Full details (what we know so far) of this program → kzread.info/dash/bejne/mYpt1JWTmZTLebQ.html

@williamsabalburojr.1351

3 жыл бұрын

Is there an update to this?

I am about to buy my first home. Your videos have educated me so much, you have no idea how thankful I am that I found your channel!!

@WinTheHouseYouLove

3 жыл бұрын

Yay congratulations!!!

@ayeeneek7025

3 жыл бұрын

@@WinTheHouseYouLove can you walk me through it I need your help

My parents migrated to the US as refugees in their 20s after the Vietnam war. Although I am considered first generation, I am not a first generation home buyer because my parents were fortunate enough to own a home. Bummer that I don't qualify, but I'm glad that the government is attempting to provide aid to those who need it the most.

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective!

@Lizbett21

3 жыл бұрын

I hear you!!! Same here; not fair for us!

@objectivelybiased8006

3 жыл бұрын

@@WinTheHouseYouLove so if my dad had a house but it got foreclosed is it still possible to qualify?

@pcoswellnessgroup

3 жыл бұрын

Same here. My parents had a home till 2005 and sold it due to their divorce. I’m the first in my family to own a home.

@SenWithA3

3 жыл бұрын

The people who need it most include those who are first time home buyers and not first gen, now we’ll have people with racked up student debt stuck at their parents houses if they don’t force them to move out, and then they’re stuck renting too. I don’t see it as fair.

Wasn't expecting a late video from you but I'm here for it! 🙂

@WinTheHouseYouLove

3 жыл бұрын

Hope you enjoyed it!

this would apply to me. I'm a single 27 year old black female that works full time at the post office. I only make around 46,000. I check the area median income and I'm well below the percentage. Plus my parents never had the credit and never could afford to buy a house. My mom still rents and my dad passed away years ago.

@iBringDaLULZ

3 жыл бұрын

Damn, that's tough. If this passes, I hope you're able to snag your first home 👍

@radiantkratos5562

3 жыл бұрын

You had me at Sesshomaru

@christopheraplin

3 жыл бұрын

Hope this passes. Seems like it could seriously help.

@animalplay7072

3 жыл бұрын

@@christopheraplin yeah

@animalplay7072

3 жыл бұрын

@@radiantkratos5562 lol inuyasha is my fav anime

Doesn't sound fair to those of us that are wanting a home :( just because our parents own their own homes. Some of us got kicked out at exactly 18 and this seems unfair to us. Just my opinion.

@firewolf171

3 жыл бұрын

Thanks for the update though Kyle! Great videos as always!

@ruffprophetproductions

3 жыл бұрын

Listen to what he said at 3:00 one more time

@firewolf171

3 жыл бұрын

@@ruffprophetproductions I'm not denying or disapproving of what he said, I still understand it and support fighting the gap. That doesn't mean I can't have my own opinion whether someone agrees or not. Sadly, I won't qualify but it doesn't mean I'll toss a fit, just stating my own 2 cents, good sir.

@ortegazs

3 жыл бұрын

Kyle said it seems fair but all I see is it limiting which poor people are eligible, which by definition is unfair.

@firewolf171

3 жыл бұрын

@@ortegazs I understand, sadly, I'm one of those that don't qualify. I have no relationship with my parents, and have been on my own since. I still think it's a good option for those that are eligible. I rather this benefit others than noone at all!

What does it matter if there is no inventory? People aren't selling their homes as much and new home builders aren't building as fast because of the back log with lumber. This is so aggravating...

@AlexsMom826

3 жыл бұрын

It's theater from the Democrats. They have no intention of helping anyone but themselves.

@essentialoilsme

3 жыл бұрын

Exactly, grants don’t matter as much when supply is low and demand is high

@charliefabian7345

3 жыл бұрын

My area theres a ton of houses lol

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

@catladytrucker7608

3 жыл бұрын

There's plenty of houses in certain markets. Depends on where you're looking/willing to move to.

Solid breakdown! To be honest, it's probably better to limit who gets this grant. Otherwise, it would just inflate prices and make it easier for people to overbid.

@DemonTime08

3 жыл бұрын

You have to limit because greedy people will use it as a tool so I like the restrictions just should make it a little more specific because not everyone that has a home is balling out of control

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

Thank you for keeping it simple and on point from Fontana Ca✌🏾

@jjordane13

3 жыл бұрын

Same here 🙏🙏

@jerryt4053

3 жыл бұрын

@@jjordane13 🙏🙏

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Kyle with the news! I searched and no one else has a video on this yet. Thank you!

