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Monique Buchanan, your real estate specialist, talks all things real estate. On this show she covers the processes of buying and selling a home. The Monique Buchanan informs you on best practices to navigate the housing market so that you can start building your wealth through home equity.
Wesley Knight 0:00
This is a KU NV studios original program. The content of this program does not reflect the views or opinions of 91.5 jazz and Moore the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. You
Monique Buchanan 0:40
Well, happy Saturday Las Vegas. It is Monique Buchanan, the host of the Monique Buchanan show, and this is your everything real estate show and more. Listen, we can assist in all 50 states and in 24 countries. Please do not forget that we are to here to assist me and my team, and I've got none other than Miss Becky and Anthony, our favorite lender on the line. Good morning, you guys. Good morning. Mo, good morning, Anthony. Good morning, Anthony. Are you there? Aloha, ladies. Aloha. Aloha. So we are the ninth Island, aren't we?
Anthony Valentino 1:16
Anthony, you sure are. You're the ninth, 10th and 11th.
Monique Buchanan 1:20
Love it. And so, just so you guys know, Anthony has a team of 450 lenders nationwide. He does now live in Hawaii, but he is from Las Vegas, so he knows Las Vegas up and down and all around isn't that right tone?
Anthony Valentino 1:36
That's right. I was born and raised. I went to ok at cock, and then I went to our side, and I went to bonanza. And so, yeah, yeah, I'm born and raised Las Vegas. Even though I live on the island of
Monique Buchanan 1:50
Hawaii, I love it. So if you guys are out there and you are in Hawaii, just know that we can assist you right there in Hawaii as well. So we have a team out there as well. And hey, Anthony's boots on the ground in Hawaii. So if you got, I know we have, we actually play Hawaiian music here on 91.5 it's so beautiful. I love listening to it. So I know that we have a huge base of our Hawaiian family members out there at KU NB, so now they know that Anthony's in Hawaii, and Mo and the team can help you out there as well. But you guys, we have an exciting show today. We have a program for physicians. And I know that there's quite a few physicians, and you know, just folks, Anthony's gonna get into the, you know, the weeds of it, but PhD holders, even you said CRNAs. So this is for all of our dentists, our pharmacists, our medical residents. Did you hear me? Medical residents, right? CRNAs, nurse practitioners, licensed psychologists, anesthesiologists, physicians. We have a program to get into a home you can buy a home with zero down. Becky, seriously and yeah, just like a veteran, zero down. And here's my favorite part, no PMI, just like a veteran. And if you don't know what PMI means, that means that you have to normally insure your own home loan, which costs you quite a bit extra per month on your mortgage. And so veterans automatically get what we call no PMI. They don't have to put 20% down. So that's why, when Anthony told me we've got this program, I just was so ecstatic. Me and Becky said, we can't wait to roll this out and let all of our listeners out there that hold a PhD or fall in any of those categories, man, you can buy like a veteran, and Anthony says, also, your student loans do not count towards your debt to income. Now, normally, there's so many doctors and physicians and people out there dentists that are renting because they think their student loans are going to hold. Their loans are some pretty hefty, yeah, they're hefty, especially when you go, you know, eight years to get your PhD. So Anthony, how about you just go ahead and give us the nuggets, brother, we're so excited about this loan that we now have.
Anthony Valentino 4:07
Yeah, I mean, it's definitely an opportunity for our, you know, medical professionals. And you know, you, you nailed it right on the head where their their issues are, one they just spent, you know, almost a decade in school eight years plus. So it's not like they had time to save money, or they were working, you know, being able to save money. They were college and and eating Top Ramen and, and so, you know, this is an opportunity to where they can purchase a home up to $2 million this is not like a first time home buyer, where your your minimum or, you know, you have a grant that you got to pay back. This is a CLTV, a combined loan to value of 100% which includes up to $2 million
Becky Coins 4:51
Wait a minute, you said, $2 million Anthony, what's that? I said, Wait a second, there. You said $2 million
Anthony Valentino 4:58
2 million Yeah. Yeah, yeah. This is for 2 million, and this is for purchases and refinances the MO, what you talked about the student loans being excluded from the debt to income ratio, you know, during, you know, when they're in college and residency, they they stack up that student loans. This does not affect their debt to income ratio. You know, there's just, you do a 15 year, a 20 year, a 30 year. They even have arms, if you're savvy with the market and economy, if you want to do a five year, seven year, 10 year ARM, so you have all of the tools necessary. So that way you can be a part of the top of the k curve economy. You do not want to be on the bottom of the k curve economy. You do not want to be an asset chaser. You want to be an asset haver, because the more assets you have, then the better quality of life that you're going to see within the next five years.
