How to Finance a Home (Even If You Don’t Have Excellent Credit or 20% Down)
Diabetes Digital Podcast by Food Heaven
Wendy Lopez, Jessica Jones
4.9 • 2.4K Ratings
🗓️ 3 August 2022
⏱️ 34 minutes
🧾️ Download transcript
Summary
INTERESTING FACT: I got a new construction loan to build @jewelcrestjoshua with absolutely NO money down (not even closing costs). While being able to take on a project like this does require an incredible about of privilege (good credit, having a decent proof of income, being able to spend countless hours navigating the system, cash reserves for permits, etc), I would have never realized that something like this could be done without a 5 or 6 figure downpayment.
Did you know that you DON’T need a 20% downpayment to secure a home loan? Or that the government will lend you money to buy a multifamily investment property. In today’s episode, we demystify how to secure a mortgage even if you don’t have excellent credit or 20% down. In today’s episode, we chat with Matthew Garland (@mgthemortgageguy), licensed mortgage broker and Division Manager at United Northern Mortgage Bankers on all things home loans. Be sure to tune in!
In This Episode We’ll Cover:
- With the market, and the economy right now, should we even be buying a house right now
- How much should we be saving for a down payment
- FHA vs conventional loans
- How to find the best financing programs
- & MORE
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Transcript
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| 0:00.0 | The following podcast is a deer media production. |
| 0:03.0 | Hi, I'm Wendy. |
| 0:04.1 | And I'm Jess, and you're listening to the Food Heaven podcast. |
| 0:07.0 | Your online resource for inclusive and accessible wellness. |
| 0:10.3 | Real Estate. |
| 0:23.2 | We see it everywhere, especially now. |
| 0:25.0 | I'm seeing all these like real estate TikTok videos. |
| 0:28.7 | Yeah, I mean, when you share them, there's a lot of actually, there's a lot of misinformation |
| 0:33.8 | on real estate. |
| 0:34.8 | If people make it see easier than it is, people make it seem like a get rich quick scheme. |
| 0:39.6 | And we thought that it would be really important to talk about this with someone who's actually |
| 0:45.2 | an expert and has years in the game, 19 years to be exact, our guest, Matthew Garland. |
| 0:52.4 | Matthew has over 19 years in the mortgage industry and more than a billion funded in home |
| 0:57.5 | loans. |
| 0:58.5 | He is a top advisor and leader in the mortgage industry and he is specifically a mortgage |
| 1:04.1 | broker. |
| 1:05.1 | So he's a perfect guest to chat about how to finance a home. |
| 1:08.4 | Yeah, we had so many questions for him from interest rates rising. |
| 1:14.5 | And is this the right time to buy a home? |
| 1:17.0 | We talk about that. |
| 1:18.6 | Talk about percentage down that people should be putting. |
| 1:21.4 | Should you put down the lower percentage? |
... |
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