@WinTheHouseYouLove

3 жыл бұрын

Haha I'm super early to this!

@anajosephaj

3 жыл бұрын

You should check out Shaheedah Hill channel also

@JerrellSimpson

3 жыл бұрын

kzread.info/dash/bejne/l2SDvMGDoLCTY9o.html

Getting some comments about what's "fair"... I understand this program is not what you initially expected it to be. HOWEVER, this program's intent is to serve a historically underserved population. After decades of documented governmental discrimination and redlining, a program that attempts to make reparations for the homeownership wealth gap the government created sounds fair to me. The wealth building aspect of real estate largely comes from multi-generational homeownership (i.e. wealth from homeownership passed down through generations). Large groups of people have been forced out of multi-generational homeownership through widespread historical discriminatory lending. Reducing the homeownership wealth gap benefits everyone. Racist, elitist, and repulsive commenters will be banned.

@darrenwoodard1253

3 жыл бұрын

It is fascinating how some are against leveling the playing field for fellow Americans with storied (used purposefully) discrimination acted upon them for generations. When in reality, adding wealth to more strata of America ‘s citizens makes the country stronger in the long run. This will be dope if successful.

@christopheraplin

3 жыл бұрын

The world isn't fair and the only way to have any sort of fundamental equality is to create imbalances in the opposite direction until we one day reach that equilibrium. But remember, no matter how unfair this policy may seem, if you don't qualify for it, you, generically speaking, have been on the plus side of the beam balance.

@VState60

3 жыл бұрын

@@christopheraplin No, the best way to fix it is to teach your children that you are forever a victim of events they were not alive for.

@VState60

3 жыл бұрын

@@darrenwoodard1253 No matter their race, do you truly believe helping folks who do not have the minimum amount of funds to buy a home (they do not qualify) isn’t going to end up in a much greater chance of foreclosures? Do you remember 2008?

@bobturner4072

3 жыл бұрын

Taking some people's money by force and giving it to other's based on the attributes neither could control is never fair nor morally justified. give it whatever label you want. Such plots have always had consequences hurting everyone including those claiming to protect.

Just a gentle reminder to all you lovelies, as Kyle stated in a previous comment: “This is NOT a free house, its a grant. You still have to qualify for the home”!!! Everyone please take a deep breath! We know this can become an argument about ‘fairness’ however this is not about whats fair, rather what should have NEVER been an issue to begin with- Discrimination & Redlining in the Real Estate market. This is NOT a handout but an OPPORTUNITY. Preparation precedes an opportunity, therefore if one individual is not prepared ( ie financially, credit, etc..) they will not benefit from this amazing opportunity. Speaking in regards to the qualified population according to the grant. DO NOT BE DISCOURAGED!! If you cant qualify for whatever the reasons, YOU are on the right track! Keep saving, work on your credit, be patient and when the opportunity to own your home presents itself you will be ready regardless of this grant!! We all have different opinions and political affiliations, one thing remains true we can CHOOSE to agree to disagree and show love and respect to ALL humans in the process. 💕👍🏽

@AlexsMom826

3 жыл бұрын

This is very discouraging to me as one who has been on track and struggling to buy a home for years. The market is so inflated right now there I no hope and with the interest rates low inventory low for the foreseeable future and now 25k to help keep those prices rising I am losing hope.

@DemonTime08

3 жыл бұрын

@@AlexsMom826 definitely a double edge sword but if your credit is right and you have like 20k saved up yourself then I mean I don't see why you'd be rejected and add this grant on top I'd use the grant for down payment and all expenses then have my 20k as a safety net

@DemonTime08

3 жыл бұрын

@@AlexsMom826 Main problem in this country is the wage gap not the fact that you can't get a home and they haven't fixed that so we'll see

@WinTheHouseYouLove

3 жыл бұрын

Thank you Angelica :)

Kyle you're number 1 in bringing this information out first. Thank you for all you do 😊

@WinTheHouseYouLove

3 жыл бұрын

Glad to help

Thanks for the update!

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Thank you for your service...I appreciate the information...

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

just make sure you can actually maintain the home and be ahead of total bills and payments folks

@danieljones2435

3 жыл бұрын

Ever hear of airbnb. Or used youtube to learn basic skills? Good! Glad we had that talk...

@chris10858

3 жыл бұрын

For many folks, their mortgage and other expenses could cost less than what many are forced to pay as renters.

