Home Buying in Harlem>Question Details

tencentice, Home Buyer in 10027

I am a veteran and an African American looking to purchase a 1-2 bedroom, 1bath condo or co-op in Harlem. Are there any deals for City Workers?

Asked by tencentice, 10027 Thu Jan 3, 2013

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Mitchell Hall’s answer
Hi Tencentice,

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.

http://nycblogestate.com/2011/10/hdfc-coops.html

Best,

Mitchell Hall
Senior Associate Broker
The Corcoran Group
347-921-4255
mhall@corcoran.com
http://corcoran.com/mhall
2 votes Thank Flag Link Sun Mar 3, 2013
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
Contact
Hello,

I am a Harlem Broker and would like to help you with finding the right apartment for you. Please contact me at 917-687-2046 for further assistance.

I look forward to working with you.
1 vote Thank Flag Link Thu Jan 3, 2013
Tencentice,
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.

Best,
Jenet Levy
Halstead Property, LLC
jlevy@halstead.com
212 381-4268
http://jenetlevy.halstead.com
1 vote Thank Flag Link Thu Jan 3, 2013
Depending on your income you may qualify for an HDFC co op. I happen to have a new listing which may meet your needs. Please check out 626 west 136 street in the 10031 zip code. Photos will be taken tomorrow and posted later this week. Please feel free to contct me if you would like more information or to view.
If that apartment doesn't fit your needs I would be most happy to discuss other options with you.
Michele Portnof
Senior Associate Broker
Rutenberg Realty
mportnof@crrnyc.com
0 votes Thank Flag Link Tue Jun 25, 2013
Thank you for your courgage and service, my brother is almost retired Army. I have a signed contract close to Fort Tryon Park, great area. It's the 190th stop on the A train, a straight shot, gut renovated apart, the usual 20% down. If you need less of a down payment then I can search other areas. To answer your question, yes there's inventory that will meet your needs. Feel free to contact me for all your real estate needs and once again God bless you for your service.


Tony Lara
Licensed Real Estate Salesperson
Charles Rutenberg Realty
127 East 56th Street, 4th Floor
New York, NY 10022
(212) 688-1000 x 435 (tel)
0 votes Thank Flag Link Thu Feb 7, 2013
I can help you with both 0 cost financing and finding the property. I have several for sale in Harlem. call me!
Shirley 313-408-1158
0 votes Thank Flag Link Sun Jan 6, 2013
Hello and Happy New Year. Thank you for your service. Be aware that your heritage will not impact a purchase. As a city worker, you might be part of a credit union and as a veteran you have a government guarantee that you can obtain a mortgage. Putting these two aspects together can work in your favor and you should talk with your credit union regarding a mortgage and your veteran guarantee.

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.
0 votes Thank Flag Link Thu Jan 3, 2013
Please call me. My name is Padmini and I can be reached at 347-903-6736 for assistance. Thank you and good luck.
0 votes Thank Flag Link Thu Jan 3, 2013
Our bank is owned by Veterans, we offer the best of the best for people who have served for our country. Please give me a call, we can discuss options and show you what can be offered!

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
email: krodgers@thefederalsavingsbank.com
web: http://www.thefederalsavingsbank.com/kieranrodgers
NMLS# 172254
0 votes Thank Flag Link Thu Jan 3, 2013
Thank you for serving. Take a look at the Naval Federal Credit Union for 100% financing options. Also, see if Wells Fargo offers their City Lift down payment assistance in your city. I do know that wells offers financing for Co-ops as well. Once again, thank you for serving and making a difference.
0 votes Thank Flag Link Thu Jan 3, 2013
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