0:38:11.920 --> 0:38:14.160 I'm in Nasaal County right now, so I'll put Nasau 0:38:14.239 --> 0:38:18.839 County FAHA twenty twenty two loan limits and they'll come 0:38:18.920 --> 0:38:22.359 right up right. So, but you have to check case 0:38:22.400 --> 0:38:25.280 certain states like New York, this is a high cost area. 0:38:25.560 --> 0:38:27.879 We can get approved for more money like a four 0:38:27.960 --> 0:38:29.920 family we can go up to one point nine million. 0:38:30.480 --> 0:38:33.160 In other areas you can't go that high. So you 0:38:33.280 --> 0:38:36.280 have to really check to see if FHA will even 0:38:36.440 --> 0:38:40.520 allow because of those county loan limits. And most importantly, 0:38:41.760 --> 0:38:47.960 most importantly, FAHA is only for primary residents only. When 0:38:47.960 --> 0:38:50.440 you are speaking to a Linda, take the word investment 0:38:50.640 --> 0:38:55.120 out of your vocabulary. Yes, we know it's a multifamily 0:38:55.680 --> 0:38:58.759 and it will be a quart unquote investment, but you 0:38:58.880 --> 0:39:05.680 have to start using determinology owner occupied multi family and 0:39:06.080 --> 0:39:09.640 FAHA requires you to live in this for one year. 0:39:10.160 --> 0:39:12.480 After one year, if you want to move out and 0:39:13.680 --> 0:39:16.720 live your best life, go right ahead. But don't commit 0:39:16.719 --> 0:39:22.279 mortgage fraud. Guys, don't commit mortgage froud. All right, let's 0:39:22.280 --> 0:39:24.239 get busy. Let's talk about some student loans because a 0:39:24.239 --> 0:39:25.879 lot of you guys got student loans. If you got 0:39:25.880 --> 0:39:28.640 student loans loans, please type yes in the chat. Please. 0:39:29.000 --> 0:39:32.920 If you have student loans, please type yes in the chat. 0:39:33.640 --> 0:39:40.000 While I take some quick water break. Troy shot, I'm 0:39:40.000 --> 0:39:40.600 good on time. 0:39:42.800 --> 0:39:43.560 World is yours? 0:39:43.600 --> 0:39:44.359 Man? You know that? 0:39:44.360 --> 0:39:44.560 Man? 0:39:45.360 --> 0:39:46.279 All right, say no more. 0:39:46.880 --> 0:39:53.440 Don't commit mortgage fraud please number one. 0:39:54.120 --> 0:39:55.400 I had to say it three times. 0:39:55.400 --> 0:39:56.920 Bro, This is a message brought to you by the 0:39:56.920 --> 0:39:58.600 good folks that this. 0:39:58.600 --> 0:40:05.600 Is disclaimer guidelines. All right, So we got a lot 0:40:05.600 --> 0:40:07.520 of people on the YouTube chat that's talking about they 0:40:07.560 --> 0:40:09.719 got student loans. So then you guys need to go 0:40:09.760 --> 0:40:13.600 ahead and screenshot this if you are FAHA potential borrower. 0:40:13.920 --> 0:40:18.040 The great thing is FAHA changed the student loan guidelines 0:40:18.120 --> 0:40:20.560 about a year ago, which was a home run for 0:40:20.600 --> 0:40:23.439 you guys. This is breaking down the calculations of it, right. 0:40:23.760 --> 0:40:26.520 So FAHA uses the payment listed on the credit report 0:40:26.880 --> 0:40:29.799 or account statement, but if the loan is deferred or 0:40:29.920 --> 0:40:32.759 for barans, the lender would use half a point of 0:40:32.880 --> 0:40:35.360 the outstanding balance. Let me give you a couple examples. 0:40:35.719 --> 0:40:37.799 If the payment on your credit report, let's just say 0:40:37.840 --> 0:40:40.759 you owe two hundred thousand K and student loans and 0:40:40.800 --> 0:40:43.239 your credit report shows that your monthly payment is three 0:40:43.280 --> 0:40:47.080 hundred dollars, the lender will use the actual documented payment 0:40:47.120 --> 0:40:50.239 on your credit report three hundred dollars a year ago. 0:40:51.120 --> 0:40:53.879 A year ago that was not the case, the lender 0:40:53.880 --> 0:40:56.200 will probably use close to two thousand dollars or one 0:40:56.239 --> 0:41:00.160 percent rule right payment not on a credit report. If 0:41:00.200 --> 0:41:02.319 your payment, if your balance to your federal loans is 0:41:02.320 --> 0:41:05.040 fifty K and a monthly payment on your credit report 0:41:05.040 --> 0:41:08.120 is zero, the lender will still use two hundred and 0:41:08.160 --> 0:41:10.839 fifty dollars as your payment, will calculate it into your 0:41:10.880 --> 0:41:13.680 debt to income ratio although you have a zero payment. 0:41:14.000 --> 0:41:16.839 Why because we're using a half a point of that 0:41:17.120 --> 0:41:20.880 fifty thousand. A year ago we were using one percent, 0:41:21.400 --> 0:41:26.000 and it will be five hundred dollars incorporated into your 0:41:26.040 --> 0:41:29.839 debt to income ratio if the payment is zero on 0:41:29.880 --> 0:41:32.960 your credit report. Let's say you owe seventy K and 0:41:33.040 --> 0:41:35.560 federal loans and your credit report shows a monthly payment 0:41:35.560 --> 0:41:38.520 is zero. The lender will use three hundred and fifty 0:41:38.560 --> 0:41:43.000 dollars for your payment, unless you acts the servicer to 0:41:43.040 --> 0:41:47.320 recalculate the payment due to a significant change or family size. 0:41:47.360 --> 0:41:49.839 That can be known as an income based repayment plan. 0:41:50.440 --> 0:41:53.680 Right if your loan is in deferment. If you all 0:41:53.840 --> 0:41:56.279 hundred K federal loans and your credit report shows that 0:41:56.320 --> 0:41:58.799 the loans aren't deferment, the loan officer you will use 0:41:58.840 --> 0:42:02.239 five hundred dollars as your actual monthly payment unless you 0:42:02.280 --> 0:42:05.360 can document from the servicer that you have a lower 0:42:05.360 --> 0:42:10.320 payment under income driven repayment plan when that deferment ends. 0:42:10.719 --> 0:42:16.200 So guys, these rules completely change and FAHA and conventional 0:42:16.280 --> 0:42:19.080 had boxed out so many people with student loans because 0:42:19.080 --> 0:42:22.839 of the stupid as one percent calculation, right, even though 0:42:22.840 --> 0:42:26.120 you wasn't paying that much, we still had to calculate 0:42:26.200 --> 0:42:30.520 one percent. With these new options, that's available for you. 0:42:30.880 --> 0:42:37.720 The government understood and understands that it's difficult for people 0:42:37.800 --> 0:42:39.800 who are going to school and coming out with large 0:42:39.800 --> 0:42:43.319 debt to buy real estate. So they're trying to encourage 0:42:43.520 --> 0:42:47.600 home ownership. So they change the guidelines, which I think 0:42:47.719 --> 0:42:50.680 is a home run for everybody who typed yes and 0:42:50.800 --> 0:42:55.000 chat that they have student loans. So again, screenshot this 0:42:55.760 --> 0:43:01.800 study it and let's move forward. Let's talk about student 0:43:01.840 --> 0:43:04.600 loans that are collections. A lot of you are in collections. 0:43:05.120 --> 0:43:09.000 You are default on your student loans. Please understand, if 0:43:09.040 --> 0:43:11.680 you are in collections or default, you will not get 0:43:11.719 --> 0:43:15.319 a loan until you take those student loans out of 0:43:15.480 --> 0:43:20.840 the firm out of default or collection status. So please, please, please, 0:43:21.800 --> 0:43:24.200 even if it's not popping up on your credit report, 0:43:24.800 --> 0:43:28.600 remember lenders are doing basic they're basically doing background checks. 0:43:29.120 --> 0:43:31.960 We run a system called caveas we will find that 0:43:32.040 --> 0:43:35.560 you have some debt, some student loan debt, and we 0:43:35.640 --> 0:43:38.960 will tell you no your decline. So if you know 0:43:39.000 --> 0:43:42.680 you have that debt, work out some payment arrangement and 0:43:43.160 --> 0:43:48.600 move forward. How to fund grants? I want you to 0:43:48.680 --> 0:43:53.440 all screenshot this, Okay, I want you to all screenshot 0:43:53.520 --> 0:43:56.160 this website. And I'm actually gonna try to go to 0:43:56.160 --> 0:44:01.320 this website. Let's see. Can Y still see my screen? 0:44:05.120 --> 0:44:06.960 All right? So let me see it. I'm gonna move 0:44:07.000 --> 0:44:12.600 this damn how you move this stupid zoom bar? Ya 0:44:12.640 --> 0:44:15.399 who said the Mac was good? Shout out the Apple though, 0:44:16.400 --> 0:44:17.240 But I can't. 0:44:17.600 --> 0:44:19.880 Just click clicked one of those things, right and the 0:44:20.080 --> 0:44:20.920 type the website. 0:44:21.360 --> 0:44:23.840 No, I haven't already opened, but I can't move the 0:44:23.880 --> 0:44:32.360 stupid bar. Uh all right, why is the bar not moving? 0:44:33.360 --> 0:44:33.520 Ah? 0:44:33.640 --> 0:44:35.120 There we go? There we go, There we go, there 0:44:35.160 --> 0:44:38.480 we go. Bat here we go? All right? Can I 0:44:38.600 --> 0:44:44.680 still see my screen? So we at the local home buying? Right? 0:44:44.719 --> 0:44:47.440 So remember I was just here. This is the website. 0:44:47.719 --> 0:44:49.440 Let me go back to it real quick. As you 0:44:49.480 --> 0:44:51.719 can tell. I'm not that computer savvy, So I'm back 0:44:51.760 --> 0:44:54.840 at the website. Hud dot gov. Hot, hud dot gov. 0:44:55.080 --> 0:44:59.759 Forward slash buying, forward slash local buying. Somebody typed that 0:44:59.840 --> 0:45:05.120 in chat hud dot gov forward slash buying, forward slash 0:45:05.360 --> 0:45:10.239 local buying. All right, Ari, I see you in the 0:45:10.360 --> 0:45:13.959 YouTube chat that put that link in the chat for me, Ari. 0:45:14.800 --> 0:45:16.880 So this is the website. This is what it looked like. 0:45:17.160 --> 0:45:19.239 A lot of people don't even understand that there's a 0:45:19.239 --> 0:45:22.719 lot of money out there, especially through a lot of 0:45:22.760 --> 0:45:25.880 local programs, and people are always asking me, how do 0:45:25.920 --> 0:45:29.000 you find this money? Well, this is one website that 0:45:29.040 --> 0:45:31.360 people don't know. And you see you have all fifty 0:45:31.400 --> 0:45:36.200 states right here. So I'm going to pick a state, right, Uh, 0:45:36.600 --> 0:45:38.319 give me a state. Somebody give me a state, Troy, 0:45:38.320 --> 0:45:38.839 give me a state. 0:45:40.800 --> 0:45:42.200 Uh, California. 0:45:42.520 --> 0:45:47.960 Let's go to Cali, California. All right, So we're in Cali. 0:45:48.440 --> 0:45:50.520 So you see it says home ownership. You got to 0:45:50.560 --> 0:45:53.160 getting started. So if you look right here, it says 0:45:53.160 --> 0:45:55.480 buying a home. So you can even see if you 0:45:55.520 --> 0:45:57.399 got HUD homes for sale right here, you got home 0:45:57.440 --> 0:46:01.120 ownership vouchers right there. Right, you even got stuff for 0:46:01.160 --> 0:46:05.080 home repairs and avoiding foreclosure. But let's talk about assistance 0:46:05.120 --> 0:46:08.040 and programs. Click on that now as you see here 0:46:08.600 --> 0:46:12.279 homeowners Ship Assistance for California. You've got state wide and 0:46:12.320 --> 0:46:16.879 regional programs, and you have all the programs right here. 0:46:17.160 --> 0:46:21.319 How you can even go by sort by city or county. Right, 0:46:21.360 --> 0:46:26.200 So let's go sorted by county. Where's La la is. 0:46:27.520 --> 0:46:31.480 Let's see, let's take it. Let's go to Fresno. Let's 0:46:31.480 --> 0:46:34.359 see what's in Fresno. No, it wants me to leave. 0:46:34.440 --> 0:46:36.200 I'm not gonna take no chance. I'm not gonna leave 0:46:36.239 --> 0:46:38.439 the website because I don't know of it. But y'all 0:46:38.440 --> 0:46:41.080 see how easy that is. Right, Let's go to Let's 0:46:41.120 --> 0:46:44.359 go to another state. Right, let's go to Illinois. Since 0:46:44.360 --> 0:46:48.120 it's right here, same thing, real easy to find. Look 0:46:48.160 --> 0:46:52.960 for buying for a home. Homeownership assistant programs. You go 0:46:53.120 --> 0:46:56.600 right here, you scroll down. You got all the state 0:46:56.600 --> 0:47:01.160 wide and region new programs all right here for you guys. 0:47:01.719 --> 0:47:05.680 Programs by the city. You got contact information right here. 0:47:06.280 --> 0:47:09.279 You got who you can contact for what city it's in. 0:47:10.040 --> 0:47:13.560 It's all right here, ladies and gentlemen, it's all right here, 0:47:14.120 --> 0:47:17.280 right under your nose. And they don't talk about this stuff, 0:47:17.719 --> 0:47:20.600 and it's very simple and easy to find. I'm gonna 0:47:20.600 --> 0:47:23.439 go to New York because we're in New York, right 0:47:23.560 --> 0:47:26.440 assistance and programs, and then you have all the New 0:47:26.520 --> 0:47:30.600 York programs and even by city by town, you got 0:47:30.640 --> 0:47:34.239 Long Island, New York, Hudson Valley upstate, and you have 0:47:34.360 --> 0:47:38.440 contact numbers, you have websites, emails. I mean, you have 0:47:38.520 --> 0:47:41.239 everything that you need up here to find you some 0:47:41.280 --> 0:47:46.520 free money, all right, everything you need up here to 0:47:46.640 --> 0:47:48.560 find your money. And New York got a lot of money. 0:47:48.760 --> 0:47:52.000 You see how long that list was. So this is 0:47:52.040 --> 0:47:55.400 what I wanted to explain to you guys. You have 0:47:55.520 --> 0:47:58.000 to do your homework, you have to do your due diligence. 