Welcome Home with Monique

Kevin Krall 0:00
The content of this program is paid for by Monique Buchanan LLC. The content of this program does not reflect the views or opinions of 91.5 Jazz and more, or the University of Nevada, Las Vegas. You see me?

Unknown Speaker 0:25
Good morning. This is Monique Buchanan, the host of the welcome home with Monique show. And on this show, I talk all things real estate. Listen, I want to thank you for tuning in. Well, happy late Thanksgiving, everybody. It's Saturday. So I think that we're all kind of like rolling around now. Full. I hope you had a great Thanksgiving. I just you know it. I know it's past Thanksgiving, I probably should have done this the previous show. But since I missed it, I'm gonna go ahead and just start off with what I'm thankful for you guys mind if I do that. I'm pretending like I'm hearing now. So anyways, I want to give a shout out or just say that I'm very thankful for my family, of course, my wonderful husband who supports me in all my endeavors. I just love that guy. He's awesome. He's always been so super supportive. Just since I've met him, I was a single mother, he had my back even with my my oldest daughter stepped in helps me with her tremendously, just became the father figure that she needed. And so I'm so thankful for my husband, you guys, I'm very blessed with a wonderful husband, my beautiful children. They're all healthy. I don't take that for granted. And I thank God for that. You guys have heard me say before, or maybe, depending on how long you've been listening. I'm not shy to let you know that I am a follower of Jesus Christ. And He is the one that got me where I'm at today. What do I mean by that? It's my testimony. I used to work in the casinos, which was great. But God called me out of that gave me a promise. And that's why you guys hear me today because God is keeping his promise. He told me he would make me successful in real estate and God has kept his word. And so I'm quick to tell anyone that will listen, hey, if you are taking you know, you've got you God's putting on your heart, to take a leap of faith. And he's he's given you a promise, he's not a man that he should lie, take that leap of faith. If God is calling you out or something or telling you to do something different, you know, it's from him. Here I am sharing my testimony, I'm so thankful that God is good. And that he keeps his word. And I'm able to be on the air today. And tell you guys my testimony because he did keep his word. So that's what I'm thankful for just in a nutshell, not to mention friends. And of course, you guys, my listeners, I'm thankful for all of you. You guys have been a blessing to me. For almost two years now. I mean, sending me your family and friends trusting me to take care of all their real estate needs. It does not go unnoticed. You guys, every last one of you. Thank you so much. There's been so many over these last almost two years now. Can you believe that? And I just want to say take a moment and say thank you. I pray that all of you guys, once again had an amazing, amazing holiday. All right. With that being said, let's go ahead and jump into the show. So I want to talk to you guys about a couple things I've been going on lately with my buyers right now. Got got got quite a few buyers. And you know there are a lot of them are using my grant program, a lot of them are not now. So this applies for either or whether you're coming with your own downpayment, or you're taking advantage of my grant program, then this is either or you guys. So like I've been saying for the last year and a half or so, rates are on the rise. Well, now it's actually happening, okay? The rates have went up last week, the rates went up. And it unfortunately affected a couple of my buyers, their approval amount, because when the rate goes up, your approval amount goes down. What does that mean? Why does that affect you so much as a buyer? Well, for instance, one of my buyers was approved for I believe it was 360 and you know, that's right at a sweet spot where you can still find a decent little house you know, because our average home median price right now in the valley is 400,000 In fact, I think is a little over 400,000 Listen, our market is on the rise. We already know that we know that it's hot. We've watched these numbers go up. Even if you're just looking you know on the websites, you see how our Valley has increased so much and price. It's been great for people that went ahead and took advantage and bought because now they're sitting on equity. They've made money on their properties. Every day I tell you guys please don't miss the boat. If you've been off the are on the fence, get off the fence get off the fence because Now, you know, you go to go ahead and purchase your home and the rates have went up, that's going to lessen how much you're approved for. And that's unfortunately what happened to my clients, you know, they're going to, they're going to see if they can have another family member jump on their loan with them to go ahead and get that bump back up again. But right now, as it stands, they lost, I want to say $30,000. In other words, their approval went from 660 to 630, or 660, I'm sorry, for 360 to 330. Because the rate went up on them, okay, that's going to be the case for a lot of people. And if you want to buy a home, the time is now. But time is now the prices are not stopping you guys. They are going up steadily, steadily. You know, and there it looks like there's no end to this. Now a lot of people always say, Oh, I'm waiting for the crash. Well, the same people that were waiting for the crash can now not afford to buy, you know, the crash never came in. For me. I personally don't think it's going to come because there when you talk about a crash that happened back, you know, in oh eight, that once again, was due to predatory lending, which is not happening right now. Okay, that they put a stop to that. They've simplified the paperwork, where now you know what you're signing, when I take my clients to go sign for their homes. I remember when I was younger, I went with my my father back in oh eight when he had a couple of properties that he bought. And when we went to the signing, I'm telling you guys, the paperwork was probably four Bibles High was ridiculous. We'd sit there for hours signing, he didn't know, he had to and completely out was balling out of the chair by about 45 minutes in, you know, and that would be anybody, your hand starts hurting, you don't even know what you're signing at this point. They got rid of all that. Because they want you to know what you are signing. They have, you know, simplified the entire process of purchasing a home. I'm telling you, it's night and day from what it used to be. So when you hear people talk about how they purchased back in the day, listen, it is not the same, not the same guys. So now when you go in and you sign it literally takes 20 minutes, and the lady explains every single page to you as you sign. Now, why am I talking about this because the crash the crash. That's why there was a crash because people didn't know what they were signing, they didn't know what they're getting themselves into. Okay. And there was a lot of predatory lending. My father, for instance, he worked at the Luxor, my dad opened the Luxor, he made good money, but let me tell you, he didn't make enough money to own three homes. And each one of them, you know, $500,000, he definitely wasn't making that kind of money. But they approved him, and they gave him the homes back then those days are over. I'm telling you, they're so strict nowadays. Even if you get a gift from a family member, they need to source that money, they have got to see even the family members bank account to prove that this was truly coming out of their bank accounts. So there, things have completely changed. That's my that's my point. So you're one of the ones thinking that some big crash is gonna happen. Oh, my goodness, please, please. You know, I? Listen, it's leveling out a bit. But it hasn't even went down that much. But it is leveling out. Do I think that it's going to crash? No, not at all. Please don't be holding on to this crash, dream, and miss your opportunity to become a home owner. Now let's go ahead and just pivot a little bit to my sellers. It's still an amazing time to sell. Yes, it has leveled out a bit. Yes, you're probably not going to have offers of over you know, ridiculous offers where it's $50,000 over what you were asking, which was ridiculous. Anyway, the house has to appraise you know what I mean? And in many cases, they still are paying out of pocket what we call above appraised value. Now is it 50,000 depending, but I've been seeing steel people come out of their pocket 510 $1,000 On average, you know, it depends on the price point, of course. So everything depends on how much you're selling for, you know, and if you know, your your property is at a at a price that a lot of people are approved for. So if you're looking for something, or you're selling your property for under 400,000 Yeah, you probably have multiple offers on your property still today. Now, obviously, if you're gonna go ahead and list your property at like, I don't know, 800,000, then maybe not as much as the person selling for 400,000. That's pretty obvious, right? But the market is still hot. And that property I can still get sold for you. So if you're thinking of listing your property, my phone number is 702-984-3700 My number is 702-984-3700. My name is Monique Buchanan.

