The Real Estate Show

Radio Show Notes 05/07/24 Tuesday:

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There’s a Loan For Everyone! Forget Low Credit! How to Secure Your Perfect Home Loan (Even With Less Than Stellar Scores)

By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.

Welcome to the Real Estate Show – South Florida's #1 Real Estate Radio Show and America's longest running daily radio show about real estate!

My Name is Eric Willner, the Voice of Real Estate and founder of America's longest running daily radio show about real estate and also creator of The Automatic Landlord System for Owning Cash Flowing Real Estate "Profitably and Hassle-Free." It's a virtual real estate seminar in every episode.

Today on the Tuesday Tools, Tips, and Techniques Edition, we're diving deeper into yesterday's topic: There is a Home Loan For Everyone! Remember, success in real estate is all about having the right tools and knowledge at your disposal. So, let's turn theory into action and unpack the practical steps to secure the perfect loan for your needs.

Have you heard of the 72 Hour Challenge? Imagine a challenge where experts analyze your expenses and find ways to save you significant money every month – $400, $800, even over $2,000! These savings can significantly improve your financial picture and empower you on your real estate journey. Text "72" to 561-861-2366 to learn more! But this limited-time challenge ends in just 72 days, so don't delay!

Did you know that according to the National Association of Realtors, a record number of first-time homebuyers entered the market in 2023, many with credit scores below the traditional threshold? This is a testament to the variety of loan options available.

Now, let's break down yesterday's 5 Ways There is a Home Loan For Everyone!:

1. Variety of Loan Types: Conventional, FHA, VA, USDA – each program caters to specific situations, credit scores, and down payment capabilities.
2. Flexible Down Payment Options: From zero down with a VA Loan to lower down payment requirements for FHA loans, there are pathways to homeownership even with limited savings.
3. Government Assistance Programs: FHA and USDA loans offer additional flexibility for qualified borrowers backed by the government.
4. Credit Score Considerations: While a good credit score can unlock the best rates, programs like FHA loans cater to borrowers with lower scores.
5. Creative Financing Solutions: Hard money loans and seller financing can be options for unique situations, although they may come with higher interest rates.

Remember, a Realtor is your partner in real estate. Their expertise and experience can be the difference between a successful and stressful transaction. They can guide you through the loan application process and advocate for you throughout the journey.

Three more questions to ponder:

• Did you know that owning a home can significantly increase your net worth over time? Owning real estate offers a valuable hedge against inflation and builds equity for your future.
• Did you know that homeownership can contribute to a sense of stability and community? Owning your own home fosters a sense of belonging and provides a foundation for building a life.
• Did you know that many renters spend a significant portion of their income on rent, money that could be used to invest in homeownership? Investing in real estate can create a path to financial freedom.

These "Did You Know?" questions highlight the critical role homeownership plays in Americans' lives and the challenges many face due to not owning, poor credit scores, debt burdens, and vulnerabilities.

Understanding Your Fit for a loan:

Now, how do you know which loan is right for you? Let's look at the key factors:

• Credit Score: This is a big one! Generally, a higher score qualifies you for better interest rates and loan terms. We'll discuss strategies for improving your credit score if needed.
• Down Payment: Having a larger down payment can lower your monthly mortgage payment and reduce your private mortgage insurance (PMI). But don't let a smaller down payment discourage you – there are still options! YOUR DOWN PAYMENT is your APPROVAL Program!
• Income and Debt-to-Income Ratio: Lenders want to see you can comfortably afford the monthly mortgage payment. We'll discuss what a healthy debt-to-income ratio looks like and how to calculate yours.

Taking Action: Getting Pre-Approved

Alright, so you've got a better understanding of the loan landscape. Now what? Getting pre-approved is a crucial step! Here's why:

• Know Your Budget: Pre-approval gives you a clear picture of what you can afford, streamlining your home search.
• Stronger Offer: A pre-approval letter shows sellers you're a serious buyer and strengthens your offer.
• Save Time: Pre-approval can speed up the closing process once you find the perfect home.