0:47:58.040 --> 0:47:59.480 And this is why I want to take you to 0:47:59.520 --> 0:48:02.799 the webstite versus me just having this on my PowerPoint 0:48:03.040 --> 0:48:06.320 because I want you guys to be able to find 0:48:06.360 --> 0:48:10.680 this stuff on your own. All right. So again, the 0:48:10.719 --> 0:48:17.239 website is hud dot gov forward slash Buying, forward slash 0:48:17.520 --> 0:48:25.560 local Buying. Okay, there you have it, and mothershad voice, 0:48:25.920 --> 0:48:29.319 let's get the conventional financing we're heating up now. Six 0:48:29.440 --> 0:48:32.440 to twenty minimum credit score, minimum down payment, three to 0:48:32.480 --> 0:48:35.360 fifteen percent, depending on what type of property you're buying, 0:48:35.360 --> 0:48:39.480 whether it's a one family or multifamily who max Sell's 0:48:39.480 --> 0:48:41.920 concession allowed is three percent. You can buy one to 0:48:41.960 --> 0:48:46.160 four family and fanymake approved condos and co ops and 0:48:46.200 --> 0:48:49.799 input coops up there with co ops as well. Max 0:48:49.840 --> 0:48:53.040 loan amount is based on Fandymade loan limits. Again, all 0:48:53.040 --> 0:48:56.160 you have to do is google Fany Maade twenty twenty 0:48:56.200 --> 0:49:00.440 two loan limits and you will have all the information 0:49:00.520 --> 0:49:04.200 you need right there. Grants gifts and for one K 0:49:04.520 --> 0:49:07.600 is allowed, you have to live in the property for 0:49:07.680 --> 0:49:12.440 one year if it is your primary residence. Also, now 0:49:13.000 --> 0:49:15.800 we're going to take you back to another website. Now, 0:49:16.640 --> 0:49:18.560 before we get there, let's talk about the Fanny Man 0:49:18.680 --> 0:49:22.359 Freddie Mac's student loan guidelines. It's pretty much the same thing, 0:49:22.400 --> 0:49:26.000 but I like freddie guidelines better. So, if you are 0:49:26.840 --> 0:49:31.160 going conventional and it's student loans, listening on a credit 0:49:31.239 --> 0:49:36.840 report is zero or if it's deferred or forbearance, the 0:49:36.960 --> 0:49:41.120 lender is going to use the one percent balance to 0:49:41.280 --> 0:49:44.560 calculate it. So if you have that situation, you probably 0:49:44.600 --> 0:49:46.680 don't want to go Fannie May. You want to go 0:49:46.760 --> 0:49:50.399 Freddie Mac because Freddie Mac is like Faha, where they'll 0:49:50.480 --> 0:49:53.840 use a half a percent of the loan balance to qualify. 0:49:53.960 --> 0:49:56.279 So the examples that I give you guys early on 0:49:56.320 --> 0:49:59.160 how to calculate is the same exact for both Fannie 0:49:59.160 --> 0:50:02.480 Mae and Freddie Mac. But if you're going conventional with 0:50:03.680 --> 0:50:07.200 student loans, your best bet is to act the lender 0:50:08.120 --> 0:50:11.120 or tell the lender not even ask, because you're the boss. 0:50:11.520 --> 0:50:14.280 You tell the lender you need to have a Freddie 0:50:14.360 --> 0:50:19.920 Mac backed conventional mortgage because of yours through the loans. Okay, 0:50:20.040 --> 0:50:23.200 and yes, for those on YouTube, will keep acting. Will 0:50:23.239 --> 0:50:26.759 this be saved on the channel? Yes it will. This 0:50:26.920 --> 0:50:31.920 is free game University right now. You're welcome. All right. 0:50:32.400 --> 0:50:35.240 Two of my favorite programs with Fannie Mae and Freddie 0:50:35.239 --> 0:50:40.000 Mac is Fanny Made Home Style and Freddie Mac Home Possible. 0:50:40.840 --> 0:50:44.240 Let's go to the websites. Let's go to home Ready first. 0:50:44.280 --> 0:50:47.920 So all you gotta do is Google Fannie May Home Ready. 0:50:48.600 --> 0:50:52.480 Go to Google, and all you will see the websites 0:50:52.480 --> 0:50:54.560 will come to the top now and bring you to 0:50:55.040 --> 0:50:59.400 this website on purpose, because it's very important that you 0:50:59.600 --> 0:51:04.520 understand in these programs and what these websites look like, right, 0:51:05.520 --> 0:51:09.840 because these websites, these websites are very, very very important 0:51:09.840 --> 0:51:13.000 for you to navigate. You have all the information that 0:51:13.120 --> 0:51:17.480 you will need, all these websites right here alone. So 0:51:17.480 --> 0:51:19.480 I'm gonna get you guys a little bit familiar with 0:51:19.520 --> 0:51:24.720 this now when you're dealing with Freddie mac all Fanny 0:51:24.800 --> 0:51:29.919 Made Home Possible. This is all income based, all right, 0:51:30.480 --> 0:51:32.480 so what I mean by it? And this is the 0:51:32.520 --> 0:51:38.439 home Possible website, right, Just get you guys a little 0:51:38.440 --> 0:51:41.080 bit familiar on how it looks. But let me go 0:51:41.160 --> 0:51:43.600 back here, right, So let me google something. So let 0:51:43.600 --> 0:51:53.759 me go Fanny May uh, Fanny May May income limits right, 0:51:55.239 --> 0:52:03.279 Fanny May Home Possible Home Ready income limits right. So 0:52:03.719 --> 0:52:09.680 this medium income is very important. So if you're looking 0:52:09.719 --> 0:52:13.600 to get qualified for this home I mean, for this program, 0:52:14.040 --> 0:52:17.320 you have to let me just hit this. You can't 0:52:17.360 --> 0:52:22.640 make more than eighty percent of the area medium income, 0:52:23.600 --> 0:52:26.640 all right. So again, how I got to this is 0:52:26.760 --> 0:52:29.799 all the thing I did was google Fannie May Home 0:52:29.920 --> 0:52:35.560 Ready income tool and this map will show up. Now 0:52:35.600 --> 0:52:38.160 I'm a punch in the zip code. I am in 0:52:38.320 --> 0:52:40.440 valid stream right now, so I'm going to type in 0:52:40.520 --> 0:52:44.759 valid stream zip cold and now you're going to see 0:52:44.760 --> 0:52:46.480 it's going to come here and it's going to bring 0:52:46.520 --> 0:52:49.239 the map of valid stream. Now it's telling me the 0:52:49.360 --> 0:52:51.880 area medium income in my area where I'm at right 0:52:51.920 --> 0:52:55.440 now is ninety nine thousand. But in order to qualify 0:52:56.239 --> 0:53:01.640 for this loan, my income cannot exceed seventy nine thousand, 0:53:02.000 --> 0:53:06.799 six hundred. All right, so that's eighty percent of that 0:53:06.920 --> 0:53:11.480 ninety nine thousand. You can do this for anywhere in 0:53:11.520 --> 0:53:16.719 the country to see what's your income. What's what's west 0:53:16.800 --> 0:53:18.239 Chester zip Co? Y'all? 0:53:20.800 --> 0:53:23.680 One zero six zero three, All. 0:53:23.640 --> 0:53:27.200 Right, let's do one zero You said one zero six 0:53:27.320 --> 0:53:32.480 zero three, Yeah, one zero six zero three. Why that's 0:53:32.480 --> 0:53:33.040 not coming up? 0:53:33.920 --> 0:53:34.880 So don't do this like that. 0:53:37.680 --> 0:53:41.719 One O six oh three. Damn that shit ain't coming up. 0:53:42.960 --> 0:53:47.000 One O six oh six oh yeah seven one of. 0:53:47.000 --> 0:53:49.960 Them, damn and ain't liking y'all. 0:53:50.480 --> 0:53:52.280 That's the city that's probably well. 0:53:52.880 --> 0:53:55.040 Nah, this is everywhere, all right. Let me type in 0:53:56.160 --> 0:53:59.839 four two two. Let me just do Jamaica shout out 0:53:59.840 --> 0:54:05.840 the queens, Queens get the money, Jamaican, New York. Okay, 0:54:07.520 --> 0:54:09.799 it works better with an address, y'all. But I'm just 0:54:09.800 --> 0:54:12.799 trying to give you an idea. So Jamaica or they 0:54:12.800 --> 0:54:15.640 pulled up Southside, but it's all good. So we got 0:54:15.719 --> 0:54:19.719 ninety nine five hundred, eighty percent is still seventy nine 0:54:19.760 --> 0:54:22.000 to six hundred, So you guys, see how simple this is. 0:54:22.760 --> 0:54:26.120 This is this is the gross income that the lender 0:54:26.160 --> 0:54:28.640 is using, not your justic gross We're not looking at 0:54:28.680 --> 0:54:31.759 the tax returns. This is your gross income, not your 0:54:31.880 --> 0:54:33.800 net income. The only way is going to go for 0:54:33.920 --> 0:54:36.080 net income is if you're self employed and you're trying 0:54:36.080 --> 0:54:37.799 to get one of these loans. But this is the 0:54:37.840 --> 0:54:39.560 first step that you need to go to see if 0:54:39.560 --> 0:54:43.880 you even qualify for the Home Possible or Home Ready 0:54:43.920 --> 0:54:46.000 program because they both go off the same thing. So 0:54:46.040 --> 0:54:48.480 I want to show you, guys what this looked like 0:54:48.600 --> 0:54:52.799 in real time, so you are familiar with this. And 0:54:52.800 --> 0:54:56.160 this works best if you have an address. So if 0:54:56.200 --> 0:54:58.960 you're looking for properties and you're already preapproved, just punching 0:54:59.000 --> 0:55:01.520 any address in your right. 0:55:02.000 --> 0:55:06.360 Average average income in South Jamaica, Queens is ninety nine thousand. 0:55:06.120 --> 0:55:09.480 Dollars according to the government. The area medium income in 0:55:09.520 --> 0:55:12.040 the area is ninety nine thousand, five hundred correct. 0:55:14.600 --> 0:55:19.920 That's interesting, very. 0:55:18.280 --> 0:55:24.359 And these houses probably a million dollars go figure. So 0:55:25.040 --> 0:55:27.560 that's the website that you got to go to to 0:55:27.640 --> 0:55:30.719 see if you qualify and if you qualify, it's a 0:55:30.760 --> 0:55:34.960 great program, both of them. With Freddie Mack, which I 0:55:35.000 --> 0:55:38.879 loved more than the Home Ready is with Freddie Mack, 0:55:39.160 --> 0:55:41.120 you can put down as little as three to five 0:55:41.160 --> 0:55:45.520 percent with buying a two to four family property, which 0:55:45.560 --> 0:55:48.600 with conventional products, if you don't qualify for these programs, 0:55:48.600 --> 0:55:51.399 you'll have to put down fifteen to twenty percent. So 0:55:51.480 --> 0:55:55.640 I love the Home Possible program for that, and then 0:55:55.760 --> 0:55:59.759 also with the Fani Made Home Ready program, one of 0:55:59.800 --> 0:56:02.720 the things that I love is that they will allow 0:56:02.760 --> 0:56:08.279 you to use border income or or roommate income to 0:56:08.400 --> 0:56:11.360 help you qualify even if you're buying a one family property. 0:56:11.840 --> 0:56:14.480 So if you're buying a one family let's just say 0:56:14.520 --> 0:56:16.480 you was in college you had a roommate, you can 0:56:16.560 --> 0:56:19.799 document that you had a roommate and the roommate is 0:56:19.880 --> 0:56:25.560 going to move in with you right then you can 0:56:25.600 --> 0:56:28.120 have a quote unquote lease sign between you and that 0:56:28.200 --> 0:56:30.080 roommate and if they. 0:56:29.960 --> 0:56:33.239 Are This episode is brought to you by P and 0:56:33.280 --> 0:56:36.360 C Bank. A lot of people think podcasts about work 0:56:36.400 --> 0:56:40.320 are boring, and sure they definitely can be, but understanding 0:56:40.320 --> 0:56:43.360 a professional's routine shows us how they achieve their success 0:56:43.440 --> 0:56:47.560 little by little, day after day. It's like banking with 0:56:47.600 --> 0:56:50.239 P and C Bank. It might seem boring to save, 0:56:50.400 --> 0:56:53.720 plan and make calculated decisions with your bank, but keeping 0:56:53.760 --> 0:56:56.160 your money boring is what helps you live or more 0:56:56.239 --> 0:57:01.040 happily fulfilled life. P and C Bank Brilliantly since eighteen 0:57:01.120 --> 0:57:04.960 sixty five. Brilliantly Boring since eighteen sixty five is a 0:57:05.000 --> 0:57:08.279 service mark of the PNC Financial Service Group, Inc. 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To get your more visibility at 0:59:01.600 --> 0:59:07.240 indeed dot com slash pod katz thirteen, just go to 0:59:07.280 --> 0:59:12.360 Indeed dot com slash pod katz thirteen right now and 0:59:12.400 --> 0:59:14.960 support our show by saying you heard about indeed on 0:59:15.000 --> 0:59:19.560 this podcast. Terms and conditions apply. Hiring indeed is all. 0:59:19.440 --> 0:59:22.919 You need making paying let's say five hundred dollars a month. 0:59:22.960 --> 0:59:25.000 We can use seventy five percent of that five hundred 0:59:25.000 --> 0:59:27.560 to help you qualify. Now, a lot of you got roommates, 0:59:27.600 --> 0:59:32.200 and you don't know, right if you are unmarried and 0:59:32.280 --> 0:59:34.680 you have a boyfriend or a girlfriend and y'all live together, 0:59:35.360 --> 0:59:41.600 y'all have roommates. Read between the lines, back to the presentation. 0:59:46.040 --> 0:59:48.840 So that's the family made Freddie macmestyle. I hope you'll 0:59:48.880 --> 0:59:53.360 caught that little jim moving right along. Closing course. Let's 0:59:53.360 --> 1:00:00.440 talk about some closing course. All right, you know what. 1:00:00.640 --> 1:00:02.680 This is what I'm gonna do. Let's go back to 1:00:02.880 --> 1:00:07.280 Let's go back to this. Let me show y'all what 1:00:07.400 --> 1:00:13.320 a loan estimate looks like. Okay, this is what. Yeah, 1:00:13.360 --> 1:00:17.840 some of y'all YouTube got it. Roommates exactly, all right, 1:00:17.880 --> 1:00:20.240 So this is what This is a sample loan estimate. 