Bay Area Tech Realtor Nagaraj Annaiah

Chinese invasion in California real estate

First time home buyers are getting a second chance

If you want to buy a house in your lifetime, listen to this!

How to game the system and create wealth

5 assets that will make you rich

Hack to building wealth

Why the rich stay rich and the poor stay poor

How to get rich quick

How to make money with no money (Part 4)

How to make money with no money (Part 3)

How to make money with no money (Part 2)

How to make money with no money

Interview with Nagaraj Annaiah on Bolly 92.3 FM

If you live in New Jersey, you may want to pay attention to a new report from ATTOM, which ranks the 10 counties most vulnerable to a downturn.The study looked at the highest concentrations of the most at-risk markets in the first quarter of 2022 — and six of them were in New Jersey. The report considered factors like foreclosure rate, mortgage balances that exceed property values, unemployment rate, and average local wages required to pay for major home ownership expenses on median-priced single-family homes. Here they are...(Watch the rest on my Youtube channel)

Even if your H1B visa or extension gets denied, you have a few options. Here are three ways that buying a house while on an H1B visa could work out for you in the long run:#1 Rent your house in the US if your H1B visa gets denied. When this happens, you can rent out your house and avoid the hassle of selling it. This will allow you to keep living in the US even after leaving your home country or moving elsewhere.#2 Sell your house on an H1B visa if you have to return to your home country or move elsewhere. If you decide to sell your house and leave for good, don't worry—you can still sell it! If someone buys it from you, they'll pay off the mortgage so that nothing defaults when you leave America behind.#3 Allow your family or friends to live there as well.

On an H-1B visa, most lenders will decide the status of a mortgage applicant on a case-by-case basis by utilizing the information available to them. The following is required by most lenders...SSNValid work visa2 years US credit history2 years US employment historyGood credit score, ideally over 670US income that you expect to continue for at least 3 yearsIf you are applying for an FHA loan, you will need an Employment Authorization Document (EAD) from the USCIS.

First off, owning a home has been proven to improve your quality of life in the US. You have more security and stability in your life, which leads to better mental health and happiness.Second, buying a house is a safe and secure way to build wealth for H1B visa holders. You can deduct mortgage interest payments from your income taxes, so it's like getting an interest-free loan from the government!Third, owning a home is generally cheaper v/s renting on an H1B visa. This is especially true if you buy in an area where property values are rising quickly—the rent-to-own strategy lets you lock in these low rates!Fourth, mortgage payments are less volatile than rent payments: if your income goes up or down during the year, it won't affect your ability to make payments on time.

If you're an H1B visa holder, you're probably wondering if you can buy a home with an FHA loan. The answer is yes!FHA loans are government-backed mortgages insured by the Federal Housing Administration. They require lower minimum credit scores and down payments than many conventional loans, making them especially popular with first-time homebuyers and H1B visa holders.For an H1B visa holder, the eligibility for an FHA loan depends on the borrower meeting the following guidelines: The property will be the Borrower’s Principal Residence;The Borrower has a valid SSN, except for those employed by the World Bank, a foreign embassy, or equivalent employer identified by HUD;The Borrower is eligible to work in the United States, as evidenced by the Employment Authorization Document issued by the USCIS; andThe Borrower satisfies the same requirements, terms, and conditions as those for U.S. citizens.

Conventional mortgages are not guaranteed or insured by the federal government. Conforming mortgages are the most popular conventional mortgages because they fulfill the requirements to be sold to Fannie Mae or Freddie Mac, government-sponsored enterprises that purchase mortgages from lenders and sell them to investors. Here are the differences between conventional and FHA loans...

It depends on your situation. If you want to get a conventional loan and have good credit, you can put as little as 3% of the purchase price down. But if you don't have enough savings and can't afford private mortgage insurance, it's better to have at least 20% equity in your home when buying it.If you're looking for an FHA loan, most common among first-time buyers, then 3.5% of the purchase price will cover things with a credit score of 580+, while 10% will cover things with a credit score of 500-579. If your credit score isn't quite so great, then some lenders may require that you put down as much as 25% of the purchase price.