Financing in 11372 : Questions & Answers

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Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
Purchased coop in Jackson Hts 2002, $125,000. Mortgage $78,000 @ 6.375, 30 yr fixed. Appr 67,000 current principal. Is refinancing worth expense?
Basilo,
It would cost you approximately $5,000 to refinance. If you take Terry's figure of saving $166.82 per month, it would take you almost 36 months to recoup your cost. Jackso ... more
0 votes Share Flag Thu Dec 8, 2011 Financing in 11372
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
I need an investment mortgage to buy a sponsor unit in a cooperative apt in Queens. Which lender can help me? I have credit scores 730's.
Does the coop allow you to rent out before living in it? If so, I have private lenders who can do this.
0 votes Share Flag Sun May 15, 2011 Financing in 11372
Scott Butcher, Real Estate Pro in Austin, TX
Scott Butcher answered:
financing investment property
Yes you can. Talk to a local mortgage professional to get a better idea for loan pre-approval. Expect to put anywhere from 15-25% as a down payment and pay a slightly higher interest ... more
0 votes Share Flag Thu May 5, 2011 Financing in 11372
For Sale By…, Real Estate Pro in 11372
For Sale By Owner answered:
my bank loan was denied 1 week before closing. Reason given: the coop I wish to buy has a B plus plus
As a Jackson Heights co-op seller, I was sorry to hear this. Hope that it works out for you. Our board has never had this problem, but perhaps because the coop does not carry a mortga ... more
0 votes Share Flag Thu Nov 18, 2010 Financing in 11372
Sol, Other/Just Looking in 11372
Sol asked:
bank lost the proprietary lease, who pays the fees for the new one i'm refinancing. Bank lost the proprietary lease, now they want a new one. Who should pay for the fees.
0 votes Share Flag Wed Jul 22, 2009 Financing in 11372
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