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I have my tax return in the bank I want to borrow $150000.00 frm my bank for a coop purchase. Can I?

Thu Mar 20 2008, 17:30 - Clifton - Financing - 5 answers
 
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Linda Wilk...
Just Looking
in Brooklyn
Linda Wilk..., Just Looking in Brooklyn in Brooklyn
Answers (5)
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Gail Gladsto… was FIRST TO ANSWER
Hi Linda,

I would suggest that you speak to a mortgage professional. Many lenders require that your closing costs or down payment be (seasoned) in the account for three months or longer.
I regard to a Coop purchase, many times they have restrictions and down payment requirements. Some require 20% or a 30% down payment and mortgage reserves. They are all not the same they have different requirements and restrictions.

A.T. REAL ESTATE SPECIALISTS LLC
Arlene Trunzo, CRS,GRI,SRES / Broker Owner
(BCREP) Board certified
718-317-0949 0R 917-359-1985
cmyrealtor@aol.com

Sun Jun 29 2008, 09:41
Web Reference: http://atrealestatespecialists.com
 
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wait
cheaper next year

anyways

good luck

Tue Apr 1 2008, 09:36
 
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These days Credit counts more than ever. Several banks are tightening their ratios and not "giving away" mortgages anymore. With good credit and a decent down payment you can have your pick of the litter. It's a buyers market now and sellers are more willing to negotiate.

Mon Mar 31 2008, 20:08
 
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Depending on the amount of the tax return and the total price of the co-op. Let me know if i can help, i am a Reator here on Staten Island. You can follow the link below.

Thu Mar 20 2008, 19:27
Web Reference: http://www.Realestatesiny.com
 
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FIRST ANSWER
It depends on your credit and a lot of other things. I can recommend a mortgage professional to work with; contact me offline at Gail@GailGladstone.com and I will be happy to make the recommendation.

Thu Mar 20 2008, 17:49
Web Reference: http://GailGladstone.com
 
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