Maximized Money

One thing about me is that I’m gon repeat an outfit. 💁🏾‍♀️

If I look cute in it, I will rewear it. For different seasons, different locations and different people okay! 😉

Instead of buying outfits for every occasion, I use that money to save, invest, travel and simply enjoy life. 🥂

Let’s normalize shopping in our closets and repurposing outfits before we go buy more ish we really don’t need. 🫣
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There's a lot that I wish I knew as a first time homebuyer. I had already failed through the process once but after taking the time to get my finances together and absorb a lot of first time home buyer advice, I re-entered to housing search and succeeded.

However, what I quickly learned, was that there wasn’t enough information out there for first time home buyers. I didn’t know how my credit score was going to impact my buying a house. I didn’t know that I could calculate my debt-to-income ratio on my own. I didn’t even know that there were other first time home buyer programs out there besides NACA.

So if you’re looking to buy a home in 2022, you’re in the right place. In this video, I share 5 things I wish I knew about homebuying before I bought my house. Share with an aspiring first time home buyer you know. I want us all to be better prepared.

What I Wish I Knew As A First Time Homebuyer There's a lot that I wish I knew as a first time homebuyer. I had already failed through the process once but after taking the time to get my finances togeth...

Most first time home buyers will have to go through the home loan process to purchase their homes. Not many have $200,000+ to purchase and that’s okay because there are 3 main loan types that I recommend you consider: FHA loan, conventional loan and the VA loan. And if you manage it right, it will provide you with a strong return on investment.

Loan 1: The FHA loan has many benefits. The main one is the down payment amount. Before the FHA, you didn’t have the opportunity to put down as little as 3.5% on your future home. This helps to level the playing field and allow more people to purchase their homes.

Loan 2: The conventional loans’ main benefit is that there is no private mortgage insurance. This is not to be confused with homeowners insurance, which is required for everyone. This is only applicable if you put down 20% for your down payment. Anything less than 20% will require private mortgage insurance.

Loan 3: The biggest benefit of VA loans is that there is no downpayment. Like wow! However, this is only applicable if the sales price is at or lower than the home’s appraised value (which an appraiser will confirm).

One of the biggest challenges that my followers share with me is centered around finances. They want to know how much they should save for a down payment and ultimately, that will be impacted by which home loan you decide to go with.

Keep watching to learn more about the top 3 loan types around as well as the pros and cons of each.

Home loans process | first time home buyer edition Most first time home buyers will have to go through the home loan process to purchase their homes. Not many have $200,000+ to purchase and that’s okay becaus...