I am trying to help a client make the purchase of a home more affordable.
Credit: Middle Score 592 ( pulled about a month ago)
He is at the end of the buying process.
Purchase price $143,500
Apprasied July 2nd 2006 at $144,000
This will be his primary residence.
The house was built in 2004. The home Incpector told he there are a few minorthings but he would getting a well constructed home.
The property is located in the Brookfield Crossing/Glen subdivision in Pflugerville Texas.
Just started construction on a new Elem school about 2 blocks from the house. The Elem school will open next fall.
Chap 7 Bankruptcy discharged in November 2005
He has been with his current employeer (State of Texas) 18 months doing the same type work 13 years.
Regular Monthly paymets total $1,211
Current Rent $900 (same apartment 2 years)
Current Total Monthly $2111.00
Gross Monthly Income. $7020.00
I do not know anything about equity sharing or who participates in them.
Right now he is scheduled to close with a high rate 80/20 loan next Thursday.
I appreciate any guidance and advice you could offer me for my client.