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Downpayment Grants are available, Brad explains how · Bought Borrowed and Sold

• 0:00
  Speaker 1: All right, Hello, hello, and good morning to you. Brad Smith.
• 0:05
  Speaker 1: What's up, dude, man, How are you good? You're in
• 0:08
  Speaker 1: the studio hanging out. Yeah, And I'll tell you what.
• 0:11
  Speaker 1: I'm glad we didn't have to deal with the ice
• 0:13
  Speaker 1: capades last weekend.
• 0:16
  Speaker 2: Everything worked out perfectly.
• 0:19
  Speaker 1: I hate it for a lot of our friends up
• 0:21
  Speaker 1: in Tennessee.
• 0:21
  Speaker 2: Yeah, and even in northwest Alabama.
• 0:24
  Speaker 1: Yeah, it looks like it was a man, what a mess.
• 0:26
  Speaker 1: I saw it, like even some like north Mississippi dealing
• 0:30
  Speaker 1: with a lot of issues.
• 0:31
  Speaker 2: And I've got a buddy that flew out to Dallas
• 0:34
  Speaker 2: yesterday or this past Wednesday, and there was still ice
• 0:38
  Speaker 2: on the ground in Dallas.
• 0:39
  Speaker 1: And Dallas Yeah, how many times it's like Dallas gets snow.
• 0:42
  Speaker 1: That's just Is that really even a thing?
• 0:45
  Speaker 2: Well, yeah, I don't know. I wouldn't think much. But again,
• 0:48
  Speaker 2: it kind of goes back to what you were saying,
• 0:49
  Speaker 2: like in the northern part of Mississippi and some other spots,
• 0:51
  Speaker 2: like he landed the Shay and started sending pictures of
• 0:54
  Speaker 2: ice still on the ground and different stuff. So, I mean,
• 0:56
  Speaker 2: it got it was on a lot of folks. It
• 0:58
  Speaker 2: definitely cool things off around here. Luckily we didn't get
• 1:03
  Speaker 2: you know, the rain we got a Saturday Sunday didn't
• 1:06
  Speaker 2: make it too bad. Once we got real low tempts
• 1:08
  Speaker 2: on Monday and then worn back up. So yeah, I
• 1:11
  Speaker 2: think I think everyone, I think, you know, for for
• 1:13
  Speaker 2: our for our general area. I feel like besides a
• 1:16
  Speaker 2: lot of school getting canceled over the last Monday kind
• 1:18
  Speaker 2: of throws a wrinkle in some people. Brother than that. Yeah,
• 1:21
  Speaker 2: it's pretty good. Pretty came up pretty clean.
• 1:23
  Speaker 1: We had, you know, one of my concerns over the
• 1:26
  Speaker 1: past week was how was this weather going to impact
• 1:30
  Speaker 1: the real estate market? And you know, we had we
• 1:34
  Speaker 1: ended up having you know, a couple of open houses
• 1:36
  Speaker 1: last week, and and and I do think it did
• 1:41
  Speaker 1: impact because it was so stinking cold was last Sunday
• 1:45
  Speaker 1: afternoon and rainy. Yeah, I mean it just was nasty.
• 1:47
  Speaker 1: So I do think it it impacted for sure, uh
• 1:52
  Speaker 1: the open houses and so uh you know, but it's
• 1:56
  Speaker 1: gonna be cold again. You know, it's like already cold again,
• 1:59
  Speaker 1: So like is it going to impact us this afternoon?
• 2:02
  Speaker 1: So hopefully not?
• 2:04
  Speaker 2: Yeah, something, Yeah.
• 2:06
  Speaker 1: You might need ice skates, who knows well?
• 2:09
  Speaker 2: And I mean, you know, I know Birmingham Birmingham still
• 2:11
  Speaker 2: watches a lot of sports. You had you had to,
• 2:13
  Speaker 2: you had to the championship games for the NFL last
• 2:16
  Speaker 2: Sunday and we have no NFL today, so that that
• 2:19
  Speaker 2: should help get some people out too.
• 2:21
  Speaker 1: Well, you know, so I was thinking that and then
• 2:23
  Speaker 1: you know, Laura who's our closing coordinator, she messaged me
• 2:27
  Speaker 1: and we put seven homes under contract over the past week.
• 2:30
  Speaker 1: So I got to give some shout outs. Kyle Bedgoods,
• 2:34
  Speaker 1: Ashley Stags, t J Cunningham all had two homes under contract,
• 2:40
  Speaker 1: and then Tim Lance had a home under contract, so
• 2:43
  Speaker 1: that was nice. And so it's it's you know, for
• 2:48
  Speaker 1: those folks look hey.
