Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Prediction
Topic
Status
A $800,000 primary home mortgage at 3% interest will have monthly payments of $3,373.
"at the time of me recording this video this might only cost you 3% a year in interest compare that to what you would have to pay if you got the commercial loan like I talked about earlier so now if you wanted to buy the same $1 million property and you put down $200,000 now your monthly mortgage payments are going to drop from $4,800 a month to $3373 a month"
Interest Rates
Pending
Most lenders do not allow renting out a primary residence unit for at least 12 months after purchase, but after 12 months, the owner typically has the right to convert it to a rental unit.
"at the time of me recording this video most lenders have a rule that you are not allowed to rent out your primary residence unit so if you buy this property you can buy it as a home your own personal residents but you're not allowed to rent out your unit for at least 12 months but after 12 months you typically have the right to turn this unit into a rental unit as well"
Interest Rates
Pending
In 2021, the conforming mortgage limit was around $550,000, with higher limits in major cities like New York.
"in 2021 the limit for a conforming mortgage is right around $550,000 for your mortgage unless you're in a really big city like New York where now your mortgage limit is a little bit higher"
Real Estate
Pending
Interest rates are currently at historical lows, suggesting they are likely to increase in the future, making Adjustable Rate Mortgages (ARMs) a risky choice.
"right now we are in one of the lowest interest rate periods in history it doesn't make sense to get an arm when interest rates are already lower than they've ever been in the future the only way interest rates can go are up unless we go negative interest rates but even then we're already seeing the lowest interest rates in history"
Interest Rates
Pending