New Our House Price & Mortgage Details | First Time Home Buyers FHA Loan With Low Downpayment



We bought our first home in 2016 with bad credit, debt, and a low down payment with an FHA loan. I’m sharing all the details from our experience as a first time home buyer getting an FHA mortgage for first time home buyers! If this is interesting I can share some first time home buyer tips of things we did well and things I wish we had done!

Hopefully this look at our home buying process gives you a little more insight if you’re a first time home buyer… or gives you a good giggle if you’re a pro who can see all the wrong steps we made!

Let’s get nosy in our money, shall we?

Want to learn how we are paying off our mortgage faster with no pain? I share 2 easy ways we’ve increased our principal payments here: https://youtu.be/BTdozy98Eq4

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WHAT I USE TO BUDGET*

Pens & Paper:

➝ My Budget Printables ➝ http://bit.ly/pnpbudget
➝ Happy Planner ➝ https://amzn.to/2MT0Dbx
➝ Paper Mate InkJoy Gel Pen ➝ https://amzn.to/2DLwFnL
➝ Tombow Dual Brush Pens ➝ https://amzn.to/2PCEjVe

Stickers:

➝ SimplyKamyCo budget stickers ➝ http://tidd.ly/7bd846fa
➝ Caffeinated Cait budget stickers ➝ http://bit.ly/AMLYTCAFFCAIT

Cash envelopes:

➝ KateBudgets Cash Envelopes ➝ http://bit.ly/KateBudgetsCashEnvelopes

Apps:

➝ Capital One ➝ https://capital.one/2JIEqQV
➝ Mint.com

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SAVE MONEY*

➝ Ibotta (Cash back – $ BONUS) ➝ https://ibotta.com/r/vernepp
➝ Rakuten (Cash back – $ BONUS) ➝ https://www.rakuten.com/r/MARYIN155?eeid=28187
➝ Fetch Rewards (Receipt scans, $ BONUS referral code, MV7RR) ➝ https://bit.ly/2G0vEtZ

INVEST & EARN MONEY*

➝ Ellevest** (Investing – $50 BONUS) ➝ http://bit.ly/PenniesEllevest
➝ Robinhood (Investing – Free stock!) ➝ https://penniesnotperfection.com/Robinhood

**I’m proud to be working with Ellevest to help get more money in the hands of more women. If you open an account through my link ➝ http://bit.ly/PenniesEllevest … I’ll earn a commission and Ellevest will give you $50 when you make your first deposit.

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CONTACT ME:

Mary
P.O. Box 240981
Memphis, TN 38124

Website: http://penniesnotperfection.com

Shop: https://shop.penniesnotperfection.com/

Instagram: https://www.instagram.com/penniesnotperfection

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**The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. I am not a professional and this channel is for entertainment purposes only.

*Affiliate links. I get commissions for purchases you make through links shown here. It doesn’t affect your purchase in any way and the commissions help support this channel. I only recommend items I personally use and appreciate the opportunity to share.

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31 comments

  1. Damn 150k for a house? Damn I had 80k saved up. How much your house worth now? Interesting my closing costs were 10k for 435k house. Damn PMI is high. PMI is also based on credit score. My PMI is 40 a month

  2. This is an incredibly helpful video for me! My husband and I are hoping to buy a house or townhouse this year for only a little more than your house was- so the numbers are similar enough to start thinking about. Thank you so much!

  3. Now you look at it we see the sharks circling our money via extra fees! 😔

  4. Whitney Espinoza

    So to clarify what was your total monthly cost with mortgage using this program? I'm a little lost. I keep seeing fha and conventional and I just don't want to be pushed into a situation we can't afford

  5. liquidgoldeyes

    oh! THANK YOU! I had an epiphany this morning and it told me to stop looking for new apartments, get a house!!!! I came on here and your video was posted on my birthday so I definitely feel guided landing here. Been hunting for a long time and the rent here is stupid, like 3 bedrooms rent in a good neighborhood is $2,600. I live in Brooklyn, New York, here I am having lunch, I almost choked at the cost of your house. Here, a sensible sized house is $600k. Even the rent that I am paying in a converted 2 bed GARAGE is $1,850. Thank you for the tips!!!!! Useful as ever!

  6. Yenny Palacios

    do you mind telling us what your credit score was when you purchased?

  7. I’m so glad you actually broke it down and out numbers because that gives people a better idea of what to expect! Thank you so much!!!

  8. nice handwriting

  9. Its really valuable video

  10. Belen Contreras

    This was so educational and makes buying a home approachable for me. Thank you.

  11. omg dontstop

    You did a great job explaining Everything, Also you’re so lucky you bought it four years ago. Look at the prices now in 2021

  12. Jesus my God My Lord

    Thank you for your help When you got your house it was hard for sellers to accept your offer since you have FHA ? We are trying to buy a house but is so disappointing it looks like buy a house with FHA is not attractive for sellers 😣. I wish I can find a house not too expensive but it looks like with FHA we might have better change to buy a new one 😔

  13. Budgeting for Future

    House Buying is so intimidating! We have bought 2 so far (one being a rental property). Thanks for the video!

  14. Mohamed Bangura

    thanks you for been honest it helps

  15. I bought a home 2 months ago in halifax nova scotia.. My first home.
    Seller was asking $43,000 for it, but because there were 10 other people interested in this house we got into a bidding war which I "won" by only a couple hundred dollars. The market is in fire here right now. People are writing letters to sellers and everything to try and get their offer accepted.
    So my offer of $60,000 got accepted and my closing costs were $1500.
    I paid a $10,000 down payment, $2,000 deposit and I have $14,000 in savings . My interest rate is 1.89%. I will have my first home paid off in 5 years and I'm so excited!
    My bachelor apartment was $900 a month. With my mortgage, insurance, power and water I now pay $900 a month for a 3 bedroom home. That i will own in 5 years then I can upgrade to something nicer. I'm pooping my pants I'm so excited.
    Wow.

  16. Tanzina's Recipe

    Very nice vlog thanks for sharing 👌👌❤️

  17. Mildred Curbelo

    Thanks for the breakdown ❤️

  18. left hand story

    Beautiful friend,u do great job,thanks for sharing,love it😍👍👌

  19. Pivotal Media - 7 Figure Strategies

    Awesome thumbnails and video, wish to see more like this! 👍🏻

  20. jose ramos correa

    so was the downpayment 5k something that you put yourself from your own money or was it also help from the firs time home buyers program and u just added some more on top?

  21. Louvenia Taylor

    So if you would have bought a 200,000 home would you have had to put up more money in a down payment and /or closing cost ?

  22. Thank you!!!!!!! It’s crazy how professional can explain it. While you still have the 🤔😫💭 face and thoughts lol I understood that in a matter of 13:55 thank you! I’m excited for my first house toooooo!☺️

  23. Deonta White

    Thank You So Much For THIS VIDEO !!! 😫😫😫

  24. Lilian Aldana

    Very helpful information thank you very much!

  25. So good price !

  26. What state do u live in?

  27. LadySangerNurse JonesLPN

    Congrats on homeownership Me and my husband working towards this

  28. Was that the required amount of your down payment or the price you guys chose to pay?

  29. 158k where do u live ? My slum cost 500k

  30. 0:15 This Is Lit 🔥 🔥🔥

  31. I watched your video while playing a board game and it was so fun☺️😆👍

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