SBNY94, Home Buyer in New York, NY

which bank finance HDFC apartments?

Asked by SBNY94, New York, NY Mon May 7, 2012

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Answers

8
A more practical answer, any agent or yourself or myself if you want me to, can go into Acris, the city register's website were all deeds and mortgages are recorded. Enter the block and lot of the building and search for documents recently registered for that building. Simply look at the banks doing the financing recently and apply to them? Takes 5 minutes. LInk here:

http://a836-acris.nyc.gov/Scripts/Coverpage.dll/index

Manuel Vargas
Lic. Broker Associate
Bachelor of Science in Real Estate, NYU, Magna Cum Laude
Vice President, Prudential Douglas Elliman
18 years of Real Estate Experience in NYC
917-559-2002
Manuel.Vargas@Elliman.com
1 vote Thank Flag Link Tue May 8, 2012
The agent representing the apartment/building needs to do some foot work here. Better to get the building vetted with a handful of banks so it makes life a bit easier for the buyer. However, the consumer can try and do the same thing but it will come down to getting the agent to do some assisting here as the bank will have it's "check list of wants" to get the building approved.

Nick Rafello, SVP
Associate Broker
The Corcoran Group
RAFELLO ROSENBLOOM TEAM
646-221-8321 cell
212-444-7852 office
1 vote Thank Flag Link Mon May 7, 2012
Very useful. Thank you all! I'll do that.
0 votes Thank Flag Link Tue May 8, 2012
My cap it tipped to Nick Rafello and Adina Greenberg, as they are both highly respected professionals in the New York City real estate business. I would have to say with the two HDFC building apartments that I have, that Chase Bank and Justin Keesey, Senior Loan Officer, has approved the buildings that I have at 7 West 92nd Street and at 504 West 135th Street, each an HDFC Coop, and each with its own identity and rules to have satisfied by the bank.

In my experience, the Bank may be able to make the loan happen, but it's also a function of the banker who is doing the loan.

All best wishes !!!
0 votes Thank Flag Link Mon May 7, 2012
I have 4 listings in an HDFC building, both Citibank and BofA approved the building after submitting a lot of documents, financials and questionnaires. Chase bank in the past approved the same building and I am working with them to have the building re-approved.
0 votes Thank Flag Link Mon May 7, 2012
Thank you all! If I asked it is because 3 major banks denied an apt I like with good financials because it was a HDFC. Since most of the apts in NYC I like and can afford are HDFC...
0 votes Thank Flag Link Mon May 7, 2012
In addition to what Nick Rafello wrote below, Citibank, Bank of America and Chase bank finance HDFC buildings under certain conditions of course.
0 votes Thank Flag Link Mon May 7, 2012
Great question, Sylvaine!

Having experience with HDFC buildings, I would say that your best bet would be to speak to an agent or a mortgage broker familiar with the building, since each one is different. Ideally, a co-op board member would be able to tell you which lenders have financed recent sales in the building.

Hope that helps.

Best regards,
Bruno


Bruno J. Navarro
Licensed Real Estate Salesperson
BOND New York Properties, LLC | 1776 Broadway, 19th Floor | New York, NY 10019
347.725.0944 mobile | 212.804.8948 direct | 270.675.9195 fax
bnavarro@bondnewyork.com
http://NYCApartmentAgent.com
0 votes Thank Flag Link Mon May 7, 2012
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