BiggerPockets Real Estate Podcast
880: How to Get a Home Loan as a House Hacker, Investor, or First-Time Homebuyer w/David Mackin
Jan 26, 2024
Real estate investment expert, David Mackin, shares tips on getting a home loan and finding the best real estate investment for beginners. He discusses determining factors for affordability, the importance of the debt-to-income ratio, and factors affecting home loan interest rates. The hosts also emphasize the impact of additional costs on the affordability of investment properties and the benefits of working with other investors.
40:32
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Quick takeaways
- It is crucial to have a clear understanding of factors such as monthly payment, debt-to-income ratios, property taxes, and insurance when determining how much home you can afford for successful real estate investing.
- Finding a knowledgeable and experienced loan officer who understands your goals and can provide guidance and support for future investment endeavors is essential when considering financing options for real estate investments.
Deep dives
Importance of Understanding Financing Options
Understanding the different loan products available and finding the right financing options is crucial for successful real estate investing. It is important to have a clear understanding of how much you can afford, taking into account factors such as monthly payment, debt-to-income ratios, property taxes, and insurance. Having your financing lined up is particularly crucial, as affordability is a key factor in the highly competitive housing market.
