Yea that doesn't make sense. No way a household earning 110k qualifies for a 800k mortgage. Zero chance they do on an insured purchase (less than 20% down) as there are no exceptions. They wouldn't have qualified.
MAYBE a bank made an exception on ratios if > 20% down, but that would be a huge exception, so I doubt it. Maybe he qualified with an alternative lender? But they typically don't do variable rates, so that doesn't make sense either. Maybe he did it through a "net worth" program?
I dunno, but something ain't right with that article. Full disclosure - I didn't read the article. Only the headline.
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