• 2:50
  Speaker 2: Oh well, I mean that means people are still looking. Oh,
• 2:52
  Speaker 2: there's no doubt. Again. I was more responding to the
• 2:54
  Speaker 2: open house turnout, like it's yeah, the phone's been ringing, ringing,
• 2:58
  Speaker 2: that's good. And so that's always I'm excited about.
• 3:01
  Speaker 1: What we're going to see, you know, and in the spring,
• 3:05
  Speaker 1: and you know, a lot of what we've talked about
• 3:07
  Speaker 1: over the last I don't know three months has been
• 3:09
  Speaker 1: you know, the call before the storm, and and so
• 3:14
  Speaker 1: you know, I still think that way, you know, once
• 3:16
  Speaker 1: we get into march. I mean you got to you
• 3:18
  Speaker 1: gotta fix your mic over there.
• 3:19
  Speaker 2: I thought we were good and started sinking on me,
• 3:21
  Speaker 2: And so I'm going to keep putting it back up
• 3:23
  Speaker 2: high and work.
• 3:23
  Speaker 1: Our way down here. Just just screw it over there.
• 3:26
  Speaker 2: Who did what to begin with?
• 3:27
  Speaker 1: There's no telling.
• 3:28
  Speaker 2: Well, I'm good for now. We'll get we'll work through
• 3:30
  Speaker 2: it and figured out during the breaka.
• 3:32
  Speaker 1: So just yeah, we had now completely lost my train
• 3:37
  Speaker 1: of thought. But it's all good.
• 3:39
  Speaker 2: The mic. Oh hey, it's like dropping my chair with it.
• 3:41
  Speaker 1: Oh, this is what I was gonna say. Hey, in
• 3:43
  Speaker 1: our next in our next session, in our next segment,
• 3:47
  Speaker 1: we're going to talk about grants, yes, like what it's
• 3:50
  Speaker 1: like to you know, uh, whether it's a first time
• 3:52
  Speaker 1: home buyer grant or other grants that are available. We're
• 3:55
  Speaker 1: going to talk about that in our next segment. So
• 3:57
  Speaker 1: y'all make sure and stay tuned because Brad has access
• 4:00
  Speaker 1: to some grants in the mortgage world Bradsmith Loans dot Com,
• 4:04
  Speaker 1: cross Country Mortgage and uh, we're just.
• 4:07
  Speaker 2: Gonna we're gonna kind of break down like the differences
• 4:09
  Speaker 2: and what all is out there to help people to
• 4:12
  Speaker 2: buy a home. And you know, we do we mix
• 4:15
  Speaker 2: in a lot of terminology sometimes on the layman terms,
• 4:17
  Speaker 2: and then the mortgage world has its very specific terms.
• 4:19
  Speaker 2: So we're gonna kind of talk about what some of
• 4:21
  Speaker 2: those differences are between a grant, down payment, assistance, piggybacks,
• 4:25
  Speaker 2: and everything else, and kind of what all our options
• 4:27
  Speaker 2: and what those differences are of what you might need
• 4:29
  Speaker 2: or might be applied to you.
• 4:30
  Speaker 1: Well, well, let's start rocking and rolling. We get let's
• 4:33
  Speaker 1: let's get the game going.
• 4:34
  Speaker 2: Yeah, let's do it all right, Uh, Gussy's got I
• 4:37
  Speaker 2: think five properties today. We're gonna play within the game.
• 4:41
  Speaker 2: He's gonna go through the property the address, give you
• 4:43
  Speaker 2: all the cool key details of the property, and then
• 4:46
  Speaker 2: he's gonna give us the very end the list price
• 4:48
  Speaker 2: of that property. I will then give a potential down
• 4:50
  Speaker 2: payment that a borrower may make on that house, and
• 4:52
  Speaker 2: then John Mounts and Gusty Gillis will guess their best
• 4:56
  Speaker 2: efforts at the thirty year fixed principal and interest only
• 4:59
  Speaker 2: monthly payment.
• 5:01
  Speaker 1: All right, there we go. Ready for the first one.
• 5:03
  Speaker 1: Let's do it. Hey Bluff Park. We love Bluff Park,
• 5:07
  Speaker 1: buff in the Hoover area. We've got open this afternoon
• 5:12
  Speaker 1: from two to four new listing, seven to one, four
• 5:14
  Speaker 1: Cecil Court. This was built in nineteen seventy two. It
• 5:19
  Speaker 1: is a three bedroom, two and a half bath, fifteen
• 5:24
  Speaker 1: hundred and eighty five square feet. It's on a large
• 5:28
  Speaker 1: half acre plus lot. I mean this thing is it's
• 5:32
  Speaker 1: a huge, light, fantastic lot. It's got a covered porch
• 5:36
  Speaker 1: in the back. And I'll tell you what it's one
• 5:40
  Speaker 1: you definitely want to check out. We're asking three hundred
• 5:43
  Speaker 1: and forty nine done, so, three hundred and fifty thousand
• 5:46
  Speaker 1: for seven to one four Cecil Court. Go see Jonathan
• 5:49
  Speaker 1: Weaver this afternoon from two to four. Jonathan, congratulations on
• 5:53
  Speaker 1: your new listing.
• 5:55
  Speaker 2: Congrats all right, three forty nine, twenty five percent down,
• 6:01
  Speaker 2: twenty five.
• 6:02
  Speaker 1: Coming out strong, coming out strong.
• 6:05
  Speaker 2: I knew you'd like that one.
• 6:06
  Speaker 1: Wow. Wow Wow. Okay, we don't really do twenty five
• 6:16
  Speaker 1: percent down a.
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  Speaker 2: Lot, so well there was a reason.
• 6:19
  Speaker 1: Okay, let's go with the mmmm, let's go with fifteen hundred,
• 6:31
  Speaker 1: fifteen hundred for Gusty. It feels a little high to me.
• 6:36
  Speaker 1: So I was gonna say, I was gonna say, like thirteen,
• 6:43
  Speaker 1: I'll go fourteen. It was fifteen ninety four. Somebody should
• 6:47
  Speaker 1: have gone sixteen.
• 6:50
  Speaker 3: I guess it won't be a repeat for me this week.
• 6:53
  Speaker 3: You're looking like it.
• 6:54
  Speaker 2: Well, you started down two last week I think, and
• 6:56
  Speaker 2: then mate went on a run. I thought, so.
• 6:58
  Speaker 3: Maybe i'll do happen again.
• 6:59
  Speaker 2: Yeah, we got potential here, all.
• 7:00
  Speaker 1: Right, our next new listing of the week, and it's
• 7:03
  Speaker 1: also open this afternoon from two to four. It is
• 7:06
  Speaker 1: located in the Starret area in Bear Creek Ridge, one
• 7:11
  Speaker 1: twelve Autumn View Drive. This was built in two thousand
• 7:14
  Speaker 1: and two. It's a split four year full brick, four bedrooms,
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  Speaker 1: three baths, nineteen hundred and sixty five square feet on
• 7:22
  Speaker 1: the main eight hundred and forty four square feet finished
• 7:25
  Speaker 1: in the Basement's got a two car garage. This house
• 7:29
  Speaker 1: looks just fantastics in the Chelsea School district and you
• 7:33
  Speaker 1: want to go check it out. Go see Walker Gant Walker,
• 7:36
  Speaker 1: congratulations on your new listing. Three hundred and seventy five
• 7:40
  Speaker 1: thousand dollars.
• 7:42
  Speaker 2: Three seventy five. All right, we're going to go to
• 7:45
  Speaker 2: five percent down, five percent down for mister Mounts.
• 7:49
  Speaker 3: I see what you did there, so that way, Yeah,
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  Speaker 3: I couldn't just give the exame number we have for
• 7:53
  Speaker 3: the last one.
• 7:54
  Speaker 2: So this one's gonna be more?
• 7:56
  Speaker 1: How much more?
• 7:58
  Speaker 3: Gonna say? Nineteen hundred docs?
• 8:01
  Speaker 1: Okay, all right, remind me what it does again?
• 8:05
  Speaker 2: Three seventy five five percent down.
• 8:16
  Speaker 1: I'm gonna go with the No, that's not it. That's
• 8:24
  Speaker 1: not it. Uh okay, all right, I'm gonna go with
• 8:41
  Speaker 1: twenty What did what did John say?
• 8:44
  Speaker 2: Nineteen hundred?
• 8:45
  Speaker 1: I know that's low. I'm thinking twenty one hundred.
• 8:48
  Speaker 2: Yeah, twenty one sixty four was the actual payment. So
• 8:50
  Speaker 2: get around tho.
• 8:51
  Speaker 1: Right, all right, our next to you listening the week.