Becky Coins 5:48
Yeah, and it sounds like because so many doctors and people who are going through school like that's they kind of put that home ownership on the back burner, right? Because they're so busy getting their career off the ground, and that's where all their finances are going, and they don't feel like they have the ability, ability to do that,
Monique Buchanan 6:02
right, right? Let me tell you, when you told me about this, I mean, I went right to my my dentist, Hey girl, you know, and she had already used it. She said, Yeah, yeah, I've heard of that, but she had used it out of state. So I'm here to tell you that Anthony has the ability to use it in all 50 states.
Becky Coins 6:21
She had a hard time here. Yeah, she said she had
Monique Buchanan 6:23
a hard time finding a lender. So, you know, Anthony said, hey, I can do it, and I can do it in all 50 states. Is that?
Anthony Valentino 6:29
Right? Anthony, yeah, this is not excluded, just for Nevada. This is across the US. So this is definitely open to everyone. You know, a lot of people when they don't understand something and they fear something, and they're not basing it off of confidence and facts. And they kind of, you know, get in this catatonic state of, well, I'm not going to do anything because I don't want to make a mistake. And that's why it's really important when it comes to home ownership, you know, with you money, can you Becky? You know, just breathing confidence and education into the process. Because once you understand it, it's not as scary as people think,
Monique Buchanan 7:02
yes, yes. And they deserve it. They deserve it. They're on the front lines. You know, you're looking at these folks when you're, you know, looking at possibly, you know, needing them to save your life. So I'm like, listen, they deserve it. We do have nursing programs. Nursing zero down too, as well. Anthony, right,
Anthony Valentino 7:20
yeah, we have first responder programs, whether firefighting, police, you know, nursing programs. There are state specific down payment assistance programs, you know. So there are no obstacles, you know, if you have a pulse and you want to have generational wealth and you want to stop making landlords rich or putting their kids through college, home ownership is the is, is the standard? Absolutely not tell you guys enough how important homeownership is, especially in this economy. It we are seeing changes that we've not seen since the Industrial Revolution.
Monique Buchanan 7:56
Absolutely, we kind of said the concert tickets. We use that analogy last last week, right? So real quick, I do want to say that it's a 640 credit score, correct?
Anthony Valentino 8:04
So it's a 680 FICO score. 640 is for first responders, okay, and and down payment assistance. This is a 680 but I will tell you, most doctors or professionals, they're so busy learning that they didn't have any time to get into debt, right? I have seen that percent of physicians and doctors, they either have very little credit or good credit because they did not have any time on their hands to spend any money that they had or that you know, that they received.
Monique Buchanan 8:39
So if they have no credit. They can use one of their family members correct, even though they're the family members, not a first, you know, not a physician. They can use mom, dad, brother, sister for a non occupying co borrower. In other words, they're not gonna live in the house, but they're gonna just basically co sign for you, right?
Anthony Valentino 8:56
I love how you're always two steps ahead. You are a master at answering questions before they're asked, you're always two steps ahead, and that is just organically. You You don't realize it. But I'm calling that out because that question right there is amazing, the fact that, hey, I've been in, you know, residency, or I've been in school for eight years. I don't make enough money, but my parents do, or my mom, dad, brother, sister and uncle. This program, 100% allows non occupying co signers. So if you do need a tribe to help you get that house, 100% and that's the big thing. I hate to deviate. But the one thing that I see as a mortgage lender is when I talk to, you know, my beautiful ethnic clients, whether they're Hispanic or they're Asian, it is actually, it is actually disrespectful to not ask your family to be on because they are a one for all. I'm all for one. So if, if my agent, or Hispanic communities purchase a house and they don't ask grandma or. Anti to co sign that is a disrespect. Yeah, so they are together as the American side. They're like, I'm gonna do it on my own. Stubborn.