@danieljones2435

3 жыл бұрын

@@chris10858 Truth. All you have to do is make sure your dad never owned a house.

@BlkOnyx0508

3 жыл бұрын

Over 60% of Americans don't even have 2 months worth savings. Stop gaslighting

@WinTheHouseYouLove

3 жыл бұрын

Good reminder :)

I clicked on this so fast! Thanks for the update

@WinTheHouseYouLove

3 жыл бұрын

Sure thing! Thank you so much for watching!! :)

Thanks for the update

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Thanks Kyle! Great one! Hope all is well..

@WinTheHouseYouLove

3 жыл бұрын

Thanks!

I know the comments are probably a sh*t show so I’m not gonna read them and get myself worked up but if this passes it would be a huge step in the right direction for this country and I don’t even qualify! Thank you for speaking about this potential program.

@traceybell9167

3 жыл бұрын

Right! I can be sad I don’t qualify and also be really excited for people who do because this could change the trajectory of a family for generations!

@WinTheHouseYouLove

3 жыл бұрын

Haha they're interesting to say the least. Thanks for watching!

Kyle you have such a soothing voice! I love listening to your videos!

@WinTheHouseYouLove

3 жыл бұрын

Thank you!

Thank you so much for the information! Your videos are always helpful!

@WinTheHouseYouLove

3 жыл бұрын

Thanks!!

Well i am one of those lucky few so this would be very nice! Looking forward to hear updates thank you!

@WinTheHouseYouLove

3 жыл бұрын

Awesome!!

@adrianaramirez1816

3 жыл бұрын

@@WinTheHouseYouLove my dad is paying of his house he will finish paying his house in about 3-5 years , can I be disqualified because of him .

@jessicah3782

3 жыл бұрын

Adriana Ramirez There’s plenty of alternative programs for first time home buyers so sure you would be disqualified from this one but there are plenty of other housing grants. Your local Realtor, housing authority, or even housing non-profit should be able to help you

Thanks for sharing! 😁

@WinTheHouseYouLove

3 жыл бұрын

Thanks for watching!

Please keep us updated

@WinTheHouseYouLove

3 жыл бұрын

Will do

Thank you Buddy👍

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

You help me purchase a home ...thank you we close in a few weeks I wonder of this program would still apply to us some way..maybe get the credit at the end of the year

@WinTheHouseYouLove

3 жыл бұрын

Thanks! It's unclear if it will work that way

Kyle’s out here doing the Lord’s work night and day! My regards to your wife! (Javi ofc)

@WinTheHouseYouLove

3 жыл бұрын

I should go to bed... it's 2am right now in Ohio LOL

@fabiola925

3 жыл бұрын

This cracked me up! 😂😂😂

@chris10858

3 жыл бұрын

I'm waiting patiently for those two to start an onlyfans page.

@fabiola925

3 жыл бұрын

@@chris10858 If Javier sees this 😂😂😂😂😂

Please keep us posted and news on this, we’re really interested

@WinTheHouseYouLove

3 жыл бұрын

Will do!

Thanks bro 😎

@WinTheHouseYouLove

3 жыл бұрын

Thanks for watching!

Nice can’t wait to apply

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Just found your channel, you are quite informative. What state are you in?

@WinTheHouseYouLove

3 жыл бұрын

I'm in Ohio

After watching this. And seeing your video about conventional loans and how I qualify for it , this might be my year to buy a house ! Almost 2+ years with good credit. And I can afford rent with just myself and take care of my lady. But we’ll see when the time comes

@WinTheHouseYouLove

3 жыл бұрын

Great! Thank you so much for watching!! :)

Been listening to you for a while since me and the wife are getting our first home soon. This is honestly fantastic news. I wouldn’t quality for this buts that’s fine, it’s a step in the right direction towards change.

@WinTheHouseYouLove

3 жыл бұрын

Congrats on the soon to be new home!

Do we as buyers apply for the grant or does our lender for us?

@WinTheHouseYouLove

3 жыл бұрын

It's unclear at the moment

Great video Thanks

@WinTheHouseYouLove

3 жыл бұрын

Glad you enjoyed it

We just received our official approval! 😍😍😍 I couldn’t be more relieved 😌

@WinTheHouseYouLove

2 жыл бұрын

Amazing! I'm happy for you!

This is really up my alley...let’s go! Let’s quickly vote on it.

