Johnny Sanphillippo has never made more than $20,000 per year (he works as a housekeeper, as well as, a gardener and house painter), but he knew like “any other American” that he wanted to own his own home.

When he talked to bankers about qualifying for a home loan, “they look at you and their eyes glaze over and you realize, they’re going to give me a lollipop and send me home, which is pretty much what happened”. So he decided that if he went far enough away from his hometown of San Francisco he could find something he could afford to buy with cash.

He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.

Without a loan, he knew he couldn’t afford to build a conventional home. He’d always loved tiny houses, but the permitting office wasn’t as enthusiastic about allowing him to build small. So he had plans drawn up for a conventionally-sized home, plus a 400 square foot garage. He just built the garage.

Once the inspectors signed off on his fully-equipped garage (which included a bathroom, utility sink, electricity, septic system and rainwater capture), he let them know he wasn’t planning on building the house. Then he set about swapping the garage door for sliding glass and the utility sink for a regular kitchen.

Instead of relying on a loan to buy a house up-front, he had to do it the slow way, in stops and starts as he worked to pay off he step of the process. First, he saved up for a foundation, then the shell, then septic, etcetera and today, 13 years later, the home is complete.

Original story & more info: http://faircompanies.com/videos/view/mortgage-free-tiny-home-on-a-housekeepers-salary/

Duration : 0:10:41

(more…)

Technorati Tags: debt, downsizing, green building, hawaii, home payments, home size, house payments, loan-free, mortgage, mortgage-free, San Francisco, simple living, simplicity, small home, small house movement, small space, tiny home, tiny home building permit, tiny house, unemployment

The Video Home Buyer’s guide shows all the steps to buying a home and getting a mortgage in a way that will reduce your stress and save you money. This installment covers the third financial advantage of buying a home, tax benefits. If you are thinking of buying a home, please subscribe to this channel.

Duration : 0:6:49

(more…)

Technorati Tags: Aurora, buying a home, Chicago area, Downers Grove, Dupage county, Elmhurst, FHA loans, FHA mortgages, First time home buyer, first time home buyer loan, first time home buyers guide, Glen Ellyn, home buyer, home buyers guide Chicago, home buying tips, how to buy a home, how to buy a house, How to get a mortgage, Illinois, mortgage, mortgage broker, mortgage rates, Naperville, Pete Thompson, real estate, steps to buying a home, video home buyers guide, Wheaton

Home Loans and Mortgages: Step 9 GET CONDITIONAL APPROVAL FOR YOUR HOME LOAN of Mortgage House’s Step by Step Guide to Getting a Home Loan and Buying Your First Home. This episode covers the steps to getting Conditional approval. Website: http://mortgagehouse.com.au

Duration : 0:1:0

(more…)

Technorati Tags: home loan, home loans, how much can I borrow, mortgage, mortgage broker, mortgage calculator, mortgages

** Visit http://bayareaconnect.com/buy-a-home-step-1/ to learn the first step to buying a new home **

This is Thomas Feng with Bay Area Connect talking with Joe Lima of Princeton Capital about topics affecting a First Time Home Buyer. This week we are finishing with our series about the home buying process. We will be helping you understand step by step what exactly goes on when you buy a home.

Questions we will be discussing include:

-How does the loan process wrap up?
-What does does the escrow process include?
-What is a HUD-1 statement and what does it include?
-What should you expect at the final closing?
-What types of documents will be signed at a closing
-When are closing costs paid?
-When should the additional down payment be ready?
-What are some important things to do after taking ownership?

Are these video giving you useful information? Please leave any questions or comments under the video.

Visit our Blog at http://bayareaconnect.com to stay updated on how the Real Estate Market is changing in the Bay Area.

Duration : 0:6:15

(more…)

Technorati Tags: 183, AB, Adjustable, Agent, Approval, APR, Area, Assembly, Banker, Bay, Bill, Brokerage, buyer, buying, California, Campbell, Capital, Coldwell, Commission, Connect, Credit, Cupertino, Discussion, DOM, estate, Feng, fha, Finding, first, Fixed, fsbo, home, Homebuyer, house, housing, how, Interest, Interview, listing, Loan, local, market, mortgage, New, Obtaining, open, Points, Price, Princeton, Process, Rate, Rates, real, residential, Saratoga, selling, steps, Sunnyvale, Tax, Thomas, time, to, tutorial

** Visit http://bayareaconnect.com/buy-a-home-step-1/ to learn the first step to buying a new home **

This is Thomas Feng with Bay Area Connect talking with Joe Lima of Princeton Capital about topics affecting a First Time Home Buyer. This week we are starting a new series about the home buying process. We will be helping you understand step by step what exactly goes on when you buy a home.

Questions we will be discussing include:

-What is the first thing a buyer should do?
-What is a Pre Approval and what does it contain?
-How do you get a Pre Approval?
-How does a Pre Approval help the buyer?
-What’s after the Pre Approval?
-When should you start looking at houses?
-What are some tips when looking at homes?

Are these video giving you useful information? Please leave any questions or comments under the video.

Visit our Blog at http://bayareaconnect.com to stay updated on how the Real Estate Market is changing in the Bay Area.

Duration : 0:5:0

(more…)

Technorati Tags: 183, AB, Adjustable, Agent, Approval, APR, Area, Assembly, Banker, Bay, Bill, Brokerage, buyer, buying, California, Campbell, Capital, Coldwell, Commission, Connect, Credit, Cupertino, Discussion, DOM, estate, Feng, fha, Finding, first, Fixed, fsbo, home, Homebuyer, house, housing, how, Interest, Interview, listing, Loan, local, market, mortgage, New, Obtaining, open, Points, Price, Princeton, Process, Rate, Rates, real, residential, Saratoga, selling, steps, Sunnyvale, Tax, Thomas, time, to, tutorial