Home Buying in Yonkers>Question Details

brownanthony…, Home Buyer in Queens, NY

Hi, My current lease will be up in March of next year. Right now my credit score is a little over 730. Should I be lookin?

Asked by brownanthony703, Queens, NY Sun Sep 29, 2013

Help the community by answering this question:

Answers

11
I would talk with a mortgage broker/lender now to make sure you are able to buy. 730 is a very good credit score, so hopefully you won't have any problems there.

The normal real estate transaction takes 30-45 days to close. Looking right now (5 months early) may be too soon in my opinion. I'd wait until January to start physically looking, while keeping an eye on things online until then.

I'd also contact a Realtor now to help you get set up with your online search.

Good luck!
1 vote Thank Flag Link Mon Sep 30, 2013
If you are looking to purchase, yes you can begin now by visiting with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; also choose an agent to work with....
1 vote Thank Flag Link Mon Sep 30, 2013
It takes about 180 days to close on a house in Yonkers. Coops can take as much time or more depending if you finance or if you need board approval. Sitting at a computer isn't looking. Here are the things you need to start looking.

1. Deposit money sitting in a real bank account for 60 days.
2. Pre-approval from a real lender who started underwriting
3. Clear list of areas you are considering. Area you have visited.
4. List of "must have" amenities and "would like" amenities.
5. Kick ass realtor who is experienced and professional.

So...should you be looking? If you need assistance...@AskReynet.

Visit AskRey.net for 100% of the MLS Listings!

Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrence - Bronxville

Direct 917-855-0277
rey@askrey.net
Web Reference: http://AskRey.net
1 vote Thank Flag Link Mon Sep 30, 2013
Yes, it may take time to find the right type of property you are looking for. Its good to start looking now and if you find something its great to lock-in the mortgage rate.
0 votes Thank Flag Link Mon Sep 30, 2013
"NARA"
Narasimhan Narayanan
Licensed RealEstate Sales Agent NY,
Keller Williams Realty NYC Group,
2300 Eastchester Rd,Bronx, NY 10469.
Mobile- 646 286 1120
http://www.nyre.kwrealty.com
Email - nyre@kwrealty.com
Flag Mon Sep 30, 2013
Best place to start is to hire an Exclusive Buyer Agent to represent you. EBAs represent home buyers only, and work to get you the best price and most favorable terms. You can go to NAEBA.org for a referral to an EBA in your area.

I'm an EBA and I wrote a book called "Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best $6 you've ever spent. Follow the link below.

Best of luck!
0 votes Thank Flag Link Mon Sep 30, 2013
What you should be doing before anything else is to get a full pre-approval. Only then should you be even thinking about it.
0 votes Thank Flag Link Mon Sep 30, 2013
Absolutely but just to get an idea of the marketplace. Unless you are buying a Short Sale of foreclosure a decision should be made in 45-90 days. Thinking about Rockland County at all please get in touch!
0 votes Thank Flag Link Mon Sep 30, 2013
Absolutely. Especially if you are unfamiliar with the area. A good, local Realtor who will act as a buyer's agent and is acting in "Your Best Interests" is the way to go. (A listing agent is required to work in the seller's best interests)

If the government shutdown occurs tomorrow, Mortgage commitments will take MUCH longer and will delay any home purchase. In addition, all new Federally funded loans will be on hold.
Best of luck with your new home purchase,

Bob Granata
0 votes Thank Flag Link Mon Sep 30, 2013
It takes 60-90 days to close on a property..coops can take a little longer and also less time depending on the board.

Chris
0 votes Thank Flag Link Mon Sep 30, 2013
Hi, your credit score is great. If you have good income and some money in reserves then you should definitely look to buy. The first step is too get pre approved for a mortgage so you know what a bank is willing to lend you. There are many different loan programs you may be qualified for or interested in. I recommend Christian Babcock from Mortgage Master Inc 914 447 9691. If you want to discuss your options for a home and how the process works, feel free to message or call me direct.

Christopher Pagli
Accredited Buyer Representative
914 406 9023
0 votes Thank Flag Link Mon Sep 30, 2013
Definitely. The earlier you start looking the better.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Mon Sep 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer