PAYMENT SHOCK EXPLAINED
What is payment shock?
Ini Olu
Last Update 4 bulan yang lalu
NACA may require you to demonstrate that you can afford the future mortgage payment before you are approved.
Example:
If your rent is $1,200 and projected mortgage is $1,800:
You may need to show an additional $600 per month saved consistently.
This proves affordability discipline.
This requirement surprises many applicants.
Example:
If your rent is $1,200 and projected mortgage is $1,800:
You may need to show an additional $600 per month saved consistently.
This proves affordability discipline.
This requirement surprises many applicants.