Home Buying in Woodside>Question Details

Newbbuyer, Home Buyer in Woodside, Queens, NY

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

Asked by Newbbuyer, Woodside, Queens, NY Sun Mar 22, 2009

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

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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
0 votes Thank Flag Link Thu Mar 26, 2009
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
0 votes Thank Flag Link Sun Mar 22, 2009
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.
0 votes Thank Flag Link Sun Mar 22, 2009
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
0 votes Thank Flag Link Sun Mar 22, 2009
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