Making Homeownership Dreams a Reality: Charles' Success Story
Overcoming Obstacles on the Path to Homeownership
The Frustration of an Inaccessible Downpayment
- Charles, a motivated first-time homebuyer, had been diligently saving for his dream home.
- Despite his efforts, his downpayment fell short of the $80,000 needed to secure his ideal property in a restricted market
- Thankfully, his parents Martin & Elaine generously gifted him $60,000 to bridge the gap and fulfill his homeownership aspirations.
- However, when Charles approached another lender, his income alone did not meet the strict qualification criteria for the mortgage he desired.
A Partnership that Transformed Charles’ Journey
Enter nesto. Here’s how we helped:
- We immediately offered Charles a low-rate guarantee, ensuring he could afford the mortgage terms right from the start.
- More than 40% of first-time homebuyers said they leaned on their families to help them, with 19% saying they still receive help with mortgage payments*.
- Leveraging the income of Charles’ working mother as a co-signer, nesto successfully qualified Charles for the mortgage he had longed for.
- If the parent contributes >50% income and/or downpayment – lender wants them as a co-signer (on title).
- If <50%, they are a guarantor for their credit worthiness. If the parent contributes >50% income and/or downpayment – lender wants them as a co-signer (on title).
- The process was not only efficient but also simplified, eliminating the stress and confusion often associated with traditional lenders.
Opening Doors to a Bright Future
- Thanks to nesto’s unwavering commitment to its customers, Charles and his family were able to overcome the hurdles that previously stood in their way.
- By offering a low-rate guarantee, expert guidance, and simplified processes, nesto ensured Charles could secure his dream home and build a prosperous future.
- If you, like Charles, are eager to embark on your homeownership journey without unnecessary obstacles, nesto is here to help.
Start Your Homeownership Journey Today
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