Wrap Up & Call to Action

We've covered a lot today, but hopefully, you feel more empowered to navigate the home loan landscape. Remember, there are resources available to help you!

Here are 5 key takeaways:

• There's a variety of loan options to fit your specific situation.
• Flexible down payment options are available to help you get started.
• Government assistance programs can offer additional support.
• Credit score considerations don't have to be a barrier.
• Getting pre-approved strengthens your offer and clarifies your budget.

Don't hesitate to reach out to a reputable mortgage lender! They can walk you through your specific situation and help you find the best loan option for you. Today's Show is Brought to You By: TimeToFixMyCredit.com [invalid URL removed]. Text "CREDIT" to 561-861-2366 to learn more about how they can help you improve your credit score and unlock the best loan options.

Bonus Tip: Throughout the show, we sprinkle in success stories from listeners who overcame challenges to secure a home loan. This is to show you that real people, just like you, are achieving their real estate dreams.

Have a specific question about home loans? Text "HOMELOAN" to [Your Show Text Number] and we'll tackle it on a future show!

And don't forget to join us next week for [Topic of Next Show]!

## Sponsor Break

(Take a short break here. This is a good spot for the mid-show sponsor message.)

Today's Show is Brought to You By: TimeToFixMyCredit.com [invalid URL removed]. Having a good credit score is crucial for securing the best loan options and potentially saving you thousands of dollars on interest rates. Don't wait! Visit TimeToFixMyCredit.com [invalid URL removed] to learn more about how they can help you improve your credit score and unlock the best loan options for your real estate goals.

## The 72 Hour Challenge

Earlier, we mentioned the 72 Hour Challenge. This isn't just about saving money, it's about putting more money back in your pocket every single month! These savings can significantly impact your ability to qualify for a home loan.

Here's how The 72 Hour Challenge works:

• Our expense reduction experts will analyze your expenses.
• They'll find ways to save you money on things like cable, internet, phone bills, and more.
• You get the benefits – potentially saving hundreds or even thousands of dollars per month.
• There's a money-back guarantee, so there's no risk involved.

Take The 72 Hour Challenge and turn your expenses into income! Text "72" to 561-861-2366 to learn more. But remember, this challenge ends in just 72 days, so don't delay!

## Owning Real Estate vs. Renting

Let's continue to talk about why NOW is the time to buy real estate. While yesterday we focused on home loans, today let's delve deeper into the financial benefits of ownership.

Many people get stuck in a rent-trap, where their monthly payments line the landlord's pockets instead of building equity for themselves. Owning real estate allows you to:

• Build Equity: Every month, a portion of your mortgage payment goes towards owning your home, increasing your net worth.
• Hedge Against Inflation: Over time, property values tend to appreciate, protecting you from inflation's erosive effects.
• Tax Benefits: Homeowners can deduct certain mortgage interest and property tax expenses on their income taxes.
• Sense of Stability: Owning your own home fosters a sense of security and belonging, providing a foundation for building a life.

## Free Workshops: Paving the Path to Homeownership

We understand that buying a home can seem like a daunting task. That's why we offer free workshops to help guide you through the process.

Here are some of our upcoming workshops:

1. Tuesday 8pm Path To Home Ownership Introduction – Online by Invitation (text "Path")
2. Wednesday night 8:30pm Financial Edge University Overview – Online by Invitation (text "Edge")
3. Thursday night 8:30pm Financial Edge Master Class – Online by Invitation (text "Master")

By attending these workshops, you'll gain valuable insights on:

• The different types of home loans available.
• The down payment options.

Join us tomorrow for our Wednesday Midweek Mortgage and Market Report. We'll be providing the latest updates on mortgage rates, market trends, and insights to help you make informed real estate decisions.

Thank you for joining us on The Real Estate Show! Don't just listen, use our show to get started in real estate investing. Tune in every weekday and remember to attend our free online workshops this week. We'll see you bright and early tomorrow!

Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.

Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.

 Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

 Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow 

 Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

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