1:00:21.560 --> 1:00:24.560 This is what you're gonna get from Alenda. Some will 1:00:24.600 --> 1:00:27.200 get you this before you even sign a contract on 1:00:27.240 --> 1:00:29.680 the house. I know, me and my team we issue 1:00:29.680 --> 1:00:35.400 loan estimates only when you have a contract. If you want, 1:00:35.920 --> 1:00:38.440 of course breakdown, we'll give you what's called the closing 1:00:38.480 --> 1:00:41.160 course worksheet, which is not a loan estimate, but it 1:00:41.200 --> 1:00:44.080 gives you an idea of what the fees are. So 1:00:44.680 --> 1:00:46.480 I want to show this to you so you guys 1:00:46.520 --> 1:00:50.200 can get familiar of what you're looking at. Right, So 1:00:50.440 --> 1:00:52.200 on the top left hand side, you're going to have 1:00:52.240 --> 1:00:54.560 whoever the bank is, the bank's address is going to 1:00:54.560 --> 1:00:56.800 show you the date that the loan estimate was issued. 1:00:57.120 --> 1:01:00.680 The applicants is you with the property address is the 1:01:00.880 --> 1:01:04.520 estimated property value. It'll tell you what your loan terms are, 1:01:05.280 --> 1:01:08.000 the purpose of it, what type of product you have. 1:01:08.080 --> 1:01:10.880 So if it's a thirty yet fixed mortgage, it'll tell 1:01:10.880 --> 1:01:13.080 you that it was a thirty year fixed mortgage. If 1:01:13.080 --> 1:01:16.800 it's a FHA conventional VA, one of these boxes right 1:01:16.800 --> 1:01:19.920 here will be checked. It'll tell you your loan number, your 1:01:19.960 --> 1:01:24.360 loan ID, and most importantly is the rate locked or not? Okay? 1:01:24.560 --> 1:01:26.320 And if it is locked, as you can see here 1:01:26.360 --> 1:01:29.720 on this example, it tells you until what time that 1:01:29.880 --> 1:01:33.960 it is locked? Okay? Scrolling down, you have your loan terms, 1:01:34.160 --> 1:01:37.200 your loan themount, your interest rate, your monthly principal and 1:01:37.280 --> 1:01:40.040 interest payment. The principal interest is what you're paying back 1:01:40.080 --> 1:01:42.120 to the bank. It'll tell you if you have a 1:01:42.160 --> 1:01:44.480 pre payment penalty you or not, if it's a balloon 1:01:44.560 --> 1:01:46.360 payment or not. You're not going to see this in 1:01:46.400 --> 1:01:48.919 regular traditional loans, so don't worry about that right now. 1:01:49.680 --> 1:01:52.840 If you have mortgage insurance, you'll see it right here 1:01:54.320 --> 1:01:57.400 on your payment projected payments. It'll tell you if it's 1:01:57.960 --> 1:02:00.960 mortgage insurance, and if it was, there'll be a number 1:02:01.040 --> 1:02:03.240 listed right here with says zero, and then in this 1:02:03.360 --> 1:02:05.680 column right here, it will tell you what year is 1:02:05.720 --> 1:02:08.840 projected to fall off. Very important if you're taking out 1:02:08.880 --> 1:02:14.040 loans with mortgage insurance that you are paying attention to 1:02:14.200 --> 1:02:20.200 this right Your escrow is to manage your property taxes 1:02:20.280 --> 1:02:23.760 and the homeowner's insurance ESCRO. Let me say this, and 1:02:23.760 --> 1:02:25.919 I'm gonna say this loud and clear for everybody who 1:02:26.000 --> 1:02:29.480 is listening. ESCRO is subject to change on an annual basis. 1:02:29.880 --> 1:02:33.080 So whatever mortgage payment that you gotta start off with today, 1:02:33.960 --> 1:02:36.080 that will not be your mortgage payment in a year 1:02:36.600 --> 1:02:40.919 because taxes will go up, homeowner's insurance will go up, 1:02:41.240 --> 1:02:44.160 and that means your mortgage payment is going to go up. 1:02:44.200 --> 1:02:47.400 So although you have a thirty year fixed mortgage, the 1:02:47.440 --> 1:02:50.920 only thing that is fixed is that principal and interest payment. 1:02:51.240 --> 1:02:54.920 Your escro is subject to change. Now here's a tip. 1:02:55.520 --> 1:02:58.560 Every single year, you're gonna get what's called the escrow analysis. 1:02:58.760 --> 1:03:01.120 The bank is going to send it to you. Please 1:03:01.480 --> 1:03:04.880 read it. Learn to understand that, because that is telling 1:03:04.880 --> 1:03:09.240 you exactly what's happening in that escrow account. Depending on 1:03:09.280 --> 1:03:11.840 when your taxes are doing where you live, some taxes, 1:03:11.840 --> 1:03:15.560 some property taxes are due quarterly, some are done semi annually, 1:03:15.680 --> 1:03:19.160 some are done angrily. The town is going to send 1:03:19.200 --> 1:03:23.440 you a tax bill. Although the bank is responsible for 1:03:23.480 --> 1:03:25.400 paying it, the town still has to send you with 1:03:25.440 --> 1:03:28.080 the bill is for the upcoming year. When you see 1:03:28.160 --> 1:03:31.200 your bill, if you do not agree with it, you 1:03:31.320 --> 1:03:34.440 can't call the town and start a process called grieving 1:03:34.520 --> 1:03:38.720 your taxes a grievance okay, which can potentially lower your 1:03:38.760 --> 1:03:42.200 property taxes down. But that is a process and it's 1:03:42.240 --> 1:03:45.520 not guaranteed to lower your property taxes. But I just 1:03:45.520 --> 1:03:48.120 want to make you guys aware of what is out 1:03:48.160 --> 1:03:50.160 there for you. And I want you guys to be 1:03:50.200 --> 1:03:54.240 aware that your mortgage payment will increase. So when you 1:03:54.280 --> 1:03:56.160 hear me screaming to the top of my lungs like 1:03:56.160 --> 1:03:58.120 I've been for the past four years on the internet, 1:03:58.480 --> 1:04:01.440 don't be house rich and cash poor. This is one 1:04:01.440 --> 1:04:04.800 of the prime examples, because you be thinking, you're paying 1:04:04.800 --> 1:04:06.520 me three hundred and eighty dollars, gonna be for the 1:04:06.560 --> 1:04:08.800 life of your loan, and you'll get a root awaken. 1:04:08.840 --> 1:04:11.000 In one month, You're gonna open up your your damn 1:04:11.280 --> 1:04:13.800 mortgage statement and your payment's gonna be five hundred dollars 1:04:14.080 --> 1:04:16.160 and you're gonna be like, what the hell happened? So 1:04:16.320 --> 1:04:20.200 I want you guys to be aware of this. Be 1:04:20.400 --> 1:04:24.600 aware of this, all right? Scroll down. Estimated taxes and 1:04:24.640 --> 1:04:31.440 insurance a month. Again, this is subject to change. Estimated 1:04:31.480 --> 1:04:35.760 closing course plus estimated cash to close. This is basically 1:04:35.840 --> 1:04:38.200 and you see it says from the borrower. That means 1:04:38.240 --> 1:04:41.000 what you have to bring the closing. Now, when you 1:04:41.080 --> 1:04:43.240 guys are shopping for a mortgage, I want you guys 1:04:43.240 --> 1:04:49.200 to be very clear on something else. The lender only 1:04:49.280 --> 1:04:56.440 controls two things, the interest rate and block A on 1:04:56.520 --> 1:05:00.320 its top left hand side, the origination charges. We do 1:05:00.360 --> 1:05:04.440 not control title fees. We do not control recording fees. 1:05:04.680 --> 1:05:08.520 We do not control how much escrow needs to be 1:05:08.560 --> 1:05:12.040 set up in that prepaid account or that initial escrow account. 1:05:12.240 --> 1:05:15.960 We do not control any of these fees. We only 1:05:16.040 --> 1:05:20.560 control the interest rate and the origination fees. So when 1:05:20.560 --> 1:05:24.960 you guys are shopping for a loan, you have to understand. 1:05:27.120 --> 1:05:30.000 Banks will sit here and present you offers in the 1:05:30.040 --> 1:05:33.200 beginning of your process and low ball you on purpose. 1:05:34.080 --> 1:05:37.280 They will missfees on these loan estimates because it's not 1:05:37.400 --> 1:05:43.320 legally binding, right, It's just an estimate. They will tell you, 1:05:44.280 --> 1:05:46.959 and when they try, when you're trying to compare, you're 1:05:47.000 --> 1:05:50.040 looking at, well, this lender's rate is this and their 1:05:50.080 --> 1:05:53.400 fees a twenty thousand. But this lenders rate is the same, 1:05:53.480 --> 1:05:56.640 but their fees a fifteen thousand. I'm going with this lender. 1:05:57.400 --> 1:05:59.680 But you don't realize that you're getting set up for 1:05:59.720 --> 1:06:03.760 the bag and switch because a lot of lenders out 1:06:03.840 --> 1:06:08.240 there will put lower fees on purpose. I'm trying to 1:06:08.240 --> 1:06:10.200 tell you this shit happens every single day. I don't 1:06:10.200 --> 1:06:12.360 care when no one tells me because I see it personally. 1:06:12.360 --> 1:06:14.280 When you guys are reaching out to me, asks me 1:06:14.320 --> 1:06:16.200 to you, your loan estimates. And I'm telling you there's 1:06:16.200 --> 1:06:19.240 a lot of fees missing here, all right, So please 1:06:19.760 --> 1:06:24.240 understand that the lender only controls this. So my advice 1:06:24.320 --> 1:06:27.320 to you if you're shopping or comparing lenders, compare them 1:06:27.360 --> 1:06:31.640 with the interest rate and block a fees. That is 1:06:31.680 --> 1:06:35.680 going to give your true determination if with lender is 1:06:35.720 --> 1:06:38.400 more expensive than the others, because that's the fees that 1:06:38.440 --> 1:06:41.920 they're making their money off of, not everything else. Now, 1:06:41.960 --> 1:06:43.720 if you want to know what your title fees and 1:06:43.720 --> 1:06:46.200 your recording fees are, this is when you got to 1:06:46.240 --> 1:06:49.360 go to your title company. If your realtor or your 1:06:49.360 --> 1:06:52.640 attorney is using a particular title company, you need to 1:06:52.680 --> 1:06:55.800 ask them for what's called a title bill. And in 1:06:55.880 --> 1:06:59.240 that title bill, you'll know what all the title fees are. 1:06:59.480 --> 1:07:02.880 You'll know what the recording fees are. You'll know what 1:07:03.080 --> 1:07:06.680 the estimated escrow account will be needed to set up 1:07:06.880 --> 1:07:09.800 based off of the closing date on the contract. You'll 1:07:09.840 --> 1:07:13.160 know all that information because us as the lender. When 1:07:13.200 --> 1:07:15.320 we get to the end of the process. You see 1:07:15.320 --> 1:07:18.320 how this says loan estimate, right, This is in the 1:07:18.360 --> 1:07:20.800 beginning of the process. When you get to the end 1:07:20.800 --> 1:07:23.280 of the process, you're going to get what's called a CD, 1:07:23.560 --> 1:07:29.080 a closing disclosure, and the lender to update that closing disclosure, 1:07:29.320 --> 1:07:31.880 they have to get all the final bills from the 1:07:31.920 --> 1:07:35.360 title company and all other parties involved. That way they 1:07:35.440 --> 1:07:38.800 can update that closing disclosure to make it as accurate 1:07:38.920 --> 1:07:44.920 as possible. So please understand the difference in this. Don't 1:07:45.000 --> 1:07:48.480 just be willy nilly an emotional home buyer and say, oh, 1:07:48.640 --> 1:07:50.240 this one's cheaper than this one, and this is that 1:07:50.360 --> 1:07:53.040 third and you're not even understanding by time you get 1:07:53.040 --> 1:07:54.479 to the end. It's going to be with that person 1:07:54.520 --> 1:07:56.440 who was hired probably even quoted you because they were 1:07:56.480 --> 1:07:59.600 probably doing the right thing. So it just understand the difference. 1:07:59.640 --> 1:08:02.400 And this is kind of why instead of me showing 1:08:02.440 --> 1:08:05.480 you a PowerPoint presentation, I kind of wanted to give 1:08:05.480 --> 1:08:08.440 you an example, a real life example of what this 1:08:08.520 --> 1:08:10.200 looked like, because a lot of you have never seen 1:08:10.240 --> 1:08:12.880 a loan estimate before. I see people in the YouTube 1:08:12.960 --> 1:08:15.560 comments talking about they never even heard a BLOCKA. This 1:08:15.680 --> 1:08:18.800 is exactly why I want to show my screen and 1:08:18.920 --> 1:08:21.000 show this to you guys, so you have a better 1:08:21.200 --> 1:08:26.040 understanding of what these things look like. All right, we 1:08:26.120 --> 1:08:26.400 got it. 1:08:26.479 --> 1:08:26.799 Y'all. 1:08:27.479 --> 1:08:33.760 Okay, good, who all right, back to the slides and 1:08:33.800 --> 1:08:40.519 we're almost done. So that's the closing cost section underwriting process. Now, 1:08:40.760 --> 1:08:43.720 after you go through your pre approval, your shopping for 1:08:43.760 --> 1:08:47.920 your home, you're ready to go. You're going to now 1:08:48.680 --> 1:08:51.920 update your loan officer he or she and let them 1:08:51.960 --> 1:08:56.920 know that you have a contract. And then that's when 1:08:56.920 --> 1:09:00.200 you're going to get your initial disclosures. And as a 1:09:00.240 --> 1:09:03.559 part of that initial disclosure package will be that loan 1:09:03.800 --> 1:09:06.960 estimate that I just showed you. Again, look at the 1:09:07.000 --> 1:09:10.120 loan estimate at this point, if you're still shopping for London, 1:09:10.120 --> 1:09:12.120 and I'm gonna tell you this right now, at this point, 1:09:12.160 --> 1:09:14.360 if you're still shopping for London when you get the contract, 1:09:14.400 --> 1:09:16.160 you kind of behind the eight ball because I think 1:09:16.160 --> 1:09:17.559 you should have did you shopping while he was in 1:09:17.560 --> 1:09:21.599 the pre approval process. But if you're still shopping again, 1:09:21.880 --> 1:09:25.040 remember block A and interest rate. That's what you need 1:09:25.040 --> 1:09:31.800 to pay attention to. Okay, now, let's keep your interest 1:09:31.840 --> 1:09:38.559 rates real quick. Locking in very important in these times. 