Financing in 11226>Question Details

Halina Marki, Home Buyer in Brooklyn, NY

Is anyone lending for new construction in Brooklyn that is 30% in contract, 35%down, 800 credit score? If so what % interest and how many points?

Asked by Halina Marki, Brooklyn, NY Tue Nov 9, 2010

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Hi Halina

I have heard that met- life bank has been pretty helpful with new contruction loans.
1 vote Thank Flag Link Thu Jul 21, 2011
I can recommend a mortgage bank that may be interested in looking at your situation. Give me a call (347) 207-3868.
0 votes Thank Flag Link Fri Feb 11, 2011
No, not that I'm aware of. 50% pre-sale is the benchmark to obtain conventional (fannie mae/freddie mac) or government (fha) financing.

I would advise you to be very cautious when considering purchasing in building where 30% of the units are under contract.

Thanks,
Andrew
0 votes Thank Flag Link Mon Dec 6, 2010
Hard Money only. Interest 12 to 14%, with points. Depends on the risk to the Lender. Interested? Call 718-339-8800, ask for Jacob Shayovitz.
0 votes Thank Flag Link Mon Dec 6, 2010
Usually the developer has a deal with a bank. Have you asked?
0 votes Thank Flag Link Thu Nov 11, 2010
If you need loan officer recommendations feel free to contact me directly.
0 votes Thank Flag Link Wed Nov 10, 2010
Feel free to contact me for a list of Mortgage Brokers.

Lamar Collins
lamarc2000@aol.com
http://www.DistressPropertiesForSale.com
718-484-4563
0 votes Thank Flag Link Wed Nov 10, 2010
Call Dominick Sutera of Academy Mortgage at (516) 249-4800 x 223. He will find what you need.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Tue Nov 9, 2010
Hi Halina
Its possible if you send me your direct email i will give you some names tomorrow to contact
madelinepadovano@fillmore.com
0 votes Thank Flag Link Tue Nov 9, 2010
Your asking a plumber what the TV repair man charges...Your best bet is to go to your local bank and talk to the loan specialist.
0 votes Thank Flag Link Tue Nov 9, 2010
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