Arelis, Renter in Bronx, NY

Hello, I am a Single mother who has just relocated from PA & am looking for a one bedroom apt with a possibility of a pet for my young daughter

Asked by Arelis, Bronx, NY Tue Jul 31, 2012

and I.

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7
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140
http://www.tcurranmortgage.com

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0 votes Thank Flag Link Tue Aug 20, 2013
Arelis,

Congrats on your relocation from PA, call our Office has an extensive rental department please call 347-202-4965, we will assist you with your Rental Search. We are open 7 days a week and have flexible and evening hours. Tell reception that you are looking for a pet friendly apartment.

Best of Luck,

Millie Valentin
Rental Specialist
Exit Realty Search
3928 E. Tremont Avenue
http://www.ExitRealtySearch.com
Web Reference: http://millievalentin.com
0 votes Thank Flag Link Thu Mar 7, 2013
Give me a call. I specialize in rentals. I can be reached at 917-566-4741.
Angela Esposito
Associate Broker
Keller Williams Realty
0 votes Thank Flag Link Fri Mar 1, 2013
Please contact our office DIGITAL REAL ESTATE CORP OF KELLER WILLIAMS REALTY NYC GROUP. @ 718-292-9819
0 votes Thank Flag Link Fri Aug 10, 2012
Arelis,

We have a huge rental department here at EXIT REALTY SEARCH, let me help. You can reach me at 646-957-4648.

Hope to hear from you soon!

Millie Valentin
EXIT REALTY SEARCH
3928 E. Tremont Avenue
Bronx, NY 10465
email:exitwithmillie@gmail.com
web-site: bronxwestchesterhomes.com
0 votes Thank Flag Link Wed Aug 1, 2012
Good Afternoon. You may consider Exit Realty in your search. We have many apartment listings to fit your location, budget and size requirements.

My name is Ar-Raheem Glover and I would be happy to assist you.
646-246-6459 call/text
rglover@exitrealtysearch.com

Have a great day, and good luck!
0 votes Thank Flag Link Wed Aug 1, 2012
Hello,
My name is Willam Garcia a rental agent here in The Bronx ill be more then happy to help you and your daughter into finding the right apartment. Feel free to give me a call @ 646.235.6634 Thank you

William Garcia
646.235.6634
Pantiga group INC
0 votes Thank Flag Link Tue Jul 31, 2012
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