• 9:00
  Speaker 1: We're not gonna we're not gonna play a game on
• 9:02
  Speaker 1: this one. But I can tell you my phone has
• 9:04
  Speaker 1: been blowing up on this house. Uh four thirty two
• 9:07
  Speaker 1: thirteenth Avenue, Northwest. This is perfect for an investor. Four bedrooms,
• 9:11
  Speaker 1: one bath, thirteen and forty six square feet asking twenty
• 9:15
  Speaker 1: nine to nine. This home is to be completely renovated.
• 9:19
  Speaker 1: I've not actually been on the inside of the house.
• 9:22
  Speaker 1: Oh wow, the outside is actually boarded up and my
• 9:24
  Speaker 1: phone has been blown up? Can I get in? Can
• 9:26
  Speaker 1: I get in? I was like, not until it's under contract? Okay, yeah,
• 9:30
  Speaker 1: so I have filled it. I don't know how many calls.
• 9:32
  Speaker 1: I have filled it. I don't know how many offers.
• 9:35
  Speaker 1: Right now we are at above asking price, no contingencies. So, uh,
• 9:41
  Speaker 1: if you're an investor, I think you should call two
• 9:43
  Speaker 1: five five four two nineteen ninety six and we can
• 9:45
  Speaker 1: hook you up with some of these deals like this.
• 9:47
  Speaker 1: But yeah, so let's I just want to chat about
• 9:51
  Speaker 1: that one real quick. Let's go to the next one
• 9:54
  Speaker 1: new listing, nine oh one forty seventh Street North. Uh,
• 9:58
  Speaker 1: this is over in the Woodlawn area, two bedrooms, one bath,
• 10:03
  Speaker 1: six hundred and ninety eight square feet. We're asking one
• 10:05
  Speaker 1: hundred thousand dollars for the home and a couple of
• 10:09
  Speaker 1: things about this roof is only three years old and
• 10:12
  Speaker 1: the furnace is only it looks like four years old.
• 10:15
  Speaker 1: So this listening is courtesy of Tony Mick Daniels. Tony,
• 10:19
  Speaker 1: congratulations on your new listing.
• 10:22
  Speaker 2: So one hundred thousand, we're gonna go with a three
• 10:25
  Speaker 2: percent down, three percent down, back to Gusty. I'm not
• 10:31
  Speaker 2: helping you out with the down payment on this one.
• 10:33
  Speaker 1: Oh fine, you're fine, You're fine. I'm gonna go with
• 10:40
  Speaker 1: the six hundred and eleven dollars six eleven.
• 10:47
  Speaker 3: Like these round numbers. We're financing ninety seven, so I
• 10:54
  Speaker 3: guess he's probably about right. I'm gonna say six hundred,
• 10:58
  Speaker 3: even the.
• 10:59
  Speaker 2: Actual payment was five eighty nine. John gets it.
• 11:02
  Speaker 4: Ah cut him right off at the knees, and I
• 11:05
  Speaker 4: love it. I told you how to go with it though.
• 11:08
  Speaker 4: When they're in in this range, this is where that's
• 11:10
  Speaker 4: where I excel.
• 11:11
  Speaker 1: Man man, golly all right. Next new listing of the
• 11:15
  Speaker 1: week is in Moody in the Windsor Park neighborhood. Built
• 11:18
  Speaker 1: in nineteen ninety eight, this is a three bedroom, two
• 11:21
  Speaker 1: bath garden home fourteen and ninety four square feet. It's
• 11:24
  Speaker 1: got two car garage HVA sis. Hvac is seven years old,
• 11:30
  Speaker 1: so is the roof. The hot water is about five
• 11:32
  Speaker 1: years old, and they've recently had a fresh exterior paint
• 11:37
  Speaker 1: and a new garage door just a couple of months ago.
• 11:41
  Speaker 1: This listening is courtesy of Carla Diliberto. So, Carla, congratulations
• 11:45
  Speaker 1: on your new listing. Ten to fifteen Windsor Parkway, two
• 11:48
  Speaker 1: hundred and thirty thousand dollars two thirty.
• 11:51
  Speaker 2: We're gonna put five percent down. We're gonna put five percent.
• 11:55
  Speaker 4: WHOA, hello, sorry, I'm sorry that's they're very close together.
• 12:03
  Speaker 2: To thirty five percent down, John, you get to go first.
• 12:08
  Speaker 3: Okay, I'm gonna.
• 12:08
  Speaker 2: Say, mm, thirteen fifty thirteen fifty from John, all right,
• 12:25
  Speaker 2: how much? Don five percent down on two thirty And
• 12:29
  Speaker 2: John said, what thirteen fifty? Now I'm thinking that's low, but.
