My fiancee and I would like to purchase a condo in Williamsburg. We both have excellent credit (can get PMI) and are looking for a two bedroom.
We also like Greenpoint. We love the neighborhood and have very steady employment. We qualify for 10% down co-ops (to 260,000) and can qualify for a FHA mortgage.
Chris:
Congratulations to you and your fiancee! You're execellent clients and hoping all goes well. Puchasing a co-op at $260K, I believe should be no probelm. However, there might be some probelms find a Condo at tha price. You may have to go up on your purchase price.
FHA loans are not applicable to Co-ops! Notwithstanding, they're to Condos. One advise, is to hurry up and make a purchase. If your combined income is about $150K and below,
Read: http://www.trulia.com/blog/pierreking/2009/07/home_prices_on…
and realize HOW IMPORTANT YOU ARE TO THE PROCESS:
http://www.trulia.com/blog/pierreking/2009/08/are_buyers_a_w…
Like the National Association of Realtors says, 'You Need A Realtor!" Interview at least three Professionals!
Good Luck!
Pierre King, Associate Broker
Weichert Realtors, H P Greenfield
Chris: If you're not already working with a realtor, I practice buyer brokerage which basically means I have been specifically trained to work with buyers on their behalf. If you'd like to discuss this or have any questions, please feel free to contact me.
Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
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