Unknown Speaker 9:47
And this is the welcome home with Monique show. My website is welcome home with monique.com Also, you guys can Google me welcome home with Monique and you'll find me there you If you for some reason missed my information, just go ahead and Google welcome home with Monique and I will pop up or you can go on my instagram at real tour. Monique Buchanan buc h a n a n. All right, guys. So once again, if you're thinking of selling your property, great time to sell, let me put it on the market. I'll have a professional photographer, come on over take pictures. In many cases, I also have it staged. So listen, I don't hold back, you'll also have your property mentioned here on the radio, which goes out to the entire valley. So we will get it sold. My team is amazing. And we will get it sold for you top dollar. And um, you know, if you're thinking about upgrading your property, or maybe just downsizing to a single story or something like that, yes, we can take care of that as well get it sold, and go ahead and move you on into the next property. Okay, so for my buyers, I've got one of my preferred lenders, that's going to talk to us all about the grant programs that are still available so that you don't miss this bus. Yep. Okay. All right, guys. So if you've been on the fence, once again, get off the fence. Listen, I've got Shawn Rogers. Shawn, are you there? I'm here. All right. All right. So we're excited to have you. I was just telling my listeners that you have an amazing grant over there. And well, you've got many, but one of the ones I wanted you to kind of touch on is that 6% Grant and kind of just let them know what that entails.