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

We don’t really need more people, but just saying in FL, $20,000 could put 10-20% down on some condos and houses that are actually livable. I was floored when I realized I didn’t qualify but, if I’m honest, I don’t need it. A program like this mixed with increased personal finance education would fix so much in this country.

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

This is a real weird starting point for a Bill. It will be interesting to see how it pans out.

@WinTheHouseYouLove

3 жыл бұрын

For sure

If I get a USDA loan with 0% down, can i still qualify for this to help with closing? thanks

@WinTheHouseYouLove

3 жыл бұрын

Yes

Been renting for 22 years and I still can't get it together. 😪

@WinTheHouseYouLove

3 жыл бұрын

It's all just steps forward!

Keep a close eye on and ask for the rates on the loans these grants are paired with up front. I tried doing something similar and I wasted months of my time just to find out the interest rates were double, the max price of a house was 150k and I had to buy in specific neighborhoods. Wish someone would have told me that from the start. Ended up with a traditional loan instead after saving a little longer. Even if this does pass it will probably become yet another failed program that banks will use to screw over well-intentioned people.

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your opinion

@AlexsMom826

3 жыл бұрын

No doubt.

I can appreciate how this will help people who otherwise wouldn't be able to buy a home, but this is a terribly divisive proposal. If this passes, then every single conservative who's been yelling "the Democrats want to give away our money to illegal immigrants!" will have Exhibit A right here. This will disadvantage people like me - middle-class children of first-generation immigrant parents, parents who slaved away at multiple jobs to get their first home and *still* are stuck making mortgage payments - from getting homes of our own because the market is already in a crazy state of high demand and not as high supply. I imagine there's *plenty* of people like that. I'm all for helping the disenfranchised, but not if it means disenfranchising others in the process.

@WinTheHouseYouLove

3 жыл бұрын

I understand where you're coming from. And this is a topic that could be discussed at length. However, one thing to consider: your parent's hard work and, more practically, the equity in their home will be passed on to a new generation (likely you). Many people are not in that situation. This program is exploring a longer time-horizon than just the next few years.

@iBringDaLULZ

3 жыл бұрын

@@WinTheHouseYouLove Thanks for the reply! I forgot to take into account the passed-on equity and that's a huge thing for sure.

@michellem3879

3 жыл бұрын

@@WinTheHouseYouLove but that not always the case. My mother had 100% equity in her home when she developed Parkinsons’s and after downsizing and then going into AL, we sold her house to cover this costs. Hopefully her money will last but may not and me and my siblings will inherit nothing. Not all lower middle class kids inherit the way the middle/upper middle class does. Nor are we given financial help when we reach adulthood- for me it was sink or swim and it’s been years of struggle and fighting for what I’ve earned to keep a roof over mine and my children’s heads.

@Me-im6py

3 жыл бұрын

@@michellem3879 But literally the financial literacy and understanding of even owning and refinancing a home is a privilege in this situation. There are new homebuyers who literally have no one in their life to rely on to even know howw to qualify for a home.

@michellem3879

3 жыл бұрын

@@Me-im6py then maybe the answer is more education and less hand out/up. Just giving some people the grant is not going to really help them if they don’t understand what they’re getting into. And a 30 minute online homebuyer ed video done as a requirement to get the loan doesn’t cut it. Others who are taking the time to educate themselves and working to save, probably won’t even qualify if/when this is finally released. And btw, I didn’t have anyone to rely on either. My mother judged versus teaching. Maybe it would have been different if my father had lived, but it is what it is and I’ll continue to educate myself as much as possible with the understanding it’s all on me and seeking assistance, even for home buying, is always going to be a waste of my time.

So I'm confused about the first generation thing. How will they know My? My mom and step dad never owned a home as far as I know but my father has but I never lived with him in this home...would that count? That just sounds so confusing. What if parents are no longer around and you have no clue if they owned or bought. I mean as kids you don't always know these things.

@WinTheHouseYouLove

3 жыл бұрын

I am unsure

Yes please keep us posted we are first time buyers. We are searching for a home right now. Let’s us please how this work.

@WinTheHouseYouLove

3 жыл бұрын

Will do!

Man this is still a problem even if you arent first gen home buyer. My dad only recently purchased a home but its now gone to his ex wife. Lol i reaped no benefit. I hope thats not as simple as that. Ill follow along and keep tabs.

@DemonTime08

3 жыл бұрын

Never get married people change all the time no matter what they say and marriage is a joke anyway if we in love we in love

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

This is Amazing

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Nice information. So if I already buy house now and the bill pass in the next two months am I still eligible for that?

