Rentals in Bensonhurst>Question Details

Jay, Renter in Brooklyn, NY

Looking for a 1 or 2 bedroom apt. Bensonhurst, Dyker Heights, Bay Ridge. $1200 max budget

Asked by Jay, Brooklyn, NY Wed Nov 28, 2012

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This question was asked from this property: http://www.trulia.com/rental/3101816294-Apartment-Brooklyn-N…

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6
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

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Aug 20, 2013
Jay,
I have a 1 bedroom apartment right off shore parkway and 18th ave a beautiful tree lined street with view of the bay. Owner will accept $1200.

Greg Donato
347-860-5819
Facilitate Realty
http://www.facilitaterealty.com
0 votes Thank Flag Link Fri Apr 26, 2013
i have a 2 bedrms for rent on 17 ave near bath ave $1200 if you interested in it please contact me


Thanks
New Century realty group
agent Heidi Cheung
917
-596-5789
0 votes Thank Flag Link Mon Mar 4, 2013
Hello....Hope you are having a great day! I have a 1 bedroom in Sheepshead Bay Area. Please give me a call if interested.


Thank you!
Maria
Keller Williams Realty Empire
Direct: (646)937-0979

Looking forward to helping you find your apartment!
0 votes Thank Flag Link Tue Feb 26, 2013
This will be difficult to find, but possible. Make sure you deal with a reputable real estate agent. Never pay any funds before you get to see an apartment. If you want, I would be happy to assist you.
0 votes Thank Flag Link Wed Nov 28, 2012
Call or email me-I have few nice apts left.
0 votes Thank Flag Link Wed Nov 28, 2012
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