Financing in 10003 : Questions & Answers

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Adina Greenb…, Real Estate Pro in New York, NY
Adina Greenberg answered:
Does anyone know of banks who will currently offer mortgages in HDFC buildings in New York City?
I am a bit puzzled by the answers from both banks. Wells Fargo told me months ago they don't do HDFC mortgages but told me Chase would if the financials are in good shape.
I have a li ... more
0 votes Share Flag Sat Oct 24, 2009 Financing in New York
Andrew Distad, Real Estate Pro in La Quinta, CA
Andrew Distad answered:
What are the advantages of buying a property with an LLC?
-THE FOLLOWING IS NOT LEGAL ADVICE; IT IS JUST OPINION-

Well, for starters you'd need a good paydex score and your fico score would be irrelevant unless there was a personal guarante ... more
0 votes Share Flag Tue Jul 28, 2009 Financing in New York
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
How accurate are the online 'how much house can I afford calculators'?
Contact mortgage broker it all depends on following:

a) Credit scores
b) Debt ratio
c) Employment history
d) Tax
e) Insurance
f) Closing costs
g) Amount of time for loa ... more
0 votes Share Flag Mon Jul 20, 2009 Financing in New York
Mike B, Real Estate Pro in Raritan, NJ
Mike B answered:
Does a Lender typically look at how much you have to put toward a down payment or how much you want to put?
Lenders look at your down payment, and your reserves after closing. I would be happy to pre-approve you and review your current situation. It sounds like either way you would not enco ... more
0 votes Share Flag Thu Jul 16, 2009 Financing in New York
Daniel Gersh…, Real Estate Pro in New York, NY
Daniel Gershburg, Esq. answered:
Are there advantages of having a cosigner if you don't have credit problems?
I think some people will differ on this but personally I think a cosignor is only necessary to help if you have poor credit. For the most part cosignors will not allow you to purchase ... more
0 votes Share Flag Tue Jul 21, 2009 Financing in New York
Bill Polack, Real Estate Pro in Atlanta, GA
Bill Polack answered:
Question about borrowing from 401k for down payment.
Uh. No. You are going to bank your retirement into a house hoping it will go up in value. You need to study the Rule of 72. That 10k or 100k investment will be doubling in value every 6 ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in New York
Diallo J. St…, Real Estate Pro in Elmhurst, NY
Diallo J. Stevens, CRS, CDPE answered:
what options and concerns regarding buying a property from owner financing vs. fha or conventional loan?
Hi Robert,

Great question!

Okay depends on the type of owner financing, but I'm going to assume you mean the owner will hold the mortgage and you'll make your monthly payments to ... more
0 votes Share Flag Mon Feb 15, 2010 Financing in 10011
Ruth Bonapace, Real Estate Pro in Hoboken, NJ
Ruth Bonapace answered:
Does anyone do mortgages for a seasonal home in New York?
Judith
Seasonal homes are fine (I own one with a mortgage on it upstate NY) but you need heat. I'd say it is worth it to put in something -- even electric baseboard that you will rarel ... more
0 votes Share Flag Wed Jul 15, 2009 Financing in New York
Deborah Endr…, Real Estate Pro in Westchester County, NY
Deborah Endres Camacho answered:
How do you get the best possible 30 year, fixed home loan? I already own an apt for 3 yrs now, but i want to
Dear Subrubangal,

Sounds like we need to determine if you qualify to refinance on your own, that way your fiance's credit will not impede you from obtaning the lowest rates pos ... more
0 votes Share Flag Wed Nov 18, 2009 Financing in 10001
Joe Greene, Real Estate Pro in 10463
Joe Greene answered:
Any suggestions of lenders for getting a great refinance rate on a Manhattan co-op?
Hi Rozonyc,

I actually suggest going with a reputable mortgage broker or a Non-Fannie Mae underwritten bank. They generally have all the same products as the individual banks, big a ... more
0 votes Share Flag Mon Jul 6, 2009 Financing in New York
Mike Stanley, Real Estate Pro in Riverdale, Bronx, NY
Mike Stanley answered:
We are thinking of selling our condo. We have lived her 18 months, due to the economy we will sell at a
Hello Melissa,

Speaking to your accountant about your particular situation is going to be the best soloution. Getting a general answer to a question such as yours may give you advic ... more
0 votes Share Flag Thu Jul 2, 2009 Financing in New York
David Zybin, Real Estate Pro in Brooklyn, NY
David Zybin answered:
How can I check on the legitimacy of an online mortgage lender if they don't have a Better Business Bur rpt?
See their licensing status with Department of Banking in the state.
At least you will know if this is a real licensed company.
0 votes Share Flag Sun Jun 28, 2009 Financing in New York
Bob McClure-…, Real Estate Pro in Walled Lake, MI
Bob McClure- Real Estate Investing answered:
Bank can't help me refinance.I started refinacing on april 21 with the lender naively thinking its gonna
good afternoon...i cannot make excuses for the bank......rates are up....however.if you have been paying for that long on a fifteen yr. loan and have a 6% rate......you have a fairly go ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in New York
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
I bought a home in Florida in late 2007 intending to move there but haven't been able to find a job yet.
Have you thought about leasing home till market turns around ? You also receive annual tax deductions confer with CPA

National Featured Realtor and Consultant, Mortgage Loan Officer ... more
0 votes Share Flag Thu Jun 11, 2009 Financing in New York
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
daughter want to buy coop for parents. Parents make $55k a year. Daughter$150K. whats best way to get mortgage
Being a co-borrower would be your best option in most cases. You would need to see if there is a rule in the coop that addresses this. A buyer agent who specializes in coops may have a ... more
0 votes Share Flag Wed May 27, 2009 Financing in New York
Joe Greene, Real Estate Pro in 10463
Joe Greene answered:
I have a question about obtaining a mortgage with 10% down. Is that still possible in the credit crunch?
Hi Smo,

You can still do 10% down, but you have to work with a Mortgage broker/Banker who will guarantee that. Banks will not do less than 10% on a co-op. That is absolutely true. ... more
0 votes Share Flag Thu May 28, 2009 Financing in 10128
Luis Fernand…, Real Estate Pro in Westchester, NY
Luis Fernandez answered:
cna anyone clarify for me (i) that certain lenders stopped lending and (ii) banks' new policy of taking an
i can point you in a direction of mortgage banker so you can get all thye answer. Guideliness change every day.
0 votes Share Flag Tue May 5, 2009 Financing in New York
Luis Fernand…, Real Estate Pro in Westchester, NY
Luis Fernandez answered:
what are current interest rates on a $700,000 mortgage?
I can refer you to a mortgage banker so they can give you the rates. It all depends on credit, income, and the daily rate. It chnages every day
0 votes Share Flag Wed Aug 4, 2010 Financing in New York
Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
I am looking to borrow no more than 65% of the ARV of a R E Property from a Hard/Private Lender at the going
Miguel Silva
718-809-4372 516-279-6130

Crystal Murray
212-937-8837
0 votes Share Flag Thu Apr 23, 2009 Financing in New York
Adina Greenb…, Real Estate Pro in New York, NY
Adina Greenberg answered:
I have a buyer who's not a us resident that needs financing for an apartment he bought in manhattan when the
I have a non us resident buyer who's having a mortgage with BOA through Joseph Kufner.
Try if he can help you.

Senior Home Loan Consultant
212-508-2261
Countrywide Bank, FSB

6 ... more
0 votes Share Flag Mon Apr 20, 2009 Financing in New York
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