Unknown Speaker 11:37
Of course. So with the 6% grant, we give you essentially a 6.5% of the purchase price as a non repayable grant and lender credit. So essentially, we're going to cover under FHA financing, we're going to cover the three and a half percent down requirements. We'll also cover up to 3% of the purchase price and costs. Now, once again, it's a grant. So that means do not pay it back. Most people take the money used to cover pretty much everything, right? As far as downpayment, and third party non recurring closing costs and prepaids, property taxes, insurance, all that stuff is all covered. And there's usually nothing left for the borrower to pay at the closing table.

Unknown Speaker 12:23
So wait, Shawn, let me just get this right. So you're saying that there's a grant that will take care of every penny, I will when we go to close and I go to sign on my house, my new house, I don't have to ask family members and friends or call my 401k to get any money out? You're saying I'll have zero to come to the table with?

Unknown Speaker 12:45
In most cases, yes. Mostly depending upon the loan amount, because the numbers are based upon a percentage of the loan amount, or purchase price, though, yes, in most cases, it covers everything for us.

Unknown Speaker 12:55
Okay, and so is the purchase price, it just has to be under the FHA guidelines. Is that right? Correct. And what is that purchase price for FHA.

Unknown Speaker 13:06
So for FHA, and I think we're looking at what Clark County we're looking at probably close to a max purchase price of $372,000.

Unknown Speaker 13:15
So I can buy a $372,000 house and pay zero out of my pocket as far as down payment or closing costs. So basically, all I have to have is my money for my appraisal, which is about $500. Is that right? Correct. And I just have to have the three or $400 for the inspection. So about $1,000. So right now, if I'm listening and I have $1,000 in my account, I could possibly be qualified to buy a $372,000 house, then that would be the only money very possibly out of my pocket. Is that what you're saying? Shawn? That's what I'm saying. That's right. That's amazing. What is the credit score needed for this downpayment program?

Unknown Speaker 14:03
So the FICO needed for this one is 620 I'm sorry, did you say 620?

Unknown Speaker 14:10
That right 620 score. So

Unknown Speaker 14:12
that's, that's less than what you need to rent a property right now that my phone's gonna be ringing off the off the hook with people ready to become a home owner, because all they need is a 620 credit score, and they don't have to have any savings. Is that what you're saying?

Unknown Speaker 14:28
That's right, in most cases that usually apply.

Unknown Speaker 14:31
That is phenomenal. I know my phone is going to be ringing left and right. Because if people listening to this, even if they own a home right now they know somebody that this could be a blessing to and for Thanksgiving, they're gonna give them the best gift of all, which is 702-984-3700 That is my phone number if this interests you or you know a family member, or friend, that one To become a homeowner, but hey, COVID hit they weren't able to say very much, but they don't want to miss the opportunity of homeownership. Once again, you guys, Monique Buchanan, Sean Rodgers, he's telling you 702-984-3700 Wow, Sean. So once again, this grant program covers not only your downpayment, but your full closing cost. Correct? Wow. Okay. 620 credit score, that's the only credit score that's needed. I'm taking it you have to have two years on the job?

Unknown Speaker 15:36
Well, not necessarily, depending upon your current job type. So for example, it's just recently switched jobs. That's okay. As long as the income is steady, and we have two years of job history or work history,

Unknown Speaker 15:48
we are okay. Wow, Shawn, I'm sorry, this is blowing my mind because, you know, typically they say has to be the same line of work. But you're telling me that even if they completely changed jobs, it's okay.

Unknown Speaker 16:04
It is okay. As long as I have. In that case, sometimes I can't use most of my Kenyan overtime income, I can use your base income to qualify to use overtime income, I have to be on the job for at least a year, I do not need to use ot overtime income to qualify. All I need is just a recent paycheck stub and maybe an offer letter if possible, showing a full 40 hours per week. And I have to go back to standard two years to get all the employment history. And I can use the current income that they have now.

Unknown Speaker 16:34
That is just mind blowing. Okay, so this is just a total game changer. total game changer. Okay, so now, just to recap, this is a downpayment assistance grant, you do not pay this money back. How many years? Do they have to live in the property and occupy the property? Because it does have to be home? Home Owner Occupied? Is that right? Shawn? Correct. Has to be owner occupied. Right. Okay. So how many years do they have to live in a property before the money is forgiven? is forgiven at closing? What? I'm sorry? Did you say that they they're not required to live in the property for three to five years? Well, they have to live in a property. Yeah. Well, the reason I'm saying that is because all the other grant programs that I'm aware of, you have to live in the property for three years or five years. And then they they forgive the grant but you're telling me at the time of closing when we go to sign that grant that money is forgiven. The full down payment and closing cost is forgiven?