Monique Buchanan 10:13
We have one right now, like that. Yes, we do. His grandma's trying to get, you know, cosign for him. And he's like, Nah,
Becky Coins 10:20
if I can do without it, if I could do without it,
Anthony Valentino 10:24
which I get it? You know, some people take away from this is, listen like you have blood in other veins for a reason, and it's not for, you know, just to get a blood work done that's to help your generational wealth. And so you have to come together. And in this economy and in this type of market that we're in, you have to have that tribe mentality, because if you don't, you're going to be waiting for perfect and that will come and go, and you will be having nothing to show for it, right?
Monique Buchanan 10:59
Absolutely, you don't want to miss that opportunity to build wealth for your family. And like you said, Stop paying these landlords, which I am landlord, but I won't be mad if you stop paying me and get yourself at your own home to build for your family.
Becky Coins 11:10
So that age old adage, when was the right time to buy yesterday
Monique Buchanan 11:14
and then today, today's next best time. That's right. So okay, so this is great, you guys, if you're just tuning in, we are talking about a new loan product that we have for physicians. Okay, not just physicians, once again, physicians, anesthesiologists, dentists, pharmacists, medical residents. Tone, we're gonna have to talk about that, because that was pretty awesome. CRNAs, nurse practitioners, licensed psychologist, so PhD, or P, S, y, d, Anthony, medical residents. Becky, when he told me that medical residents could even get this loan, zero down, basically treat it like a veteran. Zero down, no. PMI, the rates have just dropped. So Anthony, let's talk about that. The rates are coming down like we predicted when last year, yeah, kept telling everybody,
Anthony Valentino 12:07
yeah, I would say, you know, here's what's interesting. Mo, we're actually watching a shift happen in real time. And for the first time in a few years, mortgage rates, they're back in the fives. In fact, the national average of a 30 year fixed is what most people, you know are. We're hoping to see, like 12 months ago, when we were in the sevens. You know, upper sevens is we're in the higher five range, you know, bank rate. And the average, you know, 30 year fixed is showing between 5.9 and 6.1 but like, psychologically, it matters, because when you zoom out a little, we've already seen the feds have starting to cut rates, and that tells us that inflation is cooled enough to where they're not in emergency mode anymore to lower the rates, and they're not as aggressive. But at the same time, it really drives mortgages and pricing and growth, and when people are seeing that, hey, they're getting off the sidelines. And rates are now in a part where it's actually affordable. It's uncomfortable, but it's affordable. That's the time you do not want to wait till everyone's at the party,
Monique Buchanan 13:12
right? Right? Exactly.
Becky Coins 13:14
So I have a question or want to clarify, I guess, when it comes to this medical professional, so it needs to be a primary residence, correct, no investment properties, correct.
Anthony Valentino 13:24
It cannot be a second home or can't be an investment. This has strictly just for a primary residence, that's correct. But after a year, if they wanted to upgrade or do whatever they need, they can absolutely make it a second home or an investment. But as far as the first time out of the gate. Primary residence is the
Becky Coins 13:42
cause. And what about multifamily? Great
Anthony Valentino 13:45
question. No multifamily. This is not meant for investment. This is meant for primary dwelling,
Monique Buchanan 13:51
you know. And so veterans, they're able to buy zero down, no PMI, and they're able to buy the multifamily. So that's the only difference so far that I see, yeah, between, you know, physicians loan and the Veterans loan. I mean, I love this, okay,
Anthony Valentino 14:05
that people don't understand what the veterans loan is. I'm a VA expert. I go straight to the central bank. I have no fees. That's right.
