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880: How to Get a Home Loan as a House Hacker, Investor, or First-Time Homebuyer w/David Mackin

880: How to Get a Home Loan as a House Hacker, Investor, or First-Time Homebuyer w/David Mackin

FromBiggerPockets Real Estate Podcast


880: How to Get a Home Loan as a House Hacker, Investor, or First-Time Homebuyer w/David Mackin

FromBiggerPockets Real Estate Podcast

ratings:
Length:
41 minutes
Released:
Jan 26, 2024
Format:
Podcast episode

Description

If you want to start investing in real estate, you’ll need to know how to get a mortgage. But with so many home loans available, which is the right one to pick? Do you go FHA or conventional? Do you work with your local bank or call a broker? How much can you even afford? These questions alone might put you into analysis paralysis, so today, we’re breaking down what it takes to get a home loan, how much YOU can qualify for, and the best real estate investment for beginners.

To demystify the home loan process is David Mackin—the third David in today’s episode—mortgage broker, house hacker, and home loan expert. He knows what you need to qualify for a mortgage in 2024 because he qualifies buyers all day long. David shares how YOU can determine how much home you can afford, why you’re getting different mortgage rates from different lenders, and how to find cash flow in your market by reverse engineering your real estate calculations. 

And, if you’re looking for the easiest, lowest cost, and arguably best way to get into real estate in 2024, this episode is for you. We’ll break down why house hacking has become the new norm and why skipping out on it can cost you BIG in your real estate investing journey. 

In This Episode We Cover
The simple calculation to estimate how much home you can afford in 2024
Getting pre-approved for a mortgage and why credit score ISN’T as crucial as you think 
The danger behind getting a low mortgage rate and signs that your lender isn’t experienced 
Debt-to-income (DTI) and two factors that can throw your home loan completely off track
Why house hacking is the BEST way to start investing in real estate (especially with high home prices) 
And So Much More!

Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-880
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Released:
Jan 26, 2024
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.