Mia would like to purchase a specific home and knows that she can afford the home, but her income is slightly lower than the amount needed to qualify for the mortgage. She is a waitress and makes much of her income from tips and she can exaggerate her estimated income. Should she increase her estimated income on the mortgage application?
Answer to relevant QuestionsDenise and Kenny are ready to make an offer on an 1,800- square- foot home that is priced at $ 135,000. They investigate other homes on lots of similar size and find the following information: • A 2,400- square- foot home ...Matt has found a condominium in an area where he would enjoy living. He would need a $ 5,000 down payment from his savings and would have to pay closing costs of $ 2,500 to purchase the condo. His monthly mortgage payments ...Brad’s uncle has offered to provide him with a loan for the closing costs and the down payment needed to purchase the condo. Brad exclaims, “This is great. I don’t even need a loan contract!” Advise Brad on the ...What is homeowner’s insurance? How the premiums are normally paid? What is the purpose of an umbrella personal liability policy? Who might need one?
Post your question