Discover Your New Mortgage Options
Steve Tomaselli | Edge Home Finance | NMLS 358920
At Edge Home Finance, Steve Tomaselli brings 30+ years of mortgage expertise to help homebuyers in New Braunfels, San Antonio, Austin, and across Texas navigate the home loan process with confidence.
Whether you’re buying your first home, refinancing, or investing, Steve offers personalized solutions including FHA, VA, Conventional, and Jumbo loans.
NMLS ID: 358920. Equal Housing Opportunity.
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Bateman Finance Scenario Overview
Multi-Stage Mortgage Transaction - Fairhaven, MA
1. Refinance PITI (384 Main St)
Mortgage Amount: $527,000
Rate & Term: 7.500% Fixed, 30 Years
Total PITI Payment:
Calculating...
P&I Payment:
Monthly Taxes & Insurance: $525.00
Total PITI: Calculating...
Rental Income (Monthly Gross):
$5,000.00
Allowable Rental Income (75%):
3. Purchase Mortgage PITI (New Home)
Down Payment (5%):
Mortgage Amount:
Rate & Term: 6.99% Fixed, 30 Years
Total PITI Payment:
Calculating...
P&I Payment:
Monthly Taxes ($5,500/yr):
Monthly Insurance ($2,000/yr):
PMI (0.5% Est.):
2. HELOC (384 Main St)
Rate & Term: 10.50% Fixed, 20 Years
P&I Payment: Calculating...
*Assuming initial 20-year term fixed repayment schedule.
4. Debt-to-Income (DTI) Analysis
Based on the **Purchase Mortgage PITI** (Scenario 3).
Monthly Income from Employment:
Qualifying Net Rental Income:
Qualifying Monthly Income (GMI):
Housing Payment (PITI):
Rental Property Obligation (Loss):
Housing DTI (Front-End):
Total DTI (Back-End):
*Rental calculation per Fannie/Freddie guidelines: 75% gross rent netted against PITIA (includes Refi PITI + HELOC P&I). Positive net added only with experience.