Episode 32: Home Buying Part 2: Home Loan Types with Kyle Seagraves
This conversation with Kyle Seagraves gets into the nitty-gritty of the different types of home loans available, what credit scores are required to qualify, and debunks some common myths. Topics covered include conventional loans, mortgage insurance and PMI, FHA loans, VA loans for veterans, USDA loans for rural areas, jumbo loans and loan limits, bank statement loans and down payment assistance, and how to find the right loan officer.
Key Takeaways
Different loan programs (conventional, FHA, VA, USDA, jumbo) come with different requirements and are suited to different situations.
Mortgage insurance (PMI) applies under certain loan types and down payment thresholds.
Bank statement loans and down payment assistance programs exist for buyers who don't fit a conventional profile.
Finding the right loan officer is worth the extra time it takes.
Guest Bio:
Kyle Seagraves is a Certified Mortgage Advisor, Licensed Loan Originator, and full-time home loan educator. He is the founder of Win The House You Love, a YouTube channel with over 100,000 subscribers dedicated to helping people understand the home buying process.
Connect with Kyle:
Purchase Price Calculator: https://www.winthehouseyoulove.com/max-purchase-price-calculator
LoanClarity Advisor: https://www.winthehouseyoulove.com/advisor
On YouTube: https://www.youtube.com/c/WinTheHouseYouLove
Online: https://www.winthehouseyoulove.com/
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DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.
Music credit: Neon Fairies by Wolves
Note: This episode is from our previous podcast, Confident Money.
