First Time Home Buyers - How To Buy a Home

We're looking at some of the most devious scams and practices that could happen to first-time home buyers. From fake rental listings, bait and switch schemes, to the devastating impact of title fraud - we expose the top 10 that can affect you. 

We look at the importance of title insurance and the potential pitfalls related to property titles. It's not about scaring you, but empowering you with crucial information. We look into the dark world of predatory lending and home improvement scams, loan flipping, the cybercrime of escrow wire fraud, and the deceitful world of scamming contractors. 
But we're also arming you with practical steps to combat these scams. We discuss the importance of due diligence, understanding the fine print of your loan terms, and the value of an independent home inspection. Remember, knowledge is power, and power is what you will gain from this enlightening episode. So tune in, and let's fight these scams together.

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Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

What if we told you that choosing a smaller home could actually lead to a happier, more fulfilling life? Join us as we explore the ever-changing concept of the "right size" home and discuss how sometimes, less is more. We'll take you on a journey through the history of home sizes, from the early 20th century to the present day, and discuss the impact of events like the post-World War II housing boom, the energy crisis, and even the COVID-19 pandemic on our perception of the perfect home size.

Discover the benefits of owning a smaller home, such as lower maintenance and utility costs, and how it could contribute to building generational wealth. We'll also dive into the challenges of smaller homes, like storage and resale value, and provide practical tips on working around these issues. Plus, learn how to make the most of the space you have - regardless of square footage. Don't miss out on this insightful conversation that could help you make the best decision for your lifestyle and housing needs!

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Ready to embark on the rewarding journey of homeownership, but feeling overwhelmed by the process? Worry no more; we've got you covered with our First Time Homebuyers podcast! As your personal guide and licensed loan officer and real estate agent, I'm Phil, and we'll be navigating the home buying process together. From finding the right real estate agent or lender to understanding the terminology and proper etiquette for touring homes, we'll break down each step in a way that's easy to follow and understand.

On top of that, we're bringing in expert lenders and agents to share their insights and perspectives on various topics, ensuring you get a well-rounded understanding of everything you need to know. Don't forget to visit our website, FTHBPros.com, for more articles, tools like our Home Affordability Calculator, and a supportive community through our newsletter and Facebook group. Feel free to reach out with any specific questions - we're here to help you achieve your dream of homeownership. So, tune in, subscribe, and let's make your home buying journey as smooth as possible!

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Ready to take the plunge into your first condo or townhome purchase, but feeling overwhelmed by the financing process? Our resident expert, Sarah, is here to guide us through the your journey toward homeownership with a condo or townhome.

Our discussion not only uncovers the different types of loans available for condos and townhomes – such as conventional, FHA, and VA loans – but also dives into the nitty-gritty of interest rates, down payments, and occupancy ratios.

With Sarah's insights, you'll learn how to navigate the world of condo financing, determine if a property is non-warrantable, and even explore options for luxury condos with jumbo loans. Don't miss out on this essential information for first-time homebuyers and find out why we think a condo might just be the right option for many first time home buyers.

View full show notes and episode at our blog

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Are the myths about condos and townhomes holding you back from exploring their benefits? Tune in as we debunk 10 common misconceptions and discuss the pros and cons of condo and townhome living. Discover the key differences in maintenance, privacy, personalization, and selling between these housing options, and learn how they can offer more affordable home ownership in densely populated areas.

Don't let false beliefs stand in your way of finding the perfect home. In our conversation, we clarify the ins and outs of HOA fees, privacy, and customization options for your new abode. Plus, we share advice on what to look for when touring a potential property, and the importance of reading the governing documents of the homeowners association. Listen in to find out if a condo or townhome is the right choice for you.

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

As a first time home buyer, you may not know some of the Do’s and Don’t of touring a home, whether that’s going to open houses or a private tour with an agent. We’ll go over 8 do’s and 8 don’ts about touring homes, and talk about some key points to help you make the most of your time and experience.

Do's

1. Bring your real estate agent to an open house. If you don’t have an agent yet, we can help. Reach out via our contact page, or we’ve partnered with Home&Money, go to https://homeandmoney.com/FTHB/ and we’ll help connect you with a local, vetted agent.
2. Research the area and neighborhood prior to the open house visit.
3. Take detailed notes about each house to help you remember your thoughts and feelings about each home.
4. Highlight any features that you like or dislike, repairs needed, etc.
5. Ask questions of the real estate agent to get a better understanding of what is included in the sale of the house and any additional costs associated with it.
6. Make sure you check the layout of the house, such as flow between rooms and door locations, in addition to looking at finishes and features.
7. Take pictures or videos of the house to remember your thoughts and feelings about each home. 
8. Do keep all children supervised at all times.