• 12:35
  Speaker 1: M I will say fourteen hundred.
• 12:45
  Speaker 2: John sold it good. Thirteen twenty seven made him go over.
• 12:49
  Speaker 2: It's two to two going into the fifth, our fifth
• 12:52
  Speaker 2: and final property for that was.
• 12:53
  Speaker 3: Not that was not. That was on a poker face there.
• 12:56
  Speaker 3: I really was thinking of sold it.
• 12:58
  Speaker 1: The last new listing of the we think it's now
• 13:01
  Speaker 1: he's in the Waterford. He's the son of a gun.
• 13:06
  Speaker 1: The last new listing of the week is in the
• 13:08
  Speaker 1: Waterford neighborhood. This is the neighborhood as you're going up
• 13:11
  Speaker 1: from like Homewood up into Bluff Park. Eight thirteen Castle
• 13:15
  Speaker 1: Maine Drive. This was built in two thousand and two,
• 13:18
  Speaker 1: three bedrooms, two and a half baths, nineteen hundred and
• 13:21
  Speaker 1: thirty two square feet. We're asking three hundred and fifty
• 13:24
  Speaker 1: five thousand for this. This has a two car garage,
• 13:27
  Speaker 1: it's moved in ready and just a super convenient location
• 13:33
  Speaker 1: in the Oxmoor Valley area, and this listing is courtesy
• 13:35
  Speaker 1: of Graham Reesburg. So, Graham, congratulations on your new listing.
• 13:39
  Speaker 2: Three fifty five, ten percent down, ten percent down. Back
• 13:45
  Speaker 2: to Gusty. This is the rubber match. It's two to two, okay,
• 13:50
  Speaker 2: ten percent down. Pressure is on eighteen eighty eighteen eighty.
• 14:04
  Speaker 3: I was seriously going to put eighteen hundred. I was
• 14:06
  Speaker 3: gonna write it on you a paper so you wouldn't
• 14:07
  Speaker 3: know that I was copying, but I was. I was
• 14:09
  Speaker 3: gonna say, eighteen hundred.
• 14:10
  Speaker 1: I'm gonna well, I mean that's a that's a good
• 14:12
  Speaker 1: ways away, you know.
• 14:14
  Speaker 2: Yeah, that's not really prices, right, Yeah, I mean in
• 14:16
  Speaker 2: this game, it's got.
• 14:18
  Speaker 1: Like eighteen eighty one. I've been like, dude, but.
• 14:19
  Speaker 2: If you're both dialed in too, I mean you both know, Hey,
• 14:22
  Speaker 2: that's about right. But here's the good news. The paint
• 14:26
  Speaker 2: was actually nineteen forty one, so Gusty gets it. Everybody
• 14:29
  Speaker 2: was low. Gusty wins this week. Three to two.
• 14:34
  Speaker 1: Let's go.
• 14:35
  Speaker 2: Eighteen eighty was enough.
• 14:38
  Speaker 1: Hey, we've got we've got some coming soons. We've got
• 14:41
  Speaker 1: a home coming up in Warrior, another home coming up
• 14:44
  Speaker 1: in the Staret area. We've got one coming up in Pelham,
• 14:47
  Speaker 1: and we've also got really excited about this. It's a
• 14:52
  Speaker 1: on thirteen point two acres and Helena, a super cool house,
• 14:56
  Speaker 1: five bedroom house on a on a beautiful pond, and
• 15:00
  Speaker 1: it also has like an old horse barn that can
• 15:02
  Speaker 1: be kind of updated and brought back to life for
• 15:06
  Speaker 1: one and a half million, and I'm just a beautiful
• 15:10
  Speaker 1: piece of land. So that's going to be coming up
• 15:12
  Speaker 1: pretty soon. We do have a couple of VIP by
• 15:15
  Speaker 1: our needs. We've got somebody looking in the Crestwood area
• 15:18
  Speaker 1: up to four hundred. We've got people looking in Homewood
• 15:21
  Speaker 1: pretty much in all price ranges because I've got folks
• 15:23
  Speaker 1: that are looking for renovation projects. I've got folks that
• 15:27
  Speaker 1: want fully renovated homes, so mainly in the Edgewood School district,
• 15:31
  Speaker 1: but that doesn't mean that, you know, we've got people
• 15:34
  Speaker 1: looking in other places. We've also got somebody looking in
• 15:37
  Speaker 1: the Hoover area up to five hundred thousand. So that's
• 15:40
  Speaker 1: just a couple of folks that I wanted to touch base.
