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Marriage or Mortgage: How Do You Choose? (Or Can You Have Both?)

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On Home.com, I and others talked about how you can have both a wedding and a buy a new home. Check out what we said in the article and video below.

Article Link
Home.com

Video Link
TikTok

@khariwashington #Marriage or #Mortgage #realestate #personalfinance ♬ original sound – Khari Washington

Marriage or Mortgage? There’s actually a show about it that came out, and one of the questions that we talked about on Home.com is should you do a marriage or a mortgage? And the overwhelming consensus was you can actually have both. If you want to pare down the wedding. You should never sacrifice buying a house for an elaborate wedding, in my opinion. So some of the tips we talked about a lot of times when people are getting married, they buy expensive, elaborate food. When a lot of times people like simpler foods. Instead of having a far-flung destination wedding, all over the United States, there’s very inexpensive lakes and mountains that you can get a great deal on. Weddings are also short, so a lot of times things like chairs aren’t even needed. So you don’t forsake being with the one you love, but also don’t give up that financial security. Let me know your thoughts. Also, check us out and the Home.com article. I’ll put a link somewhere around this video so you could check it out. Please also like this video if you found it helpful.

Credit Secrets- Mortgage without Credit

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Lowermybills.com did an article about how you can buy a house without having any credit. Check out what I and others said in the article and video below.

Article Link
Lowermybills.com

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TikTok

@khariwashington Mortgage Secrets#mortgagetips #nocredit #homebuyer #personalfinance ♬ original sound – Khari Washington

So there’s something that a lot of people don’t know about. You can get a mortgage even if you have no credit. None, none at all. You can get a mortgage. The federal government has made it mandatory that Fannie Mae and Freddie Mac, the government insurers to mortgages, allow people to use alternative forms of credit to get a mortgage. That means if you don’t have a credit report, you can get a mortgage with your cell phone bill, your rent payments doctor’s bill. All sorts of stuff can be used as alternative proof that you can make your payments on your mortgage. So if your lender says that they cannot get you a loan because you have no credit history, go somewhere else. Because the government has made it that you can use alternative forms of credit to get a loan.

Home Equity Loans and HELOCs Come With Closing Costs. Here’s What to Expect

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In Time Magazine, I and others talked about Home Equity Lines of Credit and their costs. Check out what we said in the article and video below.

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Time Magazine

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TikTok

@khariwashington 2nd Mortgage On Your House #realestate #mortgagetips #personalfinance ♬ original sound – Khari Washington

So here’s a scenario for you. You have equity in your home, but you don’t want to refinance your first mortgage, but you want to get cash out of your home. How do you do it? Most people do it through what’s called a HELOC or second mortgage. What if this is if you take a loan against your house, it has a lower interest rate, but the bad part is now there’s a lean against your house for this money. So a HELOC allows you a line of credit. It’s called the home equity line of credit, almost like a credit card tied to your house with the lower interest rate than a credit card. A second, a regular second mortgage, is taking out a lump sum of money that you make monthly payments that you can’t re-borrow again. So what do you think? Are those good options for people to do? The bad part again, is you have a lien on your house and you’re going to be able to do great things like get into a car, redo your home, but you’re borrowing against your house. Do you think it’s a good idea? What about using a second mortgage to invest in other properties? Some people think it’s good. Some people don’t. What do you think?

Foolproof Rules For Using TikTok Marketing For Small Business

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In Enterprise League, I and others talked about foolproof rules for using TikTok marketing for small businesses. Check out what we said in the article and video below.

Article Link
Enterprise League

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TikTok

@khariwashington Rules For Using TikTok Marketing For Small Business #smallbusiness #entrepreneur #wealth ♬ original sound – Khari Washington

So Enterprise League did an article about foolproof rules to be successful in marketing on Tik Tok. And a few of us business owners gave them six different ways that you can be successful using TikTok. So I want to see what you guys think. The first is be brief and to the point in your messaging. Second one, don’t overspend on production. Third, be and looked comfortable. Fourth, collaborate with smaller influencers. Fifth, do work in progress videos. Those are those videos where you show them making of your product, and the sixth is host contests and giveaways. So I know TikTok is sometimes unpredictable and which videos actually do something. So what do you think? What do you think people can actually do to become more successful on TikTok? We’d love to hear from you.

Here’s What A Mortgage Closing Disclosure Tells You

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The mortgage closing disclosure is an important disclosure when getting a loan. Make sure to understand it so you have an outstanding mortgage experience.

In Time Magazine Time.com, I and others talked about how the mortgage disclosure works. Check out what we said in the article and video below.

Article Link
Time

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TikTok

@khariwashington Wait! Don't Skip This When Getting A Mortgage. #personalfinance #realestate #mortgagetips ♬ original sound – Khari Washington

So when you’re getting a mortgage, the one thing you cannot do is not read your mortgage closing disclosure. Whatever you do, make sure you read that when you get a mortgage, you’re going to get all sorts of paperwork and you’re tempted to just skip over things after a while. But stop, read the mortgage closing disclosure. It tells you your payments and terms. It tells you the closing costs, how much you’re going to pay for the loan, and the exact amount that you’re going to be putting down to get the loan. Whatever you do, make sure you read that because when you’re talking to the loan officer, all sorts of ideas are given back and forth and you want to make sure what you thought was going to happen with your mortgage is actually going to have it. So make sure you read that. And one thing you want to make sure you do. So what are your thoughts about the mortgage process?