1:09:39.400 --> 1:09:43.679 As you all have seen over the past six months, 1:09:43.760 --> 1:09:48.240 I should say that the market has been going absolutely 1:09:48.840 --> 1:09:53.720 bonkers with interest rates. This is not the time to 1:09:53.920 --> 1:09:56.880 float interest rates. So there's two things you can do 1:09:57.720 --> 1:10:01.040 when you get your contract. You can either lock it 1:10:01.120 --> 1:10:04.160 in and when we lock in, we lock in for 1:10:04.200 --> 1:10:06.679 a certain period of time, y'all. We lock in either 1:10:06.760 --> 1:10:10.160 for thirty days, forty five days, sixty days, ninety days 1:10:11.080 --> 1:10:14.920 up to six months, right. Or you can float, which 1:10:14.960 --> 1:10:19.280 means floating means you're playing the market. I do not 1:10:19.479 --> 1:10:25.519 recommend floating in today's market because it moves so rapidly. 1:10:26.479 --> 1:10:29.720 If you want to try to protect yourself, let's just 1:10:29.720 --> 1:10:33.439 say you lock in and you want to head your 1:10:33.479 --> 1:10:37.479 bet so to speak. If the market does drop, act 1:10:37.520 --> 1:10:42.960 your lender if they have a float down policy, type 1:10:43.000 --> 1:10:48.920 in chat float down okay, float down policy very important. 1:10:49.120 --> 1:10:50.919 So let me give you an example. 1:10:51.800 --> 1:10:52.599 You are. 1:10:54.000 --> 1:10:58.120 Locking in today at five and a half percent. Okay, 1:10:58.920 --> 1:11:00.960 you're locking in at five five and a half percent. 1:11:01.600 --> 1:11:05.240 But your loan officer, after you consulting with them and 1:11:05.240 --> 1:11:06.840 you say, you know what, we think the rates might 1:11:06.920 --> 1:11:09.320 drop a half a point in your favor. It may 1:11:09.400 --> 1:11:11.799 drop the four point eighty seventy five to five percent 1:11:11.880 --> 1:11:15.000 in like two weeks. While we're doing the process based 1:11:15.040 --> 1:11:17.000 off of what's happening in the market. 1:11:17.560 --> 1:11:17.800 So. 1:11:19.240 --> 1:11:21.880 We can lock you in with the float down option. 1:11:22.160 --> 1:11:24.320 It may now a lender's gonna charge you for this. 1:11:25.840 --> 1:11:29.240 So what this means is if the rate does drop 1:11:29.560 --> 1:11:33.120 that at least a quarter to three eighths of a 1:11:33.160 --> 1:11:36.680 point lower, then the loan officer can float down the 1:11:36.800 --> 1:11:42.360 rate and take advantage of the market decreasing and break 1:11:42.400 --> 1:11:44.760 you from that five and a half to that five 1:11:44.800 --> 1:11:47.120 and a quarter to that five point one to the 1:11:47.160 --> 1:11:51.720 five percent. But they may charge you a point for that. Now, 1:11:51.720 --> 1:11:53.519 for those of you who don't know what a point is, 1:11:54.040 --> 1:11:58.280 a point is one percent of the loan amount and 1:11:58.360 --> 1:12:02.400 it's used to buy down interest rate. So one hundred 1:12:02.439 --> 1:12:08.040 thousand dollars loan amount times one point equals one thousand dollars. 1:12:08.760 --> 1:12:11.599 All right, So I want you guys to understand when 1:12:11.600 --> 1:12:14.840 you are trying to lock in, if your lender has 1:12:14.880 --> 1:12:18.640 that option, take advantage of it. It may cost you 1:12:18.680 --> 1:12:21.959 some money. Now, what happens if the rates don't decrease, 1:12:22.640 --> 1:12:25.120 then you just paid a point for no reason. So 1:12:25.360 --> 1:12:27.960 you also got to understand the market and work with 1:12:28.040 --> 1:12:32.160 the loan officer who understands the market and is watching 1:12:32.680 --> 1:12:35.599 the trends that's happening. In the market to determine if 1:12:35.640 --> 1:12:40.000 it's even worth you paying that extra point to do 1:12:40.720 --> 1:12:45.080 the float down option. All right, but speak to your 1:12:45.200 --> 1:12:49.320 loan officer for more details about this. 1:12:51.240 --> 1:12:51.400 Who. 1:12:51.960 --> 1:12:55.440 So, now you're locking your rate. You go to underwriting, 1:12:56.600 --> 1:12:59.000 you get your loan reapproved by underwriting. They're going to 1:12:59.080 --> 1:13:04.120 have us called condition you meet those conditions. It could 1:13:04.120 --> 1:13:07.040 be updated pay stuffs, updated bank statements. It could be 1:13:07.120 --> 1:13:10.439 letters of explanations, it could be whatever the hell the 1:13:10.560 --> 1:13:16.120 underwriter wants to see to satisfy the commitment letter. Once 1:13:16.160 --> 1:13:18.839 you meet those plus, you get your clean tider report, 1:13:19.160 --> 1:13:22.400 you get an appraiser report, It gets submitted back to underwriting, 1:13:23.560 --> 1:13:27.040 and then boom. From there, they submit the loan for 1:13:27.120 --> 1:13:30.559 clearance to close, and in the perfect world, the underwriter 1:13:30.600 --> 1:13:34.439 will clear everything and then congratulations, you can now schedule 1:13:34.479 --> 1:13:37.559 your closing. But the mortgage process is not perfect. I'm 1:13:37.600 --> 1:13:39.720 here to tell you you will go through pain, you 1:13:39.760 --> 1:13:43.800 will go through agony, you will go through frustration, you 1:13:43.840 --> 1:13:48.640 will go through some BS. Okay, so have your expectations 1:13:48.640 --> 1:13:51.080 set properly that you are gonna go through some pain 1:13:51.160 --> 1:13:53.240 in some BS. Even if you went through a pre 1:13:53.400 --> 1:13:56.760 underwriting process, you will still go through the pain and 1:13:56.800 --> 1:14:00.080 the bs. This is just this is just the business 1:14:00.120 --> 1:14:02.960 that we are in and it's not perfect. But you 1:14:03.120 --> 1:14:06.760 have to have your expectations set right. So once you 1:14:07.520 --> 1:14:10.599 wants to underwriter, and oh, be prepared to be asked 1:14:10.600 --> 1:14:14.919 for documents, the same documents a couple times. This happens 1:14:15.520 --> 1:14:20.759 with certain lenders. Not gonna name no names, but this happens. Okay, 1:14:21.000 --> 1:14:23.880 I need you to understand this is part of the 1:14:23.960 --> 1:14:26.479 process and it will frustrate the hell out of you, 1:14:26.760 --> 1:14:29.720 rightfully so, but just give them whatever the hell they 1:14:29.760 --> 1:14:34.200 want and let's move on, all right. And once you 1:14:34.240 --> 1:14:37.920 go through the underwriting process you meet all your conditions. Congratulations, 1:14:37.920 --> 1:14:41.000 you are now clear to close and you can go 1:14:41.439 --> 1:14:45.599 close wing your house. That is my time for today, 1:14:45.680 --> 1:14:47.599 ladies and gentlemen. That's all I got. 1:14:49.880 --> 1:14:54.080 There. You have it better than college university. 1:14:54.360 --> 1:14:56.599 Give them what they want, man, just be patient, tell 1:14:56.640 --> 1:14:59.200 them many. 1:14:58.840 --> 1:15:00.280 Give them what they want. That's right. 1:15:02.720 --> 1:15:06.400 Oh my goodness, that's like put some fire in the chat. 1:15:06.880 --> 1:15:10.320 If you enjoyed that high level conversation. As my brother 1:15:10.439 --> 1:15:13.960 nineteen keys would say, you know, that's what it's about. 1:15:14.000 --> 1:15:14.320 Man. 1:15:15.280 --> 1:15:19.320 Not getting that kind of education anywhere, Definitely not at school. 1:15:19.360 --> 1:15:21.240 And that's one of the things I always talked about, like, 1:15:21.320 --> 1:15:25.600 buying a home is probably the biggest purpose that anybody's 1:15:25.640 --> 1:15:29.120 going to make, and for most people, that's their biggest investment. 1:15:29.200 --> 1:15:31.680 A lot of people, unfortunately, that's their only investment. And 1:15:31.800 --> 1:15:34.439 if you think about it, for the biggest purchase, the 1:15:34.439 --> 1:15:39.160 most important purchase, and something that most of your net 1:15:39.240 --> 1:15:42.000 worth is in. For the average American, you have no 1:15:42.400 --> 1:15:44.840 education on it, Like they never teach you anything. It's 1:15:44.880 --> 1:15:47.559 like you just go out there and just hope that 1:15:47.680 --> 1:15:50.120 you're not getting taken advantage of. But you just go 1:15:50.200 --> 1:15:52.360 to a bank and you say, Okay, I'm trying to 1:15:52.360 --> 1:15:55.640 buy a home, and you just follow whatever they tell you. 1:15:55.640 --> 1:15:57.320 You don't know if it's the best thing for you 1:15:57.439 --> 1:15:58.880 or not. You don't know about the program. If you 1:15:58.880 --> 1:16:02.320 don't know the process, you make mistakes. You don't have 1:16:02.360 --> 1:16:05.360 to get the documents in order, you don't get the mortgage, 1:16:06.680 --> 1:16:10.120 lose a home. It's a learning process and you learn 1:16:10.200 --> 1:16:12.639 as you go, but you can make a lot of mistakes. 1:16:12.640 --> 1:16:15.400 So I always thought like, why would they not have 1:16:15.520 --> 1:16:18.559 this as part of a core curriculum because it's something 1:16:18.960 --> 1:16:22.000 that is very common. A lot of people buy homes 1:16:22.720 --> 1:16:26.040 and to not have any idea of how to do it, 1:16:26.040 --> 1:16:29.559 it just doesn't make any sense. So there's something that 1:16:29.600 --> 1:16:31.920 we never even questioned because we just were so used 1:16:31.960 --> 1:16:34.479 to just not even having it that it's just like, 1:16:34.520 --> 1:16:36.280 all right, you know, just just go with the flow. 1:16:36.360 --> 1:16:42.680 But now we have institutions like Eyo University, and we 1:16:42.760 --> 1:16:46.680 have professionals like Matt who are very gracious with their 1:16:46.720 --> 1:16:50.680 time and they're educating the masses. So not take it 1:16:50.680 --> 1:16:53.559 for granted, because it's not something that has ever really 1:16:53.560 --> 1:16:56.840 happened before in a language that most people, especially in 1:16:56.880 --> 1:16:59.320 our world, understood, So just wanted. 1:16:59.080 --> 1:17:04.560 To give kudos to Matt. Definitely, you know, a legend. 1:17:04.320 --> 1:17:07.640 In the game when it comes to real estate, financing, 1:17:09.000 --> 1:17:09.719 home lending. 1:17:10.920 --> 1:17:13.879 Very very important, very very important. 1:17:15.120 --> 1:17:17.080 Yeah, I mean, I mean, he's the guy we call 1:17:17.200 --> 1:17:19.960 him for sure and with any question, right, And that's 1:17:20.000 --> 1:17:22.479 the thing too, being humble enough to know that you 1:17:22.479 --> 1:17:26.000 don't know everything, but having a resource that's almost like 1:17:26.040 --> 1:17:30.320 an encyclopedia at your disposal it makes everything a lot better. 1:17:31.080 --> 1:17:34.200 So I'm personally going through the process, and so every 1:17:34.200 --> 1:17:36.080 time I get a letter, the first guy I call 1:17:36.080 --> 1:17:36.599 it is Matt. 1:17:36.520 --> 1:17:42.000 To make sure everything's right. But everybody doesn't have that, 1:17:42.520 --> 1:17:43.920 and so having this type. 1:17:43.720 --> 1:17:46.280 Of information presented in front of you, you can alleviate 1:17:46.320 --> 1:17:48.360 that fear. A lot of times people get in that 1:17:48.439 --> 1:17:51.000 fear process where they don't want to take action because 1:17:51.000 --> 1:17:53.240 they don't want to make the mistake. But what's been 1:17:53.280 --> 1:17:57.160 laid out for you right here is a detailed version 1:17:57.200 --> 1:17:58.599 of what you need to do in order. 1:17:58.520 --> 1:17:59.559 To get that first property. 1:17:59.600 --> 1:18:02.559 So that I appreciate you for, you know, decreasing that 1:18:02.640 --> 1:18:04.400 level of fear for people to make that first step. 1:18:05.000 --> 1:18:07.360 Yeah, yeah, no doubt, man, That's what we here for. 1:18:07.479 --> 1:18:07.639 Man. 1:18:07.720 --> 1:18:09.880 Each one teach one And like Shaddy said, no one 1:18:09.920 --> 1:18:12.720 taught us this in school. The school curriculum is not 1:18:12.880 --> 1:18:15.240 made for us to know this type of stuff. How 1:18:15.360 --> 1:18:17.080 our parents didn't even teach us how to do this 1:18:17.160 --> 1:18:19.439 because for the most part they didn't really know. Most 1:18:19.439 --> 1:18:21.559 of our parents who purchased homes, they trip and fell 1:18:21.600 --> 1:18:24.240 into home ownership. It wasn't like you know what I'm saying, 1:18:24.240 --> 1:18:28.920 that was taught. So for me to be able to 1:18:28.960 --> 1:18:31.880 be blessed with the knowledge to be able to pass 1:18:31.920 --> 1:18:35.880 it on to my community at scale, because of platforms 1:18:35.920 --> 1:18:39.240 like EYL University. It's life changing for me and I 1:18:39.240 --> 1:18:41.040 don't take it lightly. I love and this is why 1:18:41.080 --> 1:18:43.200 I always save my license number because I'm proud to 1:18:43.240 --> 1:18:46.400 be a licensed real estate professional. I tell people all 1:18:46.400 --> 1:18:48.200 the time, I'm not an internet guy. You just see 1:18:48.200 --> 1:18:50.320 me on the internet. This is what I do every 1:18:50.360 --> 1:18:52.360 single day, this is what my team does. We help 1:18:52.400 --> 1:18:54.080 a lot of people, and I don't brag about it. 1:18:54.120 --> 1:18:57.280 You'll never see me posting closing follows. You'll never see 1:18:57.280 --> 1:19:02.799 me doing boomerangues. Respectfully. I say that respectfully because everybody 1:19:02.880 --> 1:19:05.280 got their own swag and that's cool. But I help. 1:19:05.640 --> 1:19:08.160 Don't get it twisted. MG closes a lot of loans 1:19:08.160 --> 1:19:10.920 and I help a lot of people directly and indirectly. 