A Freddie Mac example
Under an applicable 180-month calculation, $500,000 divided by 180 equals about $2,777 per month before required deductions and eligibility adjustments. Confirm the current guide for the loan.
Not every dollar counts
Funds needed for closing, reserves, taxes, penalties, borrowed funds, retirement access, and ineligible asset types can reduce the amount used.
Documentation matters
Ownership, account history, valuation, liquidity, continuance, and source may need verification.
Revisit the options
Borrowers with significant assets and limited traditional income may benefit from a new review, but the current program and complete calculation must support it.
Your next step
Let’s talk about what this means for you.
You do not have to figure out every mortgage detail on your own. Tell me the goal and we can work through the questions.
Ask Marta a question