Thank you for your brave service. As a city worker you may qualify for an HDFC coop or condo through HPD "affordable housing" programs for low and moderate incomes. I represent buyers and sellers of HDFC coops throughout Harlem. Many are city employees.
HDFC (Housing Development & Finance Corporation) Coops are affordable cooperatives in New York City. many are located in Harlem. An HDFC coop must be a primary residence and the income restrictions are based on area median income standards. In many cases either less than 120% or 165% area median income. Therefore individual HDFC coops have different income requirements.
Income Qualifications. Maximum income not to exceed 120% of AMI (Area Median Income) based on number of occupants. Income requirements are as follows: (2012 figures)
Individual - $ 69,720;
2 - $ 79,680;
3 - $ 89,640;
4 - $ 99,600
Maximum income not to exceed 165% of AMI (Area Median Income) based on number of occupants
for one person: $95,865;
for two: $109,560;
for three: $123,255;
for four $136,950
for five: $148,005.
Senior Associate Broker
The Corcoran Group
When you ask "are there any deals for city workers," I assume you mean any special kind of mortgages. No, the city does not offer any special mortgage programs for their workers.
The first step in your search for a co-op or condo would be to get pre-qualified by a lender. Then you will know how much a bank will lend you and what your true price range is. Then you should begin working with an experienced, knowledgeable agent who can take you through the steps of purchasing. It will save you time and money.
Halstead Property, LLC
If that apartment doesn't fit your needs I would be most happy to discuss other options with you.
Senior Associate Broker
Licensed Real Estate Salesperson
Charles Rutenberg Realty
127 East 56th Street, 4th Floor
New York, NY 10022
(212) 688-1000 x 435 (tel)
After the mortgage discussion, you will have a very good idea of what you can afford. from that point forward, it's a matter of finding something you like and where you want to live. I strongly recommend working with an experienced buyers broker to help you find a place and guide you through the purchase process. Good luck.
We also handle FHA or Conventional mortgages, VA is probably the best scenario for you, we can discuss !
Kieran Rodgers, Mortgage Banker
The Federal Savings Bank I 560 Broadhollow Road I Melville, NY 11747 I USA
direct: (631) 316-7272
fax: (646) 564-9421