Best of luck!!
You could definitely be qualified for the scenerio seen here. I don't know where anyone got a 41500. payment. I would guess you would be in the $1000. range depending on taxes and insurance. With no other debt as you stated, it would be approxamately one third of your income whisch is within most Lenders guidelines.
If you need more assistance, feel free to contact me.
The very best of luck to you!
Michael D Delp
4802 Old Bethlehem Pike,
Telford Pa. 18969
When you do a pre-approval with a lender they take all of your information and then put it through an "automated Underwriting" system. Typically, when people are putting down a very large downpayment, the underwriting system is more generous in the approval and they will allow the person to have a higher debt service.
The more important question here is will you be comfortable with the monthly payment. Please remember, you will have a mortgage payment in excess of $600 plus your condo fees, taxes and some insurance. Your payment may exceed $1000 with the condo fee. Will that be comfortable for you?'
Take a moment and see how you will feel making that payment. If you need a referral to a good direct lender, I will be glad to provide it to you upon request.
Carol Murray Cei
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
American Pacific Mortgage
Coldwell Banker Preferred Old City
223-225 Market St.
Philadelphia PA 19106
Income of $35K even with large downpayment most likely afford you close to $225K condo with 50% down.
Difficult for anyone state unless you work direct with mortgage broker you can review your financial records, credit score, employment history. I dont believe you should have any problems purchasing a home.
Speak with CPA regarding tax benefits and large downpayment. Owning a home you receive annual tax benefits.
Stacey Karp, Realtor, ABR, e-Pro
CENTURY 21 Alliance - Royersford
322 N. Lewis Road
Royersford, PA 19468
610-948-2100 x311- business phone
610-948-2188 - fax
610-453-2488 - cell
PA License # RS302275