“Get Your Monthly Payment Just Right”
I wanted to reach out to you and give you an update and ask a question. When we first talked, I was a bit liberal when it came to what our combined annual gross salary was between Kasey and I. I was basing hers off of her hourly rate and calculated it from there. The real number is actually lower than 40k and that reflects on her W-2’s for the past few years. Also, her current YTD will not exceed 40k at year end. Is there a way we can revisit loan offerings? We were specifically looking at our chances on a USDA loan instead of an FHA loan. If needed, we can provide pay stubs/past W-2’s if needed to verify the info. We’ve also reduced our budget maximum with the Realtor you referred to us, as 200k would be just outside of what we would like to afford. Being more conservative on this angle will allow us to breathe easier as we move forward, and when we secure a home, will allow us to be more flexible in terms of finances give the fact of having a lower monthly payment on the home. We gave Liane a max of 175k at this point.
Is it possible for you to run the numbers against a home with the cost of 175k? More of a “ballpark” estimate if any. Thanks!
When I go through the pre-qualification process, I make a point to explain the difference between an estimated payment that you qualify for compared to establishing a payment that someone is comfortable with. By no means are they the same.
Once someone understands the difference, each client has an opportunity to review their income and expenses to decide what is best for them.
“Who do you know that could use my help?”
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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
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.
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