Income is one part of the mortgage qualifying equation, the others big ones are:
1. Monthly Debt Payments (credit cards, student loans, car loans, etc.)
2. Credit (credit score, if it's not perfect then what is on your credit making it not perfect)
3. Sales price
4. Down payment
5. Location
With $26k/year of income, the most you would probably qualify for in terms of a mortgage payment is $1k/mo. If there are other people on the mortgage then it may be possible to use their income to help qualify too. The lower the sales price and/or the bigger the down payment, the lower your mortgage payment will be.... more
Unfortunately, discrimination still exists in our society but I'm not sure it occurred in this case. A seller's agent works for the seller and is required to do their fiduciary duties to protect the seller. That is what could have happened here. Asking for credit scores by itself is not a discriminatory act. However, if the seller's agent asked for your credit scores and not those of the ultimate buyer, than it's possible discrimination may have occurred. On the other hand, if the offers were the same or close to the same amount, such things as the terms, your credit score versus those of the ultimate buyer, could have affected the seller's decision making. I would recommend speaking with your agent, his/her broker, and then go from there. You can certainly contact LIBOR or NY Dept of State to file a complaint if you feel it's warranted. Good luck in your home search and I truly hope your fears are not warranted.
Ralph Windschuh, Century 21 Princeton Properties, 631-467-0009... more
They get their 25% on the listing side only. The fact that you brought the buyer to your listing has nothing to do with them. If you didn't bring the buyer, all they would be entitled to is just the listing side. So, it is the same thing whether you brought the buyer or not, they only get the commission on the listing side.... more
Quite some time ago, you posted an inquiry on Trulia seeking real estate advice. If you are still considering purchasing or selling real estate or have any additional questions, please feel free to contact me. Please accept my best wishes for a very Happy Thanksgiving.
Ralph Windschuh
Associate Broker
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com... more