This video is a complete guide to buying a home using a Conventional mortgage. This will help if your a seasoned home buyer or a first time home buyer!

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---Additional Resources:---

--Free Credit Report: www.annualcreditreport.com/
--Amortization Calculator:
www.bankrate.com/calculators/mortgages/amortizatio…

The video is broken down into 5 Major Sections

We talk about the 4 types of mortgages.
Conventional
FHA
VA
Rural Development

1.I go through the available terms 10, 15, 20 and 30 year terms
2.We talk about only having to put a 3% down payment and how much it will cost in closing costs to do so. I do this by breaking down closing costs and pre-paid taxes and insurance because these can be 3%-6% of the home price totaling thousands of dollars!
3. Credit and income requirements. I cover what type of credit score you will need and what income documents you will need to provide.
4. I explain what a Debit to Income ratio is, and how lenders calculate it and how you should calculate it differently!
5.Money Saving Tips. I give 3 tips on how to save money on your closing and how to pay off your mortgage early so that you can save thousands in interest over the life of you loan.

0:00- Opening
0:20- Intro
1:16- Conventional VS FHA
2:42-Terms Available
4:07-Down Payment Requirements
6:05- Costs
7:51- Types of Homes you can Buy
8:56- Credit Requirements
10:40- Income Requirements
13:47- Debt to Income Ratio Explained
16:21- Tip #1
17:29- Tip #2
19:25- Tip #3
21:15- Like and Sub