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How to Buy a Home: The #1 First Time Home Buyer Podcast

180 - Online Mortgage Calculators Are GARBAGE - Here’s Why

How to Buy a Home: The #1 First Time Home Buyer Podcast

David Sidoni

News, Education, Business, How To, Investing, Business News

4.8891 Ratings

🗓️ 25 April 2023

⏱️ 33 minutes

🧾️ Download transcript

Summary

There are TONS of online mortgage calculators where you can type in your numbers and find out what mortgage you can afford. Sounds cool, right? Well, David checked them all out and the bottom line is that they are not accurate. In this episode, he gives you some truth bombs about the one-size-fits-all approach to buying a home. If you want a hint, think Chutes and Ladders. Sound familiar?


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This podcast was created for YOU - to cut through the confusion and empower you to buy your first home. Let's change how the real estate industry treats first-timers, one buyer at a time- starting with YOU!


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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.


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Transcript

Click on a timestamp to play from that location

0:00.0

On Air Brands.

0:04.2

Yeah, everybody, I'm here to tell you, if you're looking for your numbers, there's an app or a website or an online mortgage calculator where you can punch in the numbers and you'll get the monthly house payment based on the current market mortgage interest rate.

0:19.2

But I'm telling you, if you're using that number that it spits out as your goal number

0:24.6

without calculating in all of your own personal financial information, that's like, well,

0:31.9

it's like, um, I can't even think of a simile.

0:37.3

Play the music. I need time to think of a simile. Play the music.

0:38.0

I need time to think.

0:54.0

What has happened in my how to Buy a Homies?

0:56.3

I'm your host, David Sidoni, and I can't believe that I got simile stumped.

1:02.3

Oh, man.

1:03.9

All right, well, I had the music, got some time, so let me try one on you.

1:07.5

Using an online mortgage calculator to set your home buying goals is like picking your life

1:14.4

partner from a photo-only dating app. Bam! I still got it. What's up, everybody? If you're

1:22.1

watching this on video, you'll notice I have an 8 o'clock shadow because, yeah, your boy got

1:27.2

started writing on this,

1:28.5

and I just went crazy. So you're going to get the information that you came for today,

1:33.3

and then you're going to get a little soapbox, a little bit of a tirade, just a tiny touch of

1:41.6

my manifesto part four or five. But we're going to start with the things you came

1:46.5

for. So what I'm going to do in this episode is I'm going to rip through a whole bunch of the

1:50.3

details. And it's going to help explain that why trying to just save for your home on your own

1:57.3

can mean that you might hit tons of shoots in the game of shoots and ladders

2:01.9

that is your roadmap to buy in a home. Shoots create setbacks when you think that you are moving

...

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