Attention Realtors!
When guiding your clients through the home-buying process, it's crucial to understand the nuanced financial dynamics at play, especially regarding student loans. A mere $500 monthly student loan payment can substantially affect a potential homebuyer's purchasing power.
Consider this: When a hopeful homeowner is eyeing a dream property priced at $700k, that $500 student loan payment might be the obstacle diminishing their buying capability. The math reveals that this payment alone can reduce their pre-approval amount by a staggering $60k. Consequently, they'd look at homes priced around $640k instead of their initial $700k target. For many, this can mean compromising the home's location, size, or other vital features they've always aspired to have.
But here's the good news: There's a solution. By partnering with Scott Nicholson, your clients won't just receive generic financial advice. Scott specializes in structuring rate buy-downs and collaborates closely with LoanSense to restructure federal student debt skillfully. With these tailored strategies, the $60k buying power that seemed lost can be restored, bringing your clients back to their original $700k pre-approval range.
Empower your clients with knowledge and the right partnerships. Show them that the dream home they thought was out of reach might be achievable after all.