“If Debt Ratios are Tight, it is a Good Idea to Check before You Look”

“If Debt Ratios are Tight, it is a Good Idea to Check before You Look”

 

 

 

This client made the mistake a few years ago. He didn’t check with me to make sure that the numbers worked and they didn’t. Originally we were looking at a home where the property taxes were $4200, but the offer was not accepted. The second property the price was similar, but the property taxes were $7,900.

 

The property he wants to look at now is a condo and the fee is $503, as a result the debt ratio doesn’t work. He is at least checking with me in advance so that he is not wasting anyone’s time.

 

 

Hi Joe, I decided not to proceed with purchase of property at 57 town beach road, because it needed a lot of work. You did send me a letter for pre qualification for property, but need a new one. I am wondering if I can afford another listing at 110 Sandy Point Road, same town. Have not looked at it yet. Asking price is at $255,000, will I still be OK at this price? Taxes are $3,250 and HOA is $503 per month .I was not looking for condo's for a little while because had family and friends visiting for their vacation. I should of told you I decided not to proceed with other property, sorry.

 

 Image courtesy of StuartMiles/freedigialphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 7 commentsJoe Petrowsky • September 19 2016 08:07AM
“If Debt Ratios are Tight, it is a Good Idea to Check before You Look”
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