Cory Thompson

Mid America Mortgage, Inc.

 

How Buying a Home With Someone You Are Not Married To Changes the Financial Conversation

Buying a home with a partner, friend, sibling, or other person can make homeownership possible sooner and allow two people to combine their financial resources. But when two people who are not married purchase a home together, there are financial conversations worth having before they begin looking at properties. A mortgage may be shared, but income, debts, savings, credit profiles, and expectations about ownership can be very different.

What Happens to Your Mortgage Options When a Home Does Not Appraise as Expected?

You have negotiated a purchase price, your offer has been accepted, and the mortgage process is moving forward. Then the appraisal comes back lower than expected. For buyers, that can be unsettling, but a low appraisal does not automatically mean the purchase is over. What happens next depends on the contract, available funds, financing, and what the buyer and seller are willing to do.

Why the Type of Property You Buy Can Affect Your Mortgage Options

When buyers start thinking about mortgage options, they often focus on their own finances: income, credit, debts, savings, and down payment. But there is another part of the equation that can be easy to overlook. The property itself matters. A traditional single-family home, condominium, manufactured home, multi-unit property, or unusual property may not be treated exactly the same when it comes to financing.

Recent Posts

Equal Housing Lender

© 2024 Legend Lending Corporation NMLS 229421 | Texas Recovery Fund Notice  | NMLS Consumer Access | Privacy Notice | Legal | Licensing

Our Location


Legend Lending
17047 El Camino Real Ste 150
Houston, TX 77058