Wesley Knight 14:15
Monique Buchanan has served the community for over 10 years, helping homeowners, probate, families, first time buyers with zero down grants and investors nationwide, serving all 50 states and 24 countries worldwide. 702-984-3700, at realtor Monique Buchanan on Instagram, the Monique Buchanan team experience you can trust. And now back to the Welcome Home show real quick.
Monique Buchanan 14:40
I'm sorry not Tom tone. Remember what you were gonna say, but I want to talk about something real quick. I called you this week because one of my first clients, he's been loyal to me for years. I just love him to death. He's moving back from North Carolina. He's a firefighter and he's a veteran. He's moving back home. So he calls me, Mo, need to buy a house out there. I said, Okay, great. He goes, Yeah. I've been talking to some what. We call it Veterans Affairs loan.
Becky Coins 15:01
Pete and I just went through this client.
Monique Buchanan 15:05
So there's these lenders out there that name themselves that makes them sound like they have some association with the VA, but they don't. They're just regular lenders. And so he was like, Oh my gosh, I'm so glad, because he's thinking they're connected to the VA. Anthony, can you talk about that a little bit? Because you here's the thing, Anthony, he is connected, and he charges no fees. You know what I mean. And when you compare the fees they were that, that those folks were about to charge my client. I mean, it was crazy. It made a difference. But he just naturally assumed, because of their name, yep, they were associated, yep, Anthony, please speak on that before we go back to this real quick.
Anthony Valentino 15:44
Yeah, you nailed it. I mean, at the end of the day, you have two different types of people, lenders, mortgages, ones who try to sell and give you enough information to keep you at bay, and then ones who educate and who breathe confidence and who are transparent like a glass window to show you everything, who, why, when, where and how. And I agree with you. Mo, there are a lot of companies, main major companies, out there with veterans, word in it, and other ones, and they act like they're a division of the of the VA, and they're not. And and it shows and their cost and their points and their mortgages and how long it takes, and how few conversations they have with the veteran on all of the perks and all the benefits that come with being a veteran and putting your life on the line for this country. So it's really important to talk to someone who really understands VA loans and not just tries to sell you it, but really tries to educate you on it. And I agree. Now, one thing to note on VA loans is it allows the homeowner to get in with nothing down right, and allows to get the best rates out there, yes, and not have any mortgage insurance. There is one caveat, and it's upfront mortgage insurance. So there is a it's just like FHA has upfront mortgage insurance. Well, VA has what is called a VA funding fee. Okay? Now the VA funding fee is for anyone who's not exempt from the funding fee. So if you are at least 10% disabled, or if you have are a widow of a someone who passed during active duty, or Purple Heart reciprocate, and then you will see that that VA funding fee go away. But the VA funding fee is something that gets put into the loan. So when you think about it, the first one, if you use it, is point 5% but in 2026 if, if you are, if you're wanting to get a VA loan, you're going to see a 2.15% adder on top of the loan amount. So if you're getting, you know, let's just say a $450,000 house, you're going to see an $11,250 fee put into the loan so it's not out of pocket. So that's the only thing to note, is that you will see a small fee that the VA attributes to your loan amount. But that's better than paying rent and having to put money down or having mortgage insurance. It's still a win.
Monique Buchanan 18:17
You know what? That's what I love about you, Anthony, that's why we do such great business together, because your heart is in this. You're you're upfront, you're in in my client's face with the truth, and I appreciate that you put it right in front of them. So that fee is not from you and your company, that is from the VA. No matter what lender they use, it's not going anywhere. It's going to be right there. I love that. I love that you go over their payment, they know what their payment is before me and them, me and Becky and them, hit the hit the road. They know what they're paying if they if they're buying a 550 home, they know what that payment looks like. They know how much they're gonna have to bring to the table at the end of the day. I appreciate that, because, you know, it's imperative. I can't go shopping for a house and just walk in all these houses with Monique and, you know, and Becky, and then I got to wonder how much I'm going to end up paying per month. I need to know that that is what's going to make me say, okay, Monique, okay, Becky, let's get that offer in. Because if I can't afford it, then why am I even in this house?
Becky Coins 19:12
And I love that. Anthony breaks all that down. And Anthony's not kidding, because I've spoken about on the show before. My son is a veteran. He's active duty right now. Anthony took amazing. Gotta love Jake. And yeah, no, I mean he Jake was very nervous. Anthony calmed him immediately. He gave him clarity. Gave him clarity. Yep, Anthony's always talking about the confidence, right? You should see the confidence he has now.
Monique Buchanan 19:37
Oh now, yeah, he thinks he's selling houses himself.
Becky Coins 19:39
Oh yeah, yeah, he's, well, yeah, because he already had one of his buddies out there as soon as they saw him, he's like, I tried to tell you. And they went through the same thing with the whole VA, quote, unquote partner, whatever that they had gotten pre approved
Monique Buchanan 19:54
as they thought they were somebody connected to the VA, and they weren't. They just a regular lender. And it. Just didn't, you know, not saying that they know that that's gonna turn out bad. No, I'm just saying that, you know it's a little deceiving. Yes, you know what I mean. So just be honest with me, hey, but I'm still gonna take good care of you. All right, cool, let's, let's do this. You know what I mean. But anyways, I so here's another thing that was brought to my attention by one of my friends, who's a veteran. She said this, which caught my attention. I said, You know what? I need to talk about that on the show. She said, You know Monique, I don't think I want to buy right now, because we move around so much, and you know me. I'm like, Hey, I never I hate to see a veteran waste their entitle. Yes. So I'm like, no, just go ahead and you know, if you buy right now, then you could always rent out. Because right now I know what I'm able to do, able to get those closing costs, right? And then able to have her almost out of her pocket like nothing. We've had veterans get money back, so she goes. But Monique, I've heard a lot of veterans, or just people in general, struggle to sell their houses, which is true, it was hard this last year, honey. There's those houses are sitting. They were sitting. I told I was honest with you guys a couple months ago. I told you I was straight up. I said, Listen, if you're thinking about selling, don't do it. The don't do it. The houses right now are sitting this was a couple months ago. I was honest with my listeners. I had about four or five listings this last week. People are calling me to list their house, and it's perfect. It's right before spring, the buyers are out. The rates have dropped. But anyways, I told her, sweetheart, this is what happens when you buy a property and you've only lived in it for one year and you don't want to rent it out in it out and let it go ahead and get that time to make equity. You're right. It's going to be hard to sell because you have fees. Where's the money going to come from? You know, if you have no equity in your home, because you're buying it and turning around, almost like flipping it, yeah, so you have got to create equity some way, flippers. They put, you know, money into the home, and that's what brings them the equity. But if you're buying the home ready to go, it's beautiful, and you've only lived in it for a year, and now, you know, it's only went up maybe $10,000 well, no, yeah, so that's why I say you've got plenty of people on the base that need somewhere to stay, so let that renter continue to pay your mortgage and build that equity. Am I right?
Anthony Valentino 22:03
Anthony, yeah. And I got two things from from what you said. First, so one, we're going to talk about House hacking, which Gen X and Gen Z is doing, which ties into the VA of renting it. And then the second thing is, I want people to really understand what I'm about to say here. Okay, when you own a home, when you own a physical asset, a recession proof asset, you cannot think one dimensional. You can't think, well, if I rent it out, how much am I making on top of the mortgage? That's not how it works. There are so many other perks to home ownership, right? I but tax right down to four pillars of economics. The first one is as you're buying, you know, as you hold on to it, you're continuing to pay down that principle until it evaporates and it's gone. So you're paying yourself a percentage, couple percentage points every year by holding it and having the renters pay down the principal at on your behalf,
Monique Buchanan 22:57
they're buying the house for you. Is, yeah.
Anthony Valentino 22:59
The second is the earned equity. You know, the appreciation. You know between 3.6 and 4.7 is expected average per year over the next five years in Clark County in Las Vegas Valley, it was up to six and 7% the last five years, but because the rates in the market, but we're still seeing three to 6% in appreciation that goes in your pocket. Anthony, real quick,
Monique Buchanan 23:21
when you say three to 6% three to 6% so if I have a if I bought a house for $400,000 today, 6% How much would it be worth next year? Just give me a rough estimate.