• 15:43
  Speaker 1: You can always go if you have a home that
• 15:45
  Speaker 1: you may be considering selling this year. Let's build a
• 15:48
  Speaker 1: plan of action, go to gustigulisgroup dot com or call
• 15:51
  Speaker 1: two of five five four to two nineteen ninety six. Hey,
• 15:54
  Speaker 1: guess what time it is. That's right, it's testimonials time.
• 16:01
  Speaker 1: All right, I meant to hit it. Yeah, all right,
• 16:05
  Speaker 1: I'm just gonna focus on the one today, Okay. Working
• 16:09
  Speaker 1: with Kyle Bedgood was genuine, genuinely one of the best
• 16:12
  Speaker 1: decisions we made during our home buying process. From the
• 16:16
  Speaker 1: very beginning, he was patient, knowledgeable, and incredibly responsive. Every
• 16:20
  Speaker 1: question we had, bigger, small was answered clearly and quickly,
• 16:24
  Speaker 1: which made the entire process feel smooth and stress free.
• 16:27
  Speaker 1: If you're looking for someone who is professional, trustworthy, and
• 16:31
  Speaker 1: truly committed to helping you find the right place, we
• 16:33
  Speaker 1: recommend Kyle one hundred percent. Well, congratulations on your new home.
• 16:39
  Speaker 1: And Kyle, congratulations on.
• 16:41
  Speaker 2: Another five star review.
• 16:46
  Speaker 1: We had more five stars, but I was like, man,
• 16:48
  Speaker 1: we gotta we gotta have this next segment. So y'all
• 16:51
  Speaker 1: stay tuned. We're going to be talking about some of
• 16:53
  Speaker 1: the grant options that Brad has right here on bot
• 16:56
  Speaker 1: Born and Sold. Stay tuned, all right, Welcome back to
• 17:01
  Speaker 1: Bob bart and Sold, and I wanted to focus on
• 17:04
  Speaker 1: this segment, the different grants. You know, as we're coming
• 17:07
  Speaker 1: into you know, our selling season, it's always encouraged to
• 17:12
  Speaker 1: go ahead and get pre qualified for a mortgage and uh,
• 17:16
  Speaker 1: just be prepared with a plan of action as we
• 17:18
  Speaker 1: start the process of buying a home. And you know,
• 17:22
  Speaker 1: I sent Brad a messages like, hey man, let's let's
• 17:24
  Speaker 1: talk about potential grants that are out there down payment
• 17:27
  Speaker 1: assistance program. So take it away, Brad Smith with Cross
• 17:30
  Speaker 1: Country Mortgage Bradsmith Loans dot com.
• 17:32
  Speaker 2: By the way, yeah for sure. And then I mean
• 17:34
  Speaker 2: also if you go to Bradsmith Loans dot com, there's
• 17:37
  Speaker 2: a there's a bun there's a lot more information on
• 17:39
  Speaker 2: there too about the grants DPAs. I mean, you can
• 17:41
  Speaker 2: find a lot of information too. But you know, today
• 17:43
  Speaker 2: the one the main thing you know, we just kind
• 17:46
  Speaker 2: of wanted to talk about was kind of again, I
• 17:48
  Speaker 2: get this a lot from other agents borrowers, and grant
• 17:52
  Speaker 2: is the universal term for helping my down payment or
• 17:56
  Speaker 2: and or closing cost.
• 17:58
  Speaker 1: Gotcha.
• 17:58
  Speaker 2: And so first off, I just really want kind of
• 18:01
  Speaker 2: want to talk about kind of the terms and the
• 18:02
  Speaker 2: different things that are options out there, and how many
• 18:04
  Speaker 2: different things that you can actually qualify for. And the
• 18:07
  Speaker 2: main one that we really do and have the most
• 18:11
  Speaker 2: programs for is the DPA, the down payment assistance, and
• 18:15
  Speaker 2: that's usually like a financial support that helps with the
• 18:18
  Speaker 2: down payment or closing costs, and so it's truly a
• 18:22
  Speaker 2: down payment assistance. A lot of times sometimes those can
• 18:26
  Speaker 2: be forgivable, sometimes they're not forgivable. We have the housing
• 18:29
  Speaker 2: finance authorities, so we use we do a lot with Outbot,
• 18:32
  Speaker 2: my housing finance authority here in Birmingham and locally, but most,
• 18:35
  Speaker 2: if not all states, housing authorities have different stuff. Georgia's
• 18:38
  Speaker 2: got Georgia Dream, so there's all kinds of housing authorities.
