Home Buying in Yonkers>Question Details

Jugu83, Home Buyer in Yonkers, NY

I see few studio aprtment listing around $50K in Yonkers area. Sounds very cheap. Is there any catch?

Asked by Jugu83, Yonkers, NY Sat Oct 12, 2013

what will be the typical monthly payment including everything (tax and monthly maintenance etc)?

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3
BEST ANSWER
That depends of the specific property.
What's the address?
0 votes Thank Flag Link Sat Oct 12, 2013
There are a few apts listed around $50k. Depending on what property you are asking about, it may have different reasons for the price. Some have high maint fee's, others are in distructive conditons, others, some are really really small spaces. Some require 20% down payments.

Monthly expenses will depend on the maint fee.

Before getting excited about these low priced co-op, I recommend you visit a bank and ask what is the minimum they lend for a mortgage loan, because I have found some banks do not process co-op loans for these low amounts of cash.

Good Luck! Any other questions, feel free to reach out.

Regards
Carmen Vega
Keller Williams Realty
Licensed Real Estate Sales Person
0 votes Thank Flag Link Mon Oct 14, 2013
It depends on the area that they are in. There are some areas in Yonkers and Mt Vernon that have dropped in value o er the past couple of yearsm. Keep in mind they are studios.

Chris
0 votes Thank Flag Link Sat Oct 12, 2013
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