[MUSIC]
[MUSIC] And that's why I do these react videos.
“You know, everybody thinks they're a real state mobile these days.”
But just because someone scrolls Zilla like it's their full-time job or binge watches every season of selling sunset, it doesn't mean they actually know what they're talking about. So today, I'll react to some TikTok mortgage hacks to let you know what's legit, and what's a quick way to land on HGTV's next spin-off. House pour and afraid, and also naked for some reason.
Hey, none of my business, property brothers, you do you. Property brother is gonna property brother. But before we get into it, don't hit that like button and subscribe button because then Nickelback and Trump shifts kiss. And shout out to a new channel sponsor.
Delete me. That's right. We're going steady now. What a moron. Almost there.
Perfect. I'll tell you more about them later on. Let's get to the reacts. [MUSIC] Before you buy a house, let me show you a quick hack.
Congrats on buying your first house.
Don't mind me asking, but how can you afford the mortgage? Didn't you just graduate college? Yeah, thank you. But I'm actually going to live at this house for free. You just had a contract with the bank saying that you're going to pay $1,500 each month.
What do you mean you're going to live at this house for free? Yeah, so I remember that you told me you can't stand live with your parents anymore. I got a house. You want to come rent a room? Yeah, just like 500 bucks.
For sure. You want to move into more? Okay. Hey, Lily, such is her. You broke up with your boyfriend.
Do you need a place to stay? Yeah, just bought my house. Yeah, 500 bucks. Okay, I'll look to the store for some ice cream. Kevin, I just bought my house.
“Hey, I remember that you said that your lease is almost up, right?”
You're paying like $900 for a bedroom? How about this? Come live with me for 500 bucks? Yeah, let's go. How is this not illegal?
Yep, it's called house hacking. First of all, you're going to like Kevin live in this house? That's a wild move. That's a choice. I'm just going to say that.
Okay, house hacking has been around for a long time. We just gave it a cool stupid name to make it sound less dumb. But here's how it works, right? You buy maybe a duplex. Maybe you just live in the house with these people like in the scenario.
But this idea that you're going to go buy a four bedroom house with nothing down. And they're just going to give you all the money. And then you're going to magically get three roommates to pay all of this. And it's going to go perfectly well.
This is an absolute pipe dream, which makes it great for a TikTok video. Doesn't it?
Here's what you're not thinking about.
Um, them destroying your house. They can see maintenance repairs insurance. Being the landlord while you live in the house. It's not going to be all fun in games. And I doubt these numbers would ever make sense in today's world.
So thank you, jazz for the fun little skit. But no, thank you. I'm going to hard pass on this just for the sake of Kevin. Yeah, I've really big turn off the Kevin's going to be live in there. Let's see if the comments agree with me here.
Yep, Lou said it's fun and games until their late pay. Thank you for that. Remember to put them on a contract, though. Four X five exclamation six excumations. The question I have here.
Your friend just went through a severe breakup and you're like, "My knee please, I'll still let's get ice cream." Wild behavior. Jazz. One Z.
That's even more wild. Thank you.
I'm here to make my first mortgage payment.
Great. Your monthly payment will be $2,000.
“Actually, I think I'll pay you $1,000 by weekly.”
Oh, that's so much trouble. Listen, pay me monthly and we'll call it even. No, really. I insist, $1,000 every two weeks. But that's the same as $2,000 monthly.
Not exactly. By making buy weekly payments, I'll be done with this mortgage in 24 years versus 30. And I'll save close to $100,000 in unnecessary interest payments. What? No.
No. Oh, yeah. 52 weeks in a year. I make 26 payments, meaning I pay you $26,000 in a year. If I made monthly payments, I would pay $2,000 over 12 months, which means I pay you $24,000.
By making one extra monthly payment a year by paying by weekly, I will save close to $100,000. And be done with this thing six years early. What have gotten away with the two if it wasn't for our John Spine instips. A fellow real estate investor who's helping you see some big money from the big banks. Okay.
Here's a deal. This is true. I actually don't have a problem with this video. Other than it's a big psychological mind game to make you think you're playing a fast one on the banks.
Here's all you're doing. You're just paying extra. So just do that intentionally. The way I did it, I just put extra on top of the principle. If you're going to pay 2,000 bucks a month, just do 2,200 bucks a month.
After 12 months, you've paid an extra $2,400. So you don't have to trick yourself into doing this by making it by weekly. And then making 26 payments in such a 24. Just simplify it and put extra on the principle. With most lenders, there's not going to be a penalty to do that.
You just want to make sure to market toward the principle and not interest. One person, which just is true, banks don't let me do that.
I tried yesterday.
They will not take partial payments.
Now what? Some banks don't allow this, my bank doesn't allow it. Does this principle apply to car loans? Okay. We've a digress here.
So a lot of banks won't allow this, but what they will allow is paying extra on the principle along with your payment each month. Simple. Good work, John.
“If you want to remove PMI from your mortgage, watch this.”
