Conventional Mortgage Loan



kris krohn here with limitless wealth TV and today we are doing more advanced vocabulary we're talking about conventional mortgages like is everything a mortgage conventional is conventional a certain type of mortgage like why do I hear this phrase is it important do I need to know what it is that's all coming your way right now alright my friends welcome back kris krohn here and today we're talking about advanced real estate vocabulary as you get going deeper down the rabbit hole you're gonna come across terms like conventional mortgage I'm gonna say Chris what's a conventional mortgage like is it like an FHA loan or a VA loan or a USDA loan that is government backed and a conventional loan is not it doesn't meet the limits of Freddie and Fannie that they have set but there's no government involved and usually it means a 20% down payment and the reason why is to basically skip out on mortgage insurance once you've got 20% of a house paid down you no longer need to pay mortgage insurance which will low your payment's generally a couple hundred dollars more a month depending on how much your insurance is and so the conventional mortgage is probably one of the most standard investment tools that you're going to use in acquiring a property you're not gonna really use government products FHA VA those are for homes that you're buying for who those are homes you're buying for yourself conventional mortgage you can use these mortgages to buy your own properties but you're often using them in investment lending and what they're done is it's not secured by the government it's secured by private banks it's secured by other people's money it's secured by basically non government firms that are out there writing mortgages and trading paper and doing all those different things so conventional mortgage is what you're largely gonna be dealing with I'm in the game of real estate when I need a mortgage I'm putting someone's 20% down generally on the line they're gonna get the mortgage what kind of mortgage is it it's a conventional mortgage so friends this is just standard conversation piece when it comes to the type of investment lending mortgage programs that you're using when you're buying property every video makes me stronger stronger are you getting stronger are you getting smarter we've filling up your head the real estate between your two years with all sorts of yummy yummy yummy listen if you want to take that to a whole new level come get live with me and Stephen Miller at one of my events they're always life-changing hit the website up here and make sure that you check the link in the description below where you can figure out how you and I can actually go out and start doing some real estate together I mean I seriously I've worked with thousands of people why not you maybe this is your time to rise and shine maybe this is your time to learn how to do real estate with no money and no credit if it is subscribe ring that bell and head over to the website so that we can plank

6 Comments

  • Joey :3

    March 27, 2019

    Can't stop watching its addictive 👌

    Reply
  • sam bar

    March 27, 2019

    Hi Kris .. . can you please make videos about foreclosures?

    Reply
  • Brandon P West

    March 27, 2019

    For anyone looking for a conventional loan to buy a house. Normally they require 5% down payment if you plan to occupy the house. Normally they need 20% down if investment loan. However in florida there was a loan called HOME READY for people who have high credit 720+ and its only 3% down. just wanted to throw this out there. The only requirement is to live their 12 months then you could move out and turn into a rental.

    Reply
  • Hyden 35

    March 27, 2019

    I learnt 2 new thing from this ,, mortgage insurance & FHA loans not for investing purposes. Great job .. thanks

    Reply
  • Robbert BOOS

    March 27, 2019

    Hello Kris ! I have a problem.
    I am living in Romania Brasov and a house here at the price of 100K whit 25 % down paymant have a morgage of 1400 $ and you can rent it whit maximum 800$

    Reply
  • Nishant Gupta

    March 27, 2019

    i live in india and my legal system allows me to borrow from banks in us and buy invstmnt property in us as well..So can i take ur "partner profits" programme??..if yes then who will maintain the houses and stuff?? REALLY CURIOUS !!!!

    Reply

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