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JimSulli
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Specialties:
Investment Real Estate, Residential Real Estate
Certifications
& Awards:
& Awards:
Graduate of the Realtor Institute
JimSulli answered:
Hello Sam, sounds like you've got youself a pretty good deal. You may want to research with a good mortgage company, or your local bank (not sure if you bank at Franklin, or maybe Elmer) on a loan with a gift of equity. Since this is a family member, you could be able to do this. This will allow for you to not have to pay PMI, and actually make your mortgage even more affordable. Your recurring debt is what is going to matter, and also your income. Let me know if you need anything.
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