Home Buying in 11207 : Questions & Answers

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Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
I have $15k saved for a downpmt and closing costs. I'm looking to buy a co-op. Am I going to need to save another $10k to afford the DP and closing?
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore visit with any licensed loan officer ... more
0 votes Share Flag Mon Mar 25, 2013 Home Buying in 11234
Kathryn Lilly, Real Estate Pro in Brooklyn, NY
Kathryn Lilly answered:
Mixed Use Property
Mixed use properties typicaly do not have Open Houses.

Kathryn Lilly, Principal Broker
Realty on the Greene, LLC
718-858-7600
0 votes Share Flag Sun Mar 24, 2013 Home Buying in 11217
Jacques Ambr…, Real Estate Pro in 11375
Jacques Ambron, CRB CBR SFR answered:
How soon can one start to look for another property if bank denies mortgage loan on a contract deal?....thank you.....
You should find out why the bank denied the loan, and try to correct the issue. There is no set time limit to start another process.
0 votes Share Flag Mon Mar 25, 2013 Home Buying in 11236
Michael Denn…, Real Estate Pro in Brooklyn, NY
Michael Denniston answered:
I'm looking for a 3 family investment property in Brooklyn, preferably a brownstone in Bed-Stuy. Would like a fixer upper below market value.?
Hi Jersenia,

Based on your question, it's obvious you know the importance of having the right professionals on your real estate investment team. A seasoned mortgage professional is ... more
0 votes Share Flag Sat Mar 23, 2013 Home Buying in Brooklyn
Trulia Brook…, Other/Just Looking in Brooklyn, NY
Trulia Brooklyn answered:
Thinking about buying a 1bed 1bath in CobbleHill towers. Any comments on that building? And aprox how much to expect on rent if needed to rent it out?
Hi there-

You can get started with your hunt here on Trulia: http://www.trulia.com/for_rent/NY/Brooklyn,5071,Cobble_Hill/

Hope this helps,
Ali, Community Manager
0 votes Share Flag Wed Jul 31, 2013 Home Buying in Cobble Hill
Judithzbiegn…, Renter in Staten Island, NY
Judithzbiegniewicz asked:
I am on a fixed income SSI. I also have three roomates. One is also on SSI and another works for the parks. We rent a house but it is not a good place to live. The landlord had it for sale. Then we rented for 1,500 a month then after 7 months put it on thr market so we have to move. So is the...
0 votes Share Flag Tue Mar 19, 2013 Home Buying in Bedford - Stuyvesant
Luke Constan…, Real Estate Pro in 11201
Luke Constantino answered:
What are the pros and cons of living in Brooklyn with a young family?
Well...
They say Brooklyn is "The New Manhattan" and is more culurally diverse than any place I know. We even have a Botanical Garden! It is alot safer than evcer before, some of the ... more
0 votes Share Flag Tue Mar 19, 2013 Home Buying in Brooklyn
Tina Lam, Real Estate Pro in San Jose, CA
Tina Lam answered:
What is the true value, i.e. advantages or benefits, of building up equity in your home?
Financially, it's very helpful to have equity. You can borrow against it or use it to buy a larger or better home.
0 votes Share Flag Tue Mar 19, 2013 Home Buying in Brooklyn
Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
Are previous home owners eligible to be defined as first-time home buyers?
No Rhayward, first time means just that; first time buying a home.
0 votes Share Flag Fri Mar 22, 2013 Home Buying in Brooklyn
Muffinman, Home Buyer in Brooklyn, NY
Muffinman answered:
Is there any way to find out what is the best cell service in your specific neighborhood? Any cool sites that help with that?
I can't tell you how many times I have wondered this myself, thanks for asking!
0 votes Share Flag Mon Mar 18, 2013 Home Buying in Brooklyn
Ann Zemaitis,…, Real Estate Pro in Tribeca, New York, NY
Ann Zemaitis, Rutenberg Realty answered:
I am a renter and know nothing about this, so forgive me if this is silly. Is it a ood idea to purchase condo with no home owners association?
Well, I'll answer your question in a Brooklyn-centric manner, since it appears that's where you're from. While condo home owners' associations are the norm in places like Florida, in N ... more
0 votes Share Flag Mon Mar 18, 2013 Home Buying in Brooklyn Heights
Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
What should I look out for during the final walk-through?
Rhayward,

The purpose of a walk-through is to make sure no damage was incurred from the move out and/or expose something that might have been hidden behind furniture...or anything ma ... more
0 votes Share Flag Mon Mar 18, 2013 Home Buying in Brooklyn
Mitchell Fel…, Real Estate Pro in 11229
Mitchell Feldman answered:
How does one determine the initial offer?
The amount a buyer offers on a property should be based on how badly the buyer actually wants the property. In the end, the only thing we know for sure is that if you offer the full ask ... more
0 votes Share Flag Tue Mar 12, 2013 Home Buying in Brooklyn
Javier Menes…, Real Estate Pro in Farmingdale, NY
Javier Meneses answered:
How can I receive a discount on the FHA initial mortgage insurance premium?
You can't. When you purchase a house using FHA financing, you'll pay 1.75% in Upfront Mortgage Insurance Premium which is typically included into the total financed loan amoun ... more
0 votes Share Flag Wed Mar 13, 2013 Home Buying in Brooklyn
Keith Jean P…, Real Estate Pro in East Brunswick, NJ
Keith Jean Pierre answered:
How much income do I need (least amt.) to qualify for an FHA loan?
Depends on the purchase price, your credit, your last two years tax returns, taxes, HOA fees if any, etc. There are a number of factors. Speaking with a mortgage professional will answe ... more
0 votes Share Flag Mon Mar 11, 2013 Home Buying in Brooklyn
Keith Jean P…, Real Estate Pro in East Brunswick, NJ
Keith Jean Pierre answered:
WHAT IS A 203(k) LOAN?
More information can be found here:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou
0 votes Share Flag Mon Mar 11, 2013 Home Buying in Brooklyn
Keith Jean P…, Real Estate Pro in East Brunswick, NJ
Keith Jean Pierre answered:
What is a 203(b) loan?
That is a standard FHA loan. More information can be found here:

http://www.fhatoday.com/203b.htm
0 votes Share Flag Thu Mar 28, 2013 Home Buying in Brooklyn Heights
Irina Karan, Real Estate Pro in 33160
Irina Karan answered:
WHAT IS THE FHA?
Hello Amy,

Federal Housing Authority.

In case you need an FHA loan, check out this info:

http://portal.hud.gov/hudportal/HUD?src=/buying/loans

Hope this helps,

Irina Kara ... more
0 votes Share Flag Mon Mar 11, 2013 Home Buying in Brooklyn Heights
Madeline Pad…, Real Estate Pro in Brooklyn, NY
Madeline Padovano answered:
about #4E STEEL
Hi Micheline? what is your question abt this coop?
0 votes Share Flag Mon Mar 11, 2013 Home Buying in Windsor Terrace
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