Unknown Speaker 17:39
That's correct. It's forgiven. That is placed on the home unlike other standard state or regional based products, it's placed, you know, three or five year lien on the property with a non repayable clause. Right this situation there's no liens placed on the home and closing.

Unknown Speaker 17:57
I'm about to buy a house with you, Sean. Amazing. Oh, my goodness. So do you have to be a first time homebuyer to purchase our with this grant?

Unknown Speaker 18:10
No, you don't. Not three or four different rules regarding it. But the first one is, you know, you can be a first time homebuyer right, okay, or to work in public service. So it can be a you know, you can be a teacher, you can be a firefighter, firefighter, police officer,

Unknown Speaker 18:32
ambulance service. Okay. And what about the county workers?

Unknown Speaker 18:37
county workers correct long as you kind of civil government type service work for the county worked for the state to the city, right qualify.

Unknown Speaker 18:44
So even if they own a home now, they'll still qualify for this grant. Let's give them an example. So let's say that I am I've got a couple of my listeners right now they work for the county, they work for the city, they work for school district, or whatever that you know, is and they own a house right now, but they want to upgrade and buy another house, can they use this grant? And pay their downpayment? No.

Unknown Speaker 19:08
They definitely can.

Unknown Speaker 19:11
Wow, and they only need a 620 credit score. Correct. And it's going to take care of everything, they will bring nothing more. Of course, we can't guarantee there may be some minute cost, right? But right more than likely, typically, it takes care of the full cost. So they don't have to even like right now I've got you know, clients right now, that are you know, coming to the table with $4,500 with the other grant, you know, a lot of them are coming to the table with like $5,000 You know, which is not bad because if you're going to rent a property, if you're looking right now for a rental, you have to put down first and last and deposit if you're looking at a house that's at least 4000 And in many cases 6000 Depending on how much your rent is. So why I even bother looking for a rental property, when they're requiring a 660 credit score in many cases, for rentals right now, they're requiring three times the rent. But I can, you know, use this grant and only need a 620 credit score, the money that I, you know, would have put down for my rental, I don't even have to use. And now I'm gonna be a home owner and bring nothing. I mean, my goodness, say, don't say that money for Christmas. And have our house for Christmas. You know what I mean? I mean, it just doesn't, I don't, it seems like such a no brainer to me. You can become a home owner. All right. Once again, we're talking about a 6% grant that my team has, this is my team member, Sean, he's going over the requirements. If you're just tuning in, this is Monique Buchanan. This is the welcome home with Monique show, my number is 70298437007029843700 there is absolutely 00 reason for you not to become a home owner. With this information, you guys. Obviously, if you have money saved up, that's great. But this could work for you as well. Because if you have money saved up, and you find your dream home, and you've got competition, you know, this frees up that money you have saved up to you know, get in there and fight and get your house. Because if you have to use your money for your down payment, your closing costs, and now you're left with very little hay, you can take advantage of this grant, and use that money to secure that property that you guys want so badly right now, because there's still competition out there. Right, John?

Unknown Speaker 21:47
There is it's rough out there. It really is.

Unknown Speaker 21:49
Yeah. So you know, it can you know, you can use this grant to secure the property and just save your own money that you've saved up. Or hey, like he said, you only need a 620 credit score. He even said you don't have to be a first time homebuyer, you can be a civil servant. And what does that mean? That means a county worker, city worker, a school, you know, you work for the school district? What is nurses? Are they included? And I would hope so.

Unknown Speaker 22:18
Yep. Health care, health care workers, health care workers are all

Unknown Speaker 22:21
included. So my, my paramedics that they're included? Right? Oh, my goodness, I'm just blown away. I mean, I hope that my I think that my listeners are just their head is spinning like mine. This is a great, great grant. I'm so thankful that you came on and share this information. I know that this phone is going to be blowing up Saturday, you know, and I'm going to be sending a lot of clients your way so you can take care of them. I know you've been in the business for many years. Okay, Shawn, can you tell my listeners a little bit about yourself? Just kind of introduce yourself and give me your history?

Unknown Speaker 22:59
Sure, sure. No problem. Once again, my name is John Rogers have been a mortgage banker for going on 16 years now. So I've been in it that, you know, before the crash during the crash and after. And let me just say this to Modi, just in case. Folks are out there wondering, there is no crash. So I would wait on getting a hold for another $75,000.

Unknown Speaker 23:20
Right. Not going to happen. And why do you say that? There's no crashing? You? Definitely. I would love that. But it's not gonna happen. You guys. We're not getting houses for 150 Even it's done that boat that boat has sailed. Do you agree? Right. Now why do you think that was the crash? I was telling them actually just earlier on the show about the predatory lending that was going on back then.

