49-Extended Learning Opportunity: A Home Buyers Guide with MKristo Bruce of Guild Mortgage

<p>•  Let's talk a little bit about home buying, because that's why we're here. So as far as the process goes, the number one question I would say I would get is, I don't have 20% down, so I can't buy a home. Have you heard that before? Oh yes, all the time. I think that's the biggest thing. And the cool thing that a lot of people don't know is you just have to have a credit score about a 600 and you if you're above a 620, you can put as little as 0% down. (3:38)</p><p>•  And this down payment assistance program is specific to each state, so our program has specific guidelines, but each state has their own down payment assistance program. They might have little nuances or different things with that, but all the states are going to have a program. So I have connections, if you want to know a loan officer in your area, just reach out to Barbara or myself. Email and we'll be able to get that for you.  (5:30)</p><p>•  That's not a requirement now, to put 20% down, but man, what a blessing to have, you know, a family, that  are able to do that for you, because with 20% down, you don't have multiple insurance, so it's going to help you probably buy a little bit more home. Guys, I think the biggest thing I would point out is the simple fact that we're also going to get that kind of game... I'll tell you my wife, in the first house, we bought... There was a special rule loan... called a USDA loan. It's zero down, but basically in your outskirts outside of the city limits, you're allowed to use this loan in very specific areas. (13:09)</p><p>•  I don't know if you remember your first interest rate, but my first interesting was close to four and a half. In interest rates right now, are at about 3%. So, a huge savings for buying more of a house. At four and a half. my max approval might be 300,000, but at 3%, it might be 400,000. And those of you who are shopping out there, know that a difference between a 300,000  and a 400,000 house is a big disparity. There's going to be a lot of differences there. So that's a great poin