@WinTheHouseYouLove

3 жыл бұрын

It's not clear if it will work retroactively

@eagle_eyess

3 жыл бұрын

Thanks @@WinTheHouseYouLove

When is the program comes? We are seeing the new house we need to know the exact time or date?

@WinTheHouseYouLove

3 жыл бұрын

It's unknown, it's just a draft

Do you think even after purchasing a home in 2021 and qualifying, would we still get a tax credit as well?

@WinTheHouseYouLove

3 жыл бұрын

At the moment it's unclear and unlikely

Hi Kyle, I watched your videos on the BoA grant and Biden's new grant. I know the BoA grant requires you to live in the home for 1 year but do you know if Biden's grant will have a minimum requirement as well? I was also wondering if you had any info about someone being able to qualify and use both grants? The way I'm looking at is is; if Biden's grant passes and someone qualifies for it they could do something like this: Use Biden's grant to buy there first home then live in it for the required time (if any) but also qualify for the BoA grant. They could use it to buy another property live in this new place for a year while renting out the other property to family, friends, or a regular tenant. After that required year they would then decide which house to live in as a primary and use the other as a rental. With the information you have does this seem possible? Thanks in advance!! Also people please don't chew me out, I'm just trying to figure out the most effect way to use every possible resource at my disposal to build wealth for my family and future generations.

@WinTheHouseYouLove

3 жыл бұрын

Yep, look at the last page of the draft at the bottom

Also important to note that if you purchase in a high cost of living area the income limit increases to 180% of area median income

@WinTheHouseYouLove

3 жыл бұрын

Thanks for the addition :)

My parents haven't owned a home for most of my life. My dad owned one for like a year when I was 2 years old and never again since. I'm 23...I feel like that would be a little unfair if I didn't qualify just because of that, they've both (my mother and father) essentially have never owned homes

@chris10858

3 жыл бұрын

I totally agree. Even if your parents owned a home, it doesn't mean that would somehow translate into helping you to buy your home.

@danielmack7894

3 жыл бұрын

I 100% agree, it's literally excluding those who were most effected by redlining. Black people who owned homes and wanted to buy in certain areas were turned away, but now here's $2,500, but you can't use it if your mom/dad was subject to redlining, were they supposed to wait for something like this to come along? It's bs.

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

@danielmack5776

3 жыл бұрын

I’m replying because I see another Daniel Mack here... cheers to you my compadre!

@JasMonay

3 жыл бұрын

Agreed!

My parents never owned a home but my husband’s parents did. Would I be able to buy on my own?

@ahmadandaleeb1781

3 жыл бұрын

Same here.

@WinTheHouseYouLove

3 жыл бұрын

It's unclear at the moment

Do you need to have money set aside in order to qualify as well?

@WinTheHouseYouLove

3 жыл бұрын

If $25k covers all your costs, you likely won't

Would your siblings owning a home and your parents living with them affect qualifications for this program? Also would it be combinable with other programs like the bank of America homebuyers credit?

@WinTheHouseYouLove

3 жыл бұрын

Full details → kzread.info/dash/bejne/mYpt1JWTmZTLebQ.html

What is my wife parents never bought a home and we apply together ?

@WinTheHouseYouLove

3 жыл бұрын

As long as you follow the requirements in the video

One thing we have to remember that in this market a lot of sellers will frown on buyers who need to go through these programs as it can add time to closing. In a competitive market it’s easier to just go with a conventional or cash buyer not needing these programs as part of their closing,

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

Closed a week ago. First home...is there anything for me? Do I get funds back when I file taxes next year? Or should I do a addendum or and add it?

@WinTheHouseYouLove

3 жыл бұрын

It's unclear

@twelv

3 жыл бұрын

@@WinTheHouseYouLove true ...yeah I have noticed its unclear. Hey, if u agree ...i am on the right track lol 💃 thanks dear ... I will hold my patience and see what I can do later ❤ . enjoy the day

This program is amazing. There are so many people in the comments saying this program is not a good idea because people will end up loosing their homes don’t understand the home buying process. You still have to get pre-qualified by a lender, which factors in credit, income and debt to income ratio. I have a good job and am considered middle class but I have no familial support system and never have had any financial support besides myself. I live in California, one if not the most expensive state to live, and I’m not willing to uproot myself from all I’ve ever known. The only thing that has kept me out of the homeownership market is the down payment. I’m well qualified in every other way and would be able to maintain a mortgage. In expensive states like mine a mortgage is often cheaper than market rent and gives people an opportunity to build equity. This program is exactly what Millennials like myself (and others) need to get past the greatest obstacle to achieving the American dream. I’m so excited!