Changing Mortgage Rates Impact On Realtors

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Mortgage rates have been chaning rapidly. How will the changing rates impact realtors?

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TikTok

@khariwashington Changing Interest Rates Impact On Realtors Reaction #realestate #personalfinance #realtor #interestrates ♬ original sound – Khari Washington

So interest rates affect realtor commissions a little differently than most people think they do. Realtors don’t make money because of higher, lower interest rates or property values going up and down. They make a lot more money from volume, more transactions happening. So, for instance, if a house now has a $5000 commission and before they would have made a four thousand eight hundred dollars commission, they’d rather do two or three houses with the four thousand eight hundred dollars commission than one house at a five thousand dollar commission. Even though the property values raised in general. As interest rates go down, more transactions happen and as interest rates go up, less transactions happen. In this core market, we’re at a low volume at all points, so most realtors need to be creative.

Can You Refinance a Reverse Mortgage Loan?

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In Home.com, I and others talked about how you can refinance a reverse mortgage. Check out what we said in the article and video below.

Article Link
Home.com

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TikTok

@khariwashington

How does a reverse mortgage work? ##mortgagetips ##personalfinance ##realestate ##reversemortgage ##conventionalmortgage

♬ original sound – Khari Washington

A lot of people have heard the term reverse mortgage, but have no clue what it is. A reverse mortgage is simply a mortgage in which the homeowner doesn’t have to make any payments during the life of the loan. However, there is no free lunch and all the interest accrues and is added to the principal balance of the loan. This loan is for people sixty two and over, and it allows them to qualify with very little income since they don’t have to make payments. However, they do need to have enough equity to allow that interest to grow. The bank only gets their money back if the person moves or if they pass away. The ideal situation for the bank is that there’s actually equity when the person moves out of the house and the family. Are they any different after the principal and interest is paid at the home? Value is actually lower than the principal interest. Then the bank sells the home and will take some type of loss. That’s how a reverse mortgage works.

Homebuyer Burnout: 7 Ways to Reduce Stress Around the (Sometimes Exhausting) Process

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In a Yahoo Finance article, I and others talked about clever ways to lower your household bills and save money. Check out what we said in the article and video below.

Article Link
Yahoo Finance

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TikTok

@khariwashington

Avoid ##Homebuyer ##Burnout ##realestate ##personalfinance ##stress ##buyingahouse

♬ original sound – Khari Washington

Hey, what’s up, are you looking to buy a house, but now you’re scared or you’re intimidated by how hard it is to find something in this market? Well, let me give you a few tips that I’ve seen work for people in this market. The first tip is to actually look for houses that are below what you can afford. So if you’re approved for four fifty, maybe look for houses around for 20. So don’t be the small fish at a higher price point. Be the big fish, be the strong buyer at a lower price point so that you went out on a house. The next tip? Make sure your first offer is your best offer. Don’t wait for that back and forth that a lot of people like to see you one on one with the seller. Sellers a lot of times have multiple offers, and they are taking the best person right up front. So make sure your offer is strong so that even if you aren’t the strongest, they want to talk to you and see how they can put together a deal. Those are two things that can help you win out in this market.

What You Need To Know About Mobile Home Financing – Best Mobile Home Loans

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Mobile home financing is very different from conventional financing. Check out what we said in the article and video below.

Article Link
US News

Video Link
TikTok

@khariwashington

##Mobilehome ##Financing ##personalfinance ##realestate

♬ Emotional Piano for the Soul (Inspirational Background Music) – Fearless Motivation Instrumentals

You want to save some money and buy a manufactured or mobile home but don’t know a lot about the financing. Well, here are a few things you need to know. Manufacturing and mobile home financing can work different depending on the type of manufacturing mobile home situation you are buying. If you’re buying a manufactured home or mobile home where you do not own the land, you have to get a different type of financing specifically for mobile homes. It has different interest rates, different terms, different everything, and only certain lenders offer it. So make sure your lender works with manufactured homes where you do not have a permanent foundation or do not own the land. If the home has a permanent foundation, a legal permanent foundation, you can use the same type of financing as any other type of home. You can use conventional and FHA financing, so make sure you know the specific situations of the home you’re buying so you can see who you need to get financed with.

How to make a cash offer on a house — with or without cash

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There are companies that will help you make a “cash offer” on a home without your own cash. Check out what we said in the article and video below.

Article Link
The Mortgage Reports

Video Link
TikTok

@khariwashington

##Howto Make A ##Cashoffer On A ##House With Or Without ##Cash ##personalfinance ##realestate ##buyingahouse

♬ Awkward Silence – The Elevator Music Jazz Trio

You can buy your house cash with or without your own cash. There are some companies out there now that will help you compete with cash offers when you’re buying your home. What they do is they’ll actually put up their cash for the house so that the seller thinks that the house is being bought cash. After the house closes, they then will then refinance the house and put it in your name for you so that way you can compete with all of those cash people out there and get a house on your terms. This will help you be more competitive. The catch is this will add a lot of costs to your loan, but you can see for yourself if this is something that is worth it for you. I have put a link to those companies that will help you buy your house cash without actually using your own cash.

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