Borrower experience ยท Demo

Your goal

Buy a home in Queens, NY. Everything below works backwards from that.

Target location
Queens, NY
Target purchase price
$625,000
Comfortable monthly payment
$3,800/month
Target timeline
6-12 months

Your path

Where you are today, and what would need to change.

Cash

Improving

Today: $24,600 saved

Needed: ~$36,000 for down payment and closing

Credit

On track

Today: 27% utilization

Needed: Under 30% utilization

Income / DTI

Improving

Today: $980 monthly debt

Needed: Under $900 monthly debt

Monthly payment alignment

Watch

Today: Comfortable at $3,800

Needed: $625K scenario runs closer to $4,150

Your next actions

Three things that move the goal closer.

  1. 01

    Reduce Chase balance by $1,800.

    Why: This would reduce revolving utilization, one of the biggest issues currently affecting your plan.

  2. 02

    Add $500 per paycheck to your home fund.

    Why: At the current pace, additional cash reserves are one of the largest remaining gaps.

  3. 03

    Review $275/month of recurring expenses.

    Why: Reducing monthly obligations could improve cash flow available for the target housing payment.

4 of 5 current actions completed.

Your homebuying team

A

Andrew

Mortgage Advisor

Mentra is helping you work toward your homeownership goal between conversations with Andrew.

Milestone reached

You have reached an important milestone. It may be a good time to reconnect with Andrew and review your updated numbers.