• 18:42
  Speaker 2: There's also individual housing authorities. A lot of times in
• 18:44
  Speaker 2: your communities like Birmingham will have it has sometimes has
• 18:47
  Speaker 2: different dpa's or grants and stuff they do from their
• 18:51
  Speaker 2: housing authority. Like Lee County in Auburn ople like it
• 18:55
  Speaker 2: has a really good one. I just use that one
• 18:56
  Speaker 2: as example because it's one that gets used a lot.
• 18:59
  Speaker 2: But you've got to be in those counties and stuff,
• 19:02
  Speaker 2: and then those communities you got affordable seconds so that
• 19:05
  Speaker 2: sometimes what they'll do is your downpaiding assistance is really
• 19:07
  Speaker 2: a second mortgage, But a lot of times you wouldn't
• 19:10
  Speaker 2: be able to get a true second mortgage if you
• 19:11
  Speaker 2: were financing one hundred percent of the loan. So these
• 19:14
  Speaker 2: are structured just for that difference of the down payment.
• 19:17
  Speaker 2: So if three percent was your was what you have
• 19:19
  Speaker 2: to have to put down to buy it to go
• 19:21
  Speaker 2: conventional on a on a purchase, then you may not
• 19:25
  Speaker 2: have that three percent. You can get a second for
• 19:27
  Speaker 2: three percent, But it's all about that assistance. And then
• 19:31
  Speaker 2: the main thing that all these are or will come
• 19:34
  Speaker 2: back to the grants. It's like it's just a true
• 19:36
  Speaker 2: like gift, no repayment necessary, Like if you meet the requirements,
• 19:39
  Speaker 2: we just give it to you and that's it.
• 19:40
  Speaker 1: Do you have to be there for a certain amount
• 19:42
  Speaker 1: of time.
• 19:43
  Speaker 2: Well, some grants are literally just just done, just done,
• 19:47
  Speaker 2: and so you have forgivable seconds. So some of those,
• 19:50
  Speaker 2: like what you'll have sometimes are like we will give
• 19:54
  Speaker 2: you the second to get it done. You've got to
• 19:57
  Speaker 2: be in the house three years or five years. You've
• 20:00
  Speaker 2: been there three or five years, you don't ever have
• 20:02
  Speaker 2: to pay the second back check, you're good, Gosch. And
• 20:05
  Speaker 2: then you've got true seconds that are advertized that they
• 20:07
  Speaker 2: dobut my Housing does that. So if you're doing a
• 20:09
  Speaker 2: thirty year fixed on ninety seven percent of the loan,
• 20:12
  Speaker 2: they're going to give you a second for three percent.
• 20:14
  Speaker 2: It's going to be a ten year loan, and it's
• 20:16
  Speaker 2: amortized with principal and interest on that three percent, so
• 20:18
  Speaker 2: I's still it doesn't make it anything crazy on the payment,
• 20:21
  Speaker 2: but it keeps that second admortizing paying off quickly. So
• 20:25
  Speaker 2: those are the main things, the main contributor for all
• 20:29
  Speaker 2: of that, And I don't get a little winded on
• 20:31
  Speaker 2: just the terms and stuff, but all this kind of
• 20:32
  Speaker 2: feeds into it. So like for almost all of those
• 20:36
  Speaker 2: there to know if you are eligible for some of
• 20:39
  Speaker 2: those programs, whether it's a downpaying asistance or grants, community seconds,
• 20:43
  Speaker 2: all that stuff mainly is what they call the AMI,
• 20:46
  Speaker 2: which is your area's median income. So it's almost all
• 20:50
  Speaker 2: driven by that. And like with OUTBUTM my Housing, it's
• 20:52
  Speaker 2: even tiered. You know, if you're at a certain percentage
• 20:55
  Speaker 2: of the of the area meeting income, then you know
• 20:58
  Speaker 2: you can actually get a better program. If you're under
• 21:01
  Speaker 2: another tier, you're still gonna get a really good program
• 21:04
  Speaker 2: at the rates a little higher. And then if you're
• 21:05
  Speaker 2: over it, you can't get it. And so like it's
• 21:07
  Speaker 2: all income driven based on your area, and you can
• 21:11
  Speaker 2: find those online. But you know a lot of times
• 21:12
  Speaker 2: it's you know, we're looking at eighty percent to fifty
• 21:16
  Speaker 2: to fifty five percent on the different programs, and it's
• 21:19
  Speaker 2: just trying to help people that need to be able
• 21:22
  Speaker 2: to finance a home. You know, if you make a
• 21:24
  Speaker 2: million dollars a year, probably not qualifying from any DPAs
• 21:27
  Speaker 2: or or grants, right, I mean, it's just not going
• 21:31
  Speaker 2: to fit in most models and everything else. So those
• 21:34
  Speaker 2: are the main kind of key terms. Again. Now what
• 21:38
  Speaker 2: we have a little different is we have a couple
• 21:40
  Speaker 2: of DPAs that are we do only so we have
• 21:44
  Speaker 2: a lot of stuff that we'll do in conjunction with
• 21:46
  Speaker 2: other either housing authorities or even other mortgage companies will
• 21:52
  Speaker 2: have I said with mortgage companies, mortgage lenders or banks
• 21:56
  Speaker 2: will have different ways to access funds you have and
• 22:01
  Speaker 2: so but for so across country has one that we
• 22:03
  Speaker 2: call it a smart start. It's a conventional, we can
• 22:07
  Speaker 2: do it in all the states. And going back to
• 22:09
  Speaker 2: that area of meeting income, it's if your airing meeting
• 22:12
  Speaker 2: income is one hundred thousand dollars. Your your annual household
• 22:17
  Speaker 2: income's got to be eighty thousand or less to qualify
• 22:19
  Speaker 2: for it. If it's two hundred thousand or one hundred
• 22:21
  Speaker 2: and fifty, you know, just it's eighty percent of that.
