Joe, Home Buyer in Brooklyn, NY

I need a 2 br condo with parking in either bay ridge or dyker heights. Need mortgage payment to be under 2k a month. Have good credit

Asked by Joe, Brooklyn, NY Sat Dec 14, 2013

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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, therefore if you haven't done so yet, visit with any licensed loan officer before embarking on your search; also choose an agent to work with, he/she will be your best guide....
0 votes Thank Flag Link Sat Dec 14, 2013
Dear Joe:

Assuming you are a qualified buyer with good credit, verifiable income & assets and... if you are going for a 30 year fixed mortgage, based on today's rates you would be paying $5.22 per thousand you borrow (4.75% 30 year fixed mortgage). Hence, if you want you mortgage payment to be less than $2,000 per month, the most you would be able to borrow would be $383,000.00. If you add your down payment onto that, you will have your maximum purchase price. Keep in mind that you will also have to pay the monthly common charges for the condo along with real estate taxes, insurance and your utility bills.

Given that you are looking in Bay Ridge or Bensonhurst, right now there are four 2-bedroom condos with parking listed on the Brooklyn New York Multiple Listing Service. They range in asking price from $449,000 up to $659,000. If you could live without the parking space you would have a 14 additional 2 bedroom condos you could look at.

The most important first step is for you to go and get yourself pre-qualified for the mortgage and then go looking at these condos to see if one or more of them would appeal to you. If you need assistance with any of that, feel free to contact me direct as I can help you. Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Sat Dec 14, 2013
Mitchell, thanks so much for your quick & informative reply. I'm going to get pre-qualified this week & then start looking into these condos. Do you have a list of those 2 bedroom condos with pics, sq. footage, etc..
Flag Sun Dec 15, 2013
Good Day Joe - I am holding an Open House on Sunday, 12/15 from 1pm - 3pm on an apartment that may fit your criteria. Please contact me for details. Thanks, Charles
0 votes Thank Flag Link Sat Dec 14, 2013
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