Anthony Valentino 23:30
So if you bought a house for 400,000 and you got 6% that's $24,000 a year in five years, that's 120,000 There we go. No if we even go simple, let's go 450,000 and we go, let's just go. You know, two and a half percent, that's 11,250 a year, that's still almost 60,060 months that you'd make just breathing. And that's not the big aspect. Here's the one thing that people are missing with home ownership. And this is for vas. This is for FHA, conventional. It's the tax incentives. Here's what the rich guys understand. When the rich guys make, you know, a million dollars in earned income, they want to find a million dollars in earned debt, or they wipe away the income tax right. The same goes with the position,
Monique Buchanan 24:17
working class positions that are making three, four or 500,000 that are renting right now, when we just told them, 702984 3700 in fact, I think that's the first time I've said the number 7029 84 3700 because you're renting and you're getting no tax break, right?
Anthony Valentino 24:35
Anthony, no, yeah, most positions are w2 or if they're 1098, they're self employed. They are looking for tax umbrellas, right? Tax shelters. Your home is a tax shelter. You can write off the interest, the taxes, the insurance, the HOA, the maintenance, you know, if it's a short term, you can do cost segregation and bonus depreciation. There's so much perks with taxes when. You own a home that a lot of people overlook absolutely
Becky Coins 25:03
well, I wish we had more time. I know I was really excited about this one. I know I'm so excited.
Monique Buchanan 25:08
So once again, let me just do a quick recap. We are talking about a loan that Anthony now has available to physicians. I'm going to rattle off what that includes one more time. So not just physicians, MDS, dos, anesthesiologists, dentists, pharmacists, medical residents, okay? CRNAs, nurse practitioners and licensed psychologists can take advantage of zero down No. PMI, you only need a 680 credit score. Nurses, we have one for you too. You too. You only need a 640 credit score. That's all first responders, not just nurses, no PMI zero down, you're basically being treated like a veteran. Student loan debt does not count against you, so if you you can be approved all the way up to $2 million okay? So you can get out there and buy your home and stop renting as a physician as well. We are excited about this. We are ready to help you with this.
Anthony Valentino 26:05
And if it's from primary source data, meaning the data is derived from that source, and it's not from social media, your Uncle Tommy, you know your your x account or your Instagram account, if, if if your why is based off a sound information, then you're good. But if it's not, it's worth it to have a conversation. So that way you educate yourself and you understand. And another thing too, you know, the house hacking thing. I'll make a 32nd snippet of it when people say that, you know, home prices are too expensive and home prices have priced them out. Well, am I putting my lifestyle ahead of my future, or am I putting my future ahead of my lifestyle? And people will find when they house hack, if they buy a house and they rent out a room to friends or family, they can have the house they want, knowing that down the road they can make it their own, but now they're building generational wealth. That's where the lifestyle comes in, and
Monique Buchanan 27:05
other people are paying it off for them. Well, that looks like we have to wrap it on up, but don't you, don't you think I'm not going to bring this back up again. We're definitely going to be talking about this because, like I said, physicians, medical workers, they all deserve this. I love you guys. I have been listen. I had to depend on you when I was having my babies. I thank you so much for keeping me safe my nurses when I was sick. You know, the ambulance. Hello, everybody. You know, a lot of times I feel like they go overlooked, and I'm just so grateful for each and every one of them. And I think covid really showed us we really need, need to appreciate them. So I just like my veterans, you deserve this. So if you're interested in this or you need more information, 7029 84, 3700, Thank you, Anthony for this opportunity for our physicians. Thank you Becky for coming on like always. We love UK. UMB, you guys have a great weekend. Thank you for listening. Please remember all terms discussed are simply an estimate. My license number is S, 1788, 46, my phone number, if you'd like to contact me, is 702-984-3700, you can also find me on YouTube. You.
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