• 22:24
  Speaker 2: So it's just a little bit less on that. But
• 22:26
  Speaker 2: you know what it does is it gives you a
• 22:27
  Speaker 2: down payment assistance for up to four thousand dollars. It
• 22:32
  Speaker 2: is a true grant with no repayment functions. So like
• 22:35
  Speaker 2: if you qualify, you're getting you get the four thousand dollars.
• 22:37
  Speaker 2: It can go towards down payment. It's not a second
• 22:39
  Speaker 2: you don't have to pay it back. It's it's a
• 22:42
  Speaker 2: free four thousand dollars on that, on that down paying assistance.
• 22:46
  Speaker 2: On the one we do now again, you know, Freddie
• 22:50
  Speaker 2: Matck has one that's just called borrow Smart. We do
• 22:52
  Speaker 2: it all the time. It's great. It's tied to the
• 22:55
  Speaker 2: am I. Uh So those are two really good ones.
• 22:58
  Speaker 2: On faha, i'm a Housing has a goodnother good one.
• 23:02
  Speaker 2: There's a there's another program called the Chenoa Fund. Chenoa
• 23:05
  Speaker 2: does a great job with all these, with all of these.
• 23:09
  Speaker 2: Uh it's it's but it's specifically for the FAHA. It's repayable,
• 23:13
  Speaker 2: but it is forgivable. It'll go to one hundred and
• 23:16
  Speaker 2: thirty five percent of the of the AMI. So you
• 23:19
  Speaker 2: can actually make go over the AMI on that one,
• 23:22
  Speaker 2: and you have two options there. It has a three
• 23:25
  Speaker 2: and a half and a five percent DPA on that
• 23:27
  Speaker 2: Shanoah fund. But so so again between so you got options.
• 23:31
  Speaker 2: I mean again, we could just go When you said
• 23:32
  Speaker 2: that was like, well, we can kind of touch surface
• 23:34
  Speaker 2: on it, but like it's got you know, we've got
• 23:35
  Speaker 2: some stuff in house we do. There's national funds we do,
• 23:38
  Speaker 2: there's local and state of finance authorities that we can
• 23:42
  Speaker 2: get to, and it really just brings that many more
• 23:45
  Speaker 2: people into the ability to buy a home when they
• 23:47
  Speaker 2: may be think in their head, you know, I have
• 23:50
  Speaker 2: no chance of mind a house. I mean, it puts
• 23:52
  Speaker 2: a ton of people in the buyer's world that don't
• 23:54
  Speaker 2: think there.
• 23:54
  Speaker 1: Are so somebody can reach out to you and say, hey,
• 23:56
  Speaker 1: I want to buy a house. You're looking at those options?
• 23:59
  Speaker 2: Yeah, we actually we actually scrub it. We actually have
• 24:02
  Speaker 2: a product scrubber that will go in and say, like
• 24:05
  Speaker 2: if I try to put them in one program it'll
• 24:06
  Speaker 2: tell them, hey, you actually qualify for a better program
• 24:09
  Speaker 2: with down paying assistance.
• 24:10
  Speaker 1: Bradsmith Loans dot com. Y'all check it out, See you
• 24:13
  Speaker 1: next time.