1:19:10.960 --> 1:19:12.880 I help some of your favorite people that you watch 1:19:12.920 --> 1:19:15.080 all the time. And you'll never hear me chasing no 1:19:15.200 --> 1:19:18.040 clout because I don't do this for clout. I do 1:19:18.120 --> 1:19:20.920 this to help my people at Scale because I am 1:19:20.920 --> 1:19:24.240 a terrible Internet marketer. If I was really an Internet marketer, 1:19:24.360 --> 1:19:27.160 I would fledge your timeline with testimonials and all types 1:19:27.160 --> 1:19:29.200 of ish. But if you've been following me for years, 1:19:29.240 --> 1:19:31.960 you don't see that on my page. You see information 1:19:32.560 --> 1:19:37.920 all day long information, information and information, and I want 1:19:38.000 --> 1:19:40.559 you guys to execute at a high level. I don't 1:19:40.600 --> 1:19:43.040 even ask you guys for business for ninety percent of 1:19:43.080 --> 1:19:45.360 the time, I'm just giving you the information and if 1:19:45.400 --> 1:19:48.240 you work with me and my team, great cherry on top, 1:19:48.479 --> 1:19:50.960 God bless, thank you very much. But I don't do 1:19:51.040 --> 1:19:53.840 this for leads either. I do this because I want 1:19:53.840 --> 1:19:56.519 our people to own some shit. Because our home ownership 1:19:56.560 --> 1:19:58.800 rate is forty two percent in our community and it's 1:19:58.920 --> 1:20:01.880 very important for us to close the wealth gap. Real 1:20:01.960 --> 1:20:04.800 estate is a major component of that. So we have 1:20:04.920 --> 1:20:06.719 to own real estate. 1:20:07.479 --> 1:20:09.360 That's a fact. So we're gonna go into some questions. 1:20:09.439 --> 1:20:12.599 Before we go into questions, somebody said, if MG had 1:20:12.600 --> 1:20:14.600 a book or a pamphlet or something, I would buy it. 1:20:14.680 --> 1:20:18.040 So he actually has even better than that the real 1:20:18.120 --> 1:20:19.040 Estate Encyclopedia. 1:20:19.320 --> 1:20:19.800 Yes, book. 1:20:20.840 --> 1:20:24.280 I was about to pull a book too, but we 1:20:24.280 --> 1:20:26.320 ain't gonna talk about the book though. Let's talk about 1:20:26.320 --> 1:20:27.160 what we're talking about. 1:20:27.880 --> 1:20:30.479 So you got The Home Buyers Blueprint Volume one and 1:20:30.680 --> 1:20:35.320 volume two, over twenty hours of content, So imagine this 1:20:35.640 --> 1:20:38.200 one hour. He got twenty hours of content which literally 1:20:38.280 --> 1:20:41.559 walks you through every single thing. Auzy and then Volume 1:20:41.600 --> 1:20:44.479 two is like the rehab pack where you go over 1:20:44.520 --> 1:20:47.519 two or three k loans everything you know rehab. It's 1:20:47.680 --> 1:20:52.599 literally like step by step blueprint on all things real 1:20:52.720 --> 1:20:56.040 estate and real estate investor. What we did was originally 1:20:56.120 --> 1:20:57.960 that rolled out as a separate and it's still a 1:20:58.000 --> 1:21:01.720 separate if you want that individually, but we packaged it 1:21:01.760 --> 1:21:05.000 together with Eyo University, so anybody that's in Eyo University 1:21:05.040 --> 1:21:08.880 gets access to home buyers Blueprint Volume one and volume 1:21:08.920 --> 1:21:12.920 two as part of Eyo University. And for Eyo University, 1:21:12.920 --> 1:21:16.000 of course, we have monthly financial planning calls with me. 1:21:16.120 --> 1:21:20.559 We have weekly investment classes. Shout out to Chris. We 1:21:20.720 --> 1:21:23.799 have over one hundred archive classes because we do classes 1:21:23.800 --> 1:21:27.080 every single week and we have clubs. So people ask 1:21:27.160 --> 1:21:29.160 all the time, like what's the difference between earn your 1:21:29.240 --> 1:21:32.160 leadia Eyo University. Earn your lesia is like a public school. 1:21:32.200 --> 1:21:34.599 You can learn either way. That's the good thing. It's 1:21:34.600 --> 1:21:37.679 like you can learn either way. Public school is free. 1:21:37.920 --> 1:21:41.719 Eyo University is more hands on. It's a learning experience. 1:21:41.720 --> 1:21:44.920 But we have zoom calls, we answer questions. People actually 1:21:45.000 --> 1:21:47.600 learn from each other. It's a community. It's like you know, 1:21:47.680 --> 1:21:50.160 I actually get to talk do my financial planning thing 1:21:50.240 --> 1:21:52.759 once a month. Troy does the book club Movie Club. 1:21:53.160 --> 1:21:56.559 So I mean it's something that we wanted to take 1:21:56.560 --> 1:22:00.400 the best aspects of school, but you know, at spin 1:22:00.479 --> 1:22:03.000 to it and just make the things that's really applicable 1:22:03.040 --> 1:22:05.479 as opposed to teaching you like, you know, about the 1:22:05.560 --> 1:22:07.599 stars and the moon and all that kind of stuff, 1:22:08.400 --> 1:22:11.800 dissecting frogs and things that that wasn't really necessary. So 1:22:12.400 --> 1:22:15.040 and we did it at a competitive price point that 1:22:15.040 --> 1:22:17.280 I don't think anybody in our industry has ever been 1:22:17.320 --> 1:22:20.559 able to accomplish, to be able to do that at 1:22:20.840 --> 1:22:23.960 And you know, we're in a good vibe right now. 1:22:24.000 --> 1:22:25.840 We gotta invest Fst coming up. MG is gonna be 1:22:25.880 --> 1:22:29.200 at to invest Fest, and you know, it's just it's good. 1:22:29.240 --> 1:22:31.519 It's good times right now. So we decided to just 1:22:31.560 --> 1:22:33.840 do a flash sale, forty eight hour fourth of July 1:22:34.080 --> 1:22:38.280 flash sale. We'll probably run into like Saturday, and we're 1:22:38.280 --> 1:22:40.320 going to do seventy five percent off four ninety nine 1:22:40.400 --> 1:22:42.599 for the whole entire year. And that's the low price 1:22:42.640 --> 1:22:45.080 it's been since Black Friday. It hasn't been that right 1:22:45.200 --> 1:22:49.400 since Black Friday. So literally one hundred hours of videos, 1:22:49.560 --> 1:22:53.680 calls with me every month, home Buyers, Blueprint Voume one, 1:22:53.840 --> 1:22:57.479 Volume two, book Club, Movie Club, access to the Facebook group, 1:22:57.840 --> 1:23:00.200 access to the weekly classes, access to the to the 1:23:00.200 --> 1:23:05.800 weekly investment classes. Five hundred dollars, Like that's almost impossible 1:23:05.920 --> 1:23:08.400 to accomplish, but nothing is impossible at EYL. 1:23:09.000 --> 1:23:12.120 So that's a night out of TGA. Friday is a moment. 1:23:11.960 --> 1:23:16.880 And we ain't that's a fact. 1:23:17.000 --> 1:23:20.040 So, you know, people always complain about stuff not being affordable. 1:23:20.360 --> 1:23:22.519 If you can't afford that, then it's just not the 1:23:22.560 --> 1:23:24.240 right time for you. Right now, you can just stay 1:23:24.320 --> 1:23:27.519 and just watch the podcast, watch YouTube and you get 1:23:27.560 --> 1:23:29.599 a lot of information there. But if you just want 1:23:29.640 --> 1:23:31.919 to you know, a little bit more of a higher education, 1:23:32.400 --> 1:23:38.960 your handheld direct access to us on a certain level, Yeah, 1:23:39.240 --> 1:23:42.240 choices show us forty eight hours Eyo University Flash say 1:23:42.240 --> 1:23:44.799 I'll pin it. I'll pin up the link in YouTube 1:23:44.800 --> 1:23:46.759 and then I'll also put in the description of this video. 1:23:47.240 --> 1:23:49.360 And the best part about these classes that we do 1:23:49.479 --> 1:23:51.800 is that we actually get to answer questions. So this 1:23:51.840 --> 1:23:54.160 is something that you know, once again, you don't do 1:23:54.200 --> 1:23:56.639 that on a podcast where we actually you know, take 1:23:56.720 --> 1:23:58.760 zoom questions and we answer it. So it's just like 1:23:58.800 --> 1:24:01.040 being in a classroom. So that's what we're gonna do. 1:24:01.120 --> 1:24:03.640 Right now. We're gonna answer a few questions before we 1:24:03.680 --> 1:24:06.439 wrap and shout to Renee. 1:24:06.640 --> 1:24:08.679 Renee one of our top earners. 1:24:08.680 --> 1:24:13.320 I see she's putting the entire pamphlet of things. 1:24:13.680 --> 1:24:16.000 Yeah, they always, they always in everything. Shout to all artists. 1:24:16.560 --> 1:24:17.080 Let's try this. 1:24:17.160 --> 1:24:19.439 Let's go lucky three one three were coming to you 1:24:19.479 --> 1:24:21.200 and meet yourself? You better neither. What's going on? 1:24:25.120 --> 1:24:25.600 Can you hear me? 1:24:26.520 --> 1:24:27.679 Yeah? We can hate you purposes. 1:24:29.120 --> 1:24:30.559 How y'all doing the black man? 1:24:30.960 --> 1:24:31.519 What's going on? 1:24:32.880 --> 1:24:34.680 My question? Pretty well? Pretty well? 1:24:34.720 --> 1:24:34.960 Thanks? 1:24:35.560 --> 1:24:36.599 Well, obviously I'm. 1:24:36.400 --> 1:24:40.360 From Detroit and what I've done. 1:24:40.520 --> 1:24:45.320 What though our market appears to be extremely, extremely all 1:24:45.360 --> 1:24:49.320 the price, in my opinion, I am apparently looking for 1:24:49.360 --> 1:24:53.880 a home and it's almost to a point where it's 1:24:53.920 --> 1:24:56.960 like who who are buying these songs? Who honestly can 1:24:57.040 --> 1:25:00.800 afflord them? Because when you talk to other buyers that 1:25:01.000 --> 1:25:05.679 are people that's not of en glomary, everyone is saying 1:25:05.680 --> 1:25:09.479 the same thing. You go look at a house, it's 1:25:09.560 --> 1:25:13.160 already kind of over priced, fifty thousand, and you still 1:25:13.920 --> 1:25:17.720 in a bidding room. What would you do if you 1:25:17.800 --> 1:25:19.040 are in that situation? 1:25:21.720 --> 1:25:30.360 Rent is overpriced too, Pick your poison. That's kind of 1:25:30.479 --> 1:25:32.679 the only thing you can do. Right now. We are 1:25:32.680 --> 1:25:38.479 in inflation every time, So ultimately, right now, I understand 1:25:38.479 --> 1:25:41.840 your concerns, but maybe you need to start looking at home. 1:25:41.960 --> 1:25:45.439 And I'm taking at these homes are turnkey. They're probably 1:25:45.520 --> 1:25:53.320 already renovated, correct, Sam, can you hear me? 1:25:54.400 --> 1:25:58.799 Look you they Oh, yeah, that's that? 1:25:58.840 --> 1:26:00.719 What's that I'm as us? 1:26:05.000 --> 1:26:06.559 Well, let's just say that the turkey. 1:26:07.160 --> 1:26:10.040 So let's just say they turnkey, right then you have 1:26:10.080 --> 1:26:14.080 to find something that's not turnkey. You're here, Yeah, so 1:26:14.200 --> 1:26:16.840 lucky it is those houses fully renovated homes you're looking at. 1:26:17.520 --> 1:26:19.479 No, man, you still have to go in there and 1:26:19.520 --> 1:26:23.160 put sixty to hundred thousand in there to update it 1:26:23.200 --> 1:26:24.680 and make it the way that you will want it. 1:26:24.760 --> 1:26:27.639 Are they livable, Yes, but you would still need maybe 1:26:27.640 --> 1:26:31.360 a roof windows. I mean, you still got to go 1:26:31.360 --> 1:26:32.839 in there and put work into these houses. 1:26:32.920 --> 1:26:36.040 Are how much of these house is worth after your repairs? 1:26:38.000 --> 1:26:40.160 They already overpriced when you buy. 1:26:39.920 --> 1:26:43.439 Any but no, the question is how after So if 1:26:43.479 --> 1:26:45.960 you buy it at whatever price and you put in 1:26:46.040 --> 1:26:48.000 fifty to one hundred K, how much is the house 1:26:48.040 --> 1:26:48.559 gonna be worth? 1:26:52.040 --> 1:26:55.560 That part? I'm not sure tomorrow what of the peers? 1:26:55.600 --> 1:26:58.280 Before you put the sixty to one hundred and into it, 1:26:59.600 --> 1:27:03.439 you are already buying a house with no equity. There's 1:27:03.520 --> 1:27:05.200 nothing left, there's no more room left. 1:27:06.920 --> 1:27:09.439 So if you have no equity, then obviously that's not 1:27:09.560 --> 1:27:11.960 worth it for you to go into a home. And 1:27:12.000 --> 1:27:14.719 then you got to still put that amount of money 1:27:15.040 --> 1:27:18.000 and you're going to be upside down. So I would 1:27:18.040 --> 1:27:20.400 probably say then you have to probably look in different 1:27:20.479 --> 1:27:23.719 areas to whereas you're not you're not in that same 1:27:23.760 --> 1:27:26.599 position because that's just that's just not a good deal 1:27:26.600 --> 1:27:28.280 and there's nothing you can do about that. So you 1:27:28.320 --> 1:27:30.320 don't want to pull a trigger or anything like that. 1:27:30.680 --> 1:27:32.920 You just got to find homes where if you are 1:27:32.960 --> 1:27:35.719 going to put that money, that your active innovative value 1:27:35.760 --> 1:27:37.439 is going to be greater than what you put into it. 1:27:37.479 --> 1:27:39.519 So that way you're walking into in there with some 1:27:39.600 --> 1:27:41.640 equity and you're forcing that appreciation. 