@raenewnham7490

3 жыл бұрын

Exactly! People whose parents own homes likely have money available to them to use for a downpayment. My partner and I are looking at buying in the next year and his parents offered us $30,000 to help with downpayment and closing costs. This program is for people who do not have that luxury

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective :)

Will i be eligie if ive bought 2 homes cash in the past but i never lived in or homesteaded them

@WinTheHouseYouLove

3 жыл бұрын

You are not a first time buyer

Ayy my dad bought a townhouse last year does this mean I ain't qualifying no more? :(

@WinTheHouseYouLove

3 жыл бұрын

According to the draft, that's correct

I'll put in into the universe that a lot of 1st generation are qualified and take this blessing and make good with it.......some have to stop thinking small and others have to get out of their comfort box.....and start making positive movements for the future generation.....

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

I need it now

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

Dude, you offer such great content. Didn’t even know this was coming. Keep up the great work! Sharing your content with others.

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

I totally qualify and am looking for a house!!

@WinTheHouseYouLove

3 жыл бұрын

Great!

Thanks for this update. I looked at the full details you linked and I saw that the income limit is up to 180% of AMI for high cost areas such as the DC area. I realize this doesn’t apply to most of the country which is probably why you didn’t mention it, but I thought I might be on the cusp so I was glad to find that out. Hopefully this passes and becomes a reality!

@WinTheHouseYouLove

3 жыл бұрын

I was debating including it since I wanted to keep the video short, but probably should have added that in :)

So as it stands now, if your parents own their home, but you have never owned a home, you don't qualify?

@WinTheHouseYouLove

3 жыл бұрын

Based on the way it is currently, that's correct.

@MissPrissKY

3 жыл бұрын

How do they prove your parents don't own a home? Do they do a genealogy background check and dna sample? Just curious 😜

@WinTheHouseYouLove

3 жыл бұрын

@@MissPrissKY I have no clue haha

@AlexsMom826

3 жыл бұрын

No but your kids do!

When is this available? 😮

@WinTheHouseYouLove

3 жыл бұрын

It's unclear

Hello, I am buying (hope to be) a house this year. I am a first-time home buyer, but my mother will be a co-buyer, does this mean because she has a house and going to be selling it that I do not qualify?

@WinTheHouseYouLove

3 жыл бұрын

If she has owned a home, you would not qualify according to the draft

Thanks for the video. How do we apply?

@WinTheHouseYouLove

3 жыл бұрын

It's a draft at the moment

I’m all for this program (I meet a couple requirements myself) but given the current situation with the market, do you think this could lead to another bubble burst?

@VState60

3 жыл бұрын

Of course it would. Putting buyers, no matter their protected class, into a 30 year loan they do not qualify for is asking for it. Only way this could be arguably worthwhile is that those who qualify (again based on race, etc) must meet income limits & have a 720+ FICO. This should not be to help someone who already has a history of not being financially responsible AND hasn’t saved enough cash to close. But, virtue-signaling is king!

@ruffprophetproductions

3 жыл бұрын

@@VState60 yea I was thinking the same thing. Unfortunately it’s by design that a lot of people don’t know a lot about these complicated financial situations , but when we hear about “free money” we run blindly into the light without reading fine print. I think maybe they could limit the amount you get based upon your FICO on a sliding scale I.e 25k for 720+, 10k for 680+, and so on... who knows. Hopefully I can get my house before this passes though 😭

@itsGabrielaCristina

3 жыл бұрын

@@VState60 getting downpayment assistance doesn’t mean that they don’t qualify for the loan. For example, I have great credit, stable job and the paycheck to pay a mortgage. However, I’m waiting to buy a house until I save enough for furniture and maintenance, not only downpayment and closing costs. If I were to get this grant, it would just help with one of those things and I could use my saved money for the rest. Sometime it just speeds up the process so people don’t have to wait long until they’ve saved thousands of dollars.

@WinTheHouseYouLove

3 жыл бұрын

I don't think enough people would qualify as it currently stands to put that much pressure on the market. I could be wrong

i wonder if you can stack this grant with another grant like the bank of america down payment grant or their closing grant. I dont mean taking money home at the closing table though, more like buying down your interest etc..

@vivicas1247

3 жыл бұрын

Interesting

@WinTheHouseYouLove

3 жыл бұрын

I think it would be possible

How will it work? Is that something that you gotta pay back at certain point?