Hello, Lender. I'd like to remove the PMI from my conventional mortgage, please. Yeah, no. We don't just remove PMI. Sorry.
Actually, you do. Under the right circumstances. Housing prices are super high right now. I put in some work over the last couple of years, and I know my house is worth more now than what I bought it for.
For that reason, I'd like to order an appraisal. If my suspicion is correct and the appraisal comes back high enough,
I'll have more than 20% equity in my home,
which means you can remove the PMI. You are absolutely right. Are you following me, com Jess? Actually, I am, you com Jess. Yeah, this one is true.
A lot of Lenders, once you hit that 20% equity level, you can remove PMI. Now, is it as simple as just asking? Sometimes you'd hope so, but this is America. And so, sometimes I make it difficult.
One person on the comments correctly said, FHA loans do not qualify. So, if you've got a conventional fixed right loan, this is possible.
“And if you don't know what PMI is, don't worry about it.”
Just kidding. It's private mortgage insurance. And if you put less than 20% down on a house, the Lenders are going to put this little tax on you to protect themselves.
The insurance is for the Lender, not you. Because you are a riskier baruer, because you have less money down. I love if you could put 20% down or more to avoid this. But if you can't, once you hit that threshold,
I would get it removed as soon as possible. Thanks, com Jess.
James, I'm closing on your first home.
Your loan is for $300,000 at $3.5 interest and your monthly mortgage payments is $1,347. Sounds good. But I'm actually going to be paying you $1,500 per month. Why would you do that?
Well, I know that if I just made the regular monthly mortgage payments, then I'll be paying about $185,000 in interest over the lifetime of the loan. Yes, that's correct. But if I pay an additional $153 per month, my total interest reduces to $151,000,
saving me $34,000 over the lifetime of the loan. Plus, I'll finish off paying the loan in 25 years and one month versus the traditional 30 years. It's pretty significant savings for just putting an additional $5 per day. Wow, that's pretty smart.
How did you find out about this? I heard it from Sean. He makes real estate easy. And that's why I followed him. Gosh, guys, you know what?
You can hate me, but at least I don't do that at the end of all my videos. Where'd you hear that? I follow George Campbell.
“That's what you want to do when you see that.”
But I actually like this video. This is one of the least anger-inducing real estate TikToks I've seen in a long time. We talked about this earlier, but paying extra on the mortgage
is clearly going to save you on interest. I want to show you just how much you could save using the Ramsey Mortgage Payoff calculator, which I will link in the description if you want to try this with your own numbers.
So, let's check this out. Original loan amount. Let's use his numbers. $300,000. Day to first payment.
Let's say it's February 1st, 2026. The loan length 30 years in this case. 3.5% interest, which pipe dream. It's really going to be 6%.
Continue. This is wild. That $300,000 alone. A 6% will cost you $647,000. After those 30 years.
If you just make that payment every single month and no more. But let's say we want to put an extra $1,000 a month to where it is. 12 grand a year. If you can do that.
And let's start the payments. The same time we took it out. So, 20 very first, 2026. Calculate results. That is wild.
The interest savings alone. $216,000. On a $300,000 mortgage. Mind you. So, instead of paying almost 650 grand,
we pay 430 grand. That is some serious savings for consistently paying extra on the mortgage. And obviously your debt free way faster. Instead of 30 years, you have 2026, 2038. You shave 17 years off that bad boy.
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“You should never put 20% down when you're buying a home.”
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“Are you dealing with the cast of uncut gems?”
What is this? We'll qualify to buy a house with this. Now historically, because these are called non-QM, non-qualified mortgage,
they're just called literally outside of the box loans, they are said to be more expensive and interest rate and just overall in the cost of the loan. That is true at most places, but here across the tree mortgage
which is literally why I came here, we do everything in house. So we don't have to broker that loan. She legit said I'm not like the other guys.
We're different.
Which means there are a lot less costs in that loan.
“So if you're going to do 25% down for a home,”
the rate that you're going to get is very similar if not the exact same rate, as if you just did a normal conventional loan and you did fit in the box.
I will never shut up about this loan
because a lot of people just don't even know that it exists, but also a lot of people, unfortunately especially if you're in a pool. In cash and hope to buy that house and cash because they don't think that they can borrow money.
Which that just doesn't even make sense. Even if you have the money to buy house, that's $500,000 all in cash. Why would you when you could invest that money? I mean we could get a bit of a reward.
Send this to the guys selling watches in your community, making half a million dollars. I was going to my body to get started and follow me on here for more mortgage chips.
I will never get back. That 210 seconds. Never. It's never going back. It's just gone.
It's in the past. What's done is done. And you know what?
“She kept saying she's never going to shut up about this”
and that's the most true thing she said in this video. Sometimes it's wise to just shut up. That there's wisdom. It not spit them. Go read Prover.
A lot of books about fools, rather than mouth, but the wise quiet. Everything you said, "Hey, we're part of the house." If you're writing off 90% of your revenue,
you shouldn't be buying a house LOL. Of course all the realtors and mortgage people
like so true girl, never shot up.