Don’ts

1. Don’t use the bathroom.
2. Don’t talk about the home, good or bad, while near the home.
3. Don’t be afraid to ask questions or make comments about anything that you don’t understand – the real estate agents are there to help you!
4. Don’t rush through the house – take your time and get a good feel for each room as this will help with decision making later on.
5. Don’t enter a home if there isn’t an open house or you aren’t with an agent.
6. You might be tempted to do your own inspection of the home.
7. A peak into a closet is fine, but don’t look in places like medicine cabinets or jewelry boxes.
8. Don’t enter closed rooms without asking.

Show Notes and Article: https://fthbpros.com/podcast/home-touring-and-open-house-tips/

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

We'll be discussing the age-old question, how much should we spend on a home? With everyone's situation being unique, it's important to talk about the fundamentals of creating a budget and give you some overall guidance that you can use to come up with your ideal budget.

Tools & Resources:

• Show Notes & Article: https://fthbpros.com/first-time-home-buyer/how-to-budget-for-buying-a-house/
• Home Affordability Calculator
• Mortgage Calculator
• Home Budget - Google Sheet

Starting with the two things that you need to concern yourself with – what price home will your budget allow for, and what price home should your budget allow for? The main difference is what will a lender approve you for and what you're comfortable with spending. We'll dive into how lenders calculate your debt-to-income ratio (DTI) to know the maximum you can be approved for.

However, is that maximum amount realistic? We'll walk you through the general rule of spending not more than 25% of your pre-tax income on a mortgage payment.

We'll also be covering the three main sections that will help you understand what you should spend on a home:

1. Creating a budget and understanding how much you actually spend monthly
2. Looking at both your budget and the amount a lender will approve you for
3. Short-term and long-term planning, considering your career, living expenses, rent increases, and housing expenses.

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

I'm talking about one of my favorite down payment assistance programs that you can qualify for even if you make a higher income.

If you qualify for an FHA loan, you likely can qualify for this.

This program offers a 2% or 3.5% forgivable down payment and/or closing cost assistance with NO income limitations! That's right - no matter how much money you make, you may still qualify for this amazing opportunity. It can cover your down payment or closing costs, making it easier for you to afford upfront costs and become a homeowner.

Now, down payment assistance programs are not unusual, but what sets this program apart is that it's fully forgiven after just six months! Plus, this program is eligible in all states, except Washington. 

The main points I cover:

• Intro
• What is Down Payment Assistance
• The Empowered 3.5% Program
• Qualifications Needed
• Program Limitations
• How To Take Action

Meet ONE of the following 
* First-Time Homebuyer
* Current/Retired Employment or Volunteer/Non-Paid Member (Specific Job Types like working in the medical/education/first responder/etc.)
* Income
* Underserved Census Tract

Must Have:
Credit Score 620+
Take a Homebuyer Counseling course

Typically the cost is about 1% to 1.5% above a standard non-DPA FHA loan.
I have more info on down payment assistance, with more videos and podcast episodes added all the time: https://fthbpros.com/down-payment-assistance-programs/

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

We dive into the world of down payment assistance programs and how they can help you achieve your dream of homeownership. With housing affordability becoming a growing issue, these programs are becoming increasingly important for first-time buyers. 

In this episode, we discuss:

• The different types of down payment assistance programs and how they work
• The various requirements needed to be considered for these programs, such as income, credit score, and residency restrictions
• The upsides and downsides of using down payment assistance programs, including the impact on your buying power and potential disadvantages in a competitive seller's market
• Tips on how to find and apply for these programs in your local area

Whether you're struggling to save for a down payment or just need a little extra help with closing costs, down payment assistance programs can be a valuable resource in your home buying journey. Listen in to learn more about these programs and how they can help you achieve your homeownership goals!

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

One popular piece of advice given to first time home buyers is to “marry the house and date the rate.” This phrase refers to the idea of putting more emphasis on finding a house that meets your needs for the long term, and thinking of the interest rate in shorter or temporary term. We'll be taking a closer look at this concept and see what it means for you, the first time home buyer.

Send us Fan Mail

Connect with Dat Nguyen:
Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group 
NMLS 1379110

Free First-Time Homebuyer Tools:
FTHBPros.com

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.