@samiamor3955

3 жыл бұрын

No. Grant. Grants do not get paid back nor are they taxable.

@WinTheHouseYouLove

3 жыл бұрын

Home buyers receiving assistance under this act would be required to pay back all assistance they received if they stop occupying their home less than a year after purchase. The amount the home buyer would be required to pay back would decrease 20 percent for each year they live in the home, and there would be no penalty after five years. The penalty would be waived should the home buyer sell the home and realize a gain on the sale less than the amount they are required to repay.

@camacdav000

3 жыл бұрын

@@WinTheHouseYouLove thank you 🙏🏽

My mother just purchased Lot/Land 6 months ago to try and build a home in the future, does that apply for me as first generation since it's not a living property? Thank you!

@WinTheHouseYouLove

3 жыл бұрын

I don't believe land counts, so it should work

@sethmisaelhernandez5902

3 жыл бұрын

@@WinTheHouseYouLove That'd be great news!!!

Homeownership, as defined by these government guidelines, is it based on who appears on the title or the loan? I ask because my dad’s house was financed by my step mom but both of them are on the title.

@AlexsMom826

3 жыл бұрын

If he's on the title he owns the home.

@WinTheHouseYouLove

3 жыл бұрын

It will be who is on the title

Will this be able to work with a conventional loan and also when can we expect this to be played set and stone?

@WinTheHouseYouLove

3 жыл бұрын

It should work with any loan and unsure on timeline

This isn't just "giving to black ppl or illegal immigrants" as someone stated. It's all ppl there are many POC & none who's parents may have owned a home some time in the past. Doesn't mean they theyre getting the house. So this means they(children) wouldn't qualify ? That's ridiculous if they have been at any point also discriminated against. Either due to race, color, income levels etc....(we know there are many)then they should also qualify for something this big. This would help many who are/were in lower income brackets to own their 1st home. Yes they'd have to be able to cover costs & living expenses. But this would be a huge start to lesson the wealth gap for huge # of people. Jmo

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective :)

Amazing

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

It seems to me that parameters appear to be too complex for the government to manage in a way that actually works. For example, it seems like it would be difficult for the government to monitor who someone’s “parents” are. Are “parents” just biologically related or do “step” parents count, too? Does a biological parent count if they walked out with zero relationship and bought a house later (even if the “child” doesn’t know the parent, the government “knows” they are related from birth certificate and tax records, which also show the “parent” owning a home)? What about step-parents? The articles that I have read say “neither” parent, which implies two. Some people have four “parents” or even more if “parents” have multiple divorces and remarriages. So, if a person grew up in a house owned by their biological parent’s 3rd spouse (but not the bio parent), but then they got divorced and the “parent” now lives in a rental with 4th spouse, does that person qualify as “parents” never owning a home? Also, “first time home buyer” means not having owned a home in the last three years. Does a parents “never” owning a home mean just the last three years or never, ever, ever, ever in their whole lives? So a person who owned a home four years ago and sold it at a nice profit qualifies because their parents have always rented an apartment in a big city, but a person who grew up in a shack on land owned by their parents who kicked them out at 18 does not qualify because their “parents” still own that “home”... that system seems unnecessarily complicated and unworkable. The number of pages of rules and regulations for this program would need to be staggering!

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

I’m about to start the pre approval process for a FHA loan for a new construction home, should I wait till this bill is passed? Or am I able to implement it later on ?

@WinTheHouseYouLove

3 жыл бұрын

Personally, I wouldn't wait

@carlsonramos2756

3 жыл бұрын

@@WinTheHouseYouLove thanks 🙏

I am In the process of buying a home, should I wait for this to pass???

@WinTheHouseYouLove

3 жыл бұрын

I wouldn't

Great job on the vod/topic Kyle!! 👏🏽 Here’s a cupcake! 🧁 You deserve it after all the wild comments! 💕

@WinTheHouseYouLove

3 жыл бұрын

Thank you!!!

What happens if you are a joint borrower on a refinance only and sold the house ? Are you still considered 1rst time buyer?

@WinTheHouseYouLove

3 жыл бұрын

Technical definition of a first time buyer is someone who has not been on title to a home in the past 3 years.

Is the area median income doubled for married couples? Hard to think that with the limit for my area that any couple would even be able to qualify for a home loan due to income.