1:27:44.880 --> 1:27:48.200 All right, Well, God be patient, Thank you. 1:27:48.280 --> 1:27:50.760 Much, appreciate, appreciate you, bro. 1:27:51.640 --> 1:27:54.160 Let's try this. Let's go to Jessica d Jessica d 1:27:54.280 --> 1:27:56.160 we come to you on mute yourself. You've been unmuted. 1:27:56.200 --> 1:27:56.960 What's going on with you? 1:28:04.479 --> 1:28:06.800 Damn Jess, Damn Jess. 1:28:06.640 --> 1:28:09.800 It's all good. Just three minutes ago, Jennifer, we're coming 1:28:09.800 --> 1:28:12.160 to you, Jennifer. What's going on? I mute yourself. You've 1:28:12.160 --> 1:28:12.759 been unmuted. 1:28:13.600 --> 1:28:16.040 Hello, good evening, gentlemen, Thank you for this. 1:28:16.479 --> 1:28:17.360 What's up, Jennifer? 1:28:17.800 --> 1:28:21.240 How you doing? Matt quick question for you. So you know, 1:28:21.360 --> 1:28:24.040 I'm a realtor Martha's Vineyard. I'm in the middle of 1:28:24.120 --> 1:28:27.880 a deal now. Buyer client is buying land for one 1:28:27.960 --> 1:28:32.080 point five eight five. Appraisal came back at one point four. 1:28:33.720 --> 1:28:36.679 I went back to the appraiser with comps to justify 1:28:37.000 --> 1:28:40.160 the one five eight five. He discounted them. He said, 1:28:40.200 --> 1:28:44.519 no good the I'm representing the buyer. The seller's agent 1:28:44.680 --> 1:28:47.920 went back and said their errors in the appraisal. So 1:28:47.960 --> 1:28:51.640 the bank listened to that and is ordering a new appraisal. 1:28:52.160 --> 1:28:55.439 So I'm curious to know, from your perspective as a 1:28:55.640 --> 1:29:00.559 mortgage loan officer, what our chances look like of getting 1:29:01.280 --> 1:29:03.479 How do you deal with this kind of situation and 1:29:03.520 --> 1:29:06.080 what our chances look like of getting the APPRAI a 1:29:06.120 --> 1:29:09.599 new appraisal to come up with the right numbers so 1:29:09.640 --> 1:29:12.240 that the buyer client doesn't have to come up with 1:29:12.320 --> 1:29:13.360 more cash. 1:29:13.439 --> 1:29:15.800 Man, this was an amazing question. I'm glad you asked 1:29:15.840 --> 1:29:19.560 the Jennifer great question because this happens every day unfortunately. 1:29:20.000 --> 1:29:24.280 So first, I want the audience to know that the appraiser, 1:29:24.800 --> 1:29:27.639 when he does an appraisal report, he's given his opinion 1:29:28.600 --> 1:29:32.599 on a value. His opinion is goal to the banks, 1:29:33.040 --> 1:29:34.800 and we're going to go off of that. You guys 1:29:34.800 --> 1:29:39.080 did a great job by contesting that appraisal, and the AMC, 1:29:39.280 --> 1:29:43.479 the Appraisal Management Company, believed you guys and say, you 1:29:43.520 --> 1:29:46.559 know what, we're going to order a new appraisal. I 1:29:46.600 --> 1:29:50.120 will tell you from my experience, there's a fifty maybe 1:29:50.160 --> 1:29:53.479 I would probably say a sixty five percent chance that 1:29:53.520 --> 1:29:58.200 appraisal comes in low to oh wow, it is, and 1:29:58.240 --> 1:30:01.200 it's a thirty to chance that it might hit the 1:30:01.280 --> 1:30:03.519 numbers that you want. If you have to remember, these 1:30:03.520 --> 1:30:06.599 appraisers talk to each other. Number one, they're all providing 1:30:06.680 --> 1:30:11.120 the same the same comps everywhere you go, and a 1:30:11.160 --> 1:30:13.880 lot of appraisers they're going to use the same type 1:30:13.920 --> 1:30:17.200 of formulas to either adjust up or adjust down when 1:30:17.200 --> 1:30:20.200 it comes to their adjustments and comparables and things of 1:30:20.240 --> 1:30:24.120 that nature. So there's a good possibility that this piece 1:30:24.160 --> 1:30:29.120 of land will get a praise for the same value 1:30:29.200 --> 1:30:32.640 or probably a little bit more. It's a good possibility 1:30:32.680 --> 1:30:35.799 that it probably won't get ap praised for the sales price. 1:30:36.800 --> 1:30:38.880 You know, that might even be something we need to 1:30:38.920 --> 1:30:41.879 just have like a whole class or the appraisal process, 1:30:41.920 --> 1:30:45.280 because I've had some experiences even now with something, you know, 1:30:45.400 --> 1:30:46.880 property that I'm mentioningly. 1:30:46.760 --> 1:30:50.320 Building, you know, thinking that the square feed is gonna 1:30:50.320 --> 1:30:52.679 be one thing, but understanding like yo, if there's no floor, 1:30:52.720 --> 1:30:53.719 then that really doesn't count. 1:30:53.720 --> 1:30:55.719 And top inside the appraisal process. 1:30:55.760 --> 1:30:58.559 So even understanding the interests of that, because that could 1:30:58.560 --> 1:31:00.880 be a process that could make a break deal and 1:31:00.960 --> 1:31:02.800 make or break them out of equity that you think 1:31:02.840 --> 1:31:03.960 that you have in a property. 1:31:04.320 --> 1:31:06.639 So justica, I appreciate that question. That was a great one. 1:31:06.960 --> 1:31:09.719 Yeah, that was that was The praiser process is such 1:31:09.720 --> 1:31:13.160 a finicky process, and I want everybody to understand lenders 1:31:13.160 --> 1:31:17.080 do not control appraisals. That's number one. There's an Appraisal 1:31:17.200 --> 1:31:23.160 Management company AMC that acts as the third party person 1:31:23.240 --> 1:31:28.200 between the appraiser and the lender that AMC is choosing 1:31:28.240 --> 1:31:32.000 from a round robbin of appraisers that's approved what said lender, 1:31:32.439 --> 1:31:35.800 and then they pick that appraiser goes out and us 1:31:35.840 --> 1:31:38.479 at the on the lender side, we have no clue 1:31:38.520 --> 1:31:42.160 who that appraiser is until we get the actual report back. 1:31:42.600 --> 1:31:44.559 So a lot of people always say it's the lenders 1:31:44.560 --> 1:31:47.800 the lender. No, it's not the lender. It's with our 1:31:47.880 --> 1:31:50.320 hands are tied because of all the regulations that was 1:31:50.320 --> 1:31:53.680 put in place after the wild cowboy days. So that 1:31:53.880 --> 1:31:57.200 was a great question. But it's an unfortunate thing that 1:31:57.320 --> 1:31:59.560 happens in this market. And if you do get a 1:31:59.640 --> 1:32:02.840 lower they not might go in your bias favor. Now 1:32:02.840 --> 1:32:05.880 it's time to negotiate because now you got too low appraisals. 1:32:06.160 --> 1:32:09.280 Right, Well, that's what I told him that we're going 1:32:09.320 --> 1:32:11.439 back to the cellar and asking him to reduce the 1:32:11.479 --> 1:32:15.679 price if it doesn't work out, which is great, which 1:32:15.720 --> 1:32:17.559 is great for him, and I want, you know, him 1:32:17.560 --> 1:32:18.479 to get a fair price. 1:32:18.800 --> 1:32:21.560 Absolutely, and it goes in a favor. My question is 1:32:21.600 --> 1:32:25.679 what are they doing with this lamb building the house? Okay, 1:32:25.760 --> 1:32:27.840 so they are what type of financing are they doing? 1:32:30.520 --> 1:32:31.400 Doing cash? 1:32:31.960 --> 1:32:35.040 No, no, it's we do have a lot of cash deals, 1:32:35.040 --> 1:32:38.120 but this one they're financing an eighty twenty loan. 1:32:38.920 --> 1:32:42.040 Okay, okay, so they're doing eighty percent down and doing 1:32:42.040 --> 1:32:47.160 the rest of eighty percent sat down. And then they 1:32:47.360 --> 1:32:52.559 so they're doing acquisition and construction in one loan. Yes, yes, okay, 1:32:53.160 --> 1:32:54.360 smart play. I like that. 1:32:55.040 --> 1:32:57.120 Yeah, yeah, about that. 1:32:57.960 --> 1:33:02.439 We know a thing or two. Yeah, good question. 1:33:02.920 --> 1:33:06.240 Thing, Matt. You know I live in Massachusetts, but you 1:33:06.320 --> 1:33:08.800 don't know that I grew up in Rockaway. Queens, get 1:33:08.840 --> 1:33:09.240 the money. 1:33:09.439 --> 1:33:12.120 Queens, get the money. Let's go you at the end 1:33:12.120 --> 1:33:16.639 of the the Rockaways, the end of the Earth, the Earth, 1:33:17.160 --> 1:33:19.320 the end of the Earth. Shout out to the Rockaways. 1:33:20.680 --> 1:33:22.679 Out to Jennifer. Thanks Jennifer, Thank. 1:33:22.520 --> 1:33:25.960 You, appreciate you, Jennifer. Queen's get the money. 1:33:26.520 --> 1:33:29.519 All right's let's try this. That's uh, Regina, what's going on, y'all? 1:33:29.520 --> 1:33:31.360 See you on muted? How you doing? 1:33:32.080 --> 1:33:35.360 Hey, don't be alarmed. This is our brother, Reggie. Hey, Matt, 1:33:35.479 --> 1:33:41.879 Troy Forshak Reggie. He's like, don't be alarmed. 1:33:43.600 --> 1:33:47.400 Switch on us. I'm trying to house hack. 1:33:47.920 --> 1:33:50.639 So what you're talking about. 1:33:51.080 --> 1:33:54.960 Yeah, exactly, yeah, yeah, So long story short, my mom's 1:33:54.960 --> 1:33:58.000 a real estate broker. We're trying to find Multiplatan properties 1:33:58.520 --> 1:34:01.840 twenty nineteen could find me, but you feel me. 1:34:01.840 --> 1:34:02.400 You off the market. 1:34:02.439 --> 1:34:04.960 You doing a single family house in the upcoming neighborhood? 1:34:05.360 --> 1:34:07.840 Now rehabbing this house right now, but I want to 1:34:07.880 --> 1:34:09.720 kind of do a four three two one. So my 1:34:09.840 --> 1:34:11.960 question for Matt is can I move out of here, 1:34:12.040 --> 1:34:14.960 run this place out, moving my parents and then four 1:34:15.000 --> 1:34:15.760 three to one from there? 1:34:16.960 --> 1:34:18.240 Do you own the house you in now? 1:34:18.920 --> 1:34:20.800 He's a conventional twenty year on it right now? 1:34:21.800 --> 1:34:22.719 What type of property? 1:34:22.760 --> 1:34:23.000 Is it? 1:34:23.400 --> 1:34:24.040 Single family? 1:34:25.439 --> 1:34:27.639 So you have a single family and then you want 1:34:27.640 --> 1:34:30.759 to move with your parents and then go buy multi 1:34:30.760 --> 1:34:32.440 families to house hot? 1:34:32.760 --> 1:34:35.840 Yeah, rent this place out if I have to and 1:34:35.880 --> 1:34:39.120 move my parents and just get troplex, duplex. 1:34:38.760 --> 1:34:40.360 Or what I mean? I mean? 1:34:40.439 --> 1:34:40.639 Yeah? 1:34:40.680 --> 1:34:44.479 I mean look, so I have great question, bro father, 1:34:44.680 --> 1:34:48.439 taxes properly, why are you living with your parents? So 1:34:48.880 --> 1:34:52.439 make sure you show this single family property as an 1:34:52.479 --> 1:34:55.960 investment property on your tax returns, so that way when 1:34:55.960 --> 1:34:57.960 it's time for you to get your multi families and 1:34:57.960 --> 1:34:59.760 the lenders say, well, you have this mortgage is a 1:34:59.800 --> 1:35:02.439 single family, No, it's an investment property. Look at their 1:35:02.479 --> 1:35:06.519 tax returns. It's on there. It's listed as an investment property. 1:35:07.000 --> 1:35:10.360 So that way you buyd your multifamily and now doing 1:35:10.400 --> 1:35:14.400 your househide journey, that won't impact you at all. Okay 1:35:14.720 --> 1:35:17.760 from that perspective. Now, obviously you know, depending on how 1:35:17.800 --> 1:35:20.960 much you deducted and everything like that could impact your 1:35:21.000 --> 1:35:23.320 debt to income ratio and what you can qualify for. 1:35:23.439 --> 1:35:27.639 That's a whole deeper conversation. But essentially to answer the question, 1:35:28.479 --> 1:35:31.759 if you if you rent it out and you file 1:35:31.800 --> 1:35:34.200 it on your taxes and show it as a true investment, 1:35:34.600 --> 1:35:37.040 you shouldn't have an issue with the house hack to 1:35:37.040 --> 1:35:38.040 start your house hacking. 1:35:38.800 --> 1:35:41.600 Okay, great, So one more question for that. So I 1:35:41.600 --> 1:35:43.719 have to wait the entire year to get taxes back 1:35:43.880 --> 1:35:46.160 with my tax return to prove this or can I 1:35:46.200 --> 1:35:47.360 do it before the year? 1:35:47.560 --> 1:35:47.760 Bid? 1:35:48.920 --> 1:35:50.000 When are you planning on doing this? 1:35:51.160 --> 1:35:52.160 Oh? 1:35:52.320 --> 1:35:53.280 I pray moving out of here. 1:35:53.439 --> 1:35:54.919 It's based off by December. 1:35:56.520 --> 1:35:58.240 I would say, if you can get a tenant in 1:35:58.280 --> 1:36:01.680 there in this calendar year, Okay, I remember if you 1:36:01.760 --> 1:36:05.000 wait till December, the movie you get somebody in that January. Now, 1:36:05.000 --> 1:36:07.920 you're in twenty twenty three. Okay, you know what I mean. 1:36:08.000 --> 1:36:09.760 So I would say, wait, I would say, if you 1:36:09.760 --> 1:36:12.840 can get a tenant in there, start paying you so 1:36:12.920 --> 1:36:14.800 that way you can file for twenty twenty two and 1:36:14.840 --> 1:36:18.799 show it on there, then you're you're in a better position. Okay, perfect, 1:36:20.840 --> 1:36:23.840 Thank you, appreciate you, appreciate you. 1:36:27.240 --> 1:36:30.639 Let's try to Let's go to uh, let's go to Ashley. Ashley, 1:36:30.720 --> 1:36:33.559 we are coming to you. Mut yourself. You have been unmuted. 