Your first step in your homebuying process should be to meet with a loan officer. They can determine how much real estate you can afford based. After that, you will then have a number and that will give you a better perspective as to how much you can afford. I would urge you to then hire a real estate agent to represent you as a buyer (you do not have to pay a fee in NY unless otherwise agreed to), since the listing agent represents the best interests of the sellers. There are several Coops for sale in Rego Park. You will need to narrow your selection based on price, amenities, maitenance, etc.
Please give me a call if you would like to discuss further.
Licensed Real Estate Agent
Cruse Realty / Cruz Network of Realtors
If you need a loan officer, I am always available to meet at one of our Queens locations.
Senior Loan Officer
Sterling National Bank
As a side note, Rego Park is priced a bit lower than the neighboring Forest Hills. You should be able to find something reasonable there. I wish you all the best.
1- Debt/ income ratio
2- credit score/ credit worthiness
3- savings/ reserve fundings