@MithosDagon

3 жыл бұрын

This...my wife and I looking to buy a home and the only thing we might qualify for this the down payment “loan”, where they give you a 2nd mortgage loan. After looking at our budget for the future and past 2 years, I have no idea how anyone at AMI would be able to afford a home...Houses are selling for like $10-70K above asking price.

@WinTheHouseYouLove

3 жыл бұрын

I believe it only counts who is on the loan/purchase

Do you happen to have a podcast?

@WinTheHouseYouLove

3 жыл бұрын

Yep! You can search Win The House You Love on any platform

I have a question. Bank of America offer a 10 k for first time home buyer and 7,500 for closing cost if y are qualified for their program. Is that different from this 25 k from the government. Can I get both? I am just curious. Thank you! I am looking forward for your responses

@WinTheHouseYouLove

3 жыл бұрын

Yes they are different and yes you should be able to get both IF this draft becomes a real thing

@senhuynh3607

3 жыл бұрын

@@WinTheHouseYouLove let us know when this happens. Thank you so much for your information. Enjoy your day!

Lets hope!

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

This act - defines “socially disadvantaged individuals” as “those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.” Also this act - Black, Hispanic, Asian American, Native American, or any combination thereof will be presumed to need more handouts instead of a level playing field. Apparently, the arbitrary use of race to make assumptions about how much help someone needs isn't racist...............

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

So let me get this straight. If my mother our father has owned a home, that disqualifies me? Am I understand that correctly?

@WinTheHouseYouLove

3 жыл бұрын

According to the draft, yes

Omg I can't imagine home prices getting HIGHER in California 😭 I guess I need to buy asap before this passes

@WinTheHouseYouLove

3 жыл бұрын

Cali is crazy!

@jessicah3782

3 жыл бұрын

Do you need a Realtor in CA? There’s plenty of grants here that you might qualify for simply being a first time home buyer in the SF Bay Area

@DemonTime08

3 жыл бұрын

Leave that awful place

@mmeganzee3

3 жыл бұрын

@@DemonTime08 it'd be too hard to move away from all my family :/

@DemonTime08

3 жыл бұрын

@@mmeganzee3 cali is terrible man can't even live out there

Can someone that has cosigned for someone else qualify? For example my husband helped my parents buy a home for some personal reasons we haven't bought a home and both of his parents have never owned a home.

@WinTheHouseYouLove

3 жыл бұрын

I doubt it

I absolutely love the fact you keep your audience well informed and very important to know about these importance of how to go about purchasing a home.

@WinTheHouseYouLove

3 жыл бұрын

Thank you so much for watching!! :)

If my parents purchased a mobile home will this disqualify me for the grant?

@WinTheHouseYouLove

3 жыл бұрын

That detail is unclear at the moment

Ok you got me , so it’s not really here! Good thumbnail title.

@WinTheHouseYouLove

3 жыл бұрын

It's here though. The draft has been presented.

My husband and would be first generation to own a home when and if we buy. Please keep us updated on this program. Greatly appreciate it! Thank you so much!

@WinTheHouseYouLove

3 жыл бұрын

Will do!

This is very interesting!! I’m so curious to see how it’s going to play out... I feel like the first generation homebuyer requirement should be changed a bit... or maybe have different payment levels. For example if you meet all requirements you get the 25k, if you meet one, you qualify to get 10k. I feel like there’s a lot of families where just because their parents were able to own homes, doesn’t mean they themselves have the financial means to purchase a home. They could definitely benefit from some sort of tax credit. Even if it’s as low as 5k. But that’s just my opinion, I will totally respect and understand whatever is decided!

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

@weddinggirl7214

3 жыл бұрын

Agree with you 1000%. I feel that one is kind of a wild card wait whoa where'd that come from type requirement.

So if I buy a house by the end of the month I miss out on this grant 🤦🏿‍♀️🤦🏿‍♀️

@WinTheHouseYouLove

3 жыл бұрын

It hasn't passed yet

Honestly, the hard work of your parents to get into a house in no way shape or form should keep you from getting assistance on your first home. Think about how much divide that will leads to. The very least they should do is offer the $15,000 to people who’s parents have owned homes. It sounds like the made the original plan during happy hour. You’re effectively pricing out the middle class during a housing affordability crisis.

@WinTheHouseYouLove

3 жыл бұрын

Thank you for sharing your perspective

@Joel-zo6yo

3 жыл бұрын

My parents never owned a home and I make over $150k a year and would not qualify under this program. The fact your parents did not own a home is not the only qualifying factor. My hard work disqualifies me.