Financing in 10014 : Questions & Answers

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Joseph Hasti…, Real Estate Pro in Bayside, NY
Joseph Hastings answered:
Can I get a mortgage on new York property as a non-us citizen, foreigner?
Hello Benny. You need help. If you are looking to purchase investment property, you will certainly need the help of a licensed Real Estate professional. Do you plan to visit and look at ... more
0 votes Share Flag Wed Feb 4, 2015 Financing in New York
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Is mortgage match a reputable company?
Mortgage Match is a d/b/a of Cornerstone Mortgage Company, see:
https://www.mortgagematch.com/company/disclosures.aspx

It appears they do not lend in NY, but instead they make the l ... more
0 votes Share Flag Mon Jun 6, 2011 Financing in New York
Ruth Bonapace,  in 07030
Ruth Bonapace answered:
We live and have a successful business in Australia. We are wanting to move and to purchase an apartment in NYC. How best should we go about it? Thank
The first step is to assemble a reliable team to help you. I know a lawyer who works almost exclusively with nonAmericans buying property in NYC. She can give you valuable advice before ... more
0 votes Share Flag Tue Nov 8, 2011 Financing in New York
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
We are looking to put 10-12% down (or more for an FHA) on an 810,000 condo in NYC, what are our realistic financing options including 80/10/10 or PMI?
The handling of mortgage insurance coverage for purchase transactions with a property address in the state of New York are handled differently than the rest of the country. For New York ... more
0 votes Share Flag Sat Jun 4, 2011 Financing in New York
Therese L Ko…, Real Estate Pro in Bayside NY 11361, NY
Therese L Korahais answered:
Hi, My husband and I bought a brownstone in cash in Brooklyn, NY and looking for a lender who can gives us min. of 200k to help supplement renovation.
Hi Jaz, why not try an equity line of credit? no closing costs minimal fees.. Where you do your banking- talk to them. Rates are a little higher than a mortgage but your not going to p ... more
0 votes Share Flag Mon May 30, 2011 Financing in New York
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
I am a non-resident living in the US (E2 visa). What will be my minimum down payment & interest rate when buying a home.?
As for down payment, much will depend on the price of the property and type of loan; therefore visit with any qualified loan officer, regarding mortgage qualification; be aware that a m ... more
0 votes Share Flag Wed Jun 1, 2011 Financing in 10030
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Can you take on a 30 yr fixed mortgage and move easily to a 15 year in a year or 2? can you also make repayments easily? what are the fees involved?
You can always make more than the minimum required payment (the 30-year amortized payment on a 30-year term is just the minimum required payment) - so you can turn your 30-year mortgage ... more
0 votes Share Flag Tue Jun 7, 2011 Financing in New York
Tony Lara,  in New York, NY
Tony Lara answered:
I'm an American abroad (6 yrs). Have kept up US credit history, but only earned money overseas. What's my best bet for a mortgage?
You best source is to contact a mortgage broker, Patricia Lavigne of Manhattan Mortgage,she's at plavigne@manhattanmortgage.com or 212-745-9012, I hope you've been paying U.S ... more
0 votes Share Flag Mon May 30, 2011 Financing in New York
David Burnham,  in Washington, DC
David Burnham answered:
im separated from my husband and i a friend ask me to go on a mortgage for an apartment in nyc, does my husband gets part of the apartment ?
In New York, you can write the deed so that he will not get part of the apartment. Consult a title attorney for more details.

This is not true in all states. A few states have commu ... more
0 votes Share Flag Tue Nov 1, 2011 Financing in New York
Mitchell Hall, Real Estate Pro in New York, NY
Mitchell Hall answered:
Will anyone refinance an investment coop apartment in Manhattan?
An investment coop? most coops are not investor friendly. They usually require the shareholder to be a primary resident or they may allow pied-a-terre. They usually have sublet policies ... more
0 votes Share Flag Fri Oct 12, 2012 Financing in 10019
Gail Gladsto…, Real Estate Pro in ,
Gail Gladstone answered:
Both our name are on the deed & mortgage but we are refinancing and only he will be on the mortgage will I be taken off the deed??
No, your name does not come off the deed just because you are not on the mortgage. You can confirm this with your attorney and/or your mortgage broker/banker.
0 votes Share Flag Thu May 12, 2011 Financing in New York
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
How to finance an investment property in Queens. I'm looking to borrow about $120, 000.
Have you visited/consulted with any qualified loan officer, local bank, etc....
0 votes Share Flag Tue May 17, 2011 Financing in New York
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
How easy is it to mortgage a duplex or triplex in NY after I buy it for cash, and typically whats the max LTV? Can I do this immediately after buying?
MArtin the first problme to overcome is that alont of banks have seasoning, that means they require a certain amount of time to go by form when you close to when they will refinance you ... more
0 votes Share Flag Wed May 11, 2011 Financing in New York
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
can I mortgage my coop apartment (it's an HDFC apt. in the East Village,NYC)
Unclear, are you looking to purchase or do you already own...consult with any qualified loan officer....
0 votes Share Flag Fri May 13, 2011 Financing in New York
Ruth Bonapace,  in 07030
Ruth Bonapace answered:
Hi, I am looking for an FHA lender or FHA mortgage broker that works in the Hudson Heights area in Manhattan. Thank you in advance for your time.
I have been doing FHA for many years, even before it became popular. Let me know what your scenario is and I'll give you an idea of your options.
Ruth Bonapace
Bank of America Ho ... more
0 votes Share Flag Tue May 10, 2011 Financing in 10040
Christopher…, Real Estate Pro in Westchester, NY
Christopher Pagli - ABR, GREEN answered:
If a seller tries to obtain a loan for the buyer due to the mortg contingency, who does the lender work 4? Who is the client-confidentiality between?
Hi, Typically if a buyer is working with a loan officer the confidentiality is between the buyer and the loan officer. I'm not sure I understand your question "the seller tri ... more
0 votes Share Flag Thu Apr 21, 2011 Financing in 10001
Aaavini,  in New York, NY
Aaavini answered:
I make 60k/year, am 25 years old and have 200k for a down payment. Can I reasonably get a mortgage for 100-150K for an NYC coop? no other debt
That is absolutely not true, you will get approved for a loan. Your income is good and your down payment is a good amount as well. Lenders look at your Debt -to-Income ratio, and acco ... more
0 votes Share Flag Wed Mar 30, 2011 Financing in New York
Jeri Creson, Real Estate Pro in ,
Jeri Creson answered:
If I found a home that is a Fanny Mae homepath property ,can I pay cash or do I need a mortgage?
You can pay cash...on certain types of special GSE (government sponsored enterprise) REO's, however, there are special rules in place that give bidding priority to first time homeb ... more
0 votes Share Flag Mon Mar 21, 2011 Financing in New York
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
Where to start seeking pre-approval for a mortgage? Big banks like HSBC & Chase?
Michelle,
You can start by checking with the bank you currently use. They will have much of the information necessary making it a bit easier on you in gathering documentation. If th ... more
0 votes Share Flag Tue Mar 29, 2011 Financing in New York
Christopher…, Real Estate Pro in Westchester, NY
Christopher Pagli - ABR, GREEN answered:
Hi, I am looking for FHA approved condos in northern Manhattan (zip code 10040)
Hi, You can go to the www.hud.gov website and they have a section to search for condos on the FHA approved list. If you have any problems finding it let me know.

Christopher Pagli
... more
0 votes Share Flag Sat Mar 12, 2011 Financing in New York
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