1:36:34.439 --> 1:36:36.479 Hopefully have a good naight. What's going on? 1:36:37.439 --> 1:36:43.080 Hey there, how are you guys doing. I wanted to 1:36:43.200 --> 1:36:46.320 just shout out and say thank you guys. I went 1:36:46.360 --> 1:36:48.240 to the Black Money Forum and I met you. 1:36:48.120 --> 1:36:51.439 Guys, juvenard all. 1:36:51.520 --> 1:36:52.080 What happened to it? 1:36:52.320 --> 1:36:53.000 What happened to him? 1:36:55.080 --> 1:36:55.120 No? 1:36:55.520 --> 1:36:56.320 Can you hear me? 1:36:58.160 --> 1:36:58.599 Okay? 1:36:58.800 --> 1:37:01.400 Yes, So I went to the Black Money Forum and 1:37:01.400 --> 1:37:04.320 I've seen all you guys out there, really great information. 1:37:04.640 --> 1:37:08.000 Met with you two MG. So thank you so much, appreciate. 1:37:09.520 --> 1:37:13.280 So I wrote my question in the chat, but I'm 1:37:13.280 --> 1:37:15.120 going to go back and get it. So I have 1:37:15.200 --> 1:37:18.599 a few boats. I'm currently on the process of trying 1:37:18.640 --> 1:37:21.640 to get myself together so that I can get like 1:37:21.680 --> 1:37:26.000 that pre appraisal done in order to start looking and 1:37:26.320 --> 1:37:29.559 you know, just getting myself ready. I found under a 1:37:29.640 --> 1:37:33.559 lender and I'm currently working through that process. A question 1:37:33.600 --> 1:37:36.280 that I have is can I go to multiple lenders 1:37:36.320 --> 1:37:40.439 at the same time or do I have to start 1:37:40.439 --> 1:37:43.920 with one lender and kind of like work from there. 1:37:44.040 --> 1:37:50.759 For your pray approval. Yes, you can go to multiple 1:37:50.840 --> 1:37:53.040 lenders at the same time. If you're going to have 1:37:53.240 --> 1:37:56.599 multiple lenders run your credit, I would recommend doing it 1:37:56.640 --> 1:38:00.680 all within the same twenty four hours twenty four to 1:38:00.760 --> 1:38:04.679 fourty eight hours. But I'll be honest with you, you don't 1:38:04.680 --> 1:38:06.200 need to go to multiple lenders once you know what 1:38:06.280 --> 1:38:08.880 you're talking about, right, You just need to go to 1:38:08.920 --> 1:38:12.920 one lender, know your scenario right. So that's why it's 1:38:12.920 --> 1:38:18.200 important for you to be like the CEO right and 1:38:18.520 --> 1:38:22.160 understand the process and understand your debt to income ratio, 1:38:22.280 --> 1:38:24.840 Understand what programs that you are pre approved for, so 1:38:24.880 --> 1:38:26.600 that way when you go to lender B and C, 1:38:27.240 --> 1:38:31.200 you can have an intelligent conversation with them about your profile. Right, 1:38:31.320 --> 1:38:34.280 so I can say, look, this is my fight, go 1:38:34.880 --> 1:38:38.960 I got a forty over forty two debt to income ratio, 1:38:39.080 --> 1:38:41.920 I'm already pre approved from ABC lender to get the 1:38:41.960 --> 1:38:47.000 home Ready program with I'm doing five percent down. These 1:38:47.000 --> 1:38:50.000 are my specs. A knowledge to a loan officer is 1:38:50.000 --> 1:38:51.479 going to hear that and say, oh, you know what 1:38:51.479 --> 1:38:54.400 you're talking about, Well, based off what you're saying, I 1:38:54.439 --> 1:38:56.280 can get X, Y and Z for you. You know 1:38:56.320 --> 1:38:57.920 what I mean? What did they quote you? Oh? I 1:38:57.920 --> 1:39:00.240 can probably do that too. Right without your you have 1:39:00.360 --> 1:39:02.519 to go through the credit polls, and that's when you 1:39:02.560 --> 1:39:05.880 get more into being like that interviewer, you know what 1:39:05.920 --> 1:39:09.360 I'm saying, versus the emotional home buyer where it's just 1:39:09.439 --> 1:39:13.200 like you're happy just to get several pre approval letters 1:39:13.200 --> 1:39:16.920 and offers and you're just like you're happy, go lucky, right, 1:39:16.920 --> 1:39:19.719 and now multiple people don't run your credit for absolutely 1:39:19.800 --> 1:39:24.360 no reason. So for me, that's why we did the 1:39:24.400 --> 1:39:27.519 home Buyers Blueprint Volume one and Volume to, especially Volume 1:39:27.560 --> 1:39:31.400 one to teach you guys how to be honestly. People 1:39:31.439 --> 1:39:34.120 have taken the blueprint and now they're loan offices because 1:39:34.160 --> 1:39:36.000 of the blueprint because they taught them so much and 1:39:36.040 --> 1:39:37.120 now they got into the game. 1:39:37.800 --> 1:39:38.000 Right. 1:39:38.280 --> 1:39:40.519 So if you and you have access to the blueprint, 1:39:40.600 --> 1:39:42.080 so I would tell you go in there and study 1:39:42.120 --> 1:39:44.639 that bad boy so over fifteen hours of great information, 1:39:44.760 --> 1:39:46.800 and they will teach you everything that you need to know, 1:39:47.000 --> 1:39:50.080 how to calculate your income, how to figure out your 1:39:50.080 --> 1:39:52.920 debt to income ratio. Hell, you'll probably be when you 1:39:52.920 --> 1:39:56.000 finish the blueprint. You can preapprove yourself. You know what 1:39:56.040 --> 1:40:00.840 I'm saying, and you'll know exactly what you're doing. So 1:40:01.960 --> 1:40:04.920 I would say, can you to answer your question, yes, 1:40:05.040 --> 1:40:07.280 can you go to multiple lenders at the same time 1:40:07.360 --> 1:40:10.320 run your credit get three different pre approvals? Absolutely, But 1:40:10.320 --> 1:40:12.599 if you got the home Buyers Blueprint at your disposal, 1:40:12.680 --> 1:40:13.280 you don't need that. 1:40:13.840 --> 1:40:16.160 You don't really need that, Okay, perfect. I am an 1:40:16.200 --> 1:40:19.559 e y L member, So I'm gonna go ahead and 1:40:19.600 --> 1:40:22.120 get in there and take another look at that. 1:40:22.600 --> 1:40:26.479 Take advantage, take advantage. We got wet, we got the 1:40:26.520 --> 1:40:29.639 assessments after every chapter. You're gonna be able to test 1:40:29.680 --> 1:40:32.920 your knowledge base, and and then you got MG. You 1:40:32.960 --> 1:40:35.519 can always hit me up too, because I respond to 1:40:35.560 --> 1:40:38.679 the earnest every day all day. That is so true, 1:40:39.120 --> 1:40:42.680 that priceless, that's price, that's perfect. I could charge all 1:40:42.720 --> 1:40:46.680 twenty bands for that. I ain't gonna hold y' all up. 1:40:47.960 --> 1:40:50.160 I hear that, Thank you so much. I have one 1:40:50.160 --> 1:40:54.280 more question, real quick guidelines, just real quick. So can 1:40:54.320 --> 1:40:56.920 you do an f H I think you answered that already. 1:40:56.960 --> 1:40:59.360 You could do an FAH a loan on a multi property, 1:41:00.240 --> 1:41:05.559 on a multi unit property. But here in here in 1:41:05.600 --> 1:41:10.560 Brooklyn and New York City, like everything is so expensive 1:41:11.000 --> 1:41:16.960 right now? What happens if can I don't know if 1:41:16.960 --> 1:41:21.000 we have like the Albany the banks where you can 1:41:21.120 --> 1:41:23.960 kind of get houses that are on foreclosure and whatnot. 1:41:24.040 --> 1:41:26.679 But can you use an FHA loan towards a multi 1:41:26.720 --> 1:41:29.479 property that might be on foreclosure lists? 1:41:30.240 --> 1:41:33.839 Absolutely right, you can buy. You can use an FHA 1:41:33.920 --> 1:41:37.080 loan for a burntdown bando building and get the money 1:41:37.120 --> 1:41:41.160 to repair it. Noted, you can get one hundred percent 1:41:41.200 --> 1:41:44.120 of your rehab cost. You can put down as little 1:41:44.120 --> 1:41:46.920 as three point five percent down. You can buy a 1:41:47.000 --> 1:41:51.160 burntdown band do and use an FHA two or three K, 1:41:51.360 --> 1:41:53.800 and you have access to the homebase buullprint volume, to 1:41:53.880 --> 1:41:58.360 the rehab pack that teaches you all of that too, right, huh? 1:41:58.760 --> 1:41:59.919 Trapping out the bend. 1:41:59.680 --> 1:42:04.519 Though, trapping out the bando in my ashad voice, the 1:42:04.600 --> 1:42:06.920 two or three K will help you trap out the bando. 1:42:07.280 --> 1:42:11.919 And this is the perfect tool for anybody, for especially 1:42:12.479 --> 1:42:16.360 first timers who are looking to become real estate investors. 1:42:16.680 --> 1:42:19.320 The two or three K gives you that training wheels 1:42:19.320 --> 1:42:21.800 because you have what's called the HUT consultant. That HUT 1:42:21.880 --> 1:42:26.120 consultant acts like a construction project manager, and that person 1:42:26.240 --> 1:42:30.439 is there to protect you and the bank from the contractors. 1:42:30.479 --> 1:42:34.720 See your in tractors con artist tractors. Right. So it's 1:42:34.760 --> 1:42:38.360 a perfect tool to use, and I highly advise if 1:42:38.400 --> 1:42:42.720 you want to go that route foreclosure short sells react 1:42:43.040 --> 1:42:45.080 use that two or three K for you advantage, especially 1:42:45.120 --> 1:42:47.479 in a high court state like New York where it 1:42:47.600 --> 1:42:51.320 is so expensive here to buy multifamilies, you have to 1:42:51.360 --> 1:42:55.400 find that rundown piece of crap house. But no, the 1:42:55.400 --> 1:42:57.640 two or three K is there to help you, and 1:42:57.680 --> 1:43:00.920 it's included in your membership. Take advantage, all. 1:43:00.920 --> 1:43:05.439 Right, Thank you so so much, Thank you Ashley, no problem. 1:43:05.720 --> 1:43:09.320 Actually, shout out to you with the black money from too. 1:43:09.400 --> 1:43:10.200 That was a great time. 1:43:10.920 --> 1:43:13.240 Shout out to two. Shout out to my god too. 1:43:13.360 --> 1:43:17.000 Look man, the Home Buyer Blueprint Volume one is worth 1:43:17.080 --> 1:43:20.559 at least a thousand dollars minimum. Vayume one and Volume 1:43:20.600 --> 1:43:24.519 two at least twenty five hundred dollars. So when I'm 1:43:24.640 --> 1:43:28.200 talking about Vayume one and Volume two added bundle together 1:43:28.800 --> 1:43:31.840 with everything else that's in Eyo University, which we go 1:43:31.960 --> 1:43:33.960 but and you get to ask questions for market, mondays, 1:43:34.200 --> 1:43:35.160 that's that's the number one. 1:43:35.160 --> 1:43:36.280 How do you get to ak Zoom questions? 1:43:36.280 --> 1:43:40.040 You gotta be in Eyde University for five hundred dollars 1:43:40.080 --> 1:43:40.479 for a year. 1:43:41.160 --> 1:43:43.720 It's never going to happen again, I promise you. I 1:43:43.800 --> 1:43:44.800 promise you It's never to happen. 1:43:45.000 --> 1:43:47.160 They corrected you. They said this is even lower than 1:43:47.280 --> 1:43:47.920 Black Product. 1:43:47.960 --> 1:43:49.240 What was Black fridayt They said it. 1:43:49.200 --> 1:43:51.879 Was I think it was six right. 1:43:54.120 --> 1:43:58.080 Lower sale evidence lower than Black priduct for ninety nine 1:43:58.800 --> 1:44:02.680 entire year US bootprint Volume one, Volume two, access to 1:44:02.720 --> 1:44:06.720 the Facebook group, access to the Infinity Clubs, access to 1:44:07.000 --> 1:44:09.880 my monthly financial planning calls, access to the movie club 1:44:09.920 --> 1:44:12.880 and the book club. Access to the weekly classes that 1:44:12.920 --> 1:44:15.360 we have on Zoom every single Wednesday at eight o'clock. 1:44:15.479 --> 1:44:19.959 Access to the weekly investment classes toward by Chris. 1:44:21.479 --> 1:44:25.120 Access to my monthly calls. Mm hm, those things, those 1:44:25.160 --> 1:44:26.920 things going for three hours. 1:44:26.600 --> 1:44:28.720 And we got an in person experience that we go 1:44:29.360 --> 1:44:35.519 crafting in person experience that's coming coming soon exclusive for 1:44:35.560 --> 1:44:37.040 EYO University members. 1:44:38.240 --> 1:44:40.400 Oh wait till they get that one. Oh my lord, 1:44:42.560 --> 1:44:45.240 if y'all don't join now just because of out of it, 1:44:45.720 --> 1:44:48.000 y'all see INVESTMENTST. Hold on, let me talk some shit 1:44:48.040 --> 1:44:49.800 real quick. Y'all see INVESTMENTST. 1:44:51.240 --> 1:44:55.160 And that's fast. It's going to be the biggest ever ever. 1:44:55.640 --> 1:44:57.479 Imagine what we do for this for the. 1:44:57.479 --> 1:45:02.280 Earners INVESTMENTST Investments dot com Man. When you when you 1:45:02.280 --> 1:45:05.479 could put the mortgage guy in nineteen keys, Ian Dunlap, 1:45:05.600 --> 1:45:12.000 Wall Street Trapper, Aristotle Investments, Chris Johnson, Donald Watson, Milano 1:45:13.360 --> 1:45:18.040 in uh DJ Envy Caesar, when you could put them, 1:45:18.160 --> 1:45:22.960 and then you add Steve Harvey, You add Charlamagne the God, 1:45:23.560 --> 1:45:27.639 You add Rick Ross, you add Circle of CEOs, all 1:45:27.640 --> 1:45:31.960 of them. Yeah, you add t I P. You had 1:45:32.000 --> 1:45:35.959 Kenny Burns, we had Terrence J. You add Eric Thomas, 1:45:36.000 --> 1:45:39.520 the number one motivational speaker in the world, Terry. 1:45:39.840 --> 1:45:42.719 I don't forget that Terry doing that thing. 1:45:42.840 --> 1:45:43.679 Trade and travel. 1:45:45.280 --> 1:45:47.080 And you don't even mentioned Dan Keathy. 1:45:47.840 --> 1:45:52.160 Oh my, that's that's Sky's worth seven billion dollars. He's 1:45:52.200 --> 1:45:56.519 the former CEO of Chick fil At, David Shan's Sleepers 1:45:56.520 --> 1:45:58.320 for Suckers Ash Cash. 1:45:59.080 --> 1:46:00.720 Is this it to say that Cathy will not be 1:46:00.720 --> 1:46:02.120 the only billionaire in attendance? 1:46:03.640 --> 1:46:08.559 Stay tuned, Stay tuned, Stay tuned. 