On a co-op, the guarantor must have annual income of at least $90,000 and marketable or income producing assets of at least $250,000 plus the manor purchase price.
On a condo, the guarantor must have annual income of at least $72,000, and marketable or income producing assets of at least $200,000, plus the manor purchase price.
In addition, Members who purchase a replacement manor do not have to re-qualify financially for membership, if there is no change to the membership vesting and the previous manor is already in escrow.
I have been told that to bridge the gap in the income requirement , that you could purchase an annuity to provide the cash flow to qualify on your own!
Also, you could ask Carolyn Behrens of Behren's Capital for her solution at 949-916-9282 to the question or Stacy Cope of Homestead escrow at 949-614-8100 or any available escrow officer, same #.
Don't be discouraged, there are various solutions to the question!
I am available to show the various homes available! phone me at 949-697-7881.
When working with me as my client, with specific questions, I can ask the PCM mgmt. co. lead person to assist us!