Home Buying in Flushing>Question Details

Betty Chan, Home Buyer in New York, NY

1.My daughter and I want to buy a coop in flushing, can her income count on to buy if she is not in NY?

Asked by Betty Chan, New York, NY Sun Jul 7, 2013

2. Could it be her name on the title if her income is not count on ?

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5
BEST ANSWER
Condo, yes, but a co-op you might have a problem with. I've seen co-ops who do not approve buyers who are using income from a non-occupying co-borrower to qualify. We can also discuss this.

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Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
1 vote Thank Flag Link Sun Jul 7, 2013
I mean i don't use her income but only her name on the title. She would live in the COOP when she comes back to NY.
Flag Mon Jul 8, 2013
Condo should be ok, co ops are little tricky, rather you want to check with the management and get a clear answer.
0 votes Thank Flag Link Mon Jul 22, 2013
If you list your daughter as an occupant of the coop apartment, and that the coop apartment is her primary residence, then you can count her income.
0 votes Thank Flag Link Thu Jul 11, 2013
Please ask your Realtor to double check with the coop management office. Each office varies.
0 votes Thank Flag Link Tue Jul 9, 2013
Each co-op has their own rules, therefore check with management beforehand.
0 votes Thank Flag Link Mon Jul 8, 2013
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