I have 20k saved and looking to purchase my first co-op around Woodside,Flushing area in Queens NY. With

Newbbuyer
Home Buyer
Woodside, Queens, NY

gross income of 64k a year, can I afford *REALISTICALLY* a 1-bedroom co-op? The bank I ask for pre-approval gave me 225k tops in loan with 4.75% interest. Do I have enough money to afford a co-op? Thanks

Answers (4)
Anna Brocco
Broker
Williston Park, NY

Contact a mortgage broker and see what you actually qualify for; keep in mind both banks and co-op boards do care about income/debt ratio; without that information tough to answer your question. By the way pet ussues are decided by the building and not the seller as is maintenance.

Anna

Thu Mar 26 2009, 12:39
Newbbuyer
Home Buyer
Woodside, Queens, NY

Thanks for the response. I'm new to the entire co-op procedure and have been reading up on it. I understand that it depends on the seller when it comes to down payment and maintenance fees,pet restriction, etc..my general question I is what co-op price ranges can I afford generally? 125k?185k? Not sure how much it matters but i'm single w/o kids and have a stable income. I want to hear from recent buyer whether what I have so far is enough or do i need to keep saving(10k or 50k more?).
Thanks

Sun Mar 22 2009, 19:07

Co-ops in woodside run in your target area. But, you must
look at other expanses as tax and maintenance fee ect.
If you don't have an agent allow me to help.
If you have additional questions you can direct them to me.
My Direct # 347-813-1290.
Here is my website http://fajardodelacruz.realtors.officelive.com
or my e-mail delacruz.fajardo3@gmail.com
Hope to hear from you soon.

Sun Mar 22 2009, 17:30
Gail Gladstone,...
Agent
11743
FIRST ANSWER

The person you need to speak with is a mortgage broker. If you would like some referrals...I would be happy to provide several mortgage brokers/lenders with whom you can speak. Contact me at Gail@GailGladstone.com/

Web Reference: http://GailGladstone.com
Sun Mar 22 2009, 15:51

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 559
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback