Furnished rentals in this part of the south shore are few and far between. Adding to that a seasonal rental pushes it further down the funnel of rental options. If you let me know what kind of space you're needing, there might be an unusual situation that possibly could work for you. It is not, however, waterfront.
A second possible solution could be getting an unfurnished rental and getting rental furniture for the period of time you need it. I deal with these companies all the time as a real estate agent/stager and you can wind up with a great look.
Another furnished short term rental might be one of the residence hotels on Long Island. If you need more detailed information, just let me know.
Absolutely! The property will be appraised the same regardless of having a gift of equity or not. Gift of equity is great in that it'll offset any or all money you'd need for downpayment and closing costs, depending on how much equity is available. You do not necessarily need 20% of the equity based on the contract price, as long as the loan amount is 80% of the appraised value, you'll be able to waive the need for mortgage insurance. The contract sales price is not going ot necessarily be the same as the appraised value, as appraisals is done after the sales contract is executed.
What I would do is speak to our appraisal management company and have them get a ballpark figure from their appraisers in rotation so that I can give all parties involved a good idea of what the true value is. This way the deal gets structured the right way from the very start. If you need a reliable Loan Officer, I am always available to meet face-to-face in our Woodbury office. Good luck!
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
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Thank you. I realize there are good and bad people in every line of business. I just seem to keep finding the bad realtors. I have had multiple buyers agents working for me, but inevitably I catch them in lies or some other issue pops up where I move on to another agent, and so on. This is just my experience (and many of my friends' as well) and I am sure there are good honest agents out there, I just haven't found them yet. Thanks to everyone, and LIBOR should fix this issue as I am sure I am not the only one who is confused by this. Try calling LIbor and they don't even know why the form says this, they shouldn't disseminate forms even they don't understand.... more
Actually the best answer is to check with the lender on your next purchase, if they are using the same closing attorney there is nothing wrong with leaving it in his escrow account, although it is a little unusual. If your new lender is using a different closing attorney then the first one should either give you a check ASAP or wire it to the next closing. Your new lender needs to source the funds you bring to the next closing so ask your loan officer how to handle it. Good luck,... more
FHA loans are quite common place since they still offer assistance with closing costs and have much lower down payment requirements that many conventional loans. If you were preapproved by a major bank or financial institution, they already ran your debt to income ratio with the information you provided them. They are required by law to provide you with an estimate of your costs and what your monthly payments would be. If and when you're ready to look at houses on Long Island, please feel free to contact me.
Certified Buyer Representative
Century 21 Princeton Properties
Wantagh is nicknamed the "Gateway to Jones Beach" It's actually the last exit off the Wantagh Parkway before crossing over to beach side. Its a wonderful community with 5 Star schools, an awesome town pool, a gorgeous community park, and a marinia. The residence have a pride of ownership, and a real sence of community. The location is great for commuters as there is a centrally located LIRR train station, and is bookended by the Wantagh Parkway and the Seaford Oyster Bay (AKA135) making travel into and out of Wantagh a breeze. There are also several well know restaurants, and boutiques. Lastly there is the LIRR train musuem where not only can you tour the train on a Summer afternoon, but several other town events are held on the park like grounds. Wantagh is a great place to visit, and an even better place to live!!... more