Licensed Real Estate Agent
Certified Cartus Relocation Specialist
Bond New York Properties LLC
1776 Broadway 19th Floor
New York, NY 10019
Office: 212 582 2009
Mobile: 917 678 4164
Fax: 646 666 2395
Bond New York can assist your friends and family anywhere in the World including the U.S., Canada, PR and the U.K. We are members of the largest Relocation Network in the nation. Contact your agent today to find out more.
In NYC most buildings (70/75%) are cooperatives. FHA does not give loans in coops. The remaining apartments in NYC are in condos. Most condos in Manhattan give the condo board "first-right of refusal" in their bylaws. Because "right-of first-refusal" is a restrictive covenant FHA does not loan in condos with restrictive covenants such as right of first refusal.
There are some, mostly new development condos that have been approved for FHA loans. Regardless of down payment amount, a 10% deposit is usually required at contract signing for most real estate transactions in NYC.
Licensed Associate RE Broker
The Corcoran Group
FHA has maximum loan amounts and approved condos.
Your real estate broker can help guide you after you've been pre approved by a mortgage broker.
I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.
Wishing you all the best,
De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!