Understanding Mortgages: How to buy a house in the 21st century?
Update: 2024-11-05
Description
This is my series on, "How to buy a home in the 21st century?" I will be releasing this step by step guide on a weekly basis. If you have any questions or topics you'd like me to cover, please leave a comment below.
In this episode I dive deep into understanding mortgages.
3:05 What is a mortgage?
5:54 Interest Rates vs APR
8:00 Who should you call to get pre-approved?
13:15 FHA vs Conventional
14:50 Fixed vs Variable Rates
18:58 BRRRR
19:58 PMI
21:48 : HELOC
Video Resources:
- My interview with a mortgage officer: https://www.youtube.com/watch?v=O8jZqZMiYjk&t=2461s
- My video talking about calculating interest rates on loans: https://www.youtube.com/watch?v=p-51gEbeRLM
- BiggerPockets Explaining Mortgages: https://www.youtube.com/watch?v=NXIJflkeNbc
- Dave Ramsey explains how you calculate monthly interest payments for a mortgage: https://www.youtube.com/watch?v=1JdCYPSQAg4
- Article covering what determines your credit score: https://farmcreditcfl.com/resources/article/26-factors-determining-your-interest-rate
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