Love the content. Link please. PSA fulfills two good to be true. It normally is tread carefully. Thank you.
Facts. I just bought a million dollar home through a bank statement program as a small business owner. It's absolutely possible.
Okay. Jordan manifestation expert. I don't buy it. All right. So if you aren't manifestation expert influencer,
this is for you. I'm done. I'm done with this video. He's done. As per usual,
producer Alex has provided. It's a surprise bonus clip. And the only thing he told me is that
this was a popular trend on TikTok.
I am not up with the trends. So I'm about to be up. Telling my old man, I'm not going to be able to pay the mortgage just month.
I'm not going to be able to pay the mortgage just month. I'm not going to be able to pay the mortgage just month. I'm not going to be able to pay the mortgage just month. I'm not going to be able to pay the mortgage just month.
I'm not going to be able to pay the mortgage just month. I'm not going to pay the mortgage just month. I'm not going to pay the mortgage just month. I'm not going to pay the mortgage just month. I'm not going to pay the mortgage just month.
This guy could not be bothered. He barely gave her a smirk. That's so much. He did not buy this. First comment.
Indigenous men are beautiful. Who am I to disagree? It's a good looking guy. Perfect skin. Beautiful hair.
Love the vibe. Cool tattoos. Everything I'm not. What does that make me then? Am I just digin' this?
I don't know. What's the opposite of Indigenous? Oh, that's why this is viral. Everyone's attracted to this man. So far all the comments.
Respectfully, he got a brother? Uncle Papa? He's so pretty though. Man, with all due respect. Okay.
I'm not going to even read that one. I'm just waiting for one comment about the actual joke. About her not being able to pay the mortgage this month. Nope. Nope.
Nope. Just people thirst trapping this fella. He's more than just an a beautiful Indigenous man. He's a soul. He's a mind.
Nothing. Literally nothing. Just a bunch of ladies who can't keep their eyes off him. I'm still going guys. Thousands of comments and all about his looks.
And you know what? That reminds me of my comment section. For once I want someone to say George, fantastic financial advice. Super helpful. Love the budgeting tips.
But instead, it's all stuff like this, guys. And honestly, I'm flattered. Truthfully. But it just gets old. When I walk around, I'm in the stream.
You're like, George, oh my gosh. This is the most beautiful man I've laid eyes on.
“And I'm like, guys, can I just get a drink at Starbucks?”
Can I be harranged in harassed? Just out in public? Anyways. Great hack. I assume the joke is that she doesn't pay the mortgage and that he handles it.
And therefore, it's a WTF moment. Why the face? Is that what's happening? I'm going to watch this other one related to see. Hey, I'm not going to, uh, be able to pay the mortgage just a minute.
I ain't going to have money to pay it.
Ramp you.
Ramp.
She's never going to have to pay the mortgage.
I'm not going to be able to pay the mortgage this month. Well, you'll never pay the mortgage. Why is every due to reaction, exploitive? Anger. Clearly, there's some built up resentment.
This guy is very upset. Okay. So the joke is that women traditionally aren't handling the major finances. And so it's hilarious to be like, hey, I'm not going to be able to make it this month.
So we got to figure that out.
“But I think there's a lot of women out there who actually are the smart ones financially.”
And we get calls like this. And they are handling their run in the finances. But the husband hopefully is very much involved. So be on the same page. It's fine.
If one of you clicks the button or has it on autopay. But it is a funny trend. It's a funny. I'll give you that. All right.
Stupid hacks aside.
“Your mortgage is not something to mess around with.”
For most people, your house is the biggest purchase you'll ever make. And the way you handle that mortgage can either save you tens of thousands or even over a hundred thousand or cost you even more. And if you really want to save money under mortgage, here's the real hack that's not really a hack at all. Put down as much as you can as a down payment.
5 to 10% is okay for first time home buyers.
But I love shooting for 20% or more to avoid that PMI. And reduce the amount you need for a mortgage, which also reduces your payment. Also, choose a 15 year fixed rate mortgage. Where the payment is no more than a quarter of your after tax monthly income. What that does is it keeps you from buying more house than you can afford.
And it also forces you to pay off that house at most in 15 years. But likely you'll pay it off early if you follow those parameters. And then pay it off as fast as you can. Just put extra on the principle like I did. And remember, the more you can pay, the better.
And if you're in a season where you can't, that's okay. So there you go. You don't need to say some secret words to your lender to magically unlock savings. You don't need to do a triple backflip and recast and he lock your way out of this thing. You just need a budget, a plan, and enough margin to make extra payments.
Because building wealth is not about hacking the system. It's about doing simple things consistently over time.
“And if you want to know how to pay off your house in 10 years or less,”
click here to watch this video up next where I break it down or click the link in the description. Be sure to share this video with someone who's banking on their five and a half roommates to make their mortgage including Kevin. Thanks for watching. We'll see you in the next video.
[MUSIC] Try and look away. A little more butt rock if you look at it. [MUSIC] What?
All right, there it is.
