Property Q&A in Bronx>Question Details

Stephanie, Home Buyer in Bronx, NY

How much is the down payment?

Asked by Stephanie, Bronx, NY Tue Jan 5, 2010

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Dear Stephanie,

Viola is correct with the amount. It is common for most co-op and condo boards to ask for 10% down payment. My personal opinion is condo boards are a bit more flexible than coop boards. But each is unique in their own way. Some of the additional costs that you should keep in mind includes, maitainance, taxes and closing costs.

I would be happy to meet with you to discuss this and some additional properties in our area.

Good luck on your home search.

Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
1408 White Plains Road
Bronx, NY 10462
Tel.: 646-479-7873
0 votes Thank Flag Link Wed Jan 6, 2010
Good Morning Stephanie,

You have great taste!
The minimum down payment the co-op board requires on this particular property is 10%.
Keep in mind, in addition you will need closing cost and pass the co-op board review.

Congratulation on your decision to purchase property in today’s market, it's a great time to buy!

If you have any other questions, please feel free to contact me directly at 914-584-6683.
I'm an Associate Broker at Keller Williams Realty and will be happy to assist you.

Kind Regards,
Viola Taliaferrow
0 votes Thank Flag Link Wed Jan 6, 2010
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