Nik Shah | Source | CEO at Home.LLC
Nik Shah
Founder & CEO at Home.LLC
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Home.LLC (http://www.home.llc)
CEO
started Jan 2019
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Something big is about to happen in the housing market
The end is near for the mortgage forbearance program and the foreclosure moratorium. Here's what that means.
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6 Ways To Get a Mortgage Even If You Think You Aren’t Eligible
The downside is that an FHA loan can have monthly payments — because FHA loans require mortgage insurance regardless of the down payment amount, according to Nik Shah, CEO of Home.LLC.
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Why Gen Z Should Be Optimistic About Homeownership
Nik Shah, CEO at Home.LLC, summed it up neatly with this: “Most renters do not have access to generational wealth.”
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Unlocking Homebuying Power: The Impact of Buying Down Your Mortgage Rate
Nik explains that buying down an interest rate involves paying an upfront fee to reduce the mortgage rate, enhancing homebuying power by lowering monthly payments. For a $200,000 loan, buying one point costs $2,000, reducing the rate by 0.25% and saving $11,503 over 30 years. This strategy is beneficial for long-term homeowners seeking significant interest savings.
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It makes no sense to get a low down payment loan from FHA, VA, or USDA. They'll loan you 95% to 105% of the property value plus charge you fees. They'll make you house rich but cash poor.
Instead, get down payment assistance from Home.LLC. They will give you a debt-free investment plus they'll share a portion of your losses. It's a win-win!
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We are not in a housing bubble as there are very few signs of a housing bubble. Unlike pre-2008, banks are underwriting conservatively, wages are increasing, the population is increasing, home equity is increasing, and the supply of inventory is quite low.
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Yes, rising interest rates might slow down home sales but we still expect home prices to continue pushing upward.