When You Almost Qualify For Your New Home Purchase...This One Option May Help You…
Real estate prices skyrocketing have not helped with home purchase affordability.
It’s no secret the average price of a home in this market is approximately $325,000.00.
If you have no debt, you have to earn just over $55,000.00 annually, and your estimated total mortgage payment on a 95% loan to value loan will be about $2,066.00 a month.
Suppose you earn slightly less than 55k a year and want to buy a primary home right now. What you may want to consider is adding a non-occupant borrower or a non-residing borrower to your mortgage application, usually, this could be a family member.
It’s essential to know guidelines vary for family members versus non family members. Guidelines also vary for FHA loans vs Conventional loans.
This option is not for the person who won’t be able to make the total mortgage payment on their own.
Message me below to discuss if this option makes sense for you right now.
If you have any specific questions regarding the home loan pre-approval process, let me know. To check out all your loan options, our
services page.
“Here’s what to do now… download your free homebuyer ebook, click here.”
My name is Edgar DeJesus. I’m the mortgage advisor and branch manager of Treasure Coast Home Loans. Call or text, (772) 444-6362, with any questions that will let me separate opinion from opportunity.
Thank you for taking the time to read my latest real estate and mortgage report.
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