Unknown Speaker 23:44
Exactly. Yeah. Obviously put lending practices, people doing things that are you know, by today's standards, outrageous. You know, if you had a poll and a job, you got a loan, but now things are heavily underwritten. Can we dig a little deeper? Right? To make sure to calculate doesn't happen again to anybody?

Unknown Speaker 24:01
Absolutely. I told them even if they get a gift now, you know, you guys are very, very strict about where it came from. You've got to prove that it came out of the person's account. Like there's no messing around anymore, you guys. So yeah, so thank you, Shawn. So we're super excited about this 6% grant that's going to take care of not only your down payment, your entire down payment, it's also going to take care of your entire closing cost. What does that leave you guys? Pretty much nothing right, Shawn? That's right. No digging in the savings account. No asking mom and dad Can you loan me some money and I love that you don't have to be a first time homebuyer but but by the way, just so we're clear. first time homebuyer just means that you've been renting for three years. Guess what? You're a first time homebuyer so that I don't care if you bought back in the crash and you know, whatever you you know whatever. As long as you have been renting a house for three years you're considered a first time homebuyer but in this case with this particular grant It's not even needed. If you are a civil worker, City County, medical field, civil worker, you also qualify for the 6% grant that will take care of your entire down, and your entire closing cost. Please, if you know someone that is in need of this grant, my number is 702-984-3700. This is my team member, Sean, we will take care of you, I will represent you on the real estate side, he will represent you on the lending side and get that grant secured and get that house secure. Right. Shawn, do you have any stories for us I love stories tell story.

Unknown Speaker 25:38
I do have a I have a really good one. I got a phone call. This is a probably a couple of months back wasn't too far long ago. And I had a cusp of dealing with one of their local banks. And you know, they were the kind of standard bank that wants you to have a certain amount of money down certain credit score, etc. Right. So they came to me and they had a, you know, a sub 600 below 600 credit score. And I was like, Look, guys, I have money for you. But I need you to be at a circuit score to get money for you. So I gave him a couple of quick tips after 30 days they were at the square need to be at and I was able to give them everything they needed to get into a house. And the end of the day they brought $200 to closing because of some excess interest. But they got into the starter it was a starter home for their family, the nice four bedroom three bath home for their for their family size. And they paid for their appraisal inspection. And at closing, they brought in a couple 100 bucks. That was it.

Unknown Speaker 26:36
Wow. Now you guys. Two days. Did you hear that? You guys, they people bought their four bedroom home and the only money they brought to the table was $200. at closing. This is the real deal. Guys, this is happening. Okay, there's these grant programs. He said, As soon as you close on the house, it's forgiven, you do not pay this money back. And I like another point that you made. Listen, they weren't quite ready. Their credit was not quite quite there. People seem to think that they need to have stellar credit, by the way, which is just not true. That is a myth understanding. It's not true. Like he told you before you only need a 620 credit score. And what did he do? That's what my lenders do they give you a you know, some guidance on how to get there. And I have a credit girl on my team as well. So if you need more than just the, you know, 2030 points, don't worry, we will assist you will get you there. Okay, just do what they say do the work. They'll get you there. These people did the work and they bought their four bedroom home with $200 out of their pocket using this 6% Grant. It doesn't get any better than that, guys, we really have absolutely zero reason not to become a homeowner when it's harder to rent a house right now. So if you're looking for a rental look no further give this a thought 600 credit score for I'm sorry, 606 20 Credit Score needed. That's it. rentals are requiring in many cases. 660 right now. Okay. Two years on the job. He says it doesn't even need to be the same job. Hello, is anybody home because if you're going to rent you're about to put at least $4,000 down to get the rental. Anyways guys, I pray that this has been a blessing. Thank you so much, John, for coming on. We really appreciate this information. I'm going to have you come on again here shortly because this is like an amazing grant. So please, before this grant goes away, come on and consider consider reaching out because it's a five minute conversation. 70298437007029843700 Monique Buchanan at realtor Monique Buchanan where you can always Google welcome home with Monique. Thank you, Shawn.

Unknown Speaker 28:52
Thank you very much. Appreciate your time.

Unknown Speaker 28:54
Yes, sir. All right, guys. Have a blessed weekend and until I hear from you, which I feel like will be very soon. All right, guys. Take care.

Unknown Speaker 29:12
Thank you for listening. This is Monique Buchanan. My license number is S 1788 46 and I am part of EXP Realty Tune in next week.

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