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Home Buying in 11415 : Real Estate Advice

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  • Home Buying10
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Activity 9
Thu Feb 23, 2017
Gregg Pomeroy answered:
Hello, you can actually withdrawal early from a 401k for the purpose of buying a home. They consider a home purchase to be a hardship.

You can also take a loan out of your 401k but the loan payment may count in your debt to income ratio depending on how much money you have vested in your 401k.

The process takes a little while so it just depends on when you plan on buying.

I mostly handle the lower NY area and I'm available almost 24/7.

There are a lot of mortgage programs available.

If you would like help with this or have any questions you are welcome to contact me.
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Thu Mar 24, 2016
Kathy Burgreen answered:
Realtors do list it correctly in their MLS systems. Unfortunately, Trulia does not have a separate system for co-ops and condos, therefore Trulia lumps both co-ops and condos together. Zillow never had separate categories either until recently. Zillow bought out Trulia in 2015 and since Zillow now owns it, Trulia has not updated the system since. So this means until the CEO of Zillow works on upgrading Trulia, forget about listings being separated from co-ops and condos.

As a guideline - the easiest way to tell the difference: If the asking prices are low (cheap), it's a co-op. If the asking prices are high (expensive), it's a condo. The reason is the form of ownership in a co-op is the buyer is a shareholder - legally not an owner. In a co-op you are buying shares of stock in a limited housing corporation that gives you "ownership" rights to "own" an apartment in the building. You do not receive a title or deed to your apartment. This is why co-ops are priced much less than condos.

In a condo - you are buying the apartment out right and you receive a deed or title. This explains why condos are priced much higher than co-ops.
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Fri Nov 1, 2013
OLGA MAYAYEVA answered:
It depends on the building...every building has different charges. But the maintenance fees you pay in Coop buildings ( real estate taxes are included in the maintenance), in condo-you will pay common charge and real estate taxes separately.
Which apartment are you planing to buy? Please contact me 7187813074 directly, I would be glad to assist you.
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Fri Aug 9, 2013
Martina Ryan answered:
Houses built before 1938 did not require a C of O. If there are a lot of alterations or add on's to the property it may cause some delays with the mortgage process so you are probably right in getting the DOB involved. This is common enough so don't panic. ... more
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Fri Jun 21, 2013
Belal Mohd answered:
There are, a few but it is a little bit more complex than that. There are very few, I mean very few lenders do 90% financing on Co-ops. You need to make sure you are qualified for that. After that, ask your agent to find you 10% down Co-ops in Kew Gardens. Then you or your agent will have to narrow down and find a match of the lender and the Co-op. Because, the Co-op must be on that particular lenders approved list. ... more
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Sun Jun 24, 2012
Mohammad Pasha answered:
Income tax related question can be best answered by you accountant. There are home warranties available for home buyers like you in case of unforeseen break down of major appliances or heating equipment. But you do not have to go crazy about it. If everything is updated then I would recommend $1000 set aside for any emergencies. ... more
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Fri Jun 22, 2012
Mark DeWitt answered:
Hi rssraj,

You would not need to get a commercial loan, we can do mixed-use properties. I would need to get a little more information about the property in order to provide you with some detailed information. Please feel free to let me know if you would like to explore further.

Regards,

Mark DeWitt
National Residential
858-212-7054 Direct
760-585-4855 Office
760-585-4949 Fax
mdewitt@natresdirect.com
www.natresdirect.com/mdewitt
NMLS# 633211
NASDAQ: HTLF
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Thu Sep 10, 2009
Aldo Grillo answered:
This issue you have will require you to pay for an extended lock date. You need to go back to the bank a and find out how much is a 15 day extension lock on your loan. You then need to inform the seller and ask them to pay for half of the cost if they requiring a closing date after your currently lock date.


Aldo Grillo
Loan Officer
Advisors Mortgage Group
718-701-5650 Office
aldo@SureRatelock.com agrillo@advisorsmortgage.com
www.SureRateLock.Com
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Mon Sep 15, 2008
Jolie Muss answered:
Kim,
Please contact me by email and I will be glad to send some info.
Jolie Muss
joliemuss@joliemuss.com
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