1:46:10.120 --> 1:46:13.599 It's your fr P ticket, it's your fr ticket. It's 1:46:13.640 --> 1:46:15.759 not fit to fight. That's the dune. 1:46:15.920 --> 1:46:19.160 MG, not fear what we what we're doing is not fair. 1:46:19.400 --> 1:46:23.439 It's a missile strike. It's as we have a missile strike, 1:46:23.560 --> 1:46:27.360 and we got we got a basement full of unreleased 1:46:27.520 --> 1:46:28.479 nuclear bombs. 1:46:28.560 --> 1:46:30.520 We got a basement. 1:46:30.160 --> 1:46:35.000 For y'all when our second wave come out, it's gonna 1:46:35.040 --> 1:46:35.400 be over. 1:46:36.320 --> 1:46:39.240 We got a basement of what Step said. 1:46:41.720 --> 1:46:44.240 That second wave gonna hit you out like a title wave, 1:46:44.439 --> 1:46:47.880 a tsunami. I'm trying to tell y'all, man, I can't 1:46:47.920 --> 1:46:48.800 wait to we announce it. 1:46:50.040 --> 1:46:54.840 Wow, best fast man, y'all need to be in man, 1:46:55.640 --> 1:46:56.519 there's gonna be a whole. 1:46:56.360 --> 1:46:57.280 Weekend of experience. 1:46:57.400 --> 1:47:00.320 Is gonna have the official after party shots my brother 1:47:00.400 --> 1:47:02.160 Smitty and that's. 1:47:04.640 --> 1:47:06.439 Man. I don't want to give it. 1:47:06.400 --> 1:47:08.400 A comparison, but there's none. 1:47:08.920 --> 1:47:11.479 Every year it's gonna get bigger and bigger, and it's 1:47:11.479 --> 1:47:15.720 gonna the city of Atlanta. I need to actually at 1:47:15.720 --> 1:47:18.800 this point, Atlanta, we need to we need to be 1:47:18.920 --> 1:47:22.759 compensated from the city because we raised the ticket prices 1:47:22.840 --> 1:47:23.320 last year. 1:47:23.680 --> 1:47:24.920 My ball was shout out to Bubbles. 1:47:24.920 --> 1:47:27.760 He was coming from New York and last minute flight 1:47:27.960 --> 1:47:29.639 and he was like, why is the flight's eight hundred 1:47:29.680 --> 1:47:32.240 dollars to Atlanta. It's like two hundred dollars flight. And 1:47:32.280 --> 1:47:34.360 he called the airlines and it was like, we're seeing 1:47:34.400 --> 1:47:36.360 an uptake for some reason. I don't know what's going on, 1:47:36.400 --> 1:47:38.559 but we're seeing an uptick and travel from New York. 1:47:39.000 --> 1:47:41.880 We we we raised the ticket prices last year. That's 1:47:41.880 --> 1:47:42.360 a fact. 1:47:42.960 --> 1:47:48.599 We are responsible for raising ticket prices, like we caused 1:47:48.600 --> 1:47:50.639 the inflation in the marketplace in Atlanta. 1:47:54.800 --> 1:47:57.680 At l man, let's have a conversation. 1:48:00.240 --> 1:48:00.800 Hit up the mayor. 1:48:01.160 --> 1:48:02.640 We could take this on it. We could take this 1:48:02.760 --> 1:48:03.479 to another city. 1:48:03.920 --> 1:48:05.679 This is true. 1:48:05.920 --> 1:48:07.200 We could take this to another city. 1:48:07.200 --> 1:48:11.720 We gotta look at the ticket prices for planes, for hotels, restaurants, 1:48:11.840 --> 1:48:13.200 hookah lounges. 1:48:13.280 --> 1:48:15.559 Gentlemen clubs, forget about it. 1:48:15.760 --> 1:48:19.519 Everything goes up that weekend, everything up that weekend. 1:48:20.000 --> 1:48:22.120 You know, it's gonna go out that VI I P 1:48:22.360 --> 1:48:24.040 VI P then on that Thursday. 1:48:25.760 --> 1:48:27.120 That's that's. 1:48:34.400 --> 1:48:39.760 It's about having fun. We can't forget my Hoday Caseo vintage. 1:48:43.680 --> 1:48:45.679 I've become a fashion these days. 1:48:46.680 --> 1:48:48.720 Shotti is or not. I ain't gonna hold you, bro. 1:48:49.200 --> 1:48:51.599 I saw the Caseo earlier in the video. I saw 1:48:52.120 --> 1:48:53.240 trying to kill him early. 1:48:54.160 --> 1:48:58.479 You got it, race. You can't run from who you are. 1:49:00.400 --> 1:49:03.040 It's not I always did fashion my whole life, so 1:49:03.320 --> 1:49:04.400 this would only make sense. 1:49:04.439 --> 1:49:08.479 The next move. Wait till the next move that you see. 1:49:11.520 --> 1:49:22.040 It's called bigger, Yeah, bigger, respectfully, man, you gotta have 1:49:22.080 --> 1:49:22.680 fun with it, man. 1:49:22.680 --> 1:49:24.800 If you're not having fun, life is too short not 1:49:24.880 --> 1:49:27.400 to have fun. Man. That's why we do this edutainment. 1:49:27.439 --> 1:49:27.960 We missed. 1:49:28.120 --> 1:49:30.960 We mix education with entertainment and we put it in 1:49:31.000 --> 1:49:33.200 a blender and we just have fun. 1:49:33.200 --> 1:49:33.400 Man. 1:49:33.439 --> 1:49:34.200 That's what it's about. 1:49:34.800 --> 1:49:38.720 Yeah, that's all, you know. That's it. 1:49:38.800 --> 1:49:41.960 Don't take yourself too seriously. Gotta have fun with it. 1:49:42.320 --> 1:49:45.680 Got to educate people. You gotta make money, and you 1:49:45.680 --> 1:49:47.040 gotta stay fresh at all times. 1:49:47.400 --> 1:49:48.559 That's very very important. 1:49:49.080 --> 1:49:54.200 Responsibility, very important. Yes, it's the way. 1:49:55.080 --> 1:49:56.960 You quick guy. 1:49:58.920 --> 1:49:59.120 I know. 1:49:59.200 --> 1:50:00.599 Our demonstration get. 1:50:00.439 --> 1:50:05.519 Fresher that client. So I say that to say Eyo University. 1:50:05.560 --> 1:50:09.080 If you're not Eyo University, you gotta question things. You 1:50:09.120 --> 1:50:11.000 gotta sit down and start to question things in your 1:50:11.040 --> 1:50:14.400 life four ninety nine. Nobody else is doing that, not 1:50:14.520 --> 1:50:16.400 one person, nobody. 1:50:16.479 --> 1:50:20.360 I'm gonna be honest with you. This price point is disrespectful. Yes, 1:50:20.800 --> 1:50:23.000 for the amount of value that people get for this 1:50:23.360 --> 1:50:28.400 dollar amount, Like, we give more value than I think anybody. 1:50:28.479 --> 1:50:32.120 I'm not gonna hold you up out of it. Let 1:50:32.200 --> 1:50:34.920 me take a matter of fact, we give more value 1:50:34.960 --> 1:50:37.719 than anybody for the price points. This is the most 1:50:37.760 --> 1:50:44.280 affordable educational platform in the marketplace for less than a 1:50:44.400 --> 1:50:45.799 night at Pasha's in Atlanta. 1:50:47.160 --> 1:50:51.639 Funny you say that, you know what demonstration I'm trying 1:50:51.640 --> 1:50:54.720 to tell you, Like you go out with your home, 1:50:54.920 --> 1:50:57.760 you go to chop House, Time Square, You're gonna spend 1:50:57.880 --> 1:50:59.560 triple that with your friends. 1:50:59.479 --> 1:51:02.880 At least at least you're gonna have to go for 1:51:02.920 --> 1:51:05.799 eighteen hundred dollars at shop house House last weekend. 1:51:06.320 --> 1:51:11.200 Glad I was sick. I don't miss those bills. Those 1:51:11.240 --> 1:51:13.400 bills they come up, but you would think about it, 1:51:13.439 --> 1:51:17.759 that's one night of just enjoying with the family and friends. 1:51:18.880 --> 1:51:22.519 You can get three people. You can get two people 1:51:23.000 --> 1:51:25.839 at E y l U and a couple of tickets 1:51:25.840 --> 1:51:27.759 for a vest Fest for that same price. 1:51:28.840 --> 1:51:29.280 True. 1:51:29.840 --> 1:51:33.679 Yes, priorities, priority is important. 1:51:34.120 --> 1:51:38.080 Train rolls along by own university is investing yourself. Biggest 1:51:38.120 --> 1:51:40.600 investment you can make invest Fest. 1:51:41.479 --> 1:51:41.960 And we will. 1:51:42.000 --> 1:51:42.599 We will be there. 1:51:43.000 --> 1:51:46.880 So it's called stay tuned. I encourage you every every 1:51:46.880 --> 1:51:49.360 time we do something, we do it big. We went 1:51:49.400 --> 1:51:52.360 to our bossle, we had DJ Callet, we had Sean 1:51:53.360 --> 1:51:56.000 Sean Poe, like that's Shan Poe. 1:51:57.479 --> 1:52:05.680 I ain't want the phone calls today. 1:52:03.000 --> 1:52:08.799 Man, y'all gonna see soon enough. Man, y'all can't see. 1:52:08.600 --> 1:52:11.160 Soon enoughs today alone. 1:52:12.120 --> 1:52:14.400 Look y'all gonna see soon enough. When Shoty hit me 1:52:14.439 --> 1:52:16.880 with the call today, I said, oh really we got 1:52:16.880 --> 1:52:19.760 a call after that? Oh really. 1:52:21.400 --> 1:52:22.000 After this match. 1:52:22.000 --> 1:52:24.679 See look, guys, this is real time. I'm not even 1:52:24.760 --> 1:52:27.840 upten on the other call that happened yet because they've 1:52:27.880 --> 1:52:30.360 been moving to shake and I've been moving and shaken, right, 1:52:30.800 --> 1:52:33.400 But the call Shotty already hit me with it was like, 1:52:33.600 --> 1:52:35.639 oh I had to look at my phone, like. 1:52:36.000 --> 1:52:43.479 Damn, still in the meeting, still they call it the. 1:52:43.439 --> 1:52:47.200 Biggest for a reason at far. 1:52:49.200 --> 1:52:52.080 Yeah, the best part is that the people here, they're 1:52:52.080 --> 1:52:53.960 gonna get to enjoy it. And we tell y'all first 1:52:53.960 --> 1:52:56.240 hand because every time we talk like this, I know 1:52:56.240 --> 1:52:58.120 we're saying in a jest, but we're really serious, like 1:52:59.000 --> 1:53:01.080 what we're about to do it has never been done, 1:53:01.280 --> 1:53:02.920 and we're glad that our community is gonna be there 1:53:02.920 --> 1:53:04.320 to celebrate it with us, because it's a win for 1:53:04.360 --> 1:53:04.760 all of us. 1:53:05.120 --> 1:53:07.320 It's a win for the space, it's a win for 1:53:07.360 --> 1:53:08.639 the community, it's. 1:53:08.520 --> 1:53:10.560 A win for the world really because financial literacy, like 1:53:10.600 --> 1:53:12.800 I said, is a world topic and we you know, 1:53:12.920 --> 1:53:14.720 we we're fortunate to be at the forefront of it, 1:53:14.800 --> 1:53:16.599 and we take that very seriously. 1:53:16.920 --> 1:53:20.000 Well, we do it with fun, so you gotta gotta 1:53:20.000 --> 1:53:20.400 have fun. 1:53:20.680 --> 1:53:23.559 But we thank you, guys, Thank you for joining us 1:53:23.760 --> 1:53:26.759 as always, Thank you for rapping with us. More information 1:53:26.840 --> 1:53:30.000 every single day. Don't stop, more information every single day. 1:53:31.200 --> 1:53:35.040 Just keep spreading the word. Subscribe, Watch Rants and Gyms 1:53:35.240 --> 1:53:38.000 every single Wednesday. Watch Earni Legion every Tuesday, Watch Market 1:53:38.080 --> 1:53:41.479 Mondays and every Monday. Watch Inside the vaulte Inside the 1:53:41.560 --> 1:53:45.800 Vote every Thursday. High level conversations whenever The nineteen Keys 1:53:45.840 --> 1:53:46.839 decides to put episodes. 1:53:47.240 --> 1:53:51.719 We got trapped Saturday. But yeah, this Saturday trap. 1:53:51.760 --> 1:53:55.240 I spoke to him. Today's birthdays coming up, so happy birthday. 1:53:54.960 --> 1:53:55.360 To my brother. 1:53:55.760 --> 1:53:57.479 Shout out the big trap. Make sure y'all watch that. 1:53:57.520 --> 1:53:59.639 We just dropped the ransom jams with Jose to credit 1:53:59.760 --> 1:54:03.040 due talking about that business credit in real estate. Man, 1:54:03.120 --> 1:54:05.559 So go ahead after this, go watch that. It's a 1:54:05.600 --> 1:54:08.879 phenomenal episode. So shout out to Jose. He's a certified 1:54:08.920 --> 1:54:10.080 cham Sure. 1:54:10.360 --> 1:54:18.599 Matt breaking loose Alric. We gotta go, y'all, y'all, peace, 1:54:18.880 --> 1:54:23.280 I gotta go. I'm Tom, y'all, y paar me your phone. 1:54:23.280 --> 1:54:25.599 You're rocking with the biggest right now. 1:54:25.680 --> 1:54:28.680 Eyl University forty eight hour flash sale. Don't miss it. 1:54:28.720 --> 1:54:31.519 Go to euyuniversity dot com. The night wait until you 1:54:31.560 --> 1:54:35.080 see what we got to do is call Please don't 1:54:35.120 --> 1:54:36.520 play yourself. 1:54:39.560 --> 1:54:41.800 Yo. Congratulations, y'all have a good night. 1:54:43.160 --> 1:54:44.880 It depends day if you celebrate. 1:54:44.520 --> 1:54:44.920 That all that. 1:54:45.320 --> 1:54:48.480 Oh my Matt, pick up your phone please, y'all right now, 1:54:48.800 --> 1:54:49.400 get right up. 1:54:50.320 --> 1:54:54.000 An illegal alien from Guatemala charged with raping a child 1:54:54.040 --> 1:54:57.840 in Massachusetts. An MS thirteen gang member from El Salvador, 1:54:58.080 --> 1:55:02.720 accused of murdering a Texas of Venezuelan charged with filming 1:55:02.760 --> 1:55:06.560 and selling child pornography in Michigan. These are just some 1:55:06.680 --> 1:55:10.520 of the heinous migrant criminals caught because of President Donald J. 1:55:10.600 --> 1:55:11.560 Trump's leadership. 1:55:11.840 --> 1:55:15.440 I'm Christy Noman, the United States Secretary of Homeland Security. 1:55:15.760 --> 1:55:19.520 Under President Trump, attempted illegal border crossings are at the 1:55:19.560 --> 1:55:24.360 lowest levels ever recorded, and over one hundred thousand illegal aliens. 1:55:23.920 --> 1:55:24.760 Have been arrested. 1:55:25.040 --> 1:55:28.600 If you are here illegally, your next you will be 1:55:28.640 --> 1:55:32.520 fined nearly one thousand dollars a day, imprisoned, and deported. 1:55:32.960 --> 1:55:36.200 You will never return. But if you register using our 1:55:36.240 --> 1:55:39.440 CBP home app and leave now, you could be allowed 1:55:39.480 --> 1:55:44.440 to return legally. Do what's right. Leave now. Under President Trump, 1:55:44.600 --> 1:55:48.160 America's laws, border and families will be protected. 1:55:48.280 --> 1:55:50.400 Sponsored by the United States Department of Homeland Security.