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Accessing Real Estate Loans for First Time Buyers
If you’re a green, first time buyer, and you feel you really need help and tips for buying your first home, this episode is for you. If you’re experienced in real estate, you can send this episode to a friend, a loved one, or just listen for review. Buying a house these days is quite the achievement, it’s stressful and a lot of work to find the right place, having to talk with agents, learn about the law, and what your commitment will be once you buy. The type of transaction of this magnitude is not something you see or experience that often in our society, which is why you ask those you trust, such as industry experts, to give you help and mentor you through this process, just like you’re doing now in listening to this podcast.
“Be careful with Home Equity Lines of Credit. If you’re gonna use them, use them wisely and strategically, but make sure you have the cash flow off of assets to service the debt. You don’t want to be paying large interest bills out of your own personal account. It’s gonna hurt really bad and they’ll come and take that property away from you if you don’t pay that second mortgage, so don’t give any more of your power to the bank than they already have.” 12:20
- Soliciting the help of a knowledgeable real estate professional 2:05
- Pre qualification letter 3:20
- House hacking 5:20
- Owning many homes and building sustainable wealth 8:00
- The loan application process 10:35
“Be careful with Home Equity Lines of Credit. If you’re gonna use them, use them wisely and strategically, but make sure you have the cash flow off of assets to service the debt. You don’t want to be paying large interest bills out of your own personal account. It’s gonna hurt really bad and they’ll come and take that property away from you if you don’t pay that second mortgage, so don’t give any more of your power to the bank than they already have.” 12:20
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By LaunchPod Media inc.
5
55 ratings
If you’re a green, first time buyer, and you feel you really need help and tips for buying your first home, this episode is for you. If you’re experienced in real estate, you can send this episode to a friend, a loved one, or just listen for review. Buying a house these days is quite the achievement, it’s stressful and a lot of work to find the right place, having to talk with agents, learn about the law, and what your commitment will be once you buy. The type of transaction of this magnitude is not something you see or experience that often in our society, which is why you ask those you trust, such as industry experts, to give you help and mentor you through this process, just like you’re doing now in listening to this podcast.
“Be careful with Home Equity Lines of Credit. If you’re gonna use them, use them wisely and strategically, but make sure you have the cash flow off of assets to service the debt. You don’t want to be paying large interest bills out of your own personal account. It’s gonna hurt really bad and they’ll come and take that property away from you if you don’t pay that second mortgage, so don’t give any more of your power to the bank than they already have.” 12:20
- Soliciting the help of a knowledgeable real estate professional 2:05
- Pre qualification letter 3:20
- House hacking 5:20
- Owning many homes and building sustainable wealth 8:00
- The loan application process 10:35
“Be careful with Home Equity Lines of Credit. If you’re gonna use them, use them wisely and strategically, but make sure you have the cash flow off of assets to service the debt. You don’t want to be paying large interest bills out of your own personal account. It’s gonna hurt really bad and they’ll come and take that property away from you if you don’t pay that second mortgage, so don’t give any more of your power to the bank than they already have.” 12:20