Reaching out to the community to see if there are any good mortgage brokers in the Dallas area. My really good friend is a single mom and is looking to buy her first home but is struggling with high student loan debt and wants to find a broker that can help her understand her best options to home ownership.
There are lots of really good loan officers here in the "Dallas-Fort Worth" area. Bigger Pockets is more of an "investor" website but most loan officers are trained to help people purchase their own primary homes. And student debt has been a killer to a lot of people. There are some strategies to it...but not many. The three most important questions I want your friend to ask here is:
1. Should I be going FHA or Freddie Mac for my next home and why? (There are differences in these agencies and both are better than FANNIE MAE...so her loan officer should be able to speak to these differences and let her know which is superior to her scenario)?
2. How can I get around the "mandatory" payment that will be held against me with these agencies?
3. Is it better for me to buy now at a lower price point or buy later at a higher price point - and WHY?
Hope all of those make sense. Feel free to post anything else if you need. Thanks!
There are lots of really good loan officers here in the "Dallas-Fort Worth" area. Bigger Pockets is more of an "investor" website but most loan officers are trained to help people purchase their own primary homes. And student debt has been a killer to a lot of people. There are some strategies to it...but not many. The three most important questions I want your friend to ask here is:
1. Should I be going FHA or Freddie Mac for my next home and why? (There are differences in these agencies and both are better than FANNIE MAE...so her loan officer should be able to speak to these differences and let her know which is superior to her scenario)?
2. How can I get around the "mandatory" payment that will be held against me with these agencies?
3. Is it better for me to buy now at a lower price point or buy later at a higher price point - and WHY?
Hope all of those make sense. Feel free to post anything else if you need. Thanks!
Very helpful, @Andrew Postell. I will share these questions with her and she explores the best next steps for her situation.
Reaching out to the community to see if there are any good mortgage brokers in the Dallas area. My really good friend is a single mom and is looking to buy her first home but is struggling with high student loan debt and wants to find a broker that can help her understand her best options to home ownership.
Any help would be greatly appreciated!
Would be happy to review her scenario to see if there are some ways of shoring up her borrowing capabilities. With Student loans there are a lot of techniques to reduce that liability beyond just finding a coborrower or more down payment.
Reaching out to the community to see if there are any good mortgage brokers in the Dallas area. My really good friend is a single mom and is looking to buy her first home but is struggling with high student loan debt and wants to find a broker that can help her understand her best options to home ownership.