249 - INTERVIEW: First Generation Home Buyers (Mortgage $200 LESS Than Rent!)
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 24 July 2024
⏱️ 39 minutes
🧾️ Download transcript
Summary
Buying a home for LESS than your rent AND with NO MONEY DOWN? DeShawn did it, and he's sharing all the secrets to his success, including how he scored a sweet deal with a little help from his "unicorn team" and the ever elusive First Time home buyer grant!
Highlights:
- "1800 bucks a month is a lot of money… $5,000 down payment and you pay $200 less a month. Amen, brother." Can buying a home actually COST LESS than renting? DeShawn shares how he did it, even with a modest down payment.
- "Unicorns are in it for your win." What's a "unicorn team" and how did they make DeShawn a homebuying "rockstar"?
- "Loose lips sink ships. We're not saying a word." DeShawn reveals an insider appraisal tip that scored him instant equity.
- "Everything I have, I have blood, sweat, and tears in." From pen and paper budgeting to a $200,000 home: DeShawn's inspiring "rags to real estate" story.
- "When your credit score is on point, it will go full circle for you." Is your credit score holding you back? DeShawn explains how awesome credit led to unexpected perks and a stress-free closing.
- "The Last Lease Ever Program" Thinking of buying in 2-3 years? You might be closer than you think! Find out how free personalized guidance could change everything for you.
Referenced Episodes: Episode 36
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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
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| 0:00.0 | coming from pretty much nothing leaving home when I was 15 I was homeless for a stretch of time |
| 0:05.7 | everything I have I have blood sweat and tears in we're just blazing the trail on obtaining |
| 0:12.4 | a home and doing this thing it sitting in the living room of my brand new home to us is just, it still hasn't set completely in. |
| 0:24.4 | Welcome to the party, homies. Is it possible to buy a home in this crazy market and actually pay less than your rent? |
| 0:32.2 | Hell yeah, it is. And that's just one of the unbelievable. No, like the true definition of unbelievable. |
| 0:39.8 | You know, literally, used correctly, unbelievable. |
| 0:43.8 | So if all you're hearing is horror stories from first-time homebuyers, |
| 0:47.2 | well, then you haven't heard what's going on with the homies. |
| 0:49.8 | Play that music! |
| 1:05.2 | Yeah. that music. All right, homies, get ready for it. |
| 1:06.7 | This is a three-part interview. |
| 1:08.6 | Part one is where Deshaun is going to tell us the story of him and his family planning to buy a home, |
| 1:14.3 | hooking up with a unicorn team and buying their first home. |
| 1:17.0 | And they used a first-time home buyer grant that gave them a zero down payment loan. |
| 1:21.9 | They only had to bring in $5,000. |
| 1:24.6 | I think it was less than that for their closing costs. |
| 1:27.0 | And their new PITI, the principal |
| 1:30.2 | interest taxes and insurance, it's $200 less than their $1,900 rent. And then in the middle of |
| 1:36.6 | the interview, what we're going to call part two, there's some great inspirational and motivational |
| 1:41.2 | tips from Deshaun. This dude, he's been doing this stuff on his own since he was |
| 1:46.1 | 15 when he got kicked out of the house. He was even homeless for a little while. And now using the |
| 1:51.9 | podcast, he found a way to create a plan